Pawn Shops Early Indicators of Economic
Keep your eyes peeled for these hot buys hiding in your local pawn shop inventory.
When was the last time you browsed your local pawn shop inventory? Urban legends may have you believe that these stores are full of junk. That myth couldn’t be further from the truth. Pawnbrokers go out of their way to buy items they know will sell. They also keep their eyes open for collectibles and other valuable objects. Here are some things you may find:
Did you know the market for WWI and other military items is huge? If you want to start your own collection of war or historical memorabilia, you should browse a pawn shop first. You may be able to locate uniforms, propaganda posters, old letters, or even weaponry from the Revolutionary War and beyond. Depending on how rare or hard-to-find a particular piece is, you may be able to talk down the asking price. You can even sell some of your personal belongings to the pawnbroker to cover the difference.
While most pawnbrokers do their homework before making an offer on a piece of history, you should always stay on your toes. Be sure you know how to tell the difference between authentic memorabilia and replicas. Some reproductions may still hold some value, but they are worth much less than original pieces.
Before heading off to an auction to bid on expensive artwork, be sure to check out your neighborhood pawn shop first. Many art collectors have purchased authentic paintings for a steal. Most of these pieces came from wealthy owners who wanted to change their home collection or needed the extra cash. While you won’t find the Mona Lisa, you may find a rare Picasso or happy Bob Ross painting that needs a new home.
Once again, you need to know what to look for before purchasing art. Is the signature original to the artist? Is the medium authentic? While most pawn dealers aren’t art specialists, some will have an expert evaluate a piece before buying it. The best pawn buys will come with certificates of authenticity or other documents to prove the painting is the real deal.
Do you remember the rise of Beatlemania in the 1960s? Even if you weren’t alive during this time, you’ve probably heard of the band. Today, first edition records by The Beatles are worth a pretty penny, and many fans search high and low to find them. Of course, other bands and musicians are just as valuable too. If you want to expand your home music collection, a pawn shop may be the best place to start.
Most pawn shops have a music section—no matter if it’s big or small. Not only will you find records, but you may even be able to get your hands on popular CDs, cassettes, or 8-tracks. Before you buy, inspect the condition of the item. Avoid buying scratched or warped records. The packaging should also be free of flaws. If you don’t find what you want, be sure to check back. After all, you never know when someone may decide to pawn their entire record collection for a few bucks.
Power Tools Galore
Got a DIY project in the works? You may find yourself needing a new jigsaw or an electric sander to get the job done. Unfortunately, many of these tools come with a steep price tag. Before you pay full-price at the hardware store for something you may only use once, consider stopping by a pawn shop. It may surprise you to see all the power tools you can buy for cheap. There’s a reason these stores have earned the nickname “The Used Depot.”
The majority of pawned tools are practically brand new—the previous owners probably used them a handful of times. You can find top-of-the-line power tools for less than half the retail price. Best of all, after you complete your DIY project, you can even sell the tools back to the pawnbroker! Why would anyone want to pay full price for power tools again?
What Does Your Pawn Shop Sell?
Not every pawn shop is the same, but the most successful ones know how to meet the demands of their customers. Take a look at your current inventory. Do you have enough merchandise to appeal to a wide range of shoppers? Are you always adding more items to the shelves? If you want your pawn shop to stand out of the crowd, you need to go above and beyond to make sure you have something for everyone who walks through the doors.
Pawn Shop Consulting Group wants to make your shop the most successful one in the neighborhood. With nearly 20 years in the pawn industry, our experts know what it takes to help your pawn shop grow and thrive. We can help with your daily operations, from upgrading technology to improving productivity. With our guidance, you’ll understand how to attract new sellers and buyers so your store remains at the top of the game. Connect with us online to start improving your local pawn shop inventory.