Dealing with pawnshops during times of need can be either a big hit or miss. Most pawnshops like majorpawn will give you the fairest amount possible for your items. However, some pawnshops will take advantage of your situation and will try to get a quick advantage over you. To avoid that, we are going to give some tips on how to deal with pawnshops:
1. Know the difference between selling and getting a loan –
There is a major difference between these two. Selling your item will give you more return value. A loan on the other hand will give you less money but you have the opportunity to retrieve you item. Both choices have their perks. Majorpawn will help you explore these options when you come in to get your item assessed.
2. Bring in items in great condition –
Even though majorpawn accepts most items no matter what the condition is, that is not the case with everybody else. Other pawnshops will give you subpar prices even for the tiniest scratch on your time piece despite its history and real value. Some pawnshops will not even consider looking at your item as soon as they see the damage.
3. Authenticate your item –
If your item holds historical value, then it is better to authenticate it beforehand. Consult an expert about it. It would also be good if you can bring him with you in the pawnshop. This way you are eliminating any opportunity of low ball prices from the pawnshop. This goes with collectibles and other items as well.
It is always a good thing to gauge the market before settling for a price. One place may offer you $400 for your item, but if you go to us at majorpawn we may be able to come up with a better offer. Selling and pawning your items is all about shopping and negotiating.
5. Know the terms and conditions of your loan –
If you end up settling for a loan, take time to learn everything about what you are agreeing on. With majorpawn, you are not tied to any obligation on paying the loaned amount. However, in any case that you fail to pay on or before your due date, you may either pay to extend your deadline or your item will be for sale.
6. Never be afraid to walk away –
Sometimes, it is just tempting to settle on a price even if you know it is lower that you what you were expecting. If you are selling, this is a big no-no. Remember that you can always walk away and try other places. If you don’t have a choice, then go for a loan. This way, you have an opportunity to retrieve your item.
Getting the most out of your items should be your number one priority when you go to a pawnshop. This is especially true when you are selling. You are already losing a valuable item, make the most out of it at the same time. Never settle for anything you see for first time. Always look around for something that might be better.
Majorpawn has been in the business for more than 20 years and we have maintained a good reputation throughout the years. We prioritize your item’s safety. We also keep your information secure. You can be assured that all transactions will be kept confidential. You don’t have to worry about inflated interest rates because we follow NY State’s regulations.
We also accept a wide array of items – gold, silver and platinum jewelries, diamonds, watches, collectibles and even estates. We will give you the best offers available even for broken items. We separate our name from the rest by accepting items in all kinds of conditions. We will never turn you away.
Hopefully, we helped you understand the ins and outs of the pawnshop industry. These are just the basic knowledge you need to know to be ready if you are going to sell or pawn an item. We aim to educate you so that opportunists cannot take advantage of you. After reading this, you are better equipped to negotiate and get the best value out of your beloved items. If you have items that are lying around your house and of value you can try getting money out of them.