How much money will a pawn shop give me for my item?

The famous three gold balls sign of a pawnbroker's shop, above a street in Great Yarmouth, Norfolk, eastern England.

Everyday, millions of Americans bring items of value into pawn shops in order to secure much needed collateral loans. Customers of pawn often use loans to help pay the rent, utility bills or keep their cars running with a full tank of gas. Business owners are known to turn to collateral loans in order to cover running costs or employee paychecks.

If you are looking to secure a pawn loan to meet your financial needs, you may be wondering, “How much will a pawn shop give me for my item?” At Modell Loans, we have expert appraisers and GIA Certified Gemologists on staff to make the most accurate appraisals possible, so you can rest assured that you’ll be getting the most money for your item.

Before you bring your item into us, it’s important to know some of the factors that may affect how much money a pawn shop will give you for your item. While there can be several factors that affect the final appraisal amount – depending on the item you wish to pawn – there are three general points to consider:

1. The item’s resale or wholesale value – Precious metals, gems and jewelry tend to retain their value and can even increase in value over time. At Modell Loans, we deal mainly in gold, diamond and platinum jewelry, which means we have some of the most skilled metallurgists and GIA Certified Gemologists on staff to conduct the proper testing and inspection. Electronics, CD players, computers, etc. tend to lose their value over time. Consequently, the resale value for these items will be considerably less than their retail value.

2. The item’s current condition – Is your item in good working order? Has it been gently-used and handled with care? If there are any cracks or broken/missing parts, this may reduce the amount of money you are offered. Be sure to bring any accessories, documentation, or parts associated with your item.

3. The ability to resell the item – If an item is in poor condition or simply not in demand on the market, a pawnbroker may not be able to easily resell your item if you choose not to pay back your loan. This will cost the pawnbroker more money over time to securely store the item.

At Modell Loans, we work with our customers to get them the most money possible for our items. If you have any questions before you visit one of our 7 convenient locations, please feel free to contact us by phone or email.