Do you have extra belongings around the house that you liquidate for cash? There are plenty of things to sell at a pawn shop that can bring in a good chunk of change. Pawn shops can offer a quick and convenient way to get cash for your stuff. This may be the way to go to make money fast. Often, you can get cash in a few hours.
As the money-making experts we are, we dug deep in our quest to bring you this comprehensive guide. We've dug deep, calling around for quotes on popular items and relying on our team's own personal experiences to find what items bring in the most, making it easier to decide what you have sitting around the house that may be worth selling!
I find jewelry the easiest and quickest to sell while typically bringing in the most cash. However, pawn shops will accept plenty of other items, too.
Let's look at how pawn shops operate, the best things to sell to a pawn shop, and some ways you can cash in quickly.
What Is a Pawn Shop?
A pawn shop is where you can take belongings you no longer need. Once at a pawn shop, you can sell or get a loan for your items. Pawn shops may be seen as a bit seedy, but they don't deserve this reputation.
Although some people will try to pawn stolen items, pawn shops are used by many hardworking citizens. People of all types need to get cash for their belongings occasionally.
Pawn shops can be straightforward to work with if you don't want the hassle of selling a product on your own. It's essential first to understand how a pawn shop works.
To make sure you make the best deal for yourself, you should know what a pawn shop is and how it works.
How Do Pawn Shops Work?
When you sell to a pawn shop, you are technically only getting a loan for the belongings. This confuses some people, so let's clarify the process.
Pawn Shop Loans
Bring your items in, and the owner will give you a price based on the amount they think they can sell it for after 30 days.
For example, take a bike that is worth $200. The pawn shop will hold the bike and give you $100. After 30 days, you can come back, pay back the $100 (plus fees) and get your bike back.
If you don't return at the end of the 30 days, the pawn shop owns your bike and can do whatever they want. Many people go into a pawn shop for a loan and never intend to return their items.
Pawn shop loans are fast and do not do things like a credit check when you need a loan. There is no credit check because they hold your items as collateral.
If you don't pay up, they then own your item. Pawn shops have significant margins and make a lot of money for themselves. After all, getting a loan this quickly without going through any credit check is almost unheard of.
What Can You Sell at a Pawn Shop?
Now you have a better idea of how pawn shops work; you may wonder what items a pawn shop will take. They take various things, but most will need to be in great shape and have the value others would seek.
In other words, a pawn shop does not want your junk. They want products that will be easy for them to sell should you not return with the loan in the 30-day window. One of the main things that you will see pawned is jewelry.
People always bring gold and jewelry made of precious metals to a pawn shop. When an engagement or a wedding goes wrong, sometimes the cash is all anybody wants to deal with. Selling jewelry on your own can be very difficult, and quick cash from the pawn shop will likely be a better deal.
In addition to jewelry, many things like phones, flatware made of precious metals, electronics, home and garden tools, and video games can be good to sell at a pawn shop.
In general, things like clothes will probably not be accepted, so bringing those to a consignment shop may be a better idea. Car batteries are another thing that you can make more money by selling them elsewhere.
Pawn Shop Price Guide
When you bring your items to the pawn shop, be prepared to receive only a fraction of whatever you think they are worth.
Pawnshops will not pay you anywhere close to the market price of your things. Most pawn shops will pay you about 50% of its total value. Understand this from the get-go, and be sure the pawn shop route is best for you. Pawn shops could fit the bill if you need fast cash and can't get a loan.
Look at a pawn shop price guide before you head in with your belongings. You may find that you are better off selling them on your own than bringing them to a pawn shop.
What Do Pawn Shops Give the Most Money For?
What are the most profitable items for a pawn shop? Many people may think they will buy jewelry, gold, and diamonds, but there is so much more to offer. Pawn shops may buy a vehicle, hogh-end jewelry, or even a piece of real estate.
However, pawn shop owners know they can profit more by reselling items like antiques and designer handbags because these higher-ticket items are in high demand.
Best Things To Sell at Pawn Shops
Now you have a better idea of how pawn shops work; you may wonder what items a pawn shop will take. They take various things, but most will need to be in great shape and have the value others would seek.
In other words, a pawn shop does not want your junk. They want products that will be easy for them to sell should you not return with the loan in the 30-day window. One of the main things that you will see pawned is jewelry.
People always bring gold and jewelry made of precious metals to a pawn shop. When an engagement or a wedding goes wrong, sometimes the cash is all anybody wants to deal with. Selling jewelry on your own can be very difficult, and quick cash from the pawn shop will likely be a better deal.
Best Things to Pawn for Quick Cash
Although most pawn shops will give you a speedy loan on the products you pawn, some will be especially fast.
Since pawn shops do this sort of thing day in and day out, there are certain products that they know they can give you quick cash for. Here are a few things that you can pawn for quick cash.
Jewelry
Probably the top seller in the pawn business. The shop will have an excellent understanding of the product that you have in your hand and should be able to give you quick cash.
Sports Equipment
Are you regretting opting for those $3000 golf clubs? Chances are you can pawn your clubs quite quickly at a pawn shop. It is easy to get an accurate value on clubs.
Consider other sporting equipment, too. Usually, the more expensive things like baseball bats, bowling balls, and bicycles will be the best sellers.
Electronics
Electronics, including old phones and laptops, can do well at a pawn shop. If you have old iPads or iPhones, you may be able to get some quick cash for them.
Check a value guide before you head into the pawn shop. Even though you paid a great deal for your electronics, don't expect the pawn shop to pay you all that much for them.
Recreational Vehicles
Sometimes, you will find that a pawn shop will give you quick cash for a jet ski or a golf cart.
These toys that people buy don't always work out, and if you are trying to move quickly or are tired of maintaining a recreational vehicle, pawn shops will help you get rid of your belongings.
Guns
Guns are very commonly pawned. There are strict regulations about pawning and purchasing guns from a pawn shop. Ensure you follow the proper regulations if you are trying to pawn a gun.
Instruments
Musical instruments are expensive, and people don't always use them for their entire lives. The combination of these two factors makes them great for a pawn shop.
Best Things to Pawn Around the House
Many people don't realize the value of some of their household items. There are many things around your house that you can sell or pawn for cash.
Housewares
Sewing machines, large mixing blenders, that lamp that you never use? The value could still be left if you paid a handsome sum for your housewares.
Some pawnshops may even take furniture; you will just want to call first before you show up with your couch and dining room table in your car.
Power Tools
Power tools can be pawned for quite a bit of money. Many people only use power tools for one or two projects and then sit in the garage for years.
If you have an old saw or drill in the garage, see what you can get at the pawnshop. Ensure the tools are in good working condition to get the most money for them.
Yard Equipment
Yard equipment is worth a lot of money when it is first purchased. If you have a lawn service now and don't need your weed eater, tractor, or blower, you can pawn them for a good bit of money.
Yard equipment is a top seller in a pawn shop and a great place to look if you need a new lawnmower.
Things to Pawn for $50
If you want to get a better idea of how much something will sell for, it is a good idea to evaluate the average prices that things go for at a pawn shop. Here are some things that you can pawn for $50.
- Laptop
- Flat-screen TV's
- Video Game Consoles
- Smart Watches
- Musical Instruments (Guitars)
What Can I Pawn for $100?
While some of the above items may also get you close to $100 in quick cash at a pawn shop, here are a few others that will reliably get you that figure.
To get $100 in cash from a pawn shop, you must assume your products are valued at $200 or more. These items include:
- Tablet
- Speakers
- Mountain Bike
- Golf Clubs
- Gun
- Jewelry
- Camera
- Hunting or Fishing Coolers
- Appliances
- Designer Bags or Coats
What Can I Pawn for $200?
Getting $200 by pawning your items is slightly more complicated than getting $100, but it requires more flexibility.
To get money for your items at this price point, you will need an inventory of anywhere from $300 to $400.
The best way to get $200 in cash is to pawn high-end items like those listed below.
- Cell Phone (new)
- Wedding Ring
- Gaming Consoles
- Musical Instruments (Drums)
- HD Camcorders
Pawn Shops Near Me vs. Online Pawn Shops
When determining if you want to work with a local pawn shop or one online, you need to watch out for the legitimacy of the business. For online, first, verify the shop is genuine. Pawn America (Cash America Pawn) is one of the most popular online stores.
A local pawn shop is best if you think you will pick up your item after 30 days. If you use an online shop, there are going to be additional shipping fees that you will want to avoid.
Local shops will charge plenty of fees for interest and processing; the last thing you need is more fees tacked on to this.
You will need to decide which option is best for your needs, but keep safety and value in mind.
Is It Better to Pawn or Sell?
There are a few things to consider when pawning or selling items. Ultimately, the decision will depend on whether or not you want to get your items back. If you do, then pawning is the way to go. This allows you to get some money upfront while retaining the option to get your belongings back later. On the other hand, selling is the better choice if you no longer want your items and want to get rid of them for good.