3 Pawning Mistakes to Avoid

Making a critical pawning mistake could mean you don’t get as much as you deserve for your item. It could also mean your deal with your local pawnshop doesn’t go through at all.

3 Pawning Mistakes to Avoid

The good news? All the pawning mistakes on the list below are avoidable. When you know what not to do, you’re on the right track for a successful negotiation with the pawnshop. Below are the top three don’ts when it comes to pawning.

Mistake #1: Not Cleaning Your Item

Bringing a sparkling clean item to your pawnshop will dramatically raise their perception of its value. A pawn dealer is looking for items with the highest resale value, and the better the item looks, the more it will fetch. If your item doesn’t look good, the owner might offer you less money for it, or they might pass altogether.

If you can bring owner’s manuals, power cords and any other accessories that complete the package as well, or its original packaging if you have it, that’s another plus!

Mistake #2: Not Getting Valuables Appraised

Too many customers assuming the pawnshop owner knows what your valuable is worth. If you’re pawning a high-quality piece of jewelry, do some investigative work beforehand to get a good idea of its value. This will give you a realistic starting point for negotiations with your pawn dealer.

Mistake #3: Not Factoring in Supply and Demand

Just because an item has intrinsic value does not mean it has value for your pawnshop. It all depends on how quickly they can resell the item, if they can sell it at all. For example, if you’re pawning a quality guitar that should fetch a respectable price at a pawnshop, you might expect a top-dollar offer.

But if the pawnshop has a large inventory of guitars that aren’t selling, they will be reluctant to offer much. In fact, they might not want to buy your item at all.

If you’re looking to get money quickly through pawning an item, it could be a good idea to look around the shop and see what they don’t already have in stock. Always remember the role that supply and demand play.

Get a Quote from Premier Pawn

Avoiding the top three pawning mistakes means you’ll be on the right path to getting exactly what you hope to for your valuables when you ask for a pawnshop quote. What could you receive from selling your item to Premier Pawn? Let’s start the conversation — call or come into our shop today.