Why not all Pawn Loans are the Same
Why is it that you can take the same item into two different pawn shops and be offered pawn loan amounts that vary so widely? No one would be surprised by a small $5 difference but often the pawn loan amounts or sale prices are much different between two different pawn shops.
Oftentimes the consumer’s first instinct is to believe the pawnbroker offering the lower amount is somehow being dishonest or greedy. However, this is not likely to be the case. It is more likely that the pawnbroker offering the lower price simply does not frequently sell the type of merchandise you are looking to sell or get a pawn loan for. How do you decide which pawn shop is going to be the best for you? It’s the consumer’s job to do a little research before taking valuable items to any pawn shop.
If you have a Rolex watch you want to sell you need to look for a pawn shop that frequently sells high end watches, like Modell Collateral Loans. Your goal is to find a pawn shop that specializes or frequently does business in the merchandise you have. Your Rolex watch will be worth a lot more to a pawnbroker who sells a lot of Rolex watches.
In this pawnshop the pawnbroker will be confident that they can not only resell your watch for a profit but they can do so within a reasonable amount of time. These are the two most important factors to a pawnbroker when deciding on whether to take an item and how much they are willing to pay for it.
Now that you know why offers can differ so widely from store to store you know why it’s important to do your homework when it comes to working with a pawnbroker. If you are selling or taking out a pawn loan you want to get the highest dollar amount you can. This comes with choosing a reputable pawnbroker who has the experience to accurately assess the value of your merchandise and the right clientele to resell your item to for the profit margins they are looking for.