We all have items in our homes that we would rather sell than keep. We may no longer have the space for them or need them and can put the money to better use. Or perhaps we need cash in a hurry due to an emergency or unforeseen event.
Whatever your reason might be for selling an item, you have several options on where to sell it. It includes pawn shops and online marketplaces such as Craigslist, Facebook Marketplace, and eBay.
And if you’re not interested in selling something, these places are also very popular with buyers looking for good deals.
In this article, we’ll cover ten advantages pawn shops offer that online marketplaces cannot match.
#1. Option to Pawn Instead of Sell
One of the biggest advantages of pawnshops is that you don’t have to sell an item to get cash, you can pawn it. Pawn shops specialize in offering short-term collateral loans. Once you have redeemed your loan, you can collect the item you pawned as security.
If you’re attached to an item and don’t really want to sell it, but need cash then pawning it is a great solution. No online marketplace offers this option. Once you sell an item on Craigslist, eBay, or Facebook Marketplace it’s gone for good.
#2. Layaway Program
Have you ever walked into a pawnshop and saw an item you really wanted but didn’t have the money to buy it straight away? Most pawn shops offer an easy solution that doesn’t involve blowing your budget or maxing out your credit card.
A layaway program allows you to pay the item off over a period of time. Once it has been paid, you can collect it.
Note: You can secure the item you want at a Maxferd pawn shop with a 20% down payment, followed by monthly payments. No proof of income or credit check is required. In addition, we don’t charge any fees or interest.
#3. See Before You Buy
Photographs can be misleading, even if they weren’t intended to mislead anyone. There’s no substitute for touching or holding the product you want to buy.
When you buy at a pawnshop, you can avoid the disappointment that many online buyers experience when they eventually receive what they ordered.
#4. No Suspicious Products
With pawnshops you don’t run the risk of paying top dollar for fake or stolen goods. All products are carefully vetted so you can buy with confidence. It’s the last place a thief wants to bring their stolen property.
Pawn shops require a valid ID for all intake transactions. Every product’s serial number along with a detailed description is forwarded to law enforcement. There it’s compared to items in a comprehensive stolen property database.
You’re much more likely to find suspicious products on an online marketplace than in a pawnshop.
#5. Safe From Scammers
There are many myths about pawnshops but they are one of the most regulated industries in the United States. The same can’t be said for online marketplaces.
For example, a site like Craigslist is great for selling to a local audience, but unfortunately there are many scams on the site. Another problem is that new listings often attract a lot of spam.
#6. Accepts Broken Jewelry
Pawn shops usually have no problem accepting broken gold and silver jewelry. Broken jewelry can be sold on sites like eBay but many buyers are reluctant to buy broken jewelry they can’t first inspect. Note that many pawn shops also offer a jewelry repair service.
#7. Free Evaluations
Established pawn shops have years of experience in dealing with a wide variety of products. And if they’re not sure about the value of an item, most pawn shops will do the necessary research. Many pawn shops also have in-house experts that specialize in jewelry evaluations.
An evaluation service isn’t something that online marketplaces provide. This increases the risk that you might inadvertently burn your fingers if you don’t know enough about a product.
#8. No Shipping & Handling
A pawnshop doesn’t charge shipping & handling fees unless you want the item to be shipped somewhere else.
With sites like eBay, shipping & handling fees can get quite expensive depending on the item’s weight or dimensions and destination. These fees are usually a separate line item but it can make a relatively inexpensive product cost a lot more!
#9. Easier to Negotiate
It’s much easier to negotiate with a friendly person in a pawnshop than with a total stranger on an online marketplace. By talking to someone face-to-face you’re more likely to come to an agreement faster.
#10. No Waiting
With sites like Craigslist, Facebook Marketplace, and eBay it takes time to create a good listing. You have to write a compelling headline, description, and add high quality images to stand out from the crowd.
Once you’ve listed your product, the waiting game starts. There’s no guarantee your product will sell or that you’ll receive bids the first time you list it.
Pawnshops are a completely different story. Whether you want to sell or pawn an item, you can get cash for it on the same day you take it to a pawnshop. If you need money in a hurry and don’t have time to waste, going to a pawn shop is your best bet.
That's a Wrap
Pawn shops have many advantages over online marketplaces like Facebook Marketplace, eBay and Craigslist. The 10 advantages we covered in this article are by no means a comprehensive list. But they illustrate why over 30 million people in the United States are pawnshop customers.
This doesn’t imply that online marketplaces don’t have advantages of their own. They offer you the opportunity to reach a big audience that might be prepared to pay more for your item. But finding the right buyer can take time and you have no guarantee that your item will sell.
The main advantage that a pawnshop offers is that you can walk in with an item and walk out with cash in your pocket. You don’t have to wait days, weeks or even months to get cash for it.
Whether you want to buy, sell or pawn an item, Maxferd is the place to go.