Pawn Shops In Cranston (2024)

FAQs

How much will a pawn shop give you for a $1000 item? ›

In general, you can expect to receive about half of your item's market value in your loan. However, this depends on the item. Items that are regularly pawned, yet don't have a lot of buyers will lower the offer price. In those cases, you will receive less than 50% of the market value.

Pawn stores usually pay the most for jewelry like diamonds and gold, timepieces, coins, vintage sneakers, designer purses, and handbags. However, every pawn shop can buy high-ticket items, including vehicles, real estate, and jewelry.

At a pawn shop, you leave your property and, in return, the pawnbroker typically lends you approximately 25% to 60% of the item's resale value. The most commonly pawned items are jewelry, electronic and photography equipment, musical instruments, and firearms. The average amount of a pawn shop loan is about $75–$100.

If you want to get the most amount of cash, focus on jewelry with gold, diamonds, or platinum. And don't think that jewelry must be in perfect condition. Most pawn shops will take broken pieces as they still have value.

Pawnshop owners are smart and won't fall for purchasing stolen goods. They follow all of the local regulations and federal laws when it comes to purchasing goods. You simply can't bring in illegal items like drugs, passports, hazardous waste, and stolen goods to a pawn shop and expect to leave with cash.

Pawning or selling is a personal choice. It boils down to two options: wanting to get items back or not wanting them back. If customers want their items back, then pawning is the best option. But if they want to get rid of their items, selling is the better choice.

Shops know they can sell tools faster (and for more money) when they are trusted brands. Bosch, DeWalt, Milwaukee, Stihl, and Snap-On will earn you the most. Usually, pawn shops will pay anywhere from $30-$200 for working tools, but you can expect that price to increase if you have any of these top performing brands.

With a $16 Million net worth, Rick Harrison is the richest member of Pawn Stars. Does Rick still own Pawn Stars? Yes. Rick owns television and royalty rights to the Pawn Stars.

What sales best to a pawn shop? ›

Pawn shops always buy precious metals like gold and silver, and most of them also buy jewlery and watches. Generally, anything that sells very quickly and is popular with collectors is something a pawn shop should buy from you.

1. Maurice Sendak Sketches. Price Deal: $250,000 In the episode "Can't Pawn Me Love" from Season 15, Rick Harrison acquired original Maurice Sendak sketches for Where the Wild Things Are. These unique sketches, never sold as reproductions, were estimated by an art expert to be worth $310,000.

Don't accept the first price offered by the pawn shop. Be prepared to negotiate and ask for a better price. However, be realistic in your expectations and don't be too aggressive; the point of doing your research beforehand is so that you can anticipate what will be considered fair both for you and for the pawn shop.

Most pawn shops offer loan amounts of 25% to 60% of your collateral's value. Be aware that pawn shops have high APRs that can make them one of the most expensive options to borrow money. Pawn shops do not require credit checks.

Pawn shops use factors like market value, resale value, current supply and demand of their local market, profit margin, and condition of the item to determine value.

A pawn store will generally offer more money if you're selling your item instead of pawning it. However, it does depend on a few factors. For instance, if you're selling an in-demand item, such as gold jewelry or a high-end watch, the pawnbroker is more likely to offer you a higher cash value.

Shops know they can sell tools faster (and for more money) when they are trusted brands. Bosch, DeWalt, Milwaukee, Stihl, and Snap-On will earn you the most. Usually, pawn shops will pay anywhere from $30-$200 for working tools, but you can expect that price to increase if you have any of these top performing brands.

For example, if you took a pawn loan of $200 for 2 months, the Interest Payable would be 1.5% x $200 x 2 months = $6.