Empire Loan buys, sells, and offers pawn loans on musical instruments at each of our eight locations throughout Massachusetts and Rhode Island! Musical instruments are commonly used for loans at just about any pawn shop, and Empire Loan is no exception! Loans are offered based on a percentage of the secondhand selling price of the instrument on websites like eBay, not on what it may have sold for at retail. Condition of the instrument plays a significant role in what you may be offered, and worn or damaged items may not be acceptable for a buy or a loan.
Common instruments such as guitars, brass, percussion, and woodwind instruments are generally accepted as collateral for a loan. Here’s a breakdown of the expectations on musical instrument requirements and terms:
Pawn & Sell String Instruments at Empire Loan:
Guitars, including acoustics, electrics, basses, six strings, and twelve strings, are all commonly sold or used as collateral for a loan at Empire Loan! If you’re looking to use a guitar for collateral on a loan, you will always need to provide a case or gig bag for storage purposes for our team at Empire to consider it. Typically, customers are expected to show that they know how to play the instrument to prove that it works and help prove ownership. Guitars and other string instruments need to be in good working condition, meaning there are no missing strings or damage to the neck or body. In the case of electric guitars, all components would need to be functioning properly.
Other string instruments like violins, cellos, mandolins, and more are a bit more unique and, therefore, may have a more selective or niche market. This may affect the secondhand selling price of an item; however, the parameters by which they are appraised (no damage or missing pieces, etc.) are the same as for guitars.
Pawn & Sell Brass Instruments at Empire Loan:
Brass instruments like saxophones, trumpets, etc., need to be in good working condition and have a case for storage purposes to be considered for a loan. Any dents or visible damage will certainly affect the value; however, the item may still be acceptable for a loan or purchase. Brass instruments need to include the mouthpiece and any reeds if necessary. More specialized instruments like tubas, oboes, and others would likely be acceptable for a loan, but their niche market may also affect the value.
Pawn & Sell Percussion Instruments at Empire Loan:
Percussion instruments like drums, congas, cymbals, and others must be in good working condition with no visibly damaged pieces. When you bring a drum set or other percussion instrument to our stores for a buy or loan, we may ask you to set it up to help prove all pieces are there and are in good working condition. This step also helps prove ownership. Whenever possible, providing a case for these items will also help keep them safe while in storage at the store!
Pawn & Sell Electronic Instruments at Empire Loan:
Electronic instruments like keyboards, synthesizers, mixers, and other items should be brought in with a carrying case and include any cables and power cords that affect the instrument’s operation. When you bring the electronic instrument to one of our stores, you’ll need to prove that it works properly and that you know how to operate it.
Various other factors may affect an instrument’s loan value or purchase price, but our staff is always willing to consider a wide range of items for loans and buys! Come see us today at any one of our locations in Massachusetts or Rhode Island!
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