Pawning means to loan a relevant item that pawn shops accept to pawners as a collateral item for a quick buck and if the money is not returned to the lender with an added interest they have the right to sell the collateral. Let us know more detail about ‘Best Things To Pawn’.
Best Things To Pawn
While this may sound like a good deal, it often doesn’t pay much as pawners deduct 20%-60% of the item’s market price when loaning money. Hence, your item may have cost you thousands, but it doesn’t give you much.
Some of the best things to pawn for up to $1000 are smartphones, designer items, firearms, and more that you will read about below.
Best Things To Pawn:
Jewelry & precious metals
Jewelry has been a big and common investment forever that can both be donned as an accessory or sold off when in need of money or just because of its high market value.
It is so far also the most pawned in the world as it brings the highest amount of money possible from pawning, specifically gold is a metal that brings the most money when pawned.
As aforementioned, pawn shops take away 20-60% of the item’s market value, and hence to earn $1000, the jewelry must be around $1800-$2000.
Firearms
A good gun can range anywhere from $100 to thousands of dollars. Here are some ideas on how much some licensed guns can loan you:
A small fire like a Marlin 60 Rimfire can loan you $100 whereas rifles can go upto $1000.
Electronics
1. Smartphones
When it comes to electronics, smartphones might just be the ones with the highest pawning price. They are practically a dire necessity in today’s world and are easily traded off for a good amount.
However, the highest price for even mobile phones only ranges so far. If you have a top-notch phone with a purchase period of a few months, there might be a chance of you getting $700 but otherwise, its highest price goes up to $500.
Following are some brands that loan for well:
- Samsung
- Apple
- Xiaomi
2. Laptops and monitors
Laptops and monitors barely get you any money through pawning as they are products with very high depreciation value, so while it is a worthy and advanced investment, pawning it would only gain you $100, hardly.
If you were to pawn the first-hand laptop like Macbook in its purchase year itself, then there might be a chance of getting a maximum of $1200. Brands like Hp and Dell would gain you around $600, maximum.
3. Watches
Watches are often worth quite a bit in pawning although it is nowhere near their original amount, a good quality watch can get you well over $500 and even $1000. One just has to trade a watch of the following brands:
- Movado
- Rado
- Breitling
- Panerai
- Rolex
- IWC
4. Refrigerator
Refrigerators are some of the very easily acquired items these days, hence, they owe you very low when pawned. Pawn Shops look for more handy things rather than something as big as a refrigerator so their chances of loaning you any money are low but if you’re lucky, they would get you anywhere from $100-$500.
5. Television
Often people attempt to pawn items that are old and have lost their appearance, Televisions are some of the very common items among those. The reality is, pawn shops hardly ever exchange old televisions that have a screen smaller than 26 inches and if they do, they would hardly get $50 for one.
The most televisions loan for is around $200 and that too comes with a good conditioned Smart Flatscreen TV of the top-notch brands like:
- Samsung
- Sony
- TLC
- Panasonic (Rated for lasting the longest so that might help while pawning)
- Philips
6. Gaming Console
Gaming consoles, due to their high prices and even higher demand in the market, are some of the most bought products from the pawn shops so pawnbrokers are often very accepting of them. They can loan you around $100-$200.
- PS4 is an extremely desired item in the market but it has a cost of $400 so if you pawn it, it would bring you around $200.
- If an Xbox is valued at around $500, it would be pawned for roughly $100 to $300 but if the model is old, it could go lower than $100.
7. Designer Items
Designer items are highly requested items that not everyone can afford so they are well sought after in pawn shops. If one trades any of these brands in a good condition, they can easily earn them $100-$500:
- Coach
- Rayban
- Michael Kors
- Christian Dior
- Louis Vuitton
Conclusion
Pawn shops bring about easy money if you’re one to take a risk. It is a good solution when one is in urgent need of money but if the risk of not returning the money is high then selling your items would be a much-benefitting choice.
Frequently Asked Questions
- What happens with electronic items once they are pawned?
All electronic items like smartphones, computers, and digital watches are formatted with their data right after they are pawned.
