Finding a stockpile of antiques can feel like you’ve just discovered a treasure trove. Selling off your old stuff can help clear out some space and make serious cash.
The only question is where you should sell your antiques. Should you sell them off to a pawn shop or an antique store? What’s the difference between the two?
Let’s take a closer look into both kinds of shops below.
Antique Pawn Shops
Pawn shops always welcome antiques as they need some unique pieces in their showroom to pull in potential customers. If you are still wary about parting with a specific antique item but really need the cash, then you can opt for a pawn loan on the item instead. This means that you can offer your antiques as collateral for a certain amount of cash.
Pawn shop owners are typically lax on terms, but if you cannot pay back the loan in time, they will simply keep the item you put up for collateral with no extra charge to you.
Of course, you can also sell your antiques to a pawn shop outright. You may have to haggle the selling price with the owner for some time before you both reach a satisfactory price. The largest amount a pawn shop will buy your antiques at will be 75 percent, or 85 percent for luxury items.
Antique stores specialize in the appraisal and selling of antique items, so you can be sure that the owners know their stuff. However, because they will be reselling your antiques to make a profit, they may give a low offer on your items. Like pawn shops, you will have to haggle a decent price with the antique shop owner until you find a price you’re both satisfied with.
If you have a lot of antiques to sell, the antique shop may even allow you to rent out space in the shop so you can make a profit on their sales, too!
Which to Choose
The main difference between antique pawn shops and general antique stores is how they operate. Pawn shops will allow you to offer antiques as collateral for a quick loan while antique stores do not. You either have to sell or trade your antiques right off the bat without the ability to get your item back unless you purchase it from them.
You should first figure out how quickly you need the money and if you are truly willing to part with your antiques before deciding which type of store to visit. If you need a temporary loan, then head to a pawn shop. If you want to simply rid yourself of your antiques, then you could go to either a pawn shop or an antique store.
Ultimately, the choice is up to you. You can even visit multiple antique stores and pawn shops in your area to see how much these stores are willing to pay for your stuff.