Now that you’re familiar with five important must do’s when doing business with a pawn broker (if you missed it, check them out here), it’s time to share a few don’ts, as well. So here are a few things to avoid next time you’re considering buying, selling, or securing a loan at your local pawn shop.
At Common Exchange, we love fielding our clients’ questions regarding the inner-workings of the pawn industry. One of them, which we hear quite often, has do to with the difference in pawn offers from shop to shop. Since the answer is a bit involved, we thought it deserved a data-driven blog post of its very own. Here goes:
Getting a collateral, or pawn, loan couldn’t be simpler…all you need is a valid form of identification and an item of value. But we’d like to make it even easier with a list of major Do’s to consider before heading down to the pawn shop.
When most people are thinking of items that can be pawned, their minds often gravitate towards things like precious metals, electronics, and fine jewelry. However, they may be overlooking something that they use just about everyday. No, we’re not taking about the TV remote control; we’re referring to their automobiles.
Pawn shop clients are an extremely diverse group, coming from just about every walk of life. While we love all of our customers, some of them can be particularly hard to forget...
Pawn shops have traditionally served their communities by offering quick, no-hassle loans to their customers, even for small dollar amounts. But lately, pawn brokers who cater to jet setting clients from around the globe have become big news. Unquestionably, one of the biggest names in pawn for the ultra-wealthy is Borro; it’s been featured in outlets including The Financial Times, The Wall Street Journal, and CNN News, and has lent nearly $300,000,000 since its inception in 2011.
Smartphones have become an integral part of modern life, but this convenience doesn’t come cheaply. That’s why savvy consumers want to get maximum value for their used device before purchasing a new one. Using your phone as collateral or trade at a pawn shop is a great way to do this. So how can you get top value for your used iPhone or Galaxy? Here are some tips to consider:
Whether you’re a guitar aficionado who loves collecting the finest pieces or are a future rock star looking for your first 6-string, Common Exchange has just what you’re looking for. That’s because we not only accept guitars as loan collateral, we have a wide selection of lightly used standard and bass guitars available for purchase in our second-hand stores. That’s Why The Pawn Shop Is Where You Should Be Buying Your Next Guitar-So why should you skip the big box stores and shop for your new axe at a pawn shop? We’re glad you asked… (more…)
What to Know Before Selling Your Gold-Precious metals, such as gold, are always in high demand. In fact, the price of gold has already risen over $40 per ounce in the first month of 2016 alone. So, if you have some gold coins or jewelry that aren’t doing much beyond collecting dust, you may want to consider taking advantage of the current market. Whether you’re interested in selling or pawning your gold, here are a few things you should know before striking a deal: (more…)
These days, it’s hard to flip through the TV channels without coming across a pawn reality show. While they are great entertainment, highlighting some of the more unique items and personalities in the pawn world, they still leave many viewers with misconceptions about how the pawn industry actually operates. We’d like to clear up misunderstandings by answering 7 Common Questions About How Pawn Shops Operate that those new to pawning frequently ask. (more…)