Pawn Shop Benefits For The Buyer And Seller
Pawn Shop Benefits
Pawn shops have been around for quite some time, but they have received a bad rep over the years for ripping off consumers with their poor loan systems and unfair payments for gold or silver. The truth is, much like with anything else, there are good pawn shops out there and bad ones, it is up to you to know how to pick them. A bit of research goes a long way, and a great pawn shop does offer a number of advantages from the buyer’s and the seller’s point of view.
Pawn Shop Benefits For The Buyer
As a buyer, it makes sense to shop around in order to get a good deal, and oftentimes, when it comes to finding unique, interesting, and valuable objects, pawn shops offer a wide array of treasures to choose from. Anything is possible in a pawn shop, and since the brokers are looking to make money by selling items off as quickly as possible, you can certainly get a good deal on many products.
One of the advantages of purchasing a pawn shop item is that you can rest assured that gold, silver, platinum, as well as gemstones have been looked over with the eye of a professional. Pawn brokers never purchase fake costume items, and this can be to your advantage.
It is not unheard of to find beautiful one-of-a-kind heirloom pieces of jewelry for as little as a few hundred dollars. These items are not your average jewelry pieces you can find at any old antiques shop or mall jewelry store– these are pieces with a history!
The homework has been done for you and only quality items are displayed in a pawn shop. As was mentioned, since pawn brokers want to make sure that they only take in items they can turn a profit off of quickly, it makes sense that they only sell quality.
If you’re looking for a rare or interesting item, your local pawn shop is likely to have it. Additionally, pawned items make beautiful gifts for your loved ones, and they won’t break the bank.
Among the pawn shop benefits, you will also find that there are plenty of worthy precious metals worth investing in. Even if you don’t find an aesthetically pleasing piece of jewelry for yourself or a loved one, the piece may still be worth buying as an investment. Items of all quality levels are stocked, so even on a tight budget, you can get something for your money.
Pawn Shop Benefits For The Seller
In this day and age, due to the economy, paying your bills on time is not an easy task. Oftentimes, you can easily get behind on rent, rack up credit card debt, and natural disasters can wreak havoc on your home. These costs are all additional, and oftentimes, you just don’t have the means to pay for them. What can you do?
Pawn shops provide the perfect loan system if you’re broke, but have valuable jewelry, coins, or other antiques to pawn. Usually, a broker will assess your items, assign a value, and if you agree to their terms, you can get a loan for the amount your items were assessed at.
You get a certain amount of time to pay back your loan, and if you do, you get your item back. However, should you not pay back your loan, you keep the money, but completely forfeit your item in which case it will be sold at the assessed value.
Many people find getting a loan from a pawn shop much easier than a traditional lender. For one, your employment status and credit report are not looked at, nor are they held against you. At the end of the day, the pawn shop broker does have collateral to cover the costs of your loan, so essentially they lose nothing if you’re unable to pay back what you owe.
Another reason to opt for this method of getting a loan is the ease of receiving money. The moment your item(s) are assessed and a value is assigned, you can get money right away. This means that in the case of an emergency, you can receive money without having to worry about getting turned down by a traditional banking institution.
You don’t actually have to get a loan in order to sell an item to a pawn shop. In fact, pawn shops are always on the lookout for new merchandise to stock their shelves with, so it’s always worth selling an item that you’re willing to part with.
Most commonly, pawn shops are interested in purchasing scrap precious metals and you’re paid a certain amount for the weight of the jewelry or metal pieces you’re looking to sell. The weighing is always done in front of you by a professional, so you can rest assured that you’re not being lied to.
Though precious metals are at the heart of every pawn shop, you will be hard pressed to find a shop that doesn’t also stock things like expensive books, comics, jewelry, coins, stamps, or other collectibles that avid collectors are constantly seeking. You can put money in your pocket and ensure that an item you’re no longer in need of goes to a good home.
Some people don’t think that pawn shops are fair, but you have to consider that they’re business people just like everyone else. When you give an item, you get back a reasonable amount of money!