The history of Pawn Shops spans back more than 3,000 years with the trading, buying, and selling of commodities. Pawn shops, now more than ever, are rising in popularity.

The pawn shops of 2021 operate not only as retail stores but also as mini banks for millions of unbankable Americans. They also serve as places for people of all backgrounds to buy and sell items. America currently has over 12,000 pawn shops that deal with a huge variety of items including musical instruments, jewelry, firearms, and electronics.

What does it mean to Pawn an item?

To pawn something means that you give the pawn shop that item in exchange for a direct cash loan. For example, you might give them your laptop as collateral for a $500 loan. If you repay the loan by a certain date, typically 90 to 120 days after you pawn the item, you can retrieve your computer. The loan repayment amount will include interest and fees that are regulated by the state.

If you don’t repay the money on time, the pawn shop takes ownership of the laptop and can put it up for resale in the store. Pawn shops also purchase items outright with the intent to resell.

Working with a pawn shops can be a good deal for both a seller and buyer, but not always. The following are some tips and advice for selling and buying at a pawn shop.

Pawn Shop Selling How To’s

It is important to pick the right pawn shop. First Pawn Jewelry and Loan has a stellar reputation in the community

Before you sell or pawn do some online research to see what others have said about their experiences. Then, choose a reputable shop and broker you feel comfortable with.

Some pawn shops specialize in certain items. For example, if you have an antique, look for a pawn shop that has experience buying and selling antique items.

Decide before hand if you would like to sell or pawn

Pawn shops will give you the choice, so educate yourself on the options and know the ups and downs of each before you go in. This will make the transaction much smoother for both parties. The decision should be based on a number of things including your ability to repay a loan and the value you place on the item you are pawning or selling.

The Negotiation

Pawn store owners are resellers. They are not collectors. Just because a collector values your vintage watch at $1000, doesn’t mean that you will get that from a pawn broker. Set a minimum price ahead of time in your mind so you don’t make a snap decision you’ll regret later.

Proof of claims and paper work

If you bring in a very valuable jewelry item, consider having a professional jeweler write up an appraisal so you can prove the piece’s worth. Always bring original packaging if possible.

Present items in the best possible way

Clean, dust, package, make it look like something someone would want to buy. Make sure you have all of the parts, cords, and plugs to whatever you bring in.

Make all loan payments on time

If you pawn an item for a loan, be sure to pay back the loan plus interest and fees on time and as agreed. Not doing so will cause you to forfeit your item or extend the loan which will carry additional charges.

How to Buy from a Pawn Shop

Research what you have

It doesn’t matter what an item costs when it is brand new; some items hold their value, others don’t.  Know the value of an item in its current condition before you make a purchase.


Every item will have a price, but the sticker price should just be considered your starting point. Pawnbrokers have a lot of experience negotiating, so make sure you have a limit in mind before you begin bargaining. Also, understand that, in general, the longer something stays in the store, the more the pawnbroker will be willing to lower the price.

Read the contract

Some pawn shops offer guarantees of authenticity, but others do not. Some have lenient return polices while others say “all sales are final.” The policies can range widely, so read the policies carefully.

Cash is still king!

The pawnbroker might be more apt to take your offer if you are paying with cash. Plus, paying with cash will assure that you don’t go over your set limit and will keep you from accruing credit card debt.

Now that you know the ins and outs of working with a pawn shop, come see us here at First  Pawn Jewelry and Loan of Naples and Lehigh Acres, Florida.

889 Airport Rd. South, Naples, FL 34104 | 239-343-7296

1331 Homestead Rd. N., Lehigh Acres, FL 33936 | 239-369-2274

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