Are you looking to take any item to a pawn shop but aren’t sure of what to expect? There are various factors that go into how much they will pay you. Let’s go over some ways they determine this.
One of the most popular tools that a pawn shop will use is eBay. They will look to see how much similar items to yours have sold for in the past.
They will take this value and offer you a percentage, usually 10%-30%. The reason this percentage is what they use is because the pawn shop has to make money, and they will have to spend money on your item to sell it.
If the shop knows that their customers will love it, they will often offer you more, as they won’t have to spend money to sell it on eBay. Other pawn shops will use a 10-20 rule, which is 10%-20% of its brand-new cost. However, jewelry will be paid out differently. It will depend on its weight, any diamonds, and other factors.
These are just a few things to keep in mind before taking your item to a pawn shop. It’s important to understand your item to get the best value. Learn more by viewing the video above.