Pawning is a great option for when you are in need of quick cash. There are many different pawn shops in the New York City area, and many of them take different things. One thing is for sure, if you need a quick loan, one of your best options is to work with a great pawn shop. In this article, we want to cover different items that can be pawned, how to pawn them, and what to expect in terms of your loan amount. If you are in the Bronx or NYC and need a pawn shop, come visit one of our two locations in the Bronx.
How Much Jewelry Should I Pawn for $100?
One of the most common choices for a pawn loan is jewelry. Precious metals like gold and silver as well as stones like diamonds are commonly pawned at pawn shops across the the country. The cost of jewelry unfortunately depreciates over time, what could have cost thousands of dollars when it was bought might no longer sell for as much. Pawn loans are based on resale value and are usually lower than what you would get for outright selling the item to a reseller. Some good options for a $100 loan would be bringing multiple earrings, necklaces, rings, and bracelets that are made with gold and silver. Make sure the jewelry is made with real gold and silver and is not simply gold-plated or gold-filled.
Can You Pawn A Watch?
Yes, watches are also common items for getting a pawn loan. As long as the watch is a part of a well-known luxury brand like Rolex, you should be able to get a decent loan based on the resale value of the watch. One thing to be aware of is the condition of the watch. Any scratches or issues with the watch can greatly decrease the resale price and therefore the pawn loan you would be able to get for that watch.
Can I Pawn Electronics for $100?
It depends on what the pawn shops in your area are comfortable pawning and also the condition of the electronics. Electronic devices often retail for a few hundred dollars and have a quick depreciation in value. Both because of use and the fact that electronic devices are often replaced with newer models, driving down the demand for the older versions. For this reason it is sometimes difficult to get a larger pawn loan for electronic devices. Consider checking ahead with a pawn shop to get a good idea of what a specific device might be worth.
Where Should I Pawn My Items in New York
Going to pawn shops in the city is often the best way to get great values on your items. Even if you live outside of the city, a quick trip to NYC is a great way to find a pawn shop that can work with you and provide you a great loan. As we all know, city prices tend to be higher than the areas outside of the city. Plus, city pawn shops work with larger populations so they might take items that other pawn shops don’t take.
Pawn Items in NYC
If you live in the New York City area and need to pawn items, or are interested in buying or selling used items, please give us a call. We would be happy to discuss our pawning options.
