Pawnshops see so many varied items it really is amazing. One might look at their buyers and think “How on earth do they know all of this?” The simple answer is, over time we have looked everything up. One price and one piece at a time. Research is king in the pawnshop business.
There is a wide range of factors that come into consideration when appraising an item. Pawnbrokers use a “blue book” database to get a general idea of current market value on many items.
Items are broken down into categories:
Gold and Jewelry
Pawnshops do a lot of business working with precious metals, stones, and jewelry. They often have an owner or staff member with extra knowledge in the area. First Pawn has knowledgeable staff but also a full-time Jeweler on-site! They will be familiar with cut, clarity, and color of diamonds, the going price for gold, silver, and other metals, and know a good designer or vintage piece when it is brought in for evaluation.
General Merchandise – This encompasses most of the items in the store.
- Musical Instruments
- Music equipment
- Sporting goods
- Media (DVDs and Video Games)
- Game consoles
- And much much more!
Each category has its own considerations, but all pieces hold current market value. The pawnbroker will use that base amount to fine-tune the assessment based on condition, quality, and availability.
Before so much information was readily available at our fingertips on the internet shop clerks and owners had to rely on physical blue books. They listed a baseline value for almost every item. These days the books are much more readily accessible online from any device. They may also consult sites like eBay and Craigslist to get an idea of what they are going for at the moment, especially locally.
For specialized items, pawnshops will sometimes call in an expert in a specific field. This can go for antiques, classic automobiles, and collectibles. Many of which aren’t easily referenced on the sites we already mentioned. These consultants are often more qualified to assess a particular item offering an informed opinion to help drive the pawn shop’s assessment.
This number is sometimes out of wack with the numbers in the books. An item can mean a lot to someone because it holds memories. The pawnshop may add some sentimental value to a loan if the seller has done repeat business with them. While not true in all cases, First Pawn does their very best to give you top dollar on every sale as well as to find your items new homes where they will be cherished.
Have an item you are wondering about? Bring it in and let us give you an evaluation on it. It’s totally up to you if you choose to sell it, pawn it, or just keep it and take it back home.
We would love to see you! Come on by!
Visit our showrooms today for spectacular bargains. www.firstpawn.com.
First Pawn Jewelry & Loan
889 Airport Road South, Naples, Fl 34104 | 239-434-7296
1331 Homestead Rd N, Lehigh Acres, FL 33936 | 239-369-2274