Contrary to popular belief, pawn shops are legitimate businesses providing people with loans for valuable items. They're heavily regulated to ensure that customers receive fair treatment and that the transactions are safe and secure. They're also one of the best ways for customers to get cash, especially during emergencies. Moreover, it allows people to sell their unwanted items. 

While they could be a valuable investment for emergency funds, you must remember that all establishments are unique. Each has a distinct reputation and quality of customer service and may specialize in different items. 

To help you make an informed decision, here are seven tips to help you find the best pawn shop.

1. Ask for Recommendations

Like other significant investments, you must always ask for recommendations before doing business with a pawn shop. This step lets you determine how reliable that establishment is and how much you should trust in them. 

Begin your search by asking a friend or relative if they know any local pawn shops in your area. Check if they have experience with any establishments by buying, selling, or pawning items. Their opinion can also be of more incredible help if they've previously used the business's services. 

2. Look at Their Reputation 

When planning to use a family-owned establishment's services, you must determine how long it has been in business, how long the same owner(s) managed the shop, and its staff turnover rate. 

Additionally, you must be careful of pawn shops with high turnover rates because it could indicate that the shop is struggling or the company could lack the proficiency and knowledge from being in the business for an extended time.

3. Check Customer Reviews

Reading the online reviews on the pawn shop's Google My Business and Yelp accounts can help you understand what it's like to be their customer. You should also remember that not everyone will leave a high rating. Moreover, we recommend checking the shop's Better Business Bureau (BBB) page to ensure they're accredited and if many customers filed complaints about them.

4. Consider Their Fairness and Expertise

Before selling or pawning an item, you must research its value first. Ensure you know how much it's worth in the market to get a fair offer from your pawnbroker. If the pawnbroker offers a price lower than the market value, ask them for an explanation. If they can't give a good reason, you're best looking for another pawn shop with a better offer. 

It's also crucial to remember that a shop can't offer the exact amount that you'd receive if you sold your item on the open market because they need to make a profit on their purchase.

5. Ensure They're Licensed

Before doing business with a pawn shop, you must confirm that the pawnbroker has a valid license from the state they operate. Shop owners usually acquire permits from their local police or sheriff's office. Depending on their location, they may also need to apply for this essential document from a police commission.

6. Check the Quality of Their Customer Service

Good customer service is crucial when working with a pawn shop. You're better off finding another shop if you feel they're disrespecting you and not giving you the best possible service. You don't deserve to feel like you're being taken advantage of or treated like an inconvenience. 

7. Consider Your Needs

While most pawn shops will accept watches, coins, diamonds, instruments, art, handbags, electronics, jewelry, and collectibles, you must remember that some may not take in guns. It's always best to call them and ask. 

Final Thoughts

Pawn shops help people secure funds during emergencies and sell unwanted items. Checking their reputation and ensuring they're appropriately licensed can help you make the best decisions. 

If you're looking for the best pawn shop in Owensboro, KY, work with River City Pawn! We're committed to providing the best service in the industry while letting our customers get the most for their items. Get a quick stash of cash now!