Pawnshops are the perfect options if you need some quick cash. However, if you want to maximize the opportunity, you should know how to play the game.

Here are some tried and tested tips to get the best price when you pawn valuable items at a pawnshop.

1. Know the Rules of the Pawnshop

A pawnshop will have its own set of rules, such as what items they accept and how much you can get for your items. More often than not, these rules are written on a big sign at the entrance. You should read the rules before you bring your items to the pawnshop.

2. Clean Up the Item before Bringing It to the Pawnshop

You may be able to get more money for your item if it is clean, polished, and in good shape. If there is a scratch on the item or looks dirty, the pawnshop owner may not buy it.

3. Do Your Research

You should not just walk into a pawnshop and expect to walk out with a big amount of money. You need to do a bit of research on the items that you are pawning.

There are some online sites where you can look up the price of your items. You can also look at pawnshop listings in your area and engage in comparison. You just have to ensure the prices are comparable to other pawnshops near your area.

4. Bring Proper Documentation

If you have any paperwork such as certificates of ownership and warranties, bring them along with you. Pawnshops prefer items with paperwork, as they provide proof that they really own these items.

5. Negotiate

Pawnshop owners are businessmen who are used to haggling. However, you should not just give away your items for a lower price. You should negotiate if the pawnshop offers you a price that you think is too low.

Here are some simple things you should do: Be firm but friendly. Smile and be courteous to the pawnshop owner. Do not forget to be persistent. You should be firm about getting the highest price for your goods.

6. See If the Pawnshop Offers Free Estimates

If you are unsure how much your item is worth, bring it to a pawnshop that offers estimates. In exchange for a small fee, they will check the item and give you an estimate of the value.

These estimates are based on your item's condition, features, and materials. However, you should still expect to negotiate with the seller to come up with a price you are both happy with. Also, consider the age of your items.

7. Choose the Right Time to Pawn

Like in any market, there will be times when the demand for certain items is high. You should take advantage of these times to pawn your items.

For example, diamonds are worth more in the months leading to Valentine’s Day. Jewelry stores are more than willing to shell out a big amount of cash to buy diamonds.

8.  Be Polite and Do Not Be Rude

Pawnshops are not charities. They are businesses, and they want to get the most out of their transactions. However, the people who run the pawnshops are not heartless. They may be willing to negotiate a bit with you if you are polite and not rude.

Final Thoughts 

Making money by pawning valuable items is easy. You just need to know the ins and outs of pawning and what you should do to maximize your earnings.

If you are on the hunt for a pawn shop in Owensboro, KY, check out River City Pawn Shop today. We loan on gold jewelry, diamond jewelry, watches, electronics, game systems, cameras, cars, motorcycles, and many more. Drop by one of our locations or give us a call for more information.