While many pawn shops may focus on accepting and selling specific items like jewelry, guns or musical instruments, most offer a wide range of used items. But before these items are considered for pawn, pawn brokers first take into account a number of factors to determine value—including what the item is, the condition of the item and sometimes even the reason why someone is selling. To get an idea of current market value, pawn shops often use in-house experts, consult third-party appraisers and check the internet for information.
As a customer, you should know how the pawning process works. Why is it important to go into a pawn shop in Barberton, OH to determine pawn value? How do pawn brokers decide the value of an item? Let’s find out!
Bring in your item
Whether you’re new to pawning or have done it before, it’s important to know that pawn brokers prefer that you walk your item in to their shop for a proper value assessment. Businesses like Sydmor’s Jewelry and Pawn Shop encourage people to come into the establishment, because pawn value cannot be determined or guaranteed over the phone. Seeing the item to be pawned, holding it and looking it over is how a pawn shop is able to give you an accurate value. This is how you’ll receive the best deal possible.
How value is determined
When it comes to determining the value of a given item, pawn brokers take a variety of factors into account:
- Common merchandise: If a pawn shop in Barberton, OH is non-specialized, then they regularly buy and sell a wide range of items. These shops have general merchandise like electronics, jewelry, antiques, tools, musical instruments, sports equipment, DVDs and video games. All items in each category of merchandise have their own current market value, which is assessed based on the age and condition of the item and whether it comes with packaging and/or accessories. Additionally, a pawn broker could also consider economic trends to determine whether an item is likely to be in demand in the near future.
- Gold and other jewelry: Most all pawn shops are in the business of selling antique and modern jewelry made of precious metals and stones. As this is the case, it’s likely that the shop’s owner or an employee will be an expert in making jewelry appraisals. An expert’s knowledge includes having a familiarity with diamond cut and clarity and the carat weight of stones and gold. They also keep up on the current rate of gold, silver and other precious metals. However, because rates change throughout the day, pawn shops do not place a fixed minimum value on jewelry.
- Personal circumstance: Although pawn brokers are trained to determine the value of items based on numbers, most shop owners allow themselves to be flexible and consider will sentimental value. Some pawn brokers may take the seller’s or borrower’s personal circumstances into consideration, sometimes offering a higher price for an item with special family meaning.
If you are curious about the value of an item you want to pawn, feel free to bring it in to Sydmor’s Jewelry and Pawn Shop in Barberton, OH!
Categorised in: Pawn Shop
This post was written by Writer