When you need cash in an emergency, pawnshops are a very good alternative since they accept anything that has some market value. According to Forbes.com, pawnshops are popular because they not keep open for long but also do not conduct any credit checks. However, it does not mean that you should walk in at the nearest outlet and be happy with the valuation of your asset. A few things you can do to get the best deal:
Ask for Recommendations
The choice of pawnbrokers can be bewildering with most of them try to outdo each other in promising the most cash and fastest deals. If you are at a loss, you should try to ask for recommendations from experienced people, you can trust. Additionally, you can scan the local yellow pages and online directories for details of nearby outlets.
Go for Reputation and Reliability over Everything Else
While the pawn broking sector is intensely competitive, the more established pawnshops prefer to maintain a discreet silence and rely on their goodwill to draw in customers. However, others engage in strident advertising and lucrative offers to get themselves noticed. Ideally, for peace of mind, you should focus on the ones that have been in business for many years. You can usually depend on them to give you not only fair value but also decent customer service.
Conduct Research and Establish Credentials
If you want to pawn your jewelry for some time to raise cash to meet an urgent expense and reclaim it, you need to be sure that the pawn shop you are dealing with is financially solid, has the right credentials, and is reputed. Even if you want to sell your assets, you need to be sure that you will not be scammed. Going online and checking up on reviews of the experience customers have had with them is a very good indication of their dealings.
Get an Independent Valuation Done
If you are not sure of the market value of your jewelry or other belonging, you should try and get an independent appraisal done so that when you walk into a pawnshop, you know its value and are in a position to strike a fair bargain. In the absence of the valuation, the only way is to accept whatever the pawnbroker is willing to offer you.
Don’t Forget to Bargain
Don’t think pawnbrokers are collectors of valuable artifacts and goods. They make money by charging you interest on the money they advance to customers while keeping their valuables as security. If the customer wants to sell the asset without wanting it back after some time, the pawnshop will need to sell it and make a profit. The first offer you will get from a pawnbroker will typically be conservative, however, if you know the market value of your asset, you can try to negotiate for a more acceptable value.
Pawning your goods is invariably an extreme step that you need to consider when you have run out of options of raising cash to meet an urgent requirement. You will, therefore, need to look out for a pawnshop that gives you the best deal, concludes the transaction quickly, and serves you with kindness, integrity, and empathy.