Have you been considering pawning to get some cash? You need some kind of guide to take you through the process. It may seem simple. The whole idea is to take your valuables to a Pawnbroker, have it evaluated and get an offer that you can accept, haggle over or simply reject offhand.
You first need to identify a Melbourne pawnshop that will give you a fair price. But how do you know what you are being offered is fair? You need to work out for yourself what the value of your item should be. Forget the retail value. No pawnbroker will offer you the retail value of whatever you are selling even if you are selling something that is new and still in its box. You should take your item to a number of Pawnbrokers in your area until you find one that offers you a higher price. If you have things to pawn or sell, the idea of haggling with anyone over what your valuable items are worth might be daunting. There are some basic things you can do to make the engagement more pleasant.
First, you need to understand the fundamentals of pawning. You give your items to a Pawnbroker who has some experience appraising your items or can get a professional appraiser to look at the things you have brought in. He or she will make an assessment and give you an offer. He might want to suds you out first about what you know about the items you have and what they are worth by asking you questions. You may not agree with the price he is offering, in which case you will have to haggle your way to another price. Once you are happy with the offer, you get your cash and a pawn ticket detailing the loans and the payment terms you have agreed on.
Keep in mind that a pawnbroker needs to make a profit. If your gold bracelet sells for $250 at the jewellery store, that’s not what a Pawnbroker will offer you. He will look at other sources of information like eBay, gold-dealers and some other databases. A Pawnbroker wants you to pay the loan back, that is what is ideal for him or her. He doesn’t want to be saddled with selling your item because you failed to repay the loan. He will set the price low so that he won’t lose out in the end.
Be careful with how sentimentally valuable your item is. If you don’t want to lose it, then don’t fail to repay your pawn loan on time, otherwise, the Pawnbroker will be forced to sell your items. If you are pawning your ex-husbands jewellery gifts then they may be things you won’t mind losing, however if you are pawning a family heirloom think very hard about how you are going to repay your loan. Analysts believe that only 15 to 80 percent of people who pawn their stuff default on the payment.
Gold jewellery is always in demand. It’s a hot commodity and pawnbrokers know that it is easy to liquidate. Thy will readily accept gold jewellery as collateral on any loan. They will also readily buy gold to sell in their pawnshops. There are other things that are popular like cellphones and tablets. Brand names tend to be more important and anything that comes with an “Apple Logo” is desirable.
