Not All Items in Pawn Shops Are Used! Here Are the Facts

November 29, 2018 10:57 pm Published by Leave your thoughts

Contrary to popular belief, not all items sold in pawn shops are used or pawned. However, the desire to offer new merchandise will vary from shop to shop. The thing is that plenty of experienced pawn shop owners want to offer a wide selection of merchandise to their customers, while other shops are more niche, selling just one or a few select products (like jewelry, guns or musical instruments). To do this, a pawn broker in Barberton, OH might decide to sell not only used items, but new items as well.

Now that you know a majority of pawn shops sell both new and used items, let’s take a look at a few other interesting facts about pawn shops.

Fact #1: You’re not purchasing stolen goods

The movies often depict pawn shops as back alley businesses willing to buy merchandise without question. In real life, if you purchase items from a licensed and reputable shop, the odds are very good that they’re legit and above-board. Pawn brokers go through a lot of paperwork to ensure that they are not buying stolen property—and they do this to the best of their ability. The process may go like this: A pawn broker agrees to buy an item. The next step is to make careful record of the purchase, which includes making a copy of the customer’s provided identification. Sometimes a shop will require fingerprinting. All this information goes to the police for reference.

Fact #2: Some items are pawned more often than others

Everyone is looking for a good deal, and pawn shops are no exception. If a customer comes in with a product of value, they will consider buying it. It’s important to note that some shops operate on a specialty basis, meaning they might only accept certain items like firearms or tools. Hands down, the most popular items pawned are jewelry, mostly because metals like gold and silver and precious gems hold their value well. The best pawn brokers stay up on the fluctuating nature of market values, but understand that some customers intend to reclaim pieces of sentimental value.

Fact #3: Customers can reclaim items

Just because you pawned it doesn’t mean you won’t get the chance to get it back. People walk into pawn shops every day with the full intention of coming back to reclaim items they’re planning to pawn for fast cash. But there’s an interesting side to pawning for cash loans: you can be a repeat customer, pawning and reclaiming the same item multiple times over. In fact, the majority of transactions in pawn shops are done by repeat customers. It’s good business for the pawn broker, and the customer gets the cash they need.

If a pawn broker in Barberton, OH decides to sell new products alongside used items, then their customers will have a great deal more to choose from when they come in. Just so you know, Sydmor’s Jewelry and Pawn Shop has new and used merchandise available all the time. Call us today or visit our store and browse our inventory!

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