Pawn Loans: Why do cash amounts vary at different pawn shops?

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

Many people wonder when they take out a pawn loan if they could have gotten more cash at another pawn shop. The answer to that question is yes. In fact, it’s quite possible you could have gotten a lot more money from a different pawn shop. This does not mean that pawnbrokers who offer lower pawn loan or sale amounts are dishonest. It’s quite the opposite.

In fact, it is much more likely that they don’t believe they can quickly and easily resell the item you brought in for a profit. For example if you are trying to sell an electric drill at a pawn shop that simply does not sell a lot of power tools, you are going to get a much smaller offer. However, if you take your drill to a pawnbroker who specializes in power tools, they will see more value in your item.

Your offer will be higher, because in that pawn store your electric drill will sell faster and for a higher profit. This simple concept highlights for the consumer the importance of doing your homework when you need a pawn loan or when you want to sell your valuables.

For instance, if you have diamond jewelry, antique estate jewelry or gold you are looking to sell or get a pawn loan on, look for a pawn shop that specializes in jewelry. A pawnbroker who specializes in jewelry will have both the knowledge to accurately assess the value of your jewelry in addition to the ability sell your jewelry for a higher price which in turn will net you more cash.

Modell Collateral Loans, specializes in diamond and platinum jewelry. When you pawn with us or sell, you know you’ll be getting a competitive offer! Look for the location closest to you here: