Emergencies happen and unexpected expenses are a part of life. The option to sell or pawn your valuables at a pawn shop can provide a quick solution. But what exactly can you loan against at a pawn shop, and how is the value of your items determined?
Let’s have a look at the range of items you can loan against when you choose pawnbroking, including those that Cash Converters generally accepts. From electronics to jewellery, we’ll explore the potential value of these various items, helping you unlock cash wherever possible.
Pawn shops tend to see many items come through their doors, but some of the most commonly pawned items include jewellery, electronics, and power tools.
Jewellery, especially gold and diamonds, is a popular choice because of its value and ease of storage. Electronics like smartphones, laptops, and gaming consoles are also popular because of their constant demand and resale value.
Power tools are pawned by both everyday individuals and tradies who need quick cash but know they can reclaim their equipment. These items are usually pawned because they’re valuable, easy to transport, and people always need them, making them ideal for securing short-term loans.
Electronic gadgets are among the most commonly accepted items at pawn shops. From smartphones, tablets, laptops, and gaming consoles, pawnbrokers are always willing to purchase or pawn a selection of electronic devices in good working condition.
The value of your electronics depends on things like brand, model, age, and overall condition. Top brands and newer models typically go for higher prices, while older or outdated devices may fetch lower offers. Pawnbrokers may also consider accessories such as chargers and cases when assessing the value of electronic items.
Quality jewellery holds enduring value and will always be a sought-after item at pawn shops. From gold and silver to diamonds and gemstones, pawnbrokers accept many types of pieces, including rings, necklaces, bracelets, and earrings.
The value of the jewellery is assessed through factors such as the metal content, stone quality, craftsmanship, and market demand. Jewellery is also assessed on karat purity for gold and silver content, as well as the cut, clarity, colour, and carat weight for gemstones. Vintage or designer pieces might be even more valuable because of their rarity or collectability.
The value of jewellery is not fixed and depends on various factors. Cash Converters has nationwide guidelines for pricing jewellery. Deciding the final price is dependent on the supply, demand, condition, saleability, stock, and customer history.
Through internal store knowledge and different testing equipment, all jewellery that gets sold in-store is sent off to a jeweller for cleaning and polishing. Valuing is also included for pieces that Cash Converters thinks are higher value.
Vintage or limited-edition timepieces in good condition tend to fetch higher prices, whereas newer or less sought-after models may be a lower price.
The team at Cash Converters can also request documentation, such as original receipts or certificates, to verify the authenticity of the piece.
Musical instruments are another category of items accepted at pawn shops. Guitars, keyboards, drums, and amplifiers are among the most commonly pawned musical instruments.
Pawnbrokers will evaluate musical instruments based on their brand, model, condition, and age, with high-quality instruments from big brands like Gibson, Fender and Yamaha generally attracting a higher valuation. Additional accessories such as cases, straps, and pedals may also be considered during the assessment.
Tools and equipment are practical items with resale value at pawn shops. Power tools, hand tools, gardening equipment, and construction materials are commonly accepted items.
Similar to their counterparts above, unpowered tools are also assessed using things like functionality, condition, and brand, with additional factors such as accessories, warranties, and maintenance records that will ultimately assist Cash Converters to determine a value.
At Cash Converters, we’re open to taking in a variety of quality items for sale or to pawn, including but not limited to electronics, jewellery/fashion accessories, musical instruments, tools, antiques, and collectibles. Our experienced pawnbrokers assess each item individually to offer competitive prices to customers.
There is no minimum amount for the items you may want to pawn, with average loan amounts across the country just over $200. This allows everyone the flexibility to walk out of our stores with a cash loan they’re happy with.
We prioritise transparency in all our transactions, ensuring a fair and trustworthy experience for sellers and borrowers alike. This is why, although we accept most items, there are few items that we either choose to refuse or which are strictly prohibit from pawning.
Please see our friendly team for a full list of prohibited items.
The professional team at Cash Converters is well-versed in determining ownership to ensure that the item being sold or pawned belongs to the customer.
The process of determining ownership will be a lot smoother if you come prepared with 100 points of ID. This can range from a driver's license to a passport; however, you can make up the 100 points through various forms of ID including a birth certificate, Medicare card, bank card, pension card, electricity bill, or rent receipt.
As well as going through the checks mentioned above, the professional team at Cash Converters also uses technology to authenticate high-end goods.
Entrupy is used in many of our stores as an authenticator of luxury items and sneakers with a 99.1 per cent success rate. It uses a combination of artificial intelligence and microscopy to determine whether something is authentic.
When the item is scanned using Entrupy, a set of microscopic images are collected. Machine learning then compares these images against a database containing millions of records from known authentic and known counterfeit products.
Pawn shops offer a convenient avenue for anyone looking to unlock some cash by selling or pawning their valuable items.
From electronics and jewellery to musical instruments and tools, you won’t be at a loss for what you can possibly pawn. By following our guide on what’s generally accepted and what’s prohibited, you’ll have an easier time deciding what to bring for your next cash loan. Understanding the potential value of items and the process of pawning can help you make informed decisions and address your financial needs.
Cash Converters is committed to providing a fair and honest experience for all our customers. Pawn with confidence today and get your item valued at one of your local stores. If you choose to get a pawn loan, manage it with the My Loans app for extra convenience.
The information contained in this blog is general advice only and does not take your specific circumstance into consideration. You should assess your own financial position, objectives, and requirements before making any financial decisions. Australian Credit Licence 391436. Subject to lending criteria being assessed. Check our TMD.
