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Do Pawn Shops Loan Money on Electronics?

Do Pawn Shops Loan Money on Electronics?

by | Nov 15, 2018 | Blog

When you need quick cash, a reputable pawn shop near you is a great place to work with. The strict regulations that pawn shops operate under in California make them a safe bet for your business. More and more people are turning to pawnshops to meet their financial needs, and your local pawnbroker is in a position to help you.

If you are considering pawning some of your property for cash, you will get more money if your items are in-demand and saleable. Pawnshops in your area are there to help their communities, but they must also ensure that they will be able to sell items at a profit if the pawned articles go unredeemed.

Electronics are smart things to pawn if you find yourself in a financial pinch. In-demand electronics in excellent condition are among the handful of items that all pawn shops can use. However, not all electronics will fetch similar payouts. Keep reading to find out what factors affect how much you can expect for your electronics at a pawn shop near you.

First, keep in mind that unlike other frequently pawned items, such as jewelry or tools, electronics do not retain their value over time. A two-year-old tablet is worth only a fraction of what a six-month-old tablet is worth. Your local pawnbroker must take into consideration that an older electronic will be difficult to sell if its ticket is not redeemed.

More than any other pawned item, electronics require a pawnshop to stay on top of the news on both the marketplace and general technology trends. Introduction of new models and innovations in technology can render an item obsolete seemingly overnight, causing prices and demand to plummet. However, some brands, like Nikon and Apple, retain their value longer than others, even for older generation models. Brands like these may be more useful to your local pawnshop and will get you more money.

What factors affect how much money i can get for my electronics?

Age and Condition

Generally, pawnshops prefer electronics that are no more than two years old. Items older than two years old are risky for a pawnshop to purchase, as it means that the article may soon be outdated, if it isn’t already.

Also, electronics in good condition are easier to sell than chipped, stained or otherwise cosmetically damaged items. Even if your article works perfectly, a blemished product will affect how much your pawnbroker can charge for it.

Completeness

Customers expect that electronics come with as much original packaging as possible, including chargers, manuals, cables, and accessories. Electronics that come with such peripherals will command a higher price than those without. For example, a video game console with its controllers, cords and maybe even a handful of games, will be easier for your pawnbroker to sell than a console by itself.

Customer Relations

Pawnbrokers like to stay on good terms with the members of their community. Repeat customers who repay their loans on time are likely to get more for their item because they are considered a low-risk customer to their pawnbroker.

Customers that your pawnbroker has never seen before, or who have earned a history of non-payment may be considered a risky bet and may not get top dollar for their electronic item.

So now that you know a little about what factors may influence how much you can expect for your electronic, here are some tips on selling your electronics at your local pawn shop.

How do i sell my electronics at my local pawn shop?

Find out if your item is in demand

Check out what items like yours have recently sold for online to get an idea of how much you can realistically expect your local pawnshop to pay for your article. Online sales will tell you and your pawnbroker about the national demand, which will help set a baseline for how much you might receive for it. If your old electronics aren’t in demand online, chances of a big payout for you will be slim.

Clean it up

If your item is popular, you’re in luck. The next step is to clean up your piece. The closer to new that you can make your electronic look, the less work your pawnbroker will need to do to get in shape to sell, which may be reflected in the price that you are offered.

Test it out

It should go without saying that your item must work as expected; be prepared to demonstrate to your pawnbroker that your electronic is in excellent working condition.

If your electronic item does not work, it is worth little else than as a paperweight unless it can be sold for parts.

Collect all the parts

Having all the cables, manuals and accessories that go with your item will get you a little more money than the thing by itself. Whatever you, and by extension, your pawnbroker can add to the bundle will increase its perceived value to a potential buyer.

At the pawn shop, be prepared to:

Show your ID

Pawnbrokers in your area are careful not to purchase stolen items. As a security measure, they will require legal identification from you before they will consider extending an offer. Be sure that your ID has not expired and that it contains current information. If your ID does not have your current address, you should consider bringing along a piece of business mail less than thirty days old as a show of good faith that your local pawnbroker is reputable.

Negotiate a little

While it will depend on the item, your local pawnbroker has a little wriggle room when it comes to electronics that are new or in high demand. Do not take advantage of it, but keep in mind that pawnbrokers are willing to work with you to find a solution that satisfies everyone.

Understand your pawnbroker’s position

Most local pawnbrokers like Central Mega Pawn are experts in their communities; they know what will sell better in Ontario than in, say, Upland, Chino, or Pomona. Don’t take it personally if they decline your item or offer less than you expected. You can either negotiate or ask where they think you might get more for your money.

For more information feel free to contact one of our pawn professionals at 909-627-9622

Finding Antiques at a Pawn Shop Near You

Finding Antiques at a Pawn Shop Near You

by | Nov 2, 2018 | Blog

Antiques are a significant investment. Not only do they add character to any setting they’re put into, but they can also be handed down as they grow in value. From small items, like trading cards, to large pieces like furniture and weapons, there’s an antique out there for every individual taste and interest.

Once you have decided on what to collect, the next step is figuring out where to find items to add to your collection. In the past, buying, enjoying and investing in antiques was mainly for the well-off. If you didn’t inherit your antiques, you had to go through brokerage houses or private dealers, who tacked on hefty fees and commissions.

However, the playing field is now more equal than ever. Forget scouring estate sales or visiting brokerage houses – the best place to find antiques to buy is at the pawnshops in the Ontario, Chino, and Pomona areas.

Why Buy Antiques at My Local Pawn Shop?

Obviously, you want to avoid paying more than necessary, and you want to ensure that the pieces you buy are genuine, and a right fit for your collection.

Most merchandise that can be found at your local pawnshop is deeply discounted. Also, pawnshops in your area do everything they can to ensure that everything in the shop is genuine. As a buyer, this works to your advantage, reducing the risk of overpaying or of being unable to recoup your investment if you decide to resell down the line.

By virtue of the business model, pawn shops always maintain a diverse inventory, which is usually made of a few common items, such as:

What sets antiques and collectibles apart from the other items on that list is the fact that because most pawn shops are small, independent businesses, it is impossible to say what kind of antiques you will be able to find at your local pawn shop.

It is worth going to visit and seeing what they have. You might even consider visiting a few times per year, to see what’s new and to get an idea of what you can expect to find at your local pawnshop on a regular basis.

The chances are good that at any given time, your local pawn shop will have something you are interested in. Additionally, buying your antiques at your local pawn shop has the advantage of allowing you to carefully examine the piece before you buy, and to negotiate to reach a price that satisfies everyone. Not to mention that you will not pay shipping fees, dealers fees, or insurance. Also, you won’t have to worry about your item getting damaged by careless handlers when it is on the way to you.

Your local pawnbroker will also likely know the history of the antique, which can increase its value by giving it provenance, which is the chronology of its ownership. At the very least, knowing more about the history of the item will make it worth more to you on a personal level.

How to Pick the Right Antiques and Collectibles at Your Local Pawn shop

If you are looking for antiques that are made out of or feature any precious metal, avoid items that appear polished or overly-cleaned. Many times, sellers, hoping to get the highest offer, will clean or polish off age marks or patina that give the antique its value.

Other considerations you should take into mind when shopping for your antiques at a pawnshop near you include:

Know your price limit

Are you buying an antique or collectible to keep, display and pass on to an heir? Or are you buying it to resell? Depending on your intentions for your antique, your price limit and leeway for negotiating may be affected.

In the event that you cannot come to an agreement with your pawnbroker about price, don’t be afraid to just thank them for their time and walk away. It’s respectful and far better than overpaying.

Do your own homework

Learning how to research antiques online is easier than ever. Take the time to familiarize yourself with common telltale signs of forgeries, fakes, and reproductions. Your local pawnbroker has done everything they can to ensure that every item in their shop is the genuine article, but sometimes mistakes happen. As a buyer, it is up to you to do your due diligence into authenticity.

Get to know some experts

The Inland Empire communities are home to many collecting clubs and antiques dealers’ associations; get to know some of the experts in these groups to find people who can help you decide what to purchase and when. As an added bonus of networking with experts and fellow aficionados, you will gradually become an authority on items that catch your interest and will be in a position to help your fellow buyer down the road.

If you see something that interests you, that fits into your collection and is within your price range, buy it – every item is one of a kind and once it’s off the market, you may never see it again. Feel free to negotiate to get the item you want.

Finally, to protect your investment and to keep it enjoyable for years to come, learn how to take care of your antiques.

Regardless of how long you have been collecting antiques, your local pawnshop is a great place to find and buy antiques. Those just starting out collecting or dealing in antiques will discover great starter items; collectors and dealers can find deals and create a relationship with their local pawnbroker that will be mutually beneficial for years to come.

Guide to Buying and Selling Your Gold

Guide to Buying and Selling Your Gold

by | Nov 2, 2018 | Blog

BUYING AND SELLING YOUR GOLD

The price of precious metals rises and falls, but gold always retains some value. Because of its steady value and demand, gold is easy to buy and sell. Not only that, gold jewelry has a value beyond its status as a precious metal; gold jewelry also holds a market price from a design and fashion perspective. A piece from a well-known or in-demand designer could command value far beyond that of its precious metals.

Gold has been used to hedge against inflation and the volatility of the stock market for decades and is staple part of most investment portfolios, not to mention it looks great on your wrist or ring finger. Whether you are looking to make some quick cash by selling your gold or are interested in long term investing, gold is a great idea. Keep reading to learn what you need to know to make a smart purchase, and to get the most for your gold.

Selling

Before you explore the prospect of selling your
gold coins,
jewelry or bars keep in mind that pawnshops, jewelers and other brokers all determine the value of gold by its current open market value, which is always publicly available. This works to your advantage, as all parties involved will be working off the same baseline value.

Gold is priced per ounce and is bought and sold 24 hours a day, 7 days a week all over the world; this means that the value is constantly changing by the second. The price of gold is affected by everything from the value of the U.S. Dollar to reserves in foreign banks.

However, as a seller, it is not enough to know the current market value of gold. You should also know the weight your gold, as well as how pure your gold is. Armed with that information, you will know how much you can realistically expect for your gold, as your buyer will need to turn a profit on your items.

When it comes time to field offers for your gold, you should compare offers from multiple pawn shops. By simply visiting a pawn shop nearby who deals in gold on a daily basis you can get a good idea of how much money you will receive if you sell or pawn it.

Pawnshops vs. Jewelers vs. Online

Without a doubt, a pawn shop in your area is the best place to buy and sell gold, regardless if your gold is in the form of coins, jewelry or even gold bars. A pawn shop will be able to get you top dollar for even broken or out of date gold jewelry, as they may have it melted down and fashioned into something new, without passing on convenience charges or other such add-ons that you’d find at other places or at online buyers.

Additionally, if you have your items have sentimental value for you, a pawn shop, is the best choice if it’s something that you may like to retain, as you can repurchase it within the terms outlined in your agreement when you sell.

Assessing Golds Value

When determining the value of your gold there are several things to consider including Weight, Karat, Design and so forth. Getting the best price for your gold can be tricky so it helps to know what it is you truly have. See our Blog Getting The Best Price For Your Gold for additional details.

When Should You Sell Your Gold?

It sounds over-simplified, but it’s true: the best time to sell your gold is when you need a little extra cash on hand. Until you have sold your gold, you haven’t realized it’s real value, and you are vulnerable to the whims of the market for the time that you are holding on to it.

In other words, the best time to sell you gold is when you have a plan for the cash that you’ll receive for it. Be it to cover bills, to make other investments that may have a higher return, or simply to spend, the right time to sell is when it makes sense for your situation.

Regardless of what form your gold is in, be it a bar, necklace or chain, you have something of great worth that you can sell or pawn at a pawnshop. Give a pawn shop near you a call to find out what kind of value you may have lying around the house.

Buying

A significant bonus to buying your gold or gold jewelry at a pawn shop is that prices are typically much lower than retail for the exact same quality, usually 30% to 50% less. You are also dealing with brokers who are licensed and highly regulated, which means that buying your gold from a pawn shop is safe and reliable.

You should always buy your gold from a reputable business like ours. Your research should begin before you even set foot in a single shop. Go to the website of each pawn shop near you that you are considering buying from and read reviews about them across many sites.

While doing your due diligence, pay particular attention to reviews about shops that specialize in gold and jewelry. When you’ve narrowed down your list to a few shops, visit them in person before you are ready to begin working with them.

Keep in mind that gold items will vary from shop to shop; each piece is unique in its own way, so if you happen upon something that catches your eye or meets your needs, be sure to make an offer and be prepared to negotiate.

A reputable shop like ours will be willing to negotiate with knowledgeable and courteous customers. Consider paying in cash and/or having items to trade to get a great deal. Don’t be afraid to ask plenty of questions about a piece. We will be happy to work with you to settle on a price that satisfies everyone.

Buying and selling gold is a straightforward way to make quick cash and pick up an item that will steadily increase in value. Although the recent gold rush of 2011 may be behind us, pawn shops in your area are ready and able to offer you top dollar and give you the best deal, regardless if you are buying or selling gold.

As a profession, pawnbrokers have been in the gold business for centuries. Pawn shops like ours that serve the greater
Inland Empire, like in the Ontario, Upland, Chino, and Pomona areas, have been in the gold business for decades. We have a vested interest in keeping you happy and are hands down the fastest, safest and most advantageous way to turn your precious metal into cash in your pocket, or in helping you make a smart investment.

How to find the best pawn shop near me?

How to find the best pawn shop near me?

by | Nov 2, 2018 | Blog

Finding the best pawn shop

Most people think all pawn shops are the same. Well aren’t they? Sure all Pawn Shops are indeed places of business where you can get a cash loan on a piece of jewelry or just about anything else of value or sell and buy all types of merchandise including tools, musical instruments and so on but not all pawn shops are the same.

HOW PAWN SHOP DIFFER

1. Customer Service

How customers are treated is one of the most common ways one pawn shop can be different from another. We have all been in a situation where we are at the store or a restaurant and the service is just terrible either the person just doesn’t seem to care about his or her job or they treat you as if you are bothering them or worse yet they are just plain rude, it creates an experience that we are quick to remember and slow to forgive. Customer service extends beyond the face to face visit of a local establishment as customer service over the phone is also extremely important and again who hasn’t had an awful experience with service over the phone being put on hold and forgotten or being transferred over and over only to explain yourself to the next “customer service rep” who is going to transfer you.

The Pawn Shop experience should be no different from the experience you have at any local establishment there are those that put a high emphasis on customer service and those that do not. A few things to really look for are:

A. Do they greet you and make eye contact as soon as possible, sometimes employees are just busy helping other customers and an immediate greeting can be difficult but as soon as they get a chance or as soon as they see you they should make you feel welcomed. Nothing worse than an employee or owner who simply does not even acknowledge you until you ask a question or otherwise accost them.

B. Do they value your business, this does not mean do they give you everything you want or pay more for an item than its worth it means that even if there was no business transaction at all you felt that you were treated fairly and that they appreciated, you giving them the opportunity to earn you as a long time customer.

C. Do they provide explanations or offer advice, sometimes you may have an item you wish to pawn that is not worth what you thought it was and you really want to understand why a pawn shop with good customer service will do their best to explain to you why the value is not there and perhaps even offer you some advice on how to better know the value of an item or where to get it professionally appraised.

So when it comes to customer service in the end if you do not care how you are treated then any pawn shop nearby that will take your item, give you a loan or has some merchandise you wish to buy will do, but if you are looking for a good experience, making a phone call before you come in may be a good idea.

2. Payouts on loans

You may think that all pawn shops will pay the same amount when they buy your item or loan you the same amount money on whatever it is you are pawning but that is not always the case. Some pawn shops have a larger customer base who go to a pawn shop to find good deals on used merchandise and so they may know they will be able to move that particular item faster than another pawn shop who has a smaller amount of customers who come in to buy things and sees the item as taking up space. Also some pawn shops look to build long lasting relationships with their customers and will offer a bit more than the competition to establish that relationship.

3. Items they will lend on

There are some pawn shops that just focus on Jewelry, Gold, Silver and precious stones like Diamonds or Emeralds and will not lend or buy anything else while others will have a little more of an extensive list that will include things like Electronics, Sports Equipment and Sporting Goods and then there are those pawn shops (like ours) that will lend on just about anything that has some value including Collectibles, Comic Books, Baseball Cards, Musical Instruments, dvd’s, Remote Controlled Cars and Boats, even Sunglasses.

So when it comes to answering the question “How do I find the best pawn shop near me?” you will find that the answer really depends on what it is you are looking to do buy, sell or get a pawn loan and on what is important to you Variety, Pay Outs, Service or Selection. A visit to the pawn shop can be great experience if you know what it is you want to do and you know that the pawn shop you are heading to can fulfill your needs.

Now that you have found the right Pawn Shop for you whats the next… Negotiating, negotiating with a pawn shop can be an art and there definitely some rules to follow to get the most for your money or your merchandise. For more information on how to negotiate with a pawn shop to get the best deals stay tuned to our blog page and read our post on negotiating with a Pawn Shop.

How to get the best price when I sell my gold jewelry to a pawn shop

How to get the best price when I sell my gold jewelry to a pawn shop

by | Oct 31, 2018 | Blog

People have all types of reasons to sell their old, unwanted or broken jewelry from just simply needing some extra cash, down sizing their lives, inheriting jewelry that just not fit their taste or lifestyle and so on. So when this moment arises many people are left wondering where is the best place to sell jewelry.

Local pawn shops can offer a great alternative to trying to sell online, at a yard sale or a Cash 4 Gold shop. Most Pawnbrokers have a licensed gemologists on-site that can assist in determining the authenticity and value of your jewelry.

So how do you get the best price on jewelry when you are selling to a pawn shop? This is the million dollar question right or 100 dollar question depending on the jewelry you are trying to sell.

First – Knowing what types of jewelry most pawn shops are willing to buy is a good place to start that is junk jewelry, knock offs, fakes, stolen jewelry (yes pawn shops routinely report their purchases to local law enforcement and most reputable pawn shops want to maintain a positive reputation in the public’s eye) are not going to be on the top of most pawn shops lists and will most likely lead to wasting your time and theirs.

Second – Knowing the purity, weight and price per ounce of the gold your jewelry is made from will also be beneficial. Here is a quick breakdown of how find the above info and why it is important

Karat – Is the measure of the purity of gold this lets you and the pawnshop know if there are any additional metals (Usually Copper) within the gold itself. You can usually find a stamp on gold jewelry that will tell you what karat it is. Karats range from 24 Karat -which is the top of the purity chart all the way down to 9 karat.

Weight – This can be done at home with a basic kitchen scale. Most precious metals are weighted by Ounce/oz, Grams/gm and Kilograms/kg.

Price – Once you have determined the weight you can check current prices on whatever the precious metal your jewelry is made from here.

Third – Knowing the jewelry style and designer can also make a difference as old out of fashion jewelry pieces will probably be sold as scrap while top sought after designers and designs can fetch a higher price.

Fourth – Find a reputable pawnshop nearby that has an experienced staff who knows the ins and outs of selling used jewelry as they can not only give you a good price but explain how the came to that price.

Why is it so important to find a reputable buyer?

As we said before pawn shops are regulated by local, state and federal authorities and selling your jewelry to someone who is not regulated by the legal system can bring with it some hazards that are best avoided including bait and switch of your valuable stones, getting a low ball price, damage to your jewelry, and of course theft. Also maintaining a good reputation and getting customer referrals is important to any business including a pawn shop so it is a good bet that you will be treated fairly and valued.

Do pawn shops buy jewelry that is made from other metals like silver or platinum?

Yes most pawn shops will buy any piece of jewelry that is of value including pearls,silver, platinum and designer watches. Again the value will depend on the value of the metal itself and any intrinsic value such as designer, or design

What about selling jewelry that is broken?

When it comes to valuating jewelry that is broken in most cases the weight of the metal and the spot price is what is used to determine what a pawn shop will pay. However if it can be repaired easily and the design or designer is in high demand then you may be able to get a bit more than simply the weight value.

How are precious stones like diamonds and rubies factored in to the price?

Precious stones or gemstones like Diamonds, Rubies, Emeralds, Sapphires, and so on are valued based on a few factors.

Carat – Just like gold gemstones are valued based on their weight . Most pawn shops will have a jewelry scale on site which will help them determine the exact weight right on the spot. However weight is not the only factor.

Gemstone Color – The color of your precious stone plays a significant role in determining its value. The most sought after colors are different for each gem type, those being more rare or more desired will obviously fetch a higher price than those that are more common or less in demand. Highly vivid gemstones that are truly pure to the eye and are medium in tone are more highly regarded than those that are too light or dark.

Shape and Size – A gemstones size can effect the value beyond its weight for some particular gemstones like the diamond or ruby which can increase significantly from one size to the next where as more common gemstones are pretty consistent in price per carat no matter what the weight. The shape is also a key factor as the more unusual or rare the shape the more valuable it tends to be. This is due to what it takes to cut the stone to a particular shape and also the beauty and desirability in general of particular shapes.

The Cut and Polish – The gemstones cut contributes to it’s ability to reflect light creating a more bright and sparkle effect. It takes great skill to cut a gemstone and certain stones can be more difficulty to cut than others. The better the shine and cut the more valuable the gem is in most cases.

There are several other factors that play a role in how a pawnshop will value your gemstones including rarity and demand so it is a good idea when taking your jewelry into a pawn shop to ask them how they have come to the value they are proposing.

In summary finding a safe buyer that knows how to properly value jewelry from value of metal and stone to desirability and sell-ability in a retail market is generally going to be your best bet in getting a good price without endangering yourself or your jewelry. If you are looking to sell your jewelry and live in or around Ontario, Pomona, Upland or the surrounding communities and want to sell your jewelry or simply want to know how much you could get for it give the professionals at Central Mega Pawn a call or visit our showroom and a member of our team help.