When it comes to a pawn shop they are a great way to get a short term loan on collateral. All you need to do is offer an item of value and the pawn will likely lend you money for it. Once you have paid off you loan you get your item back. However you can always choose not to get your items back and opt to sell the instead. This way you can get money without having to owe anything. Before you rush to you nearest pawn with any and all items that you think might make you a quick buck you should know which items are most sought after and strategize your sales. Pawnbrokers determine that value of items on a case by case approach. Here are some items that usually sell quite well:
Precious Metals
It probably doesn’t come as a surprise that this is number on the list. Jewelry is one of the biggest money makers for pawnshops. As a rule of thumb, gold is worth more than silver but other precious metals can bank you big bucks too. Precious metals are a great thing to pawn because they gain value with time. The gold you had two years ago might be worth more now that it did when you bought it.
Tablets
You probably have a personal computer or laptop on hand but how often do you use your ipad, tablet or kindle? Tablets can cash out well with a pawnshop. These tech pieces are still in high demand but later models can be pawned for some good pocket money. Consumers want a tablet but don’t want to pay full price. Be sure to bring in the charger and other components when you pawn it
Power Tools
For those of us who do work around the house or make our living through the trades a pawnshop can be a gold mine. You can turn in old tools that are still in good working condition and flip that money to buy better tools for you home improvement projects or labor work.
Gems
While precious metals were high on the list gems are still up there are well. Diamonds are always in high demand and if you have a bunch of precious gems that were inherited from the death of an eledery grandparent you could easily turn that no-longer-worn jewellery into a new back patio or other small home project you’ve wanted to fund.
Firearms
If you are a firearm collector it can be hard to continually purchase new items to add to your collection. Take stock of your current pieces and see which would pull in a pretty profit at a pawn shop. That profit could then be turned into getting a new favorite, Just be sure you have all the legal paperwork you need to prove you own that weapon.
If you are looking to work with a reputable shop that is insured and bonded look no further than Diamond Jewelry & Loan. We are long standing Los Angeles pawn shop that has been serving the people of LA since 1948. If you have items you wish to sell for a quick cash profit or need to get a loan on collateral, think of us.