Finance

5 Tips To A Successful Pawn Transaction

Pawnshops are a great place to access cash quickly using your valuables as collateral, but pawnshops are quite different. Some pawnbrokers prefer certain items over others because they sell better. Most pawnshop rookies go in with their jewellery with no clue how much they will get for it. They may know that it definitely won’t be the same amount they spent buying the jewellery piece but they don’t know the actual value of the gold jewellery as used items that still have value. That is the first most important thing you need to know, the second important one is to sharpen your negotiation skills– pawnbrokers almost always expect some haggling. These aren’t the only two things that can make your visit to a pawnshop successful. Here are a few tips that can help you have a more fruitful encounter with a pawnbroker:

#1 – Clean your gold valuables

You wouldn’t buy anything that is dirty or even think it is worth much if the owner himself hasn’t kept it in good condition or at least taken some time to wipe the dirt off. Presenting gleaming gold jewellery proves to anyone that you at least cared about it and will equally care about the money you will get for it.

#2- Be Nice

Being polite shouldn’t be a difficult thing. Pawnbrokers get their fair share of crazy, loud, and rude people that come through, and most of the time their attitudes did not inspire the pawnbroker to offer a good price for whatever they had come to paw. If you are calm, friendly, and polite you will put the pawnbroker at ease. Respect can go a long way in getting you good service.

#3 – Don’t rant about your money problems

Pawnbrokers hear all kinds of sob stories on daily basis about why customers need the money. Don’t be that person. The reason why you need quick cash or selling your wedding is nobody’s business. The only important thing is how much your gold jewellery is worth and how much you are hoping to get for it.

#4 – Review what the pawnshop has on its shelves

Not all pawn shops are the same. Some pawnshops carry a lot of TVs and electronics and very little jewellery if any. Trying to pawn gold to a pawnbroker who isn’t that interested in gold or jewellery is a waste of time. Get a sense of what a pawnbroker is interested in by perusing the shelves. If the sales items are too eclectic, you should just go ahead and ask the pawnbroker what he prefers the most. If it’s not gold jewellery, then move on.

#5 – Don’t accept the first offer

In a lot of cases, if you’ve done proper research on a pawn shop, then the first choice you make based on all that information you gathered will be the best. However, that does not mean this is the only great offer you will get. Approach a pawnbroker with a realistic offer. Have an idea of what you want and what you might be willing to settle for.

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