If you are considering taking something of value to a pawn shop, whether you plan to get a pawn loan or sell it, you are probably wondering how the pawnbroker is going determine the value of your collateral.
Most pawnbrokers have knowledge in a wide range of valuable objects including electronics, jewelry, antiques, and musical instruments. At Modell, we deal mainly in gold, diamond and platinum jewelry, as well as high-end, pre-owned watches like Rolex, Cartier and more. We deal regularly in these types of items and have a pretty accurate idea of how much those items are worth, their resale value, and whether or not those items are popular on the market today.
To properly appraise an item, pawnbrokers use every tool at their disposal, including metallurgic testing, examining gemstones under magnification, weighing your items on scales that are regulated by state authorities, and more. We also examine documentation and certifications that accompany your items of value.
In order to help you get the most money for your item, you should always do some research first. It’s important that as a pawn shop customer you realize you may not get the market price for your item whether you are pawning or selling. Remember, your pawnbroker has very specific knowledge that includes more than what can be found on the internet. That doesn’t mean, however, that you aren’t free to bargain. There’s always wiggle room when it comes to pawn shop negotiations.