5 Pawning Mistakes Beginners Should Avoid

Ever seen the inside of a pawn shop Brisbane? There is a first time for everything. However, being a newbie does not mean you should be clueless. Many people have had some experience with pawnshops that have shared their experiences before and a lot of information that you can access online. Learning from those that have used pawnshops before and information you can get online, there are some common things you should know to avoid.

Here are five of the most important things you can avoid to make pawning your valuables easier:  

  1. Avoid getting too emotional about your stuff

Getting too emotional or sentimental about the things you are pawning will not do you any good. They can make it hard for you to part with the valuable item itself. It could also lead to you thinking that your items are worth more than they actually are. The best thing you can do is to make peace with the fact that you are letting go of something that meant something to you because you have to. If it means that much to you, you’ll be more motivated to find a way to pay the loan back in time, so that you don’t end up losing it.

  1. Not doing your research

Before you can walk into a pawn shop, familiarize yourself with how they work. Some pawnshops are specific about the things they will accept whilst others accept virtually everything. Make sure you ask the pawnbroker what items they are most interested in.  Doing research includes finding information about how things are valued like how gold jewellery is valued. This way you will have an idea of what your jewellery is worth, which is handy when it comes to negotiations.  

  1. Splitting sets and selling them as individual pieces

Most people would think that splitting things that come as part of a collectible set will give them more money. Or they will take one piece and leave the other. The truth is that there is more money to be made in pawning or selling all the pieces of a collection because collectors are always looking for complete sets not parts of it. Something that comes as part of a set, loses part of its actual value if the other piece is not there. A lot of collectors go to a pawn shop Brisbane to find things that interest them.  

  1. Not knowing how golds work

Gold jewellery is popular among pawnshops. Its value is measured by weighing it, calculating the actual amount of gold based on the karatage, and then working out the price based on the current spot price. To make sure that you understand the gold price, you should keep an eye on the gold market, weigh it yourself and keep an eye on the scale when the pawnbroker weighs your gold.   

  1. Being a pushy negotiator

Pawnbrokers expect you to haggle over the price they give you. However, you should have realistic expectations and not be an overzealous negotiator. Be reasonable and don’t be an overzealous negotiator, otherwise, you might end up going home with no cash.