Yes, you are expected to barter or haggle at pawn shops, as prices are rarely fixed. Whether buying or selling, negotiating is a normal part of the process, with 10–20% off listed prices commonly accepted. For best results, research current market values, be polite, offer cash, and be prepared to walk away if a deal cannot be reached.
A common question is, “Can you bargain at pawn shops?” Absolutely, but it's important to be realistic. A pawn shop is a business that needs to make a profit. They can't pay the full retail value for an item because they have overhead costs and need to resell it.
If you don't repay the loan by the due date—usually 30-90 days—the pawn shop keeps your item and sells it. There's no impact on your credit score, but you'll lose the item permanently.
Pawn shops use three golden balls as a symbol because it's linked to medieval Italian moneylenders, especially the powerful Medici family (whose crest featured three balls, possibly from killing a giant with rocks) or Lombard merchants, and later connected to Saint Nicholas (patron saint of pawnbrokers) who gave three bags of gold to save three girls from poverty, with the balls representing the bags. This symbol, representing finance, prosperity, and charity, became a universal sign for pawn shops and their services.
Things You Didn't Know You Could Pawn or Sell to Pawn Shops
What's the biggest risk for pawn shop owners?
Every store is vulnerable to theft and fraud. Pawn shops have the additional concern of the legitimacy of the merchandise they buy. There are numerous instances of people selling stolen items to a pawn shop. Pawnbrokers can be liable if they know that an item has been stolen from a third party.
1. Jewelry. Across the board, jewelry (authentic, real jewelry - not costume jewelry) generally yields the most amount of cash. This is because jewelry is made from precious metals, such as gold and platinum, and often incorporates diamonds and other precious gemstones.
The 70/30 rule in negotiation is a guideline to listen 70% of the time and talk only 30%, focusing on understanding the other party's needs, motivations, and priorities through active listening and open-ended questions, which builds trust, reduces misunderstandings, and fosters collaborative solutions, making the other person feel heard and valued. This approach shifts the focus from simply stating your position to uncovering insights that lead to mutually beneficial agreements.
You Get Only a Fraction of Your Item's Value: Receiving 25% to 60% of resale value stings when you know what you paid originally. No Credit Building: Paying off a pawnshop loan on time does nothing for your credit since pawnshops don't report to credit bureaus.
To effectively negotiate price, you need to research the market value of the item, determine your walk-away point, and initiate the negotiation with a friendly but firm approach. Be prepared to make a counteroffer and potentially compromise, focusing on the value you bring to the table.
Borrowing money via a pawnbroker is expensive and might involve losing a valued item as well as costing you money. Use our Your options for borrowing money tool to see a range of credit options that could suit your needs.
Condition matters BIG TIME: Better condition = more money for you! ...
Popular items get better offers: Jewelry, designer items, electronics, power tools, and sports equipment usually get you more cash because they sell quickly.
The 2-1-1 jewelry rule is a styling guideline for balanced accessorizing, typically meaning two pieces on one hand/wrist, one piece on the other, and one statement piece elsewhere (like around the neck or ears), creating intentionality by distributing items and avoiding overload. It's about achieving visual harmony, often by pairing two smaller/medium items with a single standout piece, and it applies to various combinations like rings and bracelets, or necklaces and earrings, to enhance your look.
A discrete process, pawning doesn't require any affordability or credit checks. There is no impact on your credit score. Pawn shops are agile and can move quickly from valuing your luxury assets to transferring loan funds.
Before spouts were adopted pawnbrokers used hooks to lift articles pawned. “Gone to the uncus” say these authorities, was soon. corrupted into “gone to my uncle's,” the pronoun “my" being supplied for the sake of euphony, according to the Detroit News.
Why Do Pawn Shops Low Ball How do pawnshops price: Understanding Evaluations. Pawn shops sometimes have a reputation for low-balling. However, this myth comes from a lack of understanding the secondhand market. Pawn shops employ a meticulous evaluation process to evaluate the item's condition and resale value.
