Pawn Shop | Clifton VA | Designer Purses and Shoes | Buy Tools (2024)

FAQs

Is it better to pawn or sell tools? ›

In most cases, selling will bring you more cash, but remember you transfer ownership of the item to the pawn shop. If you need cash, but don't want to lose your tools or items forever, then pawning would be the most effective choice.

In general, you can expect to receive about half of your item's market value in your loan. However, this depends on the item. Items that are regularly pawned, yet don't have a lot of buyers will lower the offer price. In those cases, you will receive less than 50% of the market value.

Pawnshop owners are smart and won't fall for purchasing stolen goods. They follow all of the local regulations and federal laws when it comes to purchasing goods. You simply can't bring in illegal items like drugs, passports, hazardous waste, and stolen goods to a pawn shop and expect to leave with cash.

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. Pawn shops do not require credit checks.

Power Tools + Equipment

Popular, trusted brands include: Milwaukee, DeWalt, Craftsman, Ridgid, Kobalt, Skil, Bosch, and Festool. The newer the tool, the more cash you'll likely get for it. Cleaning up your tools to remove sawdust, grease, and other dirt and grime will help get you the best pawn offer on your tool.

Pawn stores usually pay the most for jewelry like diamonds and gold, timepieces, coins, vintage sneakers, designer purses, and handbags. However, every pawn shop can buy high-ticket items, including vehicles, real estate, and jewelry.

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.

When you bring in an item to sell or pawn for a loan, the pawnbroker will already have an idea of its market value or be able to determine its value with a quick check of his resources at hand – an appraiser, or online sites such as eBay, Craigslist, Amazon or UsedPrice.com.

We know that pawning your elegant handbag is not an easy decision. However, if you need a fast short-term collateral loan, pawning your high-end bag is one of the best ways to secure cash without delay.

Can a pawn shop tell you who pawned an item? ›

If you do locate your property in a pawnshop, pawnshops usually do not release any information due to privacy laws. They also are under no obligation to answer questions.

It depends on your situation. If you want your item back, and can afford to pay back the interest, pawning may be a good option for you. But if you need cash in a hurry, and want the highest offer, selling is the way to go. If you're considering selling to a pawn shop, we caution you.

Shoes. High-end designer shoes and sneakers are a great choice to buy, pawn, or sell at a pawn shop. Some of the most popular designer brands include Christian Louboutin TM, Jimmy Choo TM, and Manolo Blahnik TM. On the sneaker end, our pawn shops carry Air JordansTM, Nikes TM, ADDIDAS TM, and more!

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. The average amount of a pawn shop loan is about $75–$100.

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.

A good rule of thumb is that tools in excellent condition will sell for 85 percent to 95 percent of the original cost, good tools 75 percent to 85 percent, average tools 50 percent to 75 percent. Below-average and poor-condition tools rarely command more than 35 percent of the original price.

If customers are really attached to an item and do not want to sell, yet still need cash, pawning is a great solution. As customers can get the item back once the loan is paid back in full (plus any interest or fees)¹. After this, the customer can collect the items they still want.