Best Pawn Shops Near Me (2024)

FAQs

What will pawn shops pay most for? ›

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.

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.

At a pawn shop, you leave your property and, in return, the pawnbroker typically lends you approximately 25% to 60% of the item's resale value. The most commonly pawned items are jewelry, electronic and photography equipment, musical instruments, and firearms.

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.

You could get a few hundred dollars for a newer laptop, with a good processor, and that is in good condition. Or you might have a pawn shop tell you that they can only give you around $50 if the laptop is in poor condition, old, or not that powerful.

DON'T: Do not point out flaws in an item you want to purchase. This is just rude to the pawnbroker who spends their time assessing the value of the item and has years of experience doing it. Do you think you're better at pricing secondhand items than them? Perhaps not.

The pawn may capture either the rook or the knight, but not the bishop, which blocks the pawn from moving directly forward.

With pawn shop loans, you stand to lose the item you left with the pawnbroker if you default on your loan. Depending on what you put up for collateral, that could be a big loss for you.

In most cases, selling will bring you more cash, but remember you transfer ownership of the item to the pawn shop. If you need cash, but don't want to lose your tools or items forever, then pawning would be the most effective choice.

How much will a pawn shop give you for a drill? ›

Usually, pawnshops will pay anywhere from $30-$200 for working tools, but you can expect that price to increase if you have any of the top brands.

Pawn shops will pay based on a fraction of the silver's value, usually offering around 50% of the item's worth. But keep in mind that these prices can be haggled upward, in a pawn shop setting, as the initial offer is often lower than what they're ready to pay.

Pawn stores usually pay the most for jewelry like diamonds and gold, timepieces, coins, vintage sneakers, designer purses, and handbags. However, every pawn shop can buy high-ticket items, including vehicles, real estate, and jewelry.

The process of getting a pawnshop loan

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.

If you do locate your property in a pawnshop, pawnshops usually do not release any information due to privacy laws. They also are under no obligation to answer questions. If you do locate your property inside a pawnshop, you should contact the police department immediately for assistance.

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.

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.

Pawn shop's bottom line is to make money. Say that a PS4 pro with 1TB of SDD storage goes for $200. They will likely ask for $50 to $100 at most.

Absolutely! While your local pawn shop likely isn't interested in your favorite ratty old pair of sneakers, they would be interested if you're looking to pawn or sell a fancy pair of designer shoes in good condition.