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How to Earn a Profit When Selling an Expensive Item to a Pawn Shop

earn profit selling pawn
Selling high-end, expensive items to a pawn shop is an especially effective way to make some quick cash. Not only are such items worth a lot, but they also tend to sell faster in pawnshops than things that can be bought brand-new for relatively little. If you're selling an expensive item to a pawnshop, however, you should know how to get as much as possible for it.
Clean Your Item So it Looks its Best
Whenever you sell an item to a pawnshop, you should first clean it so that it'll be presented in the best light possible. Polish a piece of jewelry. Use compressed air to clear dust from the outside and inside of an electronic. Wash the upholstery and wood on a piece of furniture. You should do whatever you can to make your item look clean and well-cared for.
You want your item to look as good as possible for two reasons. First, a great-looking item will have a better first impression on a pawnshop broker. Second, it'll also be ready to immediately put up for sale. For brokers who negotiate quickly and need to move inventory, both considerations are important.
While any item you bring into a pawnshop should be cleaned, expensive items are especially important to clean. If your item is in good condition cleaning it will help it look its best and could result in a slightly higher offer.
Consider Getting a Third-Party Appraisal
If your item's value is high enough, you may want to invest in a third-party appraisal by a qualified professional. An appraisal can provide common ground for the negotiations you have with a pawnbroker.
It doesn't always make sense to pay for an appraisal. For example, a jewelry appraiser usually charges between $50 and $150 per hour. You probably don't want to pay those rates if you have a necklace that's only worth $200. This premise holds true for electronics, furniture and other items.
When bringing in an item that's worth hundreds or thousands of dollars, though, an appraisal can benefit both the pawnbroker and you, because the pawnbroker will have a guarantee that they're getting a genuine item and you'll feel confident in the offer you're receiving.
Set Realistic Expectations
If you do invest in an appraisal, you still need to have realistic expectations regarding how much a pawnbroker will offer for your item. Pawnshops need to earn revenue, and since they are reselling your item they probably can't afford to pay the full retail value of items.
Exact payments vary from shop to shop and depend on what you're selling. In general, you can expect to receive between 40 and 60 percent of jewelry's value. Your item's condition, the shop's current inventory and customer demand will all affect your exact offer.
Bring Any Additional Documents You Have
Should you have any supporting documents for your item, bring them with you to the pawnshop. These may include:
  • Receipts
  • Certificates of authenticity
  • Old appraisals
  • Original packaging
  • Warranty information (if under warranty)
In some cases, items like these won't do much to increase a pawnshop's offer. Other times, though, such supporting documents both validate your claims about your item and increase the items overall value. In a few situations, the right supporting documents might make a collectible item worth more money than it would be without the documents.
If you have an expensive item you'd like to sell to a pawn shop for cash, contact the pawnbrokers at 2 J's Pawn & Gun. These experienced pawnbrokers are established, and they'll give you a fair deal on any items you sell to them.