If you’ve ever visited a pawn shop to sell an item or use an item as collateral for a pawn loan, or if you’re planning on doing so for the first time, you’re probably curious about how the pawnbrokers determine how much they can offer you for your item(s). In this article, we’ll break down how our experienced pawnbrokers are able to determine the value and make offers for loans and buys on items that customers bring in! If you have any additional questions about the pawn loan process or if you’re looking to get some quick and easy cash by getting a pawn loan, please contact our team at Empire Loan by giving us a call at +1 800 375-PAWN or visit any of our eight locations in New England today!
Determining The Value Of Jewelry
When you bring a piece of jewelry to a pawn shop to sell it or use it as collateral for a loan, the offer price that the pawnbroker will make you will be based on the current trading price of the precious metal that the jewelry is made out of. For example, if you bring a gold necklace to a pawn shop, the amount that you are offered for a loan or a buy will be a percentage of the current price that the necklace’s weight in gold is worth. The same principle applies for silver and platinum jewelry. If your jewelry also contains any diamonds, a percentage of the wholesale value of those diamonds will also contribute to the price that the pawn shop offers you for a loan or a buy. Offer prices are NOT based on the jewelry’s appraisal value or what you purchased the item for originally. For more information about how much we can offer you for your jewelry, please contact us at your local Empire Loan location today! Click here for live gold and silver pricing information right on our website!
Determining The Value Of All Other Items
If you are not looking to sell or pawn a piece of jewelry, but rather another type of item that holds secondhand value like electronics, designer accessories, collectibles, musical instruments, etc., the amount in which we can offer you will be determined differently. For all non-jewelry items, our pawnbrokers will research similar items to yours on websites like eBay to determine the value of your goods. We’ll then make you an offer on your item(s) for a loan or a buy based on a percentage of the secondhand value we determine through our research. Similar to how our offer prices work for jewelry, our offers on non-jewelry items will not be based on what you paid for the item at retail, but rather what the item is currently worth. For more information about the pawn loan process or to find out if we accept a certain type of item for loans and buys, please call your local Empire Loan location today!
Contact Empire Loan!
If you have any questions about pawn loans or would like to find out how much we can offer you for a specific item, please contact our team at any of our eight locations in New England! Empire Loan is proud to be New England’s most trusted & reliable pawn shop with locations throughout Massachusetts and Rhode Island! Contact us today at your local Empire Loan location or call us toll free at +1 800 375-PAWN!
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1130 Washington St.
Boston, MA 02118 - (617) 423-9366
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Silver Line or Bus Route 11
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700 Southbridge St.
Worcester, MA 01610 - (508) 757-1150
- Monday – Saturday 9:00am – 6:00pm
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Bus Routes 25 and 42
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358 Broad St.
Providence, RI 02907 - (401) 273-7050
- Monday – Saturday 9:00am – 6:00pm
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Route 11 Broad St.
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1271 North Main St.
Providence, RI 02904 - (401) 437-8421
- Monday – Saturday 9:00am – 6:00pm
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Route 99 N. Main Street
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1304 Acushnet Ave.
New Bedford, MA 02746 - (508) 997-1307
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Bus Route 2, Lunds Corner
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353 Washington St.
Stoughton, MA 02072 - (781) 341-2500
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Bus Route 14 to Stoughton
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731 Lakeview Ave.
Lowell, MA 01850 - (978) 513-2300
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Route 11 Broad St.
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431 Lynnway
Lynn, MA 01905 - (781) 586-8383
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Bus Route 442