Haggling at a Pawn Shop

Buying, selling or pawning an item all have 1 thing in common: everything is negotiable. Haggling seems to be a lost art these days, but we would be doing you a disservice if we didn’t encourage you to get the best possible deal at your local pawn shop. Negotiating may make some folks uncomfortable, but with these easy guidelines we are certain that anyone can successful.

Haggling at a Pawn Shop

5 Steps for Haggling at a Pawn Shop

Be informed

Don’t walk into a pawn shop before you have researched every possible detail of the item you are ready to negotiate on. Know all the necessary product specs, and most importantly, know the value. If it is a piece of art or fine jewelry, you may want to have it appraised by a 3rd party. If it’s a tool or electronics item, check sources like eBay to find out the item’s online value.

Be friendly

You kill more flies with honey. That saying is true even in pawn shops. Make small talk with the shop representative and be polite. They will be much more willing to work with you than if you are rude or discourteous. Being impolite or aggressive will get you nowhere other than out the door.

Be reasonable

Pawn stores are still businesses and need to make a profit, so it’s important to be reasonable with your offers. Especially if you are new to haggling and a little uncomfortable. Asking for a 20% discount when buying or 20% increase when selling is a great starting point. Don’t offer $300 for an item that’s marked for sale at $1200. Annoying the sales rep is not a good strategy.

Be patient

Wait for the representative to make the first offer. If they want your item badly enough or want to move the item off the shelf, they will make an offer. Let them show you their cards first; this is especially important for first-time hagglers.

Be ready to walk

If you’ve done your research (and we trust you have) and the shop is not offering you a reasonable deal, remember that you can walk. It might not be the day for you to buy, sell or pawn your item. Don’t short-sell your item for less than it’s worth.

The best piece of advice we can give you when haggling at a pawn shop is do not be uncomfortable. The owner and representatives of the store expect some negotiation on every deal they make. You are not being rude, offensive or pushy when trying to haggle. Advocate for yourself and you will come out with a better deal.