A Cartier view is exhibited in a pawn store in Beverly Hills, Ca. | Gabriel Bouys/AFP/Getty Images
Pawn stores donвЂ™t precisely have the reputation that is greatest. In a lot of peopleвЂ™s minds theyвЂ™re seedy and a little frightening, run by creepy-looking dudes, and filled up with hopeless clients. But those pawn shop stereotypes arenвЂ™t grounded in fact, based on Birnholtz.
Pawnshops вЂњare perhaps maybe perhaps not the happiest spot on Earth,вЂќ Birnholtz admitted. However the industry has washed up its work in current years. вЂњI genuinely believe that the amount of professionalism and cleanliness and solution has improved really significantly within the pawn industry in the last 30 or more years.вЂќ
Head to a pawn store today, and youвЂ™re likely to get your self in on a clean, well-lit shop, stocked with quality utilized product. Some are also embracing Instagram to market their luxury items. While the basic proven fact that pawn shops are full of components of questionable provenance? It is simply not real, relating to industry teams, whom state significantly less than 1% of things individuals attempt to pawn grow to be taken. Genuine pawn stores check ID and use law enforcement to be sure the things theyвЂ™re selling arenвЂ™t stolen home.
4. It is maybe maybe perhaps not like everything you see on Pawn Stars. Rick Harrison from Pawn Stars examines an item of precious jewelry.
| Ethan Miller/Getty Images
Pawn stores is probably not the dens of vice some think these are generally, but theyвЂ™re also not quite like that which you see on TV shows, such as for example Pawn Stars. The mega-popular Channel that is history program pawn stores in to the limelight and helped normalize pawning, Birnholtz stated. The scenes you notice regarding the show, nevertheless, are not likely to relax and play away in your neighborhood pawn store, that is almost certainly going to be stocked with gold jewelry, electronics, and carefully used musical instruments than unusual stone memorabilia or Star Wars collectibles.
Pawn Stars is вЂњnot fundamentally representative of just just how a lot of people utilize pawn stores simply because they deal in actually, really specific products,вЂќ Birnholtz said. вЂњTheyвЂ™re a large shop with probably decent margins, so that they can manage to spend a lot of money for many unique things. Whereas pawn shops that are most canвЂ™t do this.вЂќ
5. Pawn offers vary вЂ” a whole lot
A pawnbroker and an individual | PawnGuru
In a great world, every pawn store would provide to loan you approximately the exact same amount of cash for similar product. In fact, thatвЂ™s maybe not how it functions. The common distinction between the greatest and bid that is lowest for similar product at various pawn shops ended up being 258%, in accordance with information collected by PawnGuru in 2015.
That disparity that is vast loan provides had been one explanation Birnholtz created PawnGuru.
in place of investing a day visiting different pawn stores getting the most useful deal (or unwittingly settling for a low-ball offer), individuals are now able to look online, share the product they would like to pawn (or sell outright), to get quotes right straight back from neighborhood pawn stores. вЂњThat provides individuals the ability to negotiate with numerous stores at the same time to find out what type is obviously likely to let them have the most effective deal,вЂќ he said.
6. It is possible to pawn most situations
Interior of the pawn shop | PawnGuru
Firearms and gold may be a few of the more items that are common consider pawning if they require some money, however in concept, you are able to pawn most situations. You merely want to locate a pawn store that thinks it could be in a position to offer your material. Different shops concentrate on different sorts of things, which will be one explanation to look around making use of PawnGuru. Its not all shop may be thinking about exactly what youвЂ™re offering or have the information to provide you with a price that is fair.