Category Archives: blog

Why Your Pawnshop Is Ideal for Holiday Shopping

Is your local pawnshop the first place you turn when it’s time to fill the space underneath the Christmas tree? It should be!

You can get amazing deals on tech gifts, sports equipment, jewelry, handguns and rifles and more! Instead of automatically paying full price for an item in a store, check your pawnshop first. Getting a discount while checking all the items off your holiday shopping list is part of the fun!Ideal for Holiday Shopping

Why depend on your pawnshop when you have a long list of gifts to purchase?

Get Cash for Your Valuables

What better way to reduce your holiday shopping budget than by infusing an extra bundle of cash into your wallet? It’s the perfect time of year to get a return on the valuable items you aren’t using and put that money to good use this season. Christmas shopping can get expensive, but if you have something we can sell, we will buy it from you! This can help ease your budget when things get tight.

Trade Is an Option Too

At Premier Pawn, we offer the option to trade. If you have a valuable item and you also have your eye on something on our shelves, let’s talk!

Why Pay Retail Price if You Don’t Have to?

One of the biggest reasons holiday shoppers turn to their local pawnshop is because nobody wants to pay more than they have to for the latest gadget! If you can find a DSLR camera or the newest Apple product for less at our store, why pay more at the giant retail chain down the street?

A Reliable Place for Jewelry Shopping

If you’re in the market to surprise your sweetheart with a watch, chain, bracelet or ring this Christmas, rest assured you’ll have the experts on your side at your local pawnshop. Pawnshops assess all jewelry pieces that come through our doors for quality and authenticity. You will choose from only the best!

Here Are Some Gift Ideas to Get You Started!

Now that you’re convinced, we’ll help you get inspiration for your next shopping spree at Premier Pawn. Have a golf enthusiast in your family? You can upgrade their clubs for a bargain. Do you have a budding photographer on your list? What about a digital camera for them to capture the best moments at your holiday party! Is your teenager dying to upgrade the audio in their ride? Subwoofers and stereo systems are great gift ideas!

Depending on our inventory, Premier Pawn can help you make everyone’s dreams come true this Christmas, and for less. Call your local pawnshop or stop in today. We are ready to serve!

Finding an Engagement Ring: Your Local Pawn Shop Can Help 

Does finding an engagement ring seem like a lengthy, involved process?

When you’re shopping for the diamond that will ultimately get your one true love to say “I do” to forever, it has to be perfect. It has to live up to expectations, but you also may not be able to afford a high-priced diamond.

Finding an Engagement Ring Your Local Pawn Shop

What’s the answer? For many, finding an engagement ring gets easier, especially on your budget, when you turn to your local pawnshop for help.

Why Jewelry Stores Mark Up Their Inventory

At jewelry stores, the diamond rings for sale are marked up substantially from their actual value. Why?

Jewelry stores have a lot of overhead — employees, rent, utilities, etc. Pawnshop owners don’t structure their business around sourcing, creating and selling diamond rings — they just buy them from people who need quick cash. They are only concerned with the actual value of the piece, not all the costs required to fund the jewelry store’s operation.

Sure, pawnshops mark up the jewelry. It’s how they stay in business. But not as much as a jewelry store. Those savings can benefit you. You’ll pay much less than you would at a jewelry store chain.

When You Want Something Unique

Do you love hunting for a bargain? Are you enchanted with the idea of antique jewelry? Are you focused on finding something unique? Then finding an engagement ring that fits your vision is easy at a pawnshop. The inventory may not be as extensive as a jewelry store, but finding a “diamond in the rough” is a much more likely.

Research the Store

Before you start your engagement ring hunt, make sure you know the credentials of the pawnshop you plan on visiting. Check online reviews and see what past customers have to say. Make sure you feel confident before you walk in!

Know What You’re Looking For

It helps to know what you’re looking for in advance in terms of carat, style, size and shape. This will guide your search and help pawnshop owners show you the rings that will interest you the most.

Remember, you could find the right diamond in the wrong setting. You have options — you can have a jeweler take out the stone and craft a new ring and still get a great deal.

Get it Appraised

Find a third-party appraiser to give you a true value of the stone. This can help you feel more comfortable negotiating with your pawnshop, or make you realize how great a deal you’ve found!

Trust Premier Pawn for outstanding service when your main objective is finding an engagement ring. We are here to help you on this journey.

Your Hands-On Guide to Pawning a Gun

Pawning a gun is a great way to acquire cash fast without going through the lengthy, inconvenient process of trying to find an actual buyer for your firearm. Guns can have considerable resale potential and value, making them a top item to pawn or sell.

pawning a gun

When pawning a gun, many rules and regulations affect the process, unlike other pawning other items such as a bicycle or a musical instrument.

The Legal Side of Things

Make sure you’re doing business with a pawnshop that’s a federally registered firearms dealer. This means they follow all federal gun regulations. There are usually state gun laws that also place restrictions on pawnshops, such as conducting background checks before selling guns or returning the firearm to its owner at the conclusion of a pawn loan.

Expect a reputable pawnshop to share information with local law enforcement, and keep in mind that they will not allow minors or out-of-state residents to pawn a gun.

How to Prepare Your Gun

As you would with any item you’re pawning, thoroughly clean your gun before bringing it in to the shop. Make sure you know about any damage or wear and tear so you aren’t surprised during the negotiation process.

Never bring a loaded gun into a pawnshop. The chamber should be empty and the gun should be in a locked case. You and the pawnshop owner should follow best firearms handling practices, treating the gun as if it’s loaded during the inspection process.

You will also need to bring your ID and any records you have about the gun, which the shop owner will photocopy for their records.

What Types of Guns Are Accepted?

All guns that are in good working condition are eligible to pawn. An antique or rare model can fetch a high price, depending on what the shop is looking for.

Know the Terms of the Deal

As with any pawn agreement, it’s important to make sure you understand the terms of the deal before you sign a contract. If you plan on buying back your gun, make sure you know when the first payment is due. Ensure you are able to make all payments on time, as agreed upon, or you may face increased interest rates, late fees or potentially lose ownership of the firearm.

At Premier Pawn, we embrace transparent business relationships with our clients and customers. When you are pawning a gun, come to the shop that’s fully licensed and follows safety regulations carefully, ensuring you the best experience possible, and more money for your firearm.

7 Items That Are Worth Money at Your Local Pawnshop

When you want quick cash from your pawnshop, which of your belongings will fetch the highest price?

If you’ve never been to a pawnshop, you might not know what’s most valuable. Here’s a hint: leave your old baseball card collection at home (unless it’s full of rarities).


1. Luxury Watches

Watches from luxury makers retain their value, especially if the watch is no longer made and is in good working order. Watches with names like Rolex, Cartier and Breitling are fine pieces and worth money in a pawnshop. Clean the watch and tune it up before bringing it in to get the highest offer.

2. Guitars and Amplifiers

Musical instruments have a high rate of resell, so they’re likely worth money to a pawnshop. In particular, guitars and amplifiers from quality manufacturers are easy to resell.

3. Diamonds

It depends on the cut and the carat, but diamonds can usually fetch a good price at pawnshops. Diamonds of at least a half karat are most desirable.

4. Power Tools

Power tools can be a great item to sell to a pawnshop, as long as they aren’t too old. Pawnshop owners won’t be able to get a high price for 14.4-volt tools, but newer, 20-volt tools attract buyers fast. Provide all the original parts and charge them before bringing them to the pawnshop so you can prove they work.

5. The Latest iPhone

An estimated 700 million iPhones are in use, and 200 million were likely bought secondhand. So if you’re switching to an Android, sell your iPhone, especially if it’s the latest model, at your local pawnshop. The shop is sure to find a buyer — it’s only a matter of time.

6. MacBooks or Gaming Computers

MacBooks are expensive laptops, so consumers often prefer buying them secondhand. Gaming computers built with the best hardware on the market will also fetch a premium price, so pawnshops gladly accept these items.

7. Guns

Guns retain their value, as long as they are properly maintained. Make sure your local pawnbroker accepts firearms before you bring them in. You also must be able to prove you’re the registered owner.

You may find that some shops specialize in one type of gun, such as antique shotguns, while another shop mostly accepts modern, automatic weapons. With policies changing all the time, it’s important to check with the individual shop before you go.

Premier Pawn is South Salt Lake’s top pawnshop, and we’re open every day. Contact us for more information on what items we accept and how we can help you get the funds you need today.

7 Steps to Pawning a Smartphone

Pawning a smartphone can help you catch up on your bills or purchase that big-ticket item you’ve been saving for. But with millions of smartphones around, how can you make yours stand out so you get the best price for it?

Steps to Pawning a Smartphone

Follow the seven steps below when pawning a smartphone, and put yourself in the best position for the most cash.

1. Call Ahead

It seems like every pawnshop should accept smartphones. After all, they’re popular items that likely have a high resell rate, right? Well, it depends on the pawnshop.

Some shops don’t deal with smartphones, while others specialize in them. So make sure you find a pawnshop that will accept your make and model before you go to the trouble of bringing it in.

2. Clean it Up

You have control over many factors when it comes to the condition of the item you’re pawning. No, you can’t fix major damage (and you probably shouldn’t expect to get much, if anything, from pawning a smartphone that’s broken), but you can wipe down the outside and try to make it look as new as possible.

If the pawnshop owner feels like they could sell it right away in its current condition, they will readily do business with you.

3. Restore it to Factory Settings

Make sure you transfer all your data off the phone, including music, pictures and contacts. Save it to your computer or transfer it to your next phone.

Next, restore the phone to factory settings and make sure all personal data is erased, including apps. Also, remove any passcode on the phone so it’s unlocked.

4. Turn Off Tracking

If you have a “find my phone” feature turned on, make sure this is off. It’s probably one of the first questions the pawnshop owner will ask, so when you’re prepared, it looks better for you!

5. Gather the Accessories

Bring the accessories that were included with the phone — the charger and the headphones. If you have the phone’s original packaging, bring this too. The more complete the smartphone package, the likelier that the pawnshop owner will be able to sell the item quickly.

6. List the Specs

Make sure you know your phone inside and out. You should know the manufacturer, the model and the storage capacity. You should also know the carrier, as this can determine if the phone can be resold or not. When you have a complete list of specs on hand, you have greater negotiating power.

7. Be Realistic

Is the smartphone you want to sell in high demand? If there is no market for the phone you’re pawning, you’re probably not going to get a good offer. Stay realistic in your expectations so you aren’t disappointed.

Pawning a smartphone can be easy when you’re prepared. Call Premier Pawn to learn more about how to get the most for your item, or come into our shop today!

6 Myths About Pawnshops You Shouldn’t Believe  

There are many myths about pawnshops that might prevent you from considering your local pawnbroker when you need to sell your items or get a fast, secure loan.

pawnshop myths

Once you realize these myths are just that — misconceptions — you will start to see why you shouldn’t count out pawnshops for buying, selling and loaning. Your local pawnbroker can be one of your greatest resources!

Here are the top six myths about pawn shops that are easily debunked:

Myth #1: They Buy Stolen Items

You may have heard others declare they believe pawnshops buy and sell stolen goods.

This is false. In fact, pawnshops do the opposite — they work with local police to stop crime and catch thieves. They check lists of stolen items and compare serial numbers before buying any merchandise. And they take down the name, address and phone number of every person who wants to pawn something.

Myth #2: Pawnbrokers Try to Keep Items

It’s in your pawnshop’s best interests for you to successfully pay off your pawn loan — that’s how they make money. It also means you may be back to pawn items again. Pawnshops do not try to keep your stuff. They would much rather have the money paid back with interest.

Myth #3: They Charge Astronomical Interest Rates

No matter the industry, every lender will charge interest based on the amount of the loan, the level of risk they are assuming and the length of the agreement. When you get a loan from a pawnshop, it’s usually for a smaller amount of money and the loan lasts for a short period of time.

Your valuable item is the pawnbroker’s only collateral, and they’re in charge of its care while you’re paying back the loan. When you compare a pawnbroker’s fees to those of a payday lender or the amount you may be charged for an account overdraw, you will likely find the rates are quite reasonable.

Myth #4: The Industry Is Unregulated

Here’s another one of the popular myths about pawnshops: They can do whatever they want. This is not true, as pawnbrokers do business in a highly regulated industry. At federal, local and state levels, pawnshops need licenses, and the financial transactions are monitored in a similar manner as the banking industry.

Myth #5: Their Products Are Outdated

Maybe you don’t consider buying from a pawnbroker because you assume they only buy used items that no one wants. In fact, the opposite is true. You can get the latest electronics, rare musical instruments and all of the recent tech gadgets at your local pawnshop, likely for a nice bargain. Pawnbrokers only buy the best because they want to be able to sell those items again.

Myth #6: They Are a Last Resort

Do pawnshops attract only consumers who are at their financial rock bottom? This may be true in some cases, but most clients visit pawnbrokers for loans because it’s extremely convenient. There is no lengthy application process. You don’t have to explain why you need to borrow money, like you would if you were borrowing from family or a bank. There isn’t even a credit check. It’s a straightforward, helpful way to get a quick cash advance, and plenty of people take advantage of this benefit for countless reasons.

At Premier Pawn, we’re dedicated to providing you with the best service possible, whether you’re buying products, selling your items or looking for a loan. Don’t believe the myths about pawnshops — we are a transparent, honest small business ready to serve you!

Pawning Jewelry: How Much Is Your Gold Worth at a Pawnshop?

Pawning jewelry is one of the fastest ways to make a quick buck when you’re in a pinch. It can be sad to let go of your old valuables, but sometimes paying bills is the priority. You may wonder, though, how much cash your jewelry can bring in. Is it worth it to sell?


One of the most common types of jewelry to sell at a pawnshop is gold — gold is always worth something. It’s traded 24/7 on the financial market, so prices fluctuate all the time. This makes it difficult to determine exactly how much your bracelet, watch or chain will be worth from one day to the next, but you can do some calculations to determine what you will likely receive from a pawnshop.

Make Sure it’s Clean

First, before you take your gold to a pawnbroker, make sure you clean it thoroughly. Just like any other type of item, pawning your jewelry will give you the highest return when you make it look as new as possible. And use the right kind of cleaning solution — one specifically made for gold.

Know the Weight

The weight of your gold will play into the total value. Pawnshops either use grams or pennyweights for measuring units. One pennyweight is 1.55 grams, so it’s an easy conversion calculation if you have to compare offers from multiple pawnbrokers

Find Out the Purity

The purity of the metal will also affect your pawn offer.

  • 10 karat: 41 percent gold
  • 14 karat: 57.5 percent gold
  • 18 karat: 75 percent gold

The purer the gold, the higher the value.

Assess Market Value

The price of gold fluctuates constantly, so check current prices for the most up-to-date estimate. Then you can calculate the market value of your item based on this equation:

Trading price of gold/31.3 x percentage of gold x weight.

If gold is trading for $1,200/ounce, you have a 14-karat chain and it weighs three grams, your equation would look like this:

$1,200/31.3 x .575 x 5 = $110.22

Now remember, that’s the market price of your gold’s melt value, but pawnshops offer less in order to resell the item to make a profit.

Get an Offer

Pawnshop customers who expect to receive the same value for their gold jewelry that they originally paid won’t be satisfied. When stores sell jewelry, they are accounting for the costs of manufacturing and marketing the piece. You will not recoup this cost. Also, pawnshop prices are designed to allow the pawnbroker to make a profit off an item. Otherwise, how would they continue to do business?

It is possible to get a fair, reasonable price offer when pawning jewelry, you just need to go to the right place. If you have a realistic view of the worth of your jewelry, it’s easier to tell if you’re getting a good deal.

You can trust Premier Pawn for straightforward offers. We can help you get through your hard times and come up with the cash you need. Call or visit our store today!

5 Steps to Selling Used Electronics to a Pawnshop

Selling used electronics is one of the fastest and easiest ways to get cash when you need it.

Even though electronic devices are some of the most common items to sell at a pawnshop, you can take steps to make sure the pawnshop owner not only accepts your items, but offers you a respectable price for your belongings.

selling used electronics

What Are You Selling?

Some of the used electronics you may be able to sell include laptops, digital cameras, iPods, cellphones, GPS devices, video game consoles and TVs. What your pawnshop is looking for will largely depend on local demand for the item. The shop wants to be able to resell the item as quickly as possible, so don’t depend on outdated printers and ancient DVD players to bring in a large return.

Follow the five steps listed below to get the best price for your used electronics.

1. Contact Your Pawnshop

This is a general rule of thumb for anything you want to sell — call the shop first. Before you lug in your large, flat-screen, high-definition TV, you want to make sure they’re going to take it. If the shop doesn’t think the item is a viable product for them, you’ve saved yourself a trip.

2. Gather All the Parts

Once you know your local shop will buy the item, make sure you find all the parts that go along with it. Power cables, installation software and user manuals all add to the collective value of the item.

3. Clean it Up

Electronic devices can use a spiffing up if they haven’t been used lately. Clean out dust and wipe smudges off screens. You’ll get a bigger offer on a clean item.

4. Reset the System

Many pawnshops have the capability to wipe cell phone and camera histories, but get this done beforehand and enjoy peace of mind of knowing your personal data isn’t compromised. This also shows the shop owner you’re serious about selling the device for top dollar.

5. Demonstrate it’s Functional

Once you get to the pawnshop, prepare to demonstrate that your electronic device works well. Show off all the features of your fancy camera and prove your cellphone is functioning without any issues. This is expected when selling used electronics — the pawnshop owner has to know they’re not buying a defective item.

What Can You Expect to Get?

The amount you can receive from selling used electronics changes constantly. As new models come out, demand for the previous year’s model drops. Every quote is highly personalized based on the location of the pawnshop and the item in question. For your free quote, contact Premier Pawn today.

Pawn Loan vs. Bank Loan: What’s Right for You?

Are you trying to decide between a pawn loan or a bank loan? You might think they’re the same, but the two options are quite different.

You may be relieved to learn the bank isn’t your only resource when you need to borrow money, but what exactly should you expect from a pawn loan?

pawn loan

What Documents Do You Need?

If you walk into the nearest bank and ask to take out a loan, you’ll immediately be bombarded with questions. The loan officer will ask for your identification, proof of your checking or savings account balance, pay stubs from the last six months, and maybe even last year’s tax return.

Banks don’t lend money easily. They must be convinced you are likely to pay the money back.

When you go into a pawn shop, it’s different. To fill out lending paperwork, all you need is an official, government-issued form of identification. That’s it.

Do You Have to Pass a Credit Check?

Banks will ask you to fill out a loan application. On this application, you will be asked for your Social Security number, which they will use to check your credit score. If your score is below a certain threshold, you may not be approved. If it’s mediocre, they may approve you for a loan, but tack on a high interest rate.

When you’re getting a pawn loan, you don’t have to pass a credit check. You can keep your Social Security number private.

Is There a Good Chance You’ll Get Approved?

Banks can be picky with loan application candidates. If you don’t meet their minimum income requirements or if they don’t like what you plan to use the money for, they may turn you away.

When you attempt to get a pawn loan, all you have to do is offer up an item of value. As long as the pawn shop and the item’s owner agree on a dollar amount, approval is automatic.

How Long Does it Take?

Bank loans can take days or weeks to process. Even after you’re approved, transferring the money into your account can take another day or two.

A pawn loan is the best option when you need cash fast. Walk in with your item and walk out with the cash in hand.

What Happens During the Repayment Period?

If you fail to repay a bank loan, expect steep late fees and collection agency calls. Failure to pay will go on your credit report and significantly lower your score.

With a pawn loan, you’re usually able to get an extension if the original repayment period isn’t working for you. If you decide you don’t want to pay the loan back, you simply let the pawn shop keep the item. You won’t owe anything else and it won’t bring down your credit.

What Should You Do?

As you can see, a pawn loan is a flexible, no-stress solution that can provide quick cash when you need it. Come into Premier Pawn and explore our loan options today.

Should You Sell Your Items, or Get a Pawn Loan? ​

Is a pawn loan the solution to your financial difficulties?

Contrary to many misconceptions and myths, pawnshops are a part of a highly regulated, upstanding industry, but separate from traditional financial lending institutions.

When you need cash to fill in occasional gaps in your monthly budget, pawnshops are a good resource. Modern pawnshops offer two options — you can either sell your items or use them as collateral for a short-term loan.


Pawning vs. Selling: What’s the Difference?

Pawning your items is different from selling them.

When you visit the pawnshop with the intention of selling your items, the pawnbroker will assess the value of the item, then make you an offer. Once you arrive at an agreement, they pay you in cash and they are then free to resell the item.

When you visit the pawnshop to get a pawn loan, the process works a little differently. The pawnbroker will evaluate the item, then make you a loan offer. If you accept, you must provide an official form of identification, then sign the loan agreement. To retrieve your item, you have to pay back the loan amount within the predetermined time frame, plus interest.

When You Need Maximum Cash

In general, if you’re trying to get the most cash possible, you should plan on selling your item. Pawnbrokers typically offer more for an item when they’re buying it because they can sell the item faster. The downside? Even if you return to the same pawnshop a few months later in the hopes of buying it back, it may very well have been sold.

When You Want Your Item Back

Leveraging your valuables for cash is a smart way to get a short-term loan. Plus, you can do it without undergoing a credit check. If you want to keep possession of your item, pay close attention to the terms.

Make sure you pay back the money in the specified time frame, which is usually less than a couple of months, and pay the interest too. Defaulting on a pawn loan can’t hurt your credit score, but it will result in forfeiture of your item.

Visiting Your Local Pawn Shop

Whether you decide to sell your items or use them to secure a pawn loan, make sure they are in good condition before you bring them to your local pawnshop. Only bring items that have clear resale value and are in working order, or are clean and polished, such as in the case of jewelry and watches. That way, you’ll be sure to get top dollar and find a solution to your need for cash.

Visit Premier Pawn in South Salt Lake — we help our customers solve their cash flow needs, whether you’re interested in selling your valuables or securing a pawn loan.