A pawn shop will buy valuables or use them as collateral against a loan. These shops are a handy way of getting quick cash. But what do pawn shops buy? This question is the main reason you came here.
Selling your items can yield more money for you, but you can also choose to take out a loan against the item.
You then have a few months to pay it back along with interest.
If you don’t pay it back on time, your item will then be sold to the public.
What Items Can I Pawn?
You might be wondering what kind of items a pawn shop would accept.
Well, you can pawn pretty much anything that is worth anything.
Every shop has its own preferences of course but there are plenty of things that are accepted by all or almost all of them.
Jewelry, electronics or musical instruments tend to be some of the bestsellers in pawn shops.
Remember that pawn shops need to ensure they aren’t buying stolen property so take a proof of purchase, receipt or other documentation proving ownership with you to the pawn store.
What Does a Pawn Shop Want to Buy?
A pawn shop makes a profit by selling items and also by loaning money against items and getting it back with interest.
This means the items they are most interested in buying are those they know will be easy to sell.
Power tools in good working order by known brands like DeWalt, Bosch and Milwaukee, can be sold to pawn shops.
Circular saws and power drills are always in demand. Builders and contractors often sell tools to pawn shops, and other contractors, mechanics and DIY enthusiasts will buy them.
High-quality hand tools like socket sets and wrenches can also be sold.
You can sell TVs, computers, laptops and printers, but nothing more than a few years old. Games consoles like Xbox, Wii and PlayStation will sell, as long as they work fine.
Jewelry is one of the most popular items in pawn stores and one of their biggest sellers.
Someone might want to pawn a valuable ring, watch, necklace or other item, and either get a loan on it or a lump sum payment.
Gold is worth much more than silver, of course.
Watches are not interesting to a pawn store owner unless they are authentic and a brand name. Piaget, Rolex, Breitling, Cartier and Chanel are some examples of brand name watches which a pawn shop might be interested in.
Collectible currency and coins like half dollars, silver dollars, rare paper money and American eagles might also interest a pawn shop dealer.
What Pawn Shops Won’t Buy
Cell phones, DVDs, video games and expired car seats aren’t really what they are interested in, mainly because they are very common and often found cheaply in thrift stores.
Pawn shops know that cell phones are risky items because they are often stolen, although some might accept them so phone ahead and ask.
Some pawn shops do accept guns while others don’t.
If you do want to pawn a gun, it is best to phone the store and ask whether they are interested, rather than simply walking in holding a weapon!
Replica items like fake designer bags, are something pawn shops normally decline.
Other items which they are unlikely to want include books or clothes, the exceptions being valuable first edition books or similar.
Only pawn items which are in working order. Broken electronics, for example, are not going to be worth anything.
Deciding What to Sell
If you are ready to make some extra cash by pawning some items, you will need to figure out first what you want to pawn, and second whether you want a temporary loan against the item or a lump sum for selling it.
Make a list of the best things to pawn and follow it. Remember that up-to-date electronics and gold jewelry are always in demand.
You can even sell broken gold jewelry (because it can be fixed). A Canon or Nikon camera, an up-to-date flat-screen TV or an old Macbook Pro going to be accepted.
Electric or acoustic guitars, amplifiers, keyboards and other musical instruments also do well at pawn shops. Even trumpets, horns and trombones tend to do well, because they contain precious metals.
A pawn shop owner is going to pay the most money for something valuable which they can sell easily.
There is no limit really to what a pawn shop will want to buy from you, so as long as it is something authentic, in working order and which someone else might want to buy, you have a good chance it will be accepted.
Flat screen TVs are one of the highest demand items, according to TitleMax, a well-known pawn store, along with up-to-date video game consoles, computers, printers, and other electronics in good working order.
Remember that old items are unlikely to sell, and many pawn stores will decline anything older than two years old or not in the best condition.
If you have something like this to sell, you might be able to make more by listing it on an online auction or in your local classifieds.
Some shops deal in motor vehicles, but not all. It is possible to pawn or sell a modern or classic car.
You will likely get at least $1000 for a late model car in good condition, and of course more if you have a luxury or classic car.
The #1 Item to Sell to a Pawn Store
Do you know what the number one item to sell in a pawn shop is? Typically it is jewelry.
Pawnbrokers like to buy jewelry (even if it is broken) because there is a high profit margin and it tends to sell fast.
If you have real diamond jewelry or a piece with another precious gemstone, this should do well.
It is good practice to get a few quotes before parting with your jewelry. A jewelry store might offer you more money than a pawn shop.
Businesses that only deal in gold might give you an even better price.
Some dealers will try to lowball you so it is a good idea to have some idea what your jewelry is worth and also get multiple quotes before parting with it.