Our Pawn Shop Buying Process

A pawn shop is one of the few places you can get some cash quickly and consistently for a huge variety of your used items.

This article explores the process of you selling one of your used items. This way, you know exactly what the process looks like and what to expect.

Your Expectations For Our Pawn Shop

Much like a pawn, it is important that we figure out quickly if we are going to be close to the price you are expecting. Sometimes people come in with items hoping for several hundred dollars more than they are actually worth in value.

Our pawn shop will try and get a quick general ballpark figure of what you are expecting before we spend a ton of time determining what we think we can do. If we are going to be dollars and dollars apart, it isn’t worth our time going to the next step.

If it seems like we might be close enough to reach an arrangement, we move to the next step.

Research

We use a variety of online tools and membership sites to determine the used market value and demand of the exact item you have – including its condition. If something cannot be found on the used market, one of our team members will do their own research and use their knowledge of the market and how much we think we could sell it for.

Once we determine a price that we think is fair based on our research – our pawn shop will make you an offer. We try and make offers fair from the start. It isn’t fair or honest to our customers if they never know when they should try and negotiate a lowball offer or not (and many people will just accept lowball offers without knowing it).

So we don’t play that game – we try to be as upfront and honest in our research and offers as possible.

This means that normally our first offer is our best and final offer – especially if we researched the item thoroughly.

We generally offer a little bit more on a buy than a loan because on a loan, if we do ever take ownership of the item, it will be at least 90 days down the road before we can sell it. On a buy, we can sell your item after holding it for 10-15 days.

Once we agree on the amount we can buy the item for – we move to the next step.

Testing

Our offer of course assumes that the item works properly and all the attachments are there. At this stage of the buying process, we thoroughly test your item to make sure it is working properly. If the item fails our testing, we won’t buy it. If it passes – we move to the next step.

The Sale

To complete the sale you must be at least 18 years of age and present a valid license or photo ID. You sign a slip transferring legal ownership of the item to the pawn shop and we give you cash in return. After the sale, the item is placed on our holding shelf and we take 10 to 15 days to make sure the item hasn’t shown up on any recent police reports as stolen.

After it clears, we price the item and sell it.

We hope this has been helpful!

If you have other questions, be sure and use our contact  page to get in touch with us.

2 thoughts on “Our Pawn Shop Buying Process

Leave a Reply

Your email address will not be published.

2 × three =