5 Things Not to Sell to a Pawn Shop - Las Vegas Pawn (2024)

FAQs

What not to sell at a pawn shop? ›

Across the board, jewelry (authentic, real jewelry - not costume jewelry) generally yields the most amount of cash. This is because jewelry is made from precious metals, such as gold and platinum, and often incorporates diamonds and other precious gemstones. Jewelry also tends to hold its value over long periods.

Most pawn shop loans require that you pay the loan back within 30 days or else the item you used to secure it becomes the property of the pawn shop. In many cases, that 30-day time frame can be extended for a month or two, but extensions often mean the terms of the loan change.

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.

The pawn may capture either the rook or the knight, but not the bishop, which blocks the pawn from moving directly forward.

Pawn shops usually will not accept items that are clearly replicas (such as fake designer purses). They also do not typically accept clothing or books, unless they are very valuable, such as a first edition or signed copy of a popular book. Items should be in full working order when you bring them to be pawned.

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.

You could get a few hundred dollars for a newer laptop, with a good processor, and that is in good condition. Or you might have a pawn shop tell you that they can only give you around $50 if the laptop is in poor condition, old, or not that powerful.

The fifty-move rule in chess states that a player can claim a draw if no capture has been made and no pawn has been moved in the last fifty moves (for this purpose a "move" consists of a player completing a turn followed by the opponent completing a turn).

What do I need to know before going to a pawn shop? ›

Pawn Shops Are Regulated

Before choosing a pawn shop, be sure they are registered with the National Pawnbrokers Association (NPA), and check with your local Better Business Bureau to see if there are any complaints against them.

For example, dealers in jewelry, furniture, boats, aircraft or automobiles; pawnbrokers; attorneys; real estate brokers; insurance companies and travel agencies are among those who typically need to file Form 8300. Tax-exempt organizations are also "persons" and may need to report certain transactions.

If you are sitting on some top-quality brands, they will bring the highest prices. Shops know they can sell tools faster (and for more money) when they are trusted brands. Bosch, DeWalt, Milwaukee, Stihl, and Snap-On will earn you the most.

If you are in a position to wait for the maximum payout, then selling may be more beneficial than pawning. On the other hand, if you need cash quickly with no long-term commitment, then pawning may be the better option.

Items such as fine jewelry, collectibles, coins and firearms can be worth a lot of money at a pawn shop.

Shops know they can sell tools faster (and for more money) when they are trusted brands. Bosch, DeWalt, Milwaukee, Stihl, and Snap-On will earn you the most. Usually, pawn shops will pay anywhere from $30-$200 for working tools, but you can expect that price to increase if you have any of these top performing brands.

Many pawn shops do accept vacuum cleaners as items to pawn or sell, but acceptance and value can vary depending on factors such as the make and model of the vacuum, its condition, and the demand for similar items in the pawn shop's market.

With pawn shop loans, you stand to lose the item you left with the pawnbroker if you default on your loan. Depending on what you put up for collateral, that could be a big loss for you.