Large Pawn Shops Near Me (2024)

FAQs

What pawn shops pay most for? ›

Across the board, jewelry (authentic, real jewelry - not costume jewelry) generally yields the most amount of cash. This is because jewelry is made from precious metals, such as gold and platinum, and often incorporates diamonds and other precious gemstones. Jewelry also tends to hold its value over long periods.

Quick tip: Remember that the pawnbroker needs to make money from selling your collateral if you don't repay. These loans only offer a percentage, usually no more than 60%, of the item's resale value, so factor that in when choosing an item to pawn in a loan.

Gold and Precious Metals

Pawnshop owners are often wary of buying expensive items such as electronics, which may quickly become obsolete. Items you will see frequently are gold and precious metals, especially jewelry. These items tend to appreciate in value, so they are favorites of pawnshop owners.

Understand the Pawn Shop's Markup

For example, if the pawn shop marks up the price by 50%, you may want to negotiate to get at least 25% more than the initial offer. This way, you can still get a better price for your jewelry, while the pawn shop can still make a profit.

Pawn shops that buy TVs will also pay more for a bigger screen. If your TV's screen is less than 26 inches, you'd be lucky to get over $50 for it. If your screen is greater than 42 inches, though, a pawnbroker like GEM might offer you over $200, provided the TV is one of the brands mentioned above.

DVDs, video games, and cell phones are not great items to pawn because they are so common. Used DVDs and video games are sold cheaply in thrift stores and other resale shops, so pawn shops are unlikely to be interested in them. Cell phones are frequently stolen, and it is usually too risky for a pawn shop to sell them.

Another benefit of selling something to a pawn shop instead of getting a pawn loan is that you typically receive more money for the item. The pawn shop will determine the value and make you a slightly lower offer. After all, it still needs to sell it to make a profit.

From howstuffworks: "Every day, the pawnbroker must submit a list of all merchandise received, including serial numbers, to the police. The police compare the serial numbers against records of stolen merchandise. Anything stolen is recovered this way and returned to the owner.

If you need to borrow money immediately, the most common options are personal loans, cash advances online, payday loans, pawn shop loans, and banks or credit unions.

What is the most successful pawn shop? ›

Shops know they can sell tools faster (and for more money) when they are trusted brands. Bosch, DeWalt, Milwaukee, Stihl, and Snap-On will earn you the most. Usually, pawn shops will pay anywhere from $30-$200 for working tools, but you can expect that price to increase if you have any of these top performing brands.

Negotiating to get a good deal is all about communicating your offer. Remember—the pawnbroker isn't here to lowball you, but they are looking to obtain an item for a reasonable price. They are very willing to haggle and negotiate prices since it is what they are hired for.

What percentage does a pawn shop give you? A pawn shop would generally give you around 25% to 60% of an item's value. If you have an item with a high value, a pawn shop's offer would also be quite high in return. This is why if you're aiming for higher gains, consider items in demand or high-end.

In order to get a similar return on investment by selling a used item outright, a pawn shop needs to buy it at a very low price. Not only do they need to make a profit on the sale — they also need to pay their rent, employee salaries, utility bills and other expenses.

Playstation 5 consoles, even used, are in hot demand. Someone can easily sell their used Playstation 5 on ebay for way ABOVE the $500 msrp. Trading a Playstation 5 to a pawn shop, they might only get about $220 at most since the Pawn shop needs to flip that Playstation 5 and sell it for the $489 they are asking.

It really depends on the pawn shop, but typically you can expect anywhere from $100 to $200 for a PS4, assuming it's in good condition and comes with all the cables and a controller. Win official PlayStation gift cards by playing games on Playbite!