Turning unused or unwanted items find a pawn shop cash is the whole reason for the existence of pawn shops. It’s a quick and confidential process that doesn’t involve running your credit and is usually completed in under an hour. The pawn shop will do an over the counter evaluation of your item and make you a verbal offer. You’ll agree to a loan term and interest rate and get a copy of the “pawn ticket.” You won’t be reported to any credit bureaus if you default on your loan, but if you fail to pay back your item in the allotted time frame, you will forfeit your item.

Pawnshops buy and sell a wide variety of goods, including jewelry (gold, silver, and diamonds are particularly sought-after), power tools and musical instruments, sports memorabilia, and even classic cars. Quality, reputable brands of electronics are also popular with pawnshops, especially when original chargers and cases are included.

How to Find a Pawn Shop You Can Trust

The first offer a pawnbroker will make you is typically below the actual market value of your item. Pawnshops need to be able to cover the cost of purchasing and maintaining the inventory they acquire, as well as pay their employees and cover general overhead costs.

To maximize your potential for getting a fair price for your item, do some research beforehand on secondhand websites such as eBay and find out what similar items are selling for in the local area. It’s also a good idea to bring your item with its box, any warranty information, and any other documentation that may help you secure a higher offer.