3. Pawn shops are never as frightening as you might think

A Cartier view is presented in a pawn store in Beverly Hills, Ca. | Gabriel Bouys/AFP/Getty Images

Pawn stores don’t precisely have the best reputation. In several people’s minds they’re seedy and a little frightening, run by creepy-looking dudes, and filled up with hopeless clients. But those pawn shop stereotypes aren’t grounded in fact, in accordance with Birnholtz.

Pawnshops “are perhaps not the happiest destination on Earth,” Birnholtz admitted. However the industry has washed up its work in present years. “I believe that the amount of professionalism and cleanliness and solution has enhanced actually significantly within the pawn industry in the last 30 or more years.”

Head to a pawn store today, and you’re likely to get your self in a clean, well-lit shop, stocked with quality utilized product. Most are also looking at Instagram to market their luxury items. In addition to basic proven fact that pawn stores are filled up with components of dubious provenance? It is not real, in accordance with industry teams, whom state not as much as 1% of things individuals attempt to pawn grow to be taken. Genuine pawn stores check ID and use law enforcement to ensure the plain things they’re selling aren’t stolen home.

4. It is maybe perhaps not like that which you see on Pawn Stars. Rick Harrison from Pawn Stars examines an item of precious jewelry.

| Ethan Miller/Getty Images

Pawn stores is probably not the dens of vice some think these are typically, but they’re also not exactly like that which you see on shows, such as for example Pawn Stars. The mega-popular History Channel program thrust pawn stores in to the limelight and helped normalize pawning, Birnholtz stated. The scenes you notice from the show, nevertheless, are unlikely to relax and play away in town pawn store, that is prone to be stocked with gold jewelry, electronic devices, and carefully utilized musical instruments than unusual stone memorabilia or Star Wars collectibles.

Pawn Stars is “not fundamentally representative of just exactly how many people utilize pawn stores since they deal in really, really specific products,” Birnholtz said. “They’re a shop that is big probably very good margins, to enable them to manage to pay a pile of cash for many unique things. Whereas many pawn stores can’t do this.”

5. Pawn offers vary — a great deal

A pawnbroker and an individual | PawnGuru

In a great world, every pawn store would provide to loan you approximately exactly the same sum of money for similar product. In fact, that is maybe maybe not how it operates. The common distinction between the best and cheapest bid for similar product at various pawn stores ended up being 258%, relating to information collected by PawnGuru in 2015.

That vast disparity in loan provides ended up being one explanation Birnholtz created PawnGuru.

in the place of investing a day visiting different pawn stores to obtain the most useful deal (or unwittingly settling for a low-ball offer), individuals is now able to go surfing, share the product they would like to pawn (or sell outright), and obtain quotes right right back from neighborhood pawn stores. “That offers individuals the ability to negotiate with numerous stores at the same time to find out what type is truly likely to provide them with the greatest deal,” he said.

6. You are able to pawn just about anything

Interior of the pawn shop | PawnGuru

Firearms and silver could be a few of the more items that are common think about pawning if they require some money, however in concept, you are able to pawn most situations. You merely need certainly to find a pawn store that thinks it could be in a position to offer your material. Various shops focus on several types of things, which can be one explanation to look around making use of PawnGuru. Don’t assume all shop may be enthusiastic about exactly just just what you’re offering or have the information to offer a reasonable price.