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A person putting away their jewelry in a jewelry box.

4 Ways to Tell Your Belonging is Ready to Pawn

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The practice of pawning may be as old as time, but if it’s new to you then you may be unsure whether you’re ready to dive in and give it a try. While a pawn shop’s primary business is generally lending money on collateral, they often let customers know if they are interested in outright buying valuables when they believe the item has significant resale value.

But sometimes the question for a potential seller becomes, are you ready to pawn something you own? Four things will lead you to your answer.

1. You’re Ready to Let Go of Your Belonging

The first sign you’re ready to pawn a watch or piece of jewelry could be an emotional one. Perhaps there is an electric guitar in the corner of your living room gathering dust that is in perfectly good shape. Then, one day, you are ready to let go and free up space in your home. You realize you can still play again, it just doesn’t have to be this specific instrument.

And just like that, you have crossed the first threshold of pawning: letting go of something in your possession that may be worth more to someone else.

2. You’ve Had It Appraised Independently

This next step requires gathering a little information. To successfully pawn a belonging, it helps to first have an idea of what that object is worth. Your local pawn shop will usually give you an estimate if they are interested, but consider looking into its value first. Unless it’s a piece of electronics whose market value is more easily understood, you can also hire a professional appraiser who specializes in the type of item you need assessed, whether it’s:

  • Art
  • Antiques
  • Gold
  • Gemstones
  • Jewelry
  • Collectibles
  • Something rare and unique

The process will likely include a detailed inspection of the object’s condition, its origin, and comparison to similar items.

3. A Pawn Shop You Trust Wants to Buy Your Item

It helps to know your wish is reciprocated. You know a pawn shop is interested because they will tell you, and there are a few ways this may go down:

  • Pawn shops signal their interest in buying something by offering an immediate, no-obligation appraisal.
  • You may notice signs posted in a nearby pawn shop.
  • There could be a running promotion that invites people to bring in high-demand goods like gold, jewelry, electronics, or designer items.
  • They may advertise that they are paying top dollar for specific items, which encourages people to bring in valuable possessions for an appraisal.

When they are interested in a certain genre – say, vintage Star Wars collectibles – they may advertise their willingness to purchase those types of items on social media. However, If you ever feel pressured to sell against your will, head for the exit.

4. The Price Is Right – Or You Just Really Need the Cash

Most of all, you need the money. Either the price is right. You’ve decided you would be lucky to score $150 for that guitar you never play. Or, something has happened in your life and you need cash soon to cover an unexpected expense. Still, think about how to respond to an offer so you’re not caught off guard. When you visit a pawn shop, the staff will often assess the item right in front of you. If you get an offer based on its market value, condition, and demand, think through the steps you can take next:

  1. Say yes enthusiastically, and walk out with the money you need.
  2. Respond with a counter offer and see where that takes you.
  3. Ask for more information (always get terms for paying back a loan).
  4. Say you will think about it, leave, and look elsewhere for a better offer.
  5. Turn them down politely, as you just realized you are not ready to say good-bye to your valuable.

Talk to Fullerton Pawners About Pawning Your Belonging

At Fullerton Pawners, we are used to speaking with people from all walks of life who have lots of questions about the goods they want to sell or use as loan collateral. There is no obligation to sell, just an opportunity to make a transaction when you’re ready. If you’re curious about the potential for selling something, let’s talk!

Contact Fullerton Pawners online, or call us at 773-637-9999 to discuss pawning an item, as well as our many other services!

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Different kinds of gold jewelry.

How Do Gold Purchases at Pawn Shops Work?

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If you’re struggling to afford the holiday gifts on your list – or have some unexpected bills to pay – you may be eyeing a gold belonging that could be pawned for cash. The idea can seem a bit strange to someone new to the world of pawning, but items containing gold are sold or used as collateral on loans every day. Your local pawn shop should be more than helpful in explaining the process to you and answering your questions, without any obligation to sell.

Whatever your plans, start by gathering information about how the process works before making any deals. Doing so will help to ascertain the value of the item, or at least get comfortable with the language you may hear when you bring it in for consideration.

What Does It Mean When Gold Is Rallying?

As you may have noticed, earlier this year there was a lot of chatter about gold “rallying” in the news. What was all the fuss about – and how might it affect your outcome as a seller?

Since the price of gold fluctuates along with most everything else, it is useful to know how the soft, malleable metal is currently valued when you head to a pawn shop. When its market price hit a high earlier in 2024, some folks were taking a second look at their antique jewelry drawer. During inflationary times, the price of gold tends to go up, and that was happening on a market level recently due to inflation.

Some of what we were hearing had more to do with the predictions of investors and concerns of people considering putting more of their investments into gold as a financial safety measure. However, the process for individuals with something to sell is the same no matter what times we’re in: investigate the current valuation of anything you are considering pawning, whether it contains gold, silver, gems, or none of the above.

Want to Pawn a Gold Belonging at a Pawn Shop?

Are you thinking of pawning something that is either partially or entirely made of gold? The pawning process couldn’t be more simple:

Step 1: Make sure your possession is truly made of gold.

One sign is the test of time, as gold doesn’t corrode or become tarnished like an imitation metal would. If you’re unaware of the history of an item or want to double check, ask an experienced local pawner who you can trust.

Step 2: Bring the item to a pawn shop during business hours.

Get the deets beforehand!

Step 3: Have a conversation during which you will receive a valuation.

This is one of the biggest differences between pawning and a routine shopping experience. Neither side knows what something will sell for when you walk through the doors.

Step 4: Expect more detailed information about your goods.

When it comes to gold, the business may want to figure out the karat, a measurement of its purity that will determine the value. If so, they may want to weigh it, as well.

Step 5: Let them know if you simply wish to sell.

This process is more straightforward than a loan. They will typically examine the item to verify its authenticity and then offer you a price.

Step 6: Say you are looking for a loan.

This will lead the pawner to explain their loan terms in a clear manner you can understand.

Step 7: Prepare for negotiation.

Some pawners are willing to negotiate a price with you. Others may want to stick with their original offer. Just know that you have more power on your end if you are in possession of something the store really wants, and may be able to convince them to give you a better deal.

Step 8: Walk out the door with more money and a good feeling about your transaction.

Either you will need to repay the loan within a given time frame, or you have said goodbye to your gold. If you took out a loan, make a note of the maturity date so you can pay it back in time without added interest.

Bring Your Gold Items to Fullerton Pawners on Chicago’s North Side

Interested in pawning gold or something else? Fullerton Pawners is interested in gold, silver, precious gems, and a whole range of valuables you may wish to sell. Contact Fullerton Pawners by calling 773-637-9999 and get answers to all of your pawning-related questions!

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An open sign of a store front.

Smart Lessons from the TV Show Pawn Stars

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Think pawning isn’t popular? This age-old business practice is so universal that a TV show about it on the History Channel turned into an international hit – with a lot of lessons to learn for anyone tuning in. 

The most valuable pearls of wisdom viewers got from the show could apply to any exceptional pawn service. To name a few:

1. Pawning Is Universally Popular

Since launching in 2009, the reality TV show Pawn Stars has kept millions of viewers around the globe enthralled with everything pawn-related. It’s taught us what to look for when exploring the different services our neighborhood pawn shop is offering. Also, about the kind of relationship you can build with an honest, expert pawner once you find them.

2. Pawn Shops Are Fascinating – You Never Know What You’ll Find

On TV, people who tune into the show are treated to more than haggling. Those scenes are part of the entertainment and may be partly scripted. But you also get to listen in on interesting conversations about the history of artifacts like a nineteenth century navy pistol or a poker cheating device. With an inventory in the thousands, the pawn shop in question chooses a few items to focus on in each episode, delving into the history behind each one.

3. How Much Is It Worth? Customers Want Accurate Appraisals of Goods

Other than some fun family dynamics, the main attraction of the show is often the recurring segments showcasing product appraisals. When folks bring in valuables from their attics, they want to know how much they are worth. This aspect of the show is a chance to display experts discussing what the market value of goods might be and why, which is why the show was often compared to Antiques Roadshow. Watch enough episodes and you’ll get a sense for how your own family heirlooms might be appraised.

4. Good Pawn Shop Brokers Tell It to You Straight

What stands out about Rick, the co-owner of the shop behind the show, is that he is a straight shooter who tells it like it is. If he doesn’t know the value of an item brought into his store, he takes his time to find out. 

Granted, this kind of plot makes for good TV and doesn’t necessarily reflect how the average exchange goes in real life. One highlight of the show is that numerous experts are introduced to offer up insights into the objects that will indicate what their market value would be today. All of this gives these segments an air of authenticity – a quality you too should expect from any service you would consider.

5. Honest Pawners Gain a Trusting Clientele

Perhaps the central lesson in Pawn Stars is that shoppers need to trust the person they’re considering doing business with. Remember, there are multiple services that consumers could potentially take advantage of at a reputable pawn shop:

  • Selling antiquities 
  • Taking out small loans
  • Using personal valuables as collateral
  • Assessing the value of merchandise 
  • Shopping for unique items

Every good business must earn the confidence of its customers. At the end of the day, Rick and the other characters know their stuff. They know when not to take the advice of certain appraisers, as well as when to learn from them.

6. Some Pawn Shops Can Repair Valuable Items for You, Too

Some episodes involve the Pawn Stars offering to repair items to determine their potential worth (or because something needs fixing). Need a piece of electronics equipment checked out for a possible repair? At Fullerton Pawners on Chicago’s north side, we also restore merchandise for customers, depending on the item and its condition. Give us a call or stop by to discuss your request. 

Fullerton Pawners in Chicago Has the Best Reputation Around 

Need a loan on short notice, or just want to browse some pretty cool inventory? There won’t be any TV cameras. Just a highly experienced and knowledgeable staff that gives clients an honest assessment of their goods, as well as loans when they need them.

Contact Fullerton Pawners by calling us at 773-637-9999, or stop by today to have your own merchandise evaluated.

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A person examining a ring.

Top Qualities Pawners Look for in Merchandise Appraisals

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Giving proper appraisals for merchandise is one of the most important services a pawn shop can provide. But how do they come up with their appraisals – and how do you know you can trust them? It starts with an appreciation for the process itself. Some appraisals stem from a comparison against an identical or near-identical item. If the shop doesn’t have the exact item on hand, they must familiarize themselves with the goods that come in their door so they can do their best to provide an accurate dollar amount when buying and selling goods.

Shoppers are sometimes surprised when they get a different appraisal when shopping around. Before selling your grandfather’s watch or buying a beautiful antique brooch you saw in a window, take a closer look at the process so you can understand how appraisals are done. Just like pawn shops look for certain qualities in products, the customer is also seeking out qualities in the appraiser. 

Details Pawn Shops Look for to Make Appraisals

If you’re thinking of selling something, it will help to find out for yourself as much about the item as possible. If it’s a family heirloom, have a conversation with someone in your family to discover more about the background and condition of the watch, artwork or piece of jewelry you’re having appraised. Talking to an older relative may provide you with unexpected details that can give a more accurate picture of the item. 

Meanwhile, the pawner will also examine a range of details aimed at assessing every aspect of the item in question. Some things they may look for include:

  • Condition
  • Age
  • Size
  • Distinctive features
  • Where it originated
  • Market value of product or materials

Since there is not always going to be a highly similar item against which to compare your belonging, they will do their best to come up with an assessment based on the above factors to make a determination.

Specific Appraisal Expertise

The appraiser should have expertise in the area of your particular item. For example, to have your antique Tiffany lamp appraised you want to talk to an antiques appraiser with knowledge in that specific area to get an accurate assessment. It’s easier to appraise turn-of-the-century sterling silver pocket watches when they have done so multiple times in the past. Industry certifications, designations and licensing can be helpful in letting customers know that they’re dealing with someone reliable who is able to make informed and accurate appraisals.

Carat Levels of Gold and Silver Jewelry

Jewelry is one of the most common items to be brought into pawn shops. And the carat level can be measured to tell you the purity of the piece of jewelry being examined – for gold, silver, copper and even zinc. There is a different composition of gold at different carat levels, so the pawner may take a look at the percentage of gold to determine the value of the jewelry.

Understanding the purity of what you have, as well as something you may want to buy, is important because it helps you know whether you’re engaging in a good-faith transaction with the business. 

Do You Have to Visit the Pawn Shop in Person?

Find out what the process is of the pawn shop in question. If you call or contact them online, some pawnbrokers may request photos to come up with an initial estimate or determine whether there is potential for the item to be sold at all.

Fullerton Pawners In Chicago Is Trusted to Make Reliable Appraisals 

At Fullerton Pawners, our team of professionals is prepared to answer all of your questions about how we come up with appraisals at our shop. With 30-plus years of experience in the neighborhood, you know a few things about us already:

  • We are a trusted local business.
  • We have a history of merchandise appraising expertise.
  • We have a good reputation in our industry.
  • We take our time making accurate appraisals.

In addition to buying and selling goods, we can also exchange them for loans. Reach out to Fullerton Pawners online, or call us at 773-637-9999 today.

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