pawn shops open near me (2024)

FAQs

What's the most a pawn shop will pay? ›

Most pawn shops offer loan amounts of 25% to 60% of your collateral's value. Be aware that pawn shops have high APRs that can make them one of the most expensive options to borrow money. Pawn shops do not require credit checks.

If you want to get the most amount of cash, focus on jewelry with gold, diamonds, or platinum.

The series is filmed in Las Vegas, Nevada, where it chronicles the daily activities at the World Famous Gold & Silver Pawn Shop, a 24-hour family business opened in 1989 and originally operated by patriarch Richard "Old Man" Harrison, his son Rick Harrison, Rick's son Corey "Big Hoss" Harrison, and Corey's childhood ...

Don't Be Afraid to Haggle

Haggling is a common practice when it comes to pawn shops, so don't be afraid to negotiate. Start by making an offer that's slightly higher than what you're willing to accept, and be prepared to meet somewhere in the middle.

In general, you can expect to receive about half of your item's market value in your loan. However, this depends on the item. Items that are regularly pawned, yet don't have a lot of buyers will lower the offer price. In those cases, you will receive less than 50% of the market value.

Pawning or selling is a personal choice. It boils down to two options: wanting to get items back or not wanting them back. If customers want their items back, then pawning is the best option. But if they want to get rid of their items, selling is the better choice.

It really depends on the pawn shop, but typically you can expect anywhere from $100 to $200 for a PS4, assuming it's in good condition and comes with all the cables and a controller. Win official PlayStation gift cards by playing games on Playbite!

Another benefit of selling something to a pawn shop instead of getting a pawn loan is that you typically receive more money for the item. The pawn shop will determine the value and make you a slightly lower offer. After all, it still needs to sell it to make a profit.

All the scenes you see on the show are pre-acted out, a well rehearsed fake show where the Pawn Stars only act out their purchases. Very little is really bought, it's acted out to create the series.

It's on tv, so it's worth stopping by, but at the end of the day, it's still just a pawn shop. If the line is small, stop in. If it's long, you aren't missing much by passing it by. Don't look for any of the cast to be there.

What did Pawn Stars plead guilty to? ›

Known as Chumlee to TV viewers, Austin said he would plead guilty to both the felony weapons charge and a misdemeanor attempted drug possession count. This plea deal will put him on 3 years' probation with counseling.

Pawn stores usually pay the most for jewelry like diamonds and gold, timepieces, coins, vintage sneakers, designer purses, and handbags. However, every pawn shop can buy high-ticket items, including vehicles, real estate, and jewelry.

How Pawn Shops Work. At a pawn shop, you leave your property and, in return, the pawnbroker typically lends you approximately 25% to 60% of the item's resale value. The most commonly pawned items are jewelry, electronic and photography equipment, musical instruments, and firearms.

Offering low-ball prices helps sellers get quick cash and the pawn shop large profits. Because the loans and purchase prices offered by pawn shops are usually small, pawnbroker businesses require a low amount of start-up financing from entrepreneurs.

At a pawn shop, you leave your property and, in return, the pawnbroker typically lends you approximately 25% to 60% of the item's resale value. The most commonly pawned items are jewelry, electronic and photography equipment, musical instruments, and firearms. The average amount of a pawn shop loan is about $75–$100.

Get slightly more money for your valuables

When selling, rather than pawning, assets, you will be seeking full market value for your item. For pawn loans, the loan amount is usually a percentage of the total value of the asset. This is known as the loan to value or LTV.

“The stereotypes for pawn shops exist for a reason: You will get very low value on your items if you go to a pawn shop,” he says. “In fact, you can expect to be offered no more than $20 for a $100 item. While this could seem appealing in a financial emergency, the amount of money you'll lose is simply not worth it.”

Earning interest on loans and profits on retail sales are the principal income sources for the standard business model for a pawnshop. Pawnshopsg typically aim to generate overall net profit margins of at least 15% to 25%.