11 Jul Top 10 Items Pawn Shops Drool Over (You’ve Been Warned)
You’re in need of some quick cash right?
Chances are you’ve explored all your options: you’ve asked your friends, you’ve applied for a bank loan, you’ve even tried selling your soul. Then you realize the one option you haven’t explored yet, is the pawn broker.
You do some quick research and you learn how pawning works but there’s still one question you keep asking yourself, what do pawn brokers loan on or buy?
Thankfully, there are a few items that most pawnbrokers can’t refuse. In fact, when they sense some of these items coming through their doors, they gravitate towards them like flies to meat. You might even notice them drooling over it, try not to stare., although it would be best to shop around and find out what your local pawnbroker specialises in
PRECIOUS METALS: “Sell or loan against your gold for quick cash now!” That’s because gold’s value has nearly doubled in the past 10 years (as of April 2017). Gold, like many other precious metals, are increasingly becoming the go-to asset to hedge against inflation. we’re constantly being reminded that the sky is falling and to buy gold immediately. That makes trading precious metals big business for gold-buyers like pawnbrokers.
Precious metals such as gold, silver, and platinum are by far the easiest items to pawn for quick cash. They provide pawn shops a unique set of advantages that most items can’t. Precious metals are easily converted into cash, appreciate over time, and are heavily monitored by third parties making it easier to appraise their value in real-time. These three advantages make precious metals especially alluring to pawnbrokers and consequently the best item to pawn.
DIAMINDS AND GEMS: If you’ve ever watched an action movie made in the last 50 years, you’ve probably noticed an old and reoccurring movie trope: the bad guy (or girl) lusting over a handful of stolen diamonds. Movie tropes are metaphoric ideas that are instantly recognizable by an audience. That is to say, diamonds are universally admired objects that many people would kill for and that’s no different for a pawn shop (except for the killing part).
Diamonds are one of the most common items purchased by pawnbrokers mainly because of their scarcity and high demand. With diamonds, you don’t have to worry about a factory mass producing them and driving down prices. That makes them an ideal asset for a pawnbroker to loan against.
Jewellery: lending against jewellery is definitely a safe bet for pawnbrokers. Think about it, who doesn’t own a piece of jewellery? Although jewellery is not as liquid as gold or diamonds, their demand is still high. Many people purchase their jewellery from a pawnbroker and consider it to be a good alternative to a jewellery shop. That makes purchasing jewellery more attractive for pawn shops, especially when they know they can markup the price and still remain extremely competitive.
WATCHES: Did you know that one of the first things a woman notices on a man is his watch? It may seem silly at first but a watch is unlike any other piece of jewellery. It has the ability to encapsulate and summarize everything a man (or woman) represents in less than half a pound. The psychological bond between a man and his watch circumvents all logical decision-making skills and allows retailers to charge top dollar for certain watches. If youve ever seen a watch commercial or seen an actor wearing an exclusive watch it seem so majestic.
Pawnbrokers love these types of items. In addition to the intrinsic value of the watch (cost of labor, materials, etc.), they can exploit the psychological attraction a person may have for a watch. That means you can expect a good amount of money for your watch. Popular watch brands like Breitling, Movado, Omega, and Rado can easily fetch $500 at a pawn shop. Other high-end brands like Rolex, Ulysse Nardin, Hublot, IWC and Panerai can fetch well over $1,000.
POWER TOOLS: The average working man (construction worker, mechanic, handyman, etc.) can’t afford brand new power tools. When a working man is considered as good as his tool collection, any worker with less than 10 power tools is not considered efficient. Unfortunately, a single 5-piece combo kit can cost in excess of $500 and up. Pawnbrokers offer an alternative to these steep prices. It has become the “go to place” for the working man trying to make a living on a tight budget. If you’re looking to pawn your tools, you should have no problem loaning on them or selling them to your local pawnbroker.
ELECTRONICS: Electronics are a staple of all households in New Zealand. Unless the house is abandoned, you can bet you’ll find at least 20 electronics scattered around. From the computers we use to the television we watch, our lives revolve around electronics. Unfortunately, once we buy them they aren’t worth much after. That’s exactly why you shouldn’t expect to get too much for common household electronics at a pawn shop. Although most pawnbrokers won’t have a problem buying them from you, don’t bet your rent on it.
Video Games & Consoles: If you’re a gamer and you’re looking for a quick way to make some cash then selling a few games to the pawn shop may be a good option for you. Most pawn shops carry a small to moderate collection of games for XBOX, PlayStation and Nintendo. Unfortunately used games depreciate faster than most electronics due to the abundance of new and used copies. you should expect to sell more than 5 games (preferably popular titles like Madden, Call of Duty, GTA, Uncharted, Halo, etc.) to a pawn shop. If you don’t mind selling your game console, you can make that $ much quicker.