3. Pawn shops are much less frightening as you believe

A Cartier view is presented in a pawn store in Beverly Hills, California. | Gabriel Bouys/AFP/Getty Images

Pawn stores don’t precisely have actually the best reputation. They’re seedy and a bit scary, run by creepy-looking guys, and filled with desperate customers in many people’s minds. But those pawn shop stereotypes aren’t grounded the truth is, based on Birnholtz.

Pawnshops “are perhaps not the happiest destination on Earth,” Birnholtz admitted. Nevertheless the industry has washed up its work in current decades. “I genuinely believe that the degree of professionalism and cleanliness and solution has improved really significantly when you look at the pawn industry within the last 30 or so years.”

Head to a pawn store today, and you’re likely to locate your self in on a clean, well-lit store, stocked with quality utilized merchandise. Some are also looking at Instagram to market their luxury products. Therefore the idea that pawn stores are filled up with components of questionable provenance? It is simply not real, in accordance with industry teams, whom say not as much as 1% of things individuals attempt to pawn grow to be taken. Genuine pawn stores check ID and make use of law enforcement to be sure the things they’re selling aren’t stolen home.

4. It is maybe not like that which you see on Pawn Stars. Rick Harrison from Pawn Stars examines an item of precious jewelry.

| Ethan Miller/Getty Images

Pawn stores may possibly not be the dens of vice some think they have been, but they’re also not exactly like that which you see on television shows, such as for instance Pawn Stars. The mega-popular Channel that is history program pawn stores in to the limelight and helped normalize pawning, Birnholtz stated. The scenes the thing is that from the show, but, are not likely to relax and play call at town pawn store, which can be almost certainly going to be stocked with gold jewelry, electronic devices, and carefully utilized instruments that are musical unusual stone memorabilia or Star Wars collectibles.

Pawn Stars is “not always representative of just exactly exactly how many people utilize pawn stores simply because they deal in actually, really specific things,” Birnholtz said. “They’re a shop that is big probably very good margins, for them to afford to spend a bunch of money for many unique items. Whereas pawn shops that are most can’t accomplish that.”

5. Pawn offers vary — a whole lot

A pawnbroker and a client | PawnGuru

Every pawn shop would offer to loan you roughly the same amount of money for the same item in a perfect world. In fact, that is maybe not how it functions. The common distinction between the best and bid that is lowest for similar product at various pawn stores had been 258%, based on information collected by PawnGuru in 2015.

That vast disparity in loan offers ended up being one explanation Birnholtz created PawnGuru.

in the place of investing time visiting various pawn stores to have the deal that advance financial 24/7 hours is best (or unknowingly settling for the low-ball offer), individuals is now able to go online, share the item they wish to pawn (or sell outright), and acquire quotes right back from neighborhood pawn stores. “That gives individuals the ability to negotiate with numerous stores at the same time to find out what type is clearly planning to provide them with the most readily useful deal,” he said.

6. You’ll pawn just about anything

Interior of the pawn shop | PawnGuru

Firearms and silver could be a number of the more typical products individuals think about pawning if they require some dough, however in concept, you are able to pawn most situations. You simply want to look for a pawn store that thinks it might be in a position to offer your material. Different shops focus on various kinds of things, that is one explanation to search around utilizing PawnGuru. Don’t assume all shop could be enthusiastic about just exactly just what you’re offering or have the information to offer a price that is fair.

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