When you take an item to a pawn shop in Loudoun, VA to sell or serve as collateral, the pawnbroker has to determine a cash value for your trade, starting with assessing the condition of your offering. If it’s jewelry, are there broken parts; is it tarnished; is it collectible? Are electronics in working order; are they newer or older models? Evaluations that lead to valuations will vary by category and even individual item. Often, an experienced pawnbroker can give you a price just based on years of experience and seeing many items of the same type over decades. Sometimes staff members have expertise with a certain category of merchandise.
When personal knowledge fails, both eBay and Amazon can offer pawnbrokers some good bases for comparison; looking at similar items already sold can provide some benchmarks for negotiating.
The important thing to remember is that when a pawnbroker offers you a price, it is always with the idea that s/he is buying the item outright. This is because even if the broker knows that a customer wants to buy the item back—and that is always the assumption—s/he also knows there’s a chance that may not happen and the item will have to be resold. Therefore, any price offered is going to be below current value, so that the pawnshop can recoup the initial investment plus a profit. For this reason, selling an item outright will yield a better payout than a loan, which delays any return on investment, and also makes the initial investment uncertain.
If you have any questions about how values are determined, please visit us at Loudoun Jewelry on Maple Avenue and we’ll be happy to answer them.