The Top 3 Tips for Negotiating at Pawn Shops

One of the best things about buying and selling with local pawn shops is having the ability to haggle. Why settle for full price at a retail store when you get can get the exact same item at a much lower cost? With these pawn shop negotiation tips and tricks in mind, you can walk away with more money in your pocket.

1. Research Valuable Items – For higher priced things like diamond rings, it can be helpful to do a little research on their current worth. Consider getting an appraisal ahead of time to help you reach a good compromise. It’s hard to negotiate unless you educate yourself on the price first. Avoid being too pushy or knowledgeable, though. Too much pushback can do more harm than good. Remember that it’s ultimately the pawnbroker’s job to place value on these items.
2. Show Your Customer Loyalty – By doing repeat business with a pawn shop, it opens the chance to get an even better deal. Get to know the staff on a first-name basis and don’t be afraid to share about any emotional attachments you have to certain items. While pawners tend to avoid getting caught up in a good story, they may be more willing to cut you a break if they have already built a rapport with you.
3. Have a Minimum/Maximum Number – Decide beforehand what price you are willing to work with, and what will be the breaking point for walking away. Of course, it’s important to be reasonable, too. You are most likely not going to receive the best price you have in mind but, at least, you will know how much you are willing to bend while making an agreement.

When you’re ready to negotiate, stop by your local GEM Pawnbrokers or call us at (718) 596-5626.

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