October 7, 2020

3. Pawn shops are never as frightening as you would imagine

A Cartier view is shown in a pawn store in Beverly Hills, Ca. | Gabriel Bouys/AFP/Getty Images

Pawn stores don’t precisely have actually the reputation that is greatest. In a lot of people’s minds they’re seedy and a little frightening, run by creepy-looking dudes, and filled up with hopeless clients. But those pawn shop stereotypes aren’t grounded the truth is, in accordance with Birnholtz.

Pawnshops “are maybe perhaps not the place that is happiest on Earth,” Birnholtz admitted. However the industry has washed up its work in present years. “I genuinely believe that the amount of professionalism and cleanliness and service has enhanced actually significantly when you look at the pawn industry within the last 30 or more years.”

Head to a pawn store today, and you’re likely to get yourself in a clear, well-lit shop, stocked with quality used product. Most are even looking at Instagram to offer their luxury items. And also the basic indisputable fact that pawn stores are filled up with components of questionable provenance? It is simply not real, relating to industry groups, whom state significantly less than 1% of products individuals you will need to pawn become stolen. Genuine pawn shops check ID and use law enforcement to be sure the things they’re selling aren’t stolen home.

4. It’s perhaps maybe not like that which you see on Pawn Stars. Rick Harrison from Pawn Stars examines a bit of precious precious jewelry.

| Ethan Miller/Getty Images

Pawn stores may possibly not be the dens of vice some think they’ve been, but they’re also not exactly like everything you see on television shows, such as for example Pawn Stars. The mega-popular History Channel program thrust pawn stores to the limelight and helped normalize pawning, Birnholtz stated. The scenes you notice in the show, nonetheless, are not likely to relax and play call at town pawn store, that will be prone to be stocked with gold jewelry, electronics, and carefully utilized musical instruments than uncommon stone memorabilia or Star Wars collectibles.

Pawn Stars is “not fundamentally representative of exactly how many people utilize pawn stores since they deal in actually, really specific things,” Birnholtz said. “They’re a large store with most likely very good margins, so that they can manage to spend alot of cash for many unique products. Whereas many pawn stores can’t accomplish that.”

5. Pawn offers vary — a whole lot

A pawnbroker and a person | PawnGuru

Every pawn shop would offer to loan you roughly the same amount of money for the same item in a perfect world. In fact, that is maybe maybe not how it operates. The common distinction between the best and bid that is lowest for similar https://quickerpaydayloans.com/payday-loans-al/ product at various pawn stores ended up being 258%, in accordance with information collected by PawnGuru in 2015.

That disparity that is vast loan offers had been one explanation Birnholtz created PawnGuru.

in the place of investing a day visiting various pawn shops to obtain the most useful deal (or unknowingly settling for a low-ball offer), individuals is now able to use the internet, share the product they would like to pawn (or sell outright), and obtain quotes straight straight right back from neighborhood pawn stores. “That provides individuals the energy to negotiate with numerous shops simultaneously to find out what type is obviously planning to let them have the most effective deal,” he said.

6. It is possible to pawn just about anything

Interior of a pawn shop | PawnGuru

Firearms and gold could be a number of the more items that are common consider pawning once they require some money, however in concept, it is possible to pawn just about anything. You simply need certainly to locate a pawn store that thinks it might be in a position to offer your material. Various shops concentrate on different sorts of things, which will be one explanation to search around utilizing PawnGuru. Don’t assume all shop may be enthusiastic about exactly just exactly what you’re offering or have the knowledge to offer a reasonable cost.

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