If you need some extra cash, you may be considering pawning some of your belongings. But what can you pawn, and what will get the most money? Here’s a list of the most commonly pawned items, along with their estimated resale values. Keep these in mind when deciding what to pawn.
Pawn Shop Price Guide 2022
Pawn Shops determine the worth of your items through several factors, such as general appearance and functionality, brand, completeness of items, and more. Your item’s resale value is the amount that a pawn shop thinks it can sell the item for. Taking a look at the average offers of pawn shops for an item can typically let you get a good gauge on what its resale value is.
Jewelry pieces, whether they’re old jewellery lying around your house or newly bought ones, are a popular item to pawn. Most shops will give you good prices for gold, diamond, or platinum jewellery.
· Gold jewellery
How much you can get from pawn shops for your gold jewellery will depend on a few things. This includes gold purity, weight, market value, the complexity of the jewellery, its historical value, the number of stones it has, and overall condition. To estimate how much you can get, you just have to multiply the gold purity by its weight and current market value.
Let’s say you’re looking to pawn a 24K necklace (99.99% purity) weighing 30 grams. As of writing, the market price of gold per gram is $57.94. Multiplying the gold purity by its weight and market value is equal to $1,738. Since pawn shops generally pay from 25% to as high as 85% of your jewellery’s value, you can expect offers from $435 to $1,477.
· Diamond jewellery
Pawn Shops consider the diamond’s carat, clarity, colour, and cut, as well as the average market price, to determine your jewellery’s value. The market price for a 1-carat diamond ring largely varies, from $2,500 to around $15,000. Shops may offer 30% to 75% of your diamond jewellery’s actual value. If you’re thinking of pawning a 1-carat diamond ring worth $6,000, you can expect to get $1,800 to $4,500 for it.
· Platinum jewellery
You can calculate the value of your platinum jewellery by multiplying the platinum’s purity level by its weight and market value. Let’s say you have a 30-gram platinum bracelet tagged with 950 (95% pure). Currently, the market price of platinum per gram is $30.66. Multiplying these figures is equal to $874. If a shop offers you half of this price, you’ll get $437 in return.
2. Rare coins
Rare coins can give you a hefty sum of cash, which is why they’re also a popular item for pawning. If you own some rare coins, you must know their market price. Half cents range from $125 to $2,000. Two cent pieces typically sell for $50 to $125. The price for half dimes can range from $100 to $500. Meanwhile, proof sets can be worth thousands. In general, a pawn shop can give you around half of the market value of your coins.
3. Luxury items
Designer items, from bags and watches to clothing, are worth pawning because of their high demand. Note that various factors can affect your item’s value, such as its overall condition and whether you still have its original box.
Shops typically offer around 60% of your luxury watch’s retail value. For items in near-perfect or perfect condition, it’s possible to receive offers of up to 85%. On average, you can get around $2,000 to $3,000 for a Rolex watch that’s only slightly used but still comes in its case or bag.
In general, expect to get around 60% less than the total value of your handbag. Designer bags from brands such as Dior, Prada, Chanel, Givenchy, and more are bound to sell well.
One of the best things to pawn around the house is a guitar. They’re a common item to pawn because they’re a popular instrument among people of all ages. If you’re looking to visit a pawnshop for your Gibson guitar, make sure that the guitar is in its best condition and try to round up any accessories that came with it. Pawn Shop prices for acoustic guitars and electric guitars differ. Generally, the latter is more expensive, which means you may be able to get more for it than if you try to pawn an acoustic guitar.
Pawn Shops usually offer 20% to 40% of guitars’ retail value. Guitars from well-known brands, such as Gibson, Fender, and Ibanez, are more likely to give you a higher amount. The current retail price of Gibson’s electric guitars ranges from $1,000 to $10,000. So if you’re pawning a 1,000-dollar Gibson guitar, pawn shops might give you an offer ranging from $200 to $400.
Pawnbrokers are always on the lookout for in-demand items, and this includes electronics. Consider pawning items such as laptops and smartphones. Devices with minimal to no cracks, scratches, and dents are bound to get you more cash. The brand of the products also matters. Apple products such as MacBook tend to have the highest offers. For MacBook Air, the maximum offer is around half its retail price, or $500.
Shops generally offer around 30% to 45% of a firearm’s value. The average market price of a gun is less than $500. Guns from top brands sell at a slightly higher price. For instance, Springfield handguns sell for $580 to $650. If you pawn one in good condition, you can get around $260 to $290.
7. Power tools
Power tools might be one of those things you didn’t know you could pawn. They’re in-demand items, and there’s no shortage of people visiting pawn shops to buy power tools for their various needs. Pawn shops’ offers for power tools can start from $30 and reach up to $230.
Some of the items that can give you some easy cash may just be lying around your house. If you’re looking for the best pawn shops for guitars, or if you’re wondering, “Is there a pawn shop near me?”, and you live in Hollywood and Margate, Florida, Fla-Pawn is at your service.At Fla-Pawn, we can offer generous deals for your jewellery, guitars, electronics, and more. Schedule a free appointment today, or contact us by emailing email@example.com.