A Cartier watch is exhibited in a pawn store in Beverly Hills, Ca. | Gabriel Bouys/AFP/Getty Images
Pawn stores donвЂ™t precisely have actually the reputation that is greatest. TheyвЂ™re seedy and a bit scary, run by creepy-looking guys, and filled with desperate customers in many peopleвЂ™s minds. But those pawn shop stereotypes arenвЂ™t grounded in fact, in accordance with Birnholtz.
Pawnshops вЂњare maybe perhaps not the happiest destination on Earth,вЂќ Birnholtz admitted. Nevertheless the industry has washed up its work in current years. вЂњI believe the degree of professionalism and cleanliness and solution has enhanced actually significantly within the pawn industry within the last 30 or more years.вЂќ
Head to a pawn store today, and youвЂ™re likely to get your self in a clear, well-lit shop, stocked with quality utilized merchandise. Some are also embracing Instagram to market their luxury products. Together with basic proven fact that pawn shops are full of components of questionable provenance? It is simply not real, based on industry teams, whom state significantly less than 1% of things individuals attempt to pawn grow to be taken. Genuine pawn shops check ID and make use of law enforcement to ensure the plain things theyвЂ™re selling arenвЂ™t stolen home.
4. It is perhaps perhaps not like everything you see on Pawn Stars. Rick Harrison from Pawn Stars examines an item of jewelry.
| Ethan Miller/Getty Images
Pawn stores may possibly not be the dens of vice some think these are generally, but theyвЂ™re also nearly like everything you see on television shows, such as for instance Pawn Stars. The mega-popular background Channel program thrust pawn stores to the limelight and helped normalize pawning, Birnholtz stated. The scenes the truth is regarding the show, nonetheless, are not likely to relax and play call at town pawn store, which will be almost certainly going to be stocked with gold jewelry, electronic devices, and carefully utilized instruments that are musical unusual stone memorabilia or Star Wars collectibles.
Pawn Stars is вЂњnot fundamentally representative of just just how many people utilize pawn stores since they deal in actually, really specialized things,вЂќ Birnholtz said. вЂњTheyвЂ™re a shop that is big most likely very good margins, so that they can manage to spend a lot of money for many unique products. Whereas pawn shops that are most canвЂ™t do this.вЂќ
5. Pawn offers vary вЂ” a great deal
A pawnbroker and an individual | PawnGuru
In an amazing globe, every pawn store would provide to loan you roughly similar amount of cash for similar product. In fact, that is maybe not how it functions. The common distinction between the greatest and bid that is lowest for similar product at various pawn stores had been 258%, based on information collected by PawnGuru in 2015.
That disparity that is vast loan provides had been one reason Birnholtz created PawnGuru.
as opposed to investing a day visiting various pawn stores to have the most readily useful deal (or unknowingly settling for the low-ball offer), individuals are now able to look online, share the product they would like to pawn (or sell outright), and acquire quotes straight right back from neighborhood pawn stores. вЂњThat provides individuals the ability to negotiate with numerous stores at a time to find out what type is clearly likely to provide them with the most effective deal,вЂќ he said.
6. It is possible to pawn just about anything
Interior of the pawn shop | PawnGuru
Firearms and silver could be a few of the more items that are common think about pawning if they require some dough, however in concept, you are able to pawn most situations. You simply need certainly to look for a pawn store that thinks it might be in a position to offer your material. Various stores focus on different sorts of things, that is one explanation to search around making use of PawnGuru. Don’t assume all shop could be enthusiastic about exactly exactly what youвЂ™re offering or have the ability to offer a fair cost.