If you’re in a pinch and need to scrounge up some funds immediately, there are several options you can explore. But when no friend can assist you or your bank requires too much paperwork, there is the pawn shop to consider. A quick search on the web and you see guides on how the process goes, but there’s still one question you keep asking yourself, what items can you pawn?
Generally, these shops will accept anything that is in demand locally. You could say that different stores buy different things. One may be looking for precious stones while another may be more interested in celebrity memorabilia.
Fortunately, there are a few valuables that most pawnbrokers simply can’t refuse. In fact, the moment they see these items coming through their doors, they get drawn to them like flies to meat. Here are top items pawn shops drool over.
Best Items to Pawn for $100
Video Games and Consoles: Avid gamers who want to earn a couple of bucks and get rid of some of their used games at the same time can sell their copies to pop shops. Many stores carry a small to moderate collection of games for Nintendo, PlayStation, and XBOX. However, most used games depreciate faster than other electronics due to the abundance of both new and used copies.
For $100, you should expect to give up more than five games, preferably popular titles like GTA, Call of Duty, Halo, Uncharted, etc. If you don’t mind selling your game console, you can make that $100 much quicker.
Smartphones: These handy gadgets have become a necessity for everyday life. Today, it’s not uncommon to see seniors and children using the latest models. Still, new smartphones costing more than $500 are out of reach for some people. As a result, a sprawling, hand-me-down market has emerged and pawn shops are at the center of it. You can sell your used LG, iPhone, or Galaxy S smartphone to a pawnbroker for a couple of hundred bucks.
Best Items to Pawn for $500
Watches: A watch is unlike any other piece of jewelry. In fact, it is one of the first things a woman notices on a man. This accessory has the ability to capture and encapsulate everything a person represents in less than half a pound. Because of men’s fascination with sophisticated watches, many retailers can charge top dollar for certain pieces. It is little wonder commercials about them seem so majestic.
Pawn shops are in love with these items. You can expect a good amount of money for your luxury watch. Popular brands like Omega, Movado, Rado, and Breitling can easily fetch $500 at a pawn shop. Other high-end brands like Hublot, Rolex, IWC, Panerai, and Ulysse Nardin can fetch well over a thousand bucks quickly.
Best Items to Pawn for $1000 & Up
Jewelry: There is a high demand for jewelry, which makes it a safe bet for pawnbrokers. Many people get their jewelry from a pawn shop and consider it a great alternative to a jewelry store. That makes buying these pieces more rewarding for pawn shops, especially when they know they can earn a good markup on the price and still remain extremely competitive.
Diamonds and Gems: If you’ve seen an action movie made in the last five decades, you’ve probably noticed an old movie trope where the bad guys lust over a handful of stolen diamonds. It is easy to recognize scenes like these as diamonds represent luxury and pawn shops do not say no to these valuable pieces.
You could be looking at $100 and $600 per carat for diamonds that are bigger than .25 carat weight. But of course, this also depends on the clarity and color of the jewel. If your piece is larger than 1.01 carats then its value may surge dramatically.
You can expect to be paid around $3000 to $10,000 per carat weight if you have a single stone that’s over three carats and is also colorless, clear, and not enhanced artificially. Pawn shops love to get their hands on larger, higher quality diamonds because they can easily sell them to collectors, consumers, and other brokers.
These days almost every other commercial on television promises quick cash for your gold. Since its value has nearly doubled in the past decade, gold remains on the top spot for items you can pawn. Like many other precious metals, gold is starting to become the best asset to hedge against inflation. This is why trading valuable metals is a huge business for pawn shops.
Precious metals such as platinum, gold, and silver are by far the straightforward items to pawn for quick cash. They give pawn shops a unique set of advantages that most items can’t. First of all, they can be converted into cash easily. Aside from the fact that these items appreciate over time, there are third parties that monitor them closely and making it convenient to appraise their value in real-time.
Sell At Biltmore
Whether it’s for your startup or medical emergency, Biltmore Loan and Jewelry offers a safe environment for you to sell your valuables. Unlike shady pawn shops where you run the risk of being scammed or not getting your item back, Biltmore is a reputable professional purchaser of high-value assets that you can trust. What’s more, we accept almost anything you own.
With more than 30 years in the field, you are guaranteed with the best and most competitive prices you can find on the market today. Better than a pawn shop and friendlier than a bank, Biltmore can help you get out of your financial jam in no time.