Many pawnshops, like Empire Loan, will offer buys and loans on a wide variety of items, including gold & diamond jewelry, electronics, musical instruments, tools, designer handbags, and other items that have a secondhand value. Here is a list of what you can bring in to get the most money.
Gold & Diamond Jewelry:
The items that will usually get you the most money if you are selling it or getting a loan is usually gold jewelry. Currently gold is trading for around $1,800 per ounce on the market. This means a simple gold wedding band could get you anywhere from $50 to $150 depending on the karat and weight of the gold. It is not based on what you may have paid for it at retail or what it may appraise for, just the scrap value of the metal and a percentage of the wholesale value of any diamonds. Color stones generally do not have any value. Platinum is another valuable metal currently trading for around $1,000 an ounce. Unfortunately, silver is trading for around $25 an ounce meaning you may need a lot of it to get a decent amount of money. In most cases, this is the simplest way to get cash from a pawnbroker.
The good news is, electronics like laptops, TVs, game systems, and other items are easy items to get buys or loans at a pawn shop for. The bad news is that technology is changing so fast that the value in these items goes away quickly. The Smart TV you bought just last year is selling for half within 12 months. The game system you just dropped a few hundred dollars on has been replaced meaning yours is now worth very little. You may have paid top dollar for your electronics, but they lose that value as soon as you open the box. It still may be worth checking to see. In most cases, you can call the pawnshop with the brand and model number for what you have, and they may be able to give you an estimate over the phone.
Many pawn shops also offer cash buys and loans for selected tools. There are certain brands of power tools that retain their value better than others. Brands like DeWalt, Milwaukee, Bosch, and Porter Cable to name just a few, are often accepted for buys and loans. Hand tools by companies like Snap-On, Craftsman, MAC, and Klein are some of the better-known professional hand tools that can be used as collateral for a loan at a pawn shop. Empire Loan is unable to accept gas-powered tools because they cannot be safely stored, though some pawn shops do accept power tools for cash buys and loans.
Guitars, trumpets, saxophones, drums, and keyboards are just some of the musical instruments pawn shops will offer buys and loans on. Most pawnshops can accept a variety of Instruments, brands like Gibson, Fender, Yamaha, and more! Of course, the instrument will need to be in good working order and come in a case for storage purposes, but depending on the brand, model, condition, and the secondhand selling price, you could get a decent amount of money for it. Some guitars for example sell for thousands of dollars secondhand. Some also sell brand new for under $100. Best to check in advance. Empire Loan also asks that you know how to play it to prove it works, but to help verify that it belongs to you.
How Pawn Shops Value Your Items
Regarding these last 3 items, most pawn shops will look things up on websites like eBay and offer a percentage of the secondhand selling price and offer a percentage of that for a loan. This way you will have an idea of what you may be able to get for your stuff.
Visit a Local Pawn Shop In Massachusetts & Rhode Island
Empire Loan has locations throughout Massachusetts & Rhode Island, we can facilitate cash buys, pawn loans, and more. If you are in need of quick cash, we can assist with cash & pawn loans, buying or selling items such as instruments, electronics, designer handbags, tools, precious stones & jewelry such as diamond, gold, or silver, and so much more! Find a convenient location near you, or contact us directly 1-800-375-PAWN for more information.
These are just a few of the most popular items you may be able to sell to a pawn shop or use as collateral for a loan. If you’re not sure, don’t be afraid to ask. At Empire Loan, we try to make it that easy! Get a direct quote from home with our Direct quote CashCam platform!