There are various reasons why people take their valuable items to a pawnbroker. You may need cash urgently to take care of an unexpected bill or some cash to get you through a difficult month. If you have decided to pawn valuable items or sell them to a pawnbroker, you should be prepared to haggle over the price. Pawnbrokers almost expect you to come prepared to negotiate. They may ask you what you expect to get, so you should come prepared.
How much is a similar item selling for?
Take a look at the things that have been put up for sale in a pawn shop. Does the pawn shop have something that is similar to yours and what the price is? What do you think the value of your jewellery item is? Somewhere in the middle of that answer is the amount you might be paid. How much are you comfortable with getting should drive your negotiations.
Know the different competitions
Who are the competing pawnshops in your area? Will they offer something different? Are the pawnshops that ”will beat any good price that a competitor will offer”. It will be good for you to find out what the market would value your jewellery. You should never approach a potential buyer or pawnbroker until you know what you have and what it is worth. Then prepair yourself for some serious negotiations to get the price you want.
Cash is always king
Money is important, after all, it is the reason why you would approach a pawn shop. It is more important to walk out with cold harsh cash than a promise to pay you at some later date.
Know how far you are willing to go
Before you even step into a pawn shop you should have established the value of the item you are pawning or selling. Decide how low you are willing to go before starting any negotiations but start high. The pawnbroker will try to get the valuable item for as little as possible but you should be firm in your resolve. Do not get caught up in the heat of the negotiations.
Be respectful
Keep your cool. Things can get heated real quick. Do not give in to emotions. Be as respectful and friendly as you can be. Remember the saying: You catch a lot of flies with honey than with vinegar. Getting belligerent and angry when the deal doesn’t go your way. The pawnbroker will be nicer and fairer to you if you are respectful.
The pawnbroker has the right to offer whatever amount he wants to. If you think he is not being fair or reasonable, you have the right to refuse the offer and walk away. You can always try to find other pawnbrokers that will offer you the kind of money you want.
You need money, the pawnbroker is running a business and he needs to make money for his own business, which means that he will try to part with as little money as he can and make as much profit from the transaction and possible. You can only hope for a fair deal that brings you closer to your goal.