So, if you’ve been to a pawnshop, then you might wonder how they actually decide what price you get for your item. It might seem like something of a mystery, considering that there’s a lot of things that go on behind the scenes to determine how much a pawnshop is prepared to give you for a specific item.
We’re going to talk a bit about some of the factors that might decide the price in a pawnshop, just so you can understand a little bit about what it means to sell something.
Quality and Availability
Two big factors that decide what kind of price you get for an item in a pawnshop are the quality and the availability. So, when we talk about this, we are talking about how easy it is to get hold of the item, which is the availability, and then what quality the item is in at the time of selling.
So, to give you an example, if you walked into a pawnshop with a family jewel that was one of only 20 in existence, and it was in perfect condition, then you’re going to find that you get a higher price then if you walked in with a watch that is easy to get hold of on eBay.
Market Value
The average pawnshop seller doesn’t know the value of everything. That’s why when it comes to trying to price an item, a lot of shops will search for the market value of the item. Whether this is the typical selling price on eBay, how much the item sells for in shops at the moment, or the average price a collector might pay for an item.
By working out market value, pawnshop employees have a ballpark figure that they can use to offer you a specific price. With things like precious metals, ie. gold, the market value does fluctuate slightly every month, so picking the right time is critical.
Stock
The amount of stock that the pawnshop has an offer can make a difference to the price that you get. If they don’t have a lot of the item, and it’s a popular item, then they might offer you more. It’s basic supply and demand. If there isn’t enough demand for the item that you’re trying to sell, then the need to have a supply isn’t as great, so you may not get as good a price.
Final Thoughts
So, you’d probably be surprised at what influences the price of an item in a pawnshop. It can vary quite a bit from one shop to the next, but in a lot of cases, there are solid benchmarks. Generally speaking, there are prices that are reasonably fixed, just owing to the properties of the item, its availability, etc. you have to consider that when it comes to trying to sell an item, there are quite a few things that you should think about, and finding a good pawnshop can definitely help a lot.
