Pawn Shop Maple Grove Mn (2024)

FAQs

What's the most a pawn shop will pay? ›

Most pawn shops offer loan amounts of 25% to 60% of your collateral's value. Be aware that pawn shops have high APRs that can make them one of the most expensive options to borrow money.

Across the board, jewelry (authentic, real jewelry - not costume jewelry) generally yields the most amount of cash. This is because jewelry is made from precious metals, such as gold and platinum, and often incorporates diamonds and other precious gemstones. Jewelry also tends to hold its value over long periods.

Most pawn shops do negotiate for sales – but don't expect to get more than 60% of the value of your item. Remember – their end goal is to resell your item for a profit. They don't care about the sentimental value or history, or even the unique details that add value.

If you no longer need or want an item, it makes sense to sell it and put the money to better use. If you don't want to lose ownership of your valuables, using them as collateral to get a pawn loan is the way to go. Whether you want to sell or pawn your valuables, Maxferd is the place to go.

According to the search results, pawn shops generally offer loans ranging from 25% to 60% of an item's resale value [1]. So, if you were to pawn a $1000 item, you might receive a loan amount between $250 and $600.

Pawn shops that buy TVs will also pay more for a bigger screen. If your TV's screen is less than 26 inches, you'd be lucky to get over $50 for it. If your screen is greater than 42 inches, though, a pawnbroker like GEM might offer you over $200, provided the TV is one of the brands mentioned above.

Shops know they can sell tools faster (and for more money) when they are trusted brands. Bosch, DeWalt, Milwaukee, Stihl, and Snap-On will earn you the most. Usually, pawn shops will pay anywhere from $30-$200 for working tools, but you can expect that price to increase if you have any of these top performing brands.

Don't Be Afraid to Haggle

Haggling is a common practice when it comes to pawn shops, so don't be afraid to negotiate. Start by making an offer that's slightly higher than what you're willing to accept, and be prepared to meet somewhere in the middle.

Listen more than you speak

Unless they ask directly, your pawnbroker does not need (or want) to know where you found your item, how long you've had it, or how much you originally paid for it. In fact, disclosing too much information like this may only hurt you.

How to calculate pawn value? ›

Pawnbrokers have access to value databases that list current resale prices for common items. If an item isn't listed in these databases, they may check eBay to see what customers are paying for the item. Jewelry, antiques, and historical artifacts may require a special appraisal by an expert.

How Pawn Shops Work. At a pawn shop, you leave your property and, in return, the pawnbroker typically lends you approximately 25% to 60% of the item's resale value. The most commonly pawned items are jewelry, electronic and photography equipment, musical instruments, and firearms.

Another benefit of selling something to a pawn shop instead of getting a pawn loan is that you typically receive more money for the item. The pawn shop will determine the value and make you a slightly lower offer. After all, it still needs to sell it to make a profit.

Pawning is a good choice when someone needs cash but does not want to lose ownership of an item. This includes getting a loan (AKA a pawn) based on the value of the item pawned, receiving quick cash, and the return of the item when the loan is paid off by the scheduled due date. Pawn is a non-recourse loan.

You are most likely to get the best value for the item you want to exchange at a buy-sell-trade store — rather than accepting a high-rate loan that doesn't match your item in value, you'll receive a fair and honest amount of money or the equivalent value in store credit.

Often, they think it will get them more money. Others hold the exact opposite viewpoint. The truth is (when pawning or selling) that the cash offered to the customer is based on the merchandise, not the type of transaction. Whether to pawn or to sell primarily it depends on the customer's needs and preferences.

Cons. Expensive fees: Pawn shop loans typically charge around 200% APR, with 20% – 25% monthly interest rates. Low loan amounts: Pawn loans are only a percentage of an item's resale value, which is typically much lower than its original value.