What You Didnt Know About Pawn Stores

The video “How Pawn Shops Determine How Much To Give You” gives us insider knowledge about what to expect when you try to trade your stuff in.

They will check the price of an item on eBay and offer a small percentage of that – not the full price! They have to prepare to sell your item if you don’t come back for it. If they offer you the full price, they won’t make a profit.

They also have to repackage and clean it up to resell it. Repackaging an item also costs money and labor time.

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Some shops will always go with the rule of giving you 10-20% of your item. In other words, a $100 item will give you only $30 at the pawnshop.

The metal’s weight and purity determine how much money you’ll get. For example, if you bring a 10k gold necklace that weighs one ounce, they’ll give you $300 for it. If you have a 14k gold necklace that weighs the same, they may give you $350.

In conclusion, don’t expect a lot of money from a pawn store. Shop owners must make a profit. So keep in mind you will get a percentage of your product but will have time to get it back.