Pawning is one of the easiest ways to secure quick cash. The process means giving the pawn shop the power to rate or deal with you for the item you have on hand. 

After the estimate, you’ll receive hard cash, which you must pay within a specific period. Note that there will be an added interest on top of the item’s rate. However, failure to deliver on time may lead a pawn shop to take your item as their own for resale.

Getting a good deal on pawn shops is tricky. Some items sell well, while others may have value but don’t appeal that much to the people. Therefore, a pawning deal varies on the item itself. But how do you strike a better deal for pawning an item? Keep reading below to find out.

1. Choose an Item to Pawn

Pawn shops accept mainly anything—from valuable pieces of jewelry to vintage hand-me-downs. It’s up to the client to choose which items they’d like to check out the value. However, the most common things people offer to pawn shops include cars, power tools, weapons, and art pieces. If you have any of those, make them handy instead of letting them rot at home.

Although pawning offers various selections for people to choose from, ensure to consider the item’s value to you or your family before settling them in a deal. Also, try to assess if you can pay the monthly dues the shop assigns to the item of your choice. If not, your item may end up in the store’s possession for failing to pay accordingly.

2. Remember to Haggle

Sometimes, getting the best deal depends on your haggling skills. Although there is a good chance that pawn shop owners will agree with a haggle system in place, they are not collectors but resellers. As much as possible, they’ll try to seal the deal with an amount that works for their benefit.

For example, if you’re looking for a high-value deal for your box of vintage collectibles, a pawn shop may not be an ideal place to haggle. Although collectors may think your collection of The Beatles vinyl is of high market value, pawn shops will only value it at their standard rate for similar collectibles. Haggling might work in your situation, but there isn’t any assurance that you’ll get the deal you have in your mind.

3. Back Up Your Claims

For people pawning a vintage item, here is a tip for you. If you’re bringing a historical piece, make sure to come with a part of the documentation that proves what you have in possession is indeed part of history.

Pawn shops do not honor facts only uttered by mouth. Instead, they would like to see proof that backs up their client’s claims. Instead of wasting time carrying an old antique jar to the store, try to find evidence for its origins first before storming pawn shops.

4. Make the Items Look Their Best

Although pawn shops look for the most vintage and unique items, they also value their ability to sell to the general public. Most of the time, they don’t bother looking at things if they’re in a terrible state or condition. 

Before pawning an item, make sure to make it look its best to increase its value. When people see that what you bring has value and remains in good condition, they’ll gravitate towards it and give you a good deal for it.

5. Pay Your Dues on Time

Paying on time assures your item will go back to you after the contract is over. However, failure to do so may lead the pawn shop to acquire the item pawned for a resale. To strike a better deal, make sure to pay back the loan plus the interests on time to avoid penalties.

Conclusion

Although pawning can provide fast cash to people, remember that it is a gamble. Before striking the deal, read through the agreement and understand the rules set by the store. Focusing on gaining a better deal is more than getting a good amount of money from the item pawned. Instead, it is also about getting your item back after addressing the due payment.

River City Pawn is a pawn shop in Owensboro, KY, specializing in pawning various items for clients. We accept articles from firearms to scrap jewelry, making fast cash more accessible to our people. Visit our website to learn more.