What your local pawn shop can do for you
Pawn shops are an important component of the financial services industry that people tend to oversee when considering borrowing cash or selling valuable items for cash. Pawn shops are often a reliable, quick and simple alternative to other financial institutions that that loan money. Pawn shops may have had an undeserved negative image in the past, but lately a number of high end pawn shops have sought to change that image and reputation through an overhaul of the way they do business, the expertise associated with their business and the approach they have taken to their retail outlets. What has emerged from the efforts of these high end pawn shops, is a very professional, customer-centric, pleasant experience for selling your valuable items or obtaining pawn loans through the collateral of your valuable items.
If you have not considered using the services of a pawn shop, then now might just be the time. Even with economic recovery happening across the country and more people feeling financially stable compared with a few years ago, extra cash is always welcome and can be put to very important, very useful uses. There are a number of reasons for considering a pawn shop to sell some of your valuable items or to obtain a pawn loan. In the majority of cases the process is very quick and you can be walking out of the pawn shop with a check in your hand on your first visit. The second reason is that you are protected by law. Again, the negative reputation of pawn shops is out of date and most states have stringent laws by which pawn shops have to operate, buy and loan. This means that you will get a fair valuation for valuable items whether you choose to sell them or to use them as collateral for a loan. Most pawn shops will employ high experienced appraisers who have widespread knowledge of the market rates for many many products. Lastly, high end pawn shops cater for the more discerning customers meaning that highly valuable items that you may own, from fine art through to rare watches are now accepted and valued accordingly.
If you are a Scottsdale, Arizona resident or live within easy reach of Scottsdale, then you have access to a select few high end pawns shops. The Scottsdale pawn shop selection is targeted at higher end items and typically offer customers a comfortable, bright and friendly service in line with the newly emerged image change pawns shops have undergone. A visit to a good Scottsdale pawn shop will reveal the high end items they deal in. This can be anything from a vintage designer watch to rare French jewelry. And of course other items that have retained or grown in value yet retain high end branding or high quality metals and gemstones.
As a Scottsdale or nearby resident looking for value for money access to cash, then it is recommended that you consider the services offered by a Scottsdale pawn shop. The first step you need to take is to assess your saleable assets. Look predominantly at your movable assets that would attract a high market value. Items to consider here include watches, jewelry, art pieces, hand guns and other small but high items that would readily attract a buyer. Brands play an important role in value determination so if you have watches manufactured by Rolex, Breitling, Mont Blanc, Hamilton and other designer brands or jewelry designed and manufactured by Cartier, Bulgari, Tiffany & Co and others, then you most certainly have an item or items that are in demand and will attract a Scottsdale pawn shop owner or mangers attention. Other items that attract discerning buyer’s attention include art and fine art by well-known artists, both historical and current. Guns are another attractive option for pawn shop owners and managers as are bigger items such as classic or collector attractive motorbikes.
Not all items will be of interest to pawn shop owners and managers. They do not want to give off the image of a garage sale or second hand store and will very unlikely accept items such as second hand electronics or power tools. A Scottsdale pawn shop is not the place to try and sell your cell phone or your well used lawnmower. Remember that high end pawn shops looking to maximize their returns so that this benefit can be passed on to customers looking a similar return.
Once you have assessed your assets and decided what you can part with and what you would ideally like to hold on to, then it is time to make your way to a selection of the Scottsdale pawn shops. You want to ensure that the value associated with your item or items is accurately and fairly valued and, like any good businessman, you are going to shop around for quotes. This step can be shortened dramatically if you have recommendations for a specific Scottsdale pawn shop from trusted friends, family or colleagues. The valuation process and legal obligations of pawn shops is regulated and you are thus in safe hands for a fair and honest appraisal. Of course there is always different interpretations of value by different appraisers and hence the need to shop around, just as you would if you were trying to sell your car to a second hand car dealer. These different values provided by pawn shop appraisers will fall within legal limits but even within these limits, you want to obtain maximum value for your Mont Blanc watch or your high carat and clarity diamond necklace.
Again, rest assured that the valuation of your items will be done by qualified and experienced appraisers. A good, high end Scottsdale pawn shop will have appraisers with extensive experience in assessing the quality of gold, diamonds and other precious metals and will understand the market demands and dynamics that determine the value of designer watches and jewelry.
Once you have identified the pawn shop that will provide you with the best value, then the rest of the process is simple and efficient. You will have two options for your high value item or items. The first option is to sell the item to the Scottsdale pawn shop. You will walk out with a check which you can then deposit or cash. The transaction is complete and you no longer own the watch, jewelry piece or art work. If the item has sentimental value or is considered a family heirloom that you feel you should own some rights to, then second option available to you is a pawn loan. In this case you will essentially sign over ownership rights to the pawn shop who will then provide you with a check matching the assessed value of your item or items. Before handing over the check though, the pawn shop will require you to sign an agreement that specifies the capital amount and interest rate payments you will have to make on a regular basis over a specified time period. The agreement will also include the pawn shops responsibilities for holding your items as collateral against the loan, in particular the measures they take to safely hold and store your item or items. This will most likely include obligations such as secure storage and insurance against loss and theft. Once all paperwork has been signed and countersigned, you hand over your items and then walk out with the check matching the value of your assets.
Pawn loans are a very useful mechanism for obtaining cash that will not affect your credit ratings, offer a simpler and more efficient loan process than banks and avoid the exorbitant costs associated with the use of microfinance institutions. The transaction has tangible collateral associated with it meaning that responsibilities lie with both parties and thus avoiding the inevitable stress of unsecured loans from banks.
If you have never considered using pawn shops and their two predominant service offerings then you have been missing out on a very important and useful financial tool. If you thought that pawn shops are the stuffy, back alley type of shops that the stereotype once defined, then you are now in for a surprise. Pawn shops, including those found in Scottsdale are now part of the mainstream financial industry and the experience is now pleasant and you will be able to grab a good cappuccino or shop in a department next door across the street from the prime positioned pawn shop. You are also protected by state laws in the same way that you are when shopping and are concerned by defective products or the need to possibly return items. Scottsdale pawn shops are part of the main street or mall experiences that we take for granted every day. Given the benefits of using a pawn shop, it is highly recommended to those people needing money for additional investments, the down payment on a house, the purchase of a car or for whatever reason you have and would historically take out a bank loan, dig deep into your credit card limits or privately sell some of your assets.
Pawning in Scottsdale
A number of people in Scottsdale use and capitalize on the presence of pawn shops in Scottsdale to buy, sell or take out pawn loans using their movable assets or to buy items that they believe or a useful investment and will mature in value over the next few years. However some Scottsdale residents remain skeptical about using pawn shops most often because they don’t understand the benefits of pawn shops and how they provide alternatives to financial institution loans and buying or selling items privately. Some Scottsdale residents may even still believe that pawns shops are for the criminally minded and dangerous stores as inaccurately portrayed by the entertainment industry. Scottsdale has a number of excellent pawn shops and if you remain skeptical about pawn shops, then this article will outline why that feeling is no longer valid and how you can benefit from using the services of a good Scottsdale pawn shop.
Pawn shops have been a part of trade for many centuries with pawn shops having been a part of Chinese and then Roman trade over three thousand years ago. Pawn shops have allowed for the quick and easy selling and buying of second hand goods since they began operating allowing customers to trade in goods that they no longer used or to buy goods at cost effective prices rather than having to pay full prices for newly made items. Throughout the history of pawn shops, the shops have always offered a unique loan system whereby customers are able to obtain a financial loan by handing over an asset of theirs temporarily and using that item as collateral against the loan. The business model for pawn shops, including your local Scottsdale pawn shop, has remained constant for these thousands of years and the system you currently find in your local Scottsdale pawn shop is the same system as was used in Rome, Athens and China those many years ago.
Unfortunately, part of the history of pawn shops, has been the image of them being used by criminals to pawn stolen goods. As a result pawn shops have the reputation of being dangerous places, found down the back alleys of large cities and operated and managed by unpleasant characters. This image and reputation of pawn shops has always been largely inaccurate and stems more from the imagination of the entertainment industry who saw pawn shops as part of a convenient plot for criminal characters to gather and peddle their stolen goods. The image that some people, who have rarely or never been into a pawn shop, is as a result of this imaginative portrayal of pawn shops in movies and TV series and is most often not a reflection of the reality of how pawn shops operate and look.
Pawn shops have had to fight this stereotype and have recently been updating and revising their look and feel of their physical stores in order to assure the public of their legitimacy and reputation. Many potential customers don’t understand the extensive federal and state laws that govern the operations of pawn shops which ensure that a pawn shop isn’t able to deal in stolen goods. Many potential customers also don’t realize that a vast majority of pawn shops only buy and sell rare and valuable items meaning that a pawn shop is much more of a designer jewelry or watch trader than a second hand television or hifi system seller.
If are hesitant about using the services of a Scottsdale pawn shop, then it is highly recommended that you visit one first and you are very likely to experience a reversal in your perceptions. You should of course have reason to visit a pawn shop as well. The reasons are simple enough and are applicable to many people. If you have a movable item of value that you want to sell, then a Scottsdale pawn shop is the easiest and quickest way to do this. You may be considering an online second handing item selling service, but bear in mind that this takes time and there is frequently a selling cost involved. A local pawn shop is a simpler, faster alternative and you will have a check in your hand far quicker than any successful sale using an online service. Selling an item of yours to a Scottsdale pawn shop is easy. The pawn shop is always looking for valuable jewelry, watches, art and many other rare, collectible and valuable items. If you have a piece of jewelry, a necklace or a ring, that has precious metal content and perhaps stones such as diamonds, and you no longer wear this piece of jewelry then you can sell it to a pawn shop in a matter of minutes and have additional cash available to you immediately. You may be concerned at the value that you will obtain for your jewelry, however reputable pawn shops place great importance in their assessment and valuation skills and use internationally accepted techniques to value precious metals and stones. They have a deep understanding of the demands for gold, platinum, diamonds and other jewelry contents and will provide you with a buying value for your jewelry. The same goes for other items such as watches which are increasingly becoming investment items driven by their rarity and collectability. Your local Scottsdale pawn shop is now a discerning trader of valuable items now has more of the look and feel of a high-end jewelry or watch store than an untidy second hand store. It is important to remember that businesses thrive on happy customers and most of their business is driven by repeat customers, so your Scottsdale pawn shop is going to have your best interests in mind when buying items from you.
You can of course also buy goods from a pawn shop. If you are looking for second hand items, as described above, then a pawn shop is the ideal place to purchase valuable jewelry, watches even art and guns. Items purchased from a Scottsdale pawn shop will often have investment value and can thus be put away for a few years and then sold on as the items have matured in value. A reputable pawn shop will have valued the item you wish to buy and a good Scottsdale pawn shop will give you the reasons for the valuation, such as gold content and diamond weight and clarity, and will be selling you the item at a seller’s market value. Items purchased from a pawn shop are thus bought at market value and, given the portfolio of products that a good pawn shop deals in, the item or items you buy will have investment value.
Pawn shops also offer another service which is particularly appealing to customers who do not want to part with valuable items permanently. Perhaps the item has sentimental value or they believe the item will continue to mature in value and would rather receive a greater return at a later date. A pawn loan is an option in these cases. A pawn loan is simply a mechanism whereby you hand over an item of value to the Scottsdale pawn shop and receive a loan amount immediately. The item is kept safely by the pawn shop, most often in a secure safe, until you have paid off the loan amount. There is of course an interest amount paid on the loan, but because the loan is for a shorter period than typical bank loans and because the loan is secured through the item you have handed over to the pawn shop, the interest payment is often lower than what you would have to pay a commercial bank or other financial institution. Again, rest assured that pawn loans are heavily regulated by federal and state laws and your rights and ownership of the item are always secure once you have paid the loan and interest charged. Pawn loans are convenient in that they are short term loans of up to ninety days and taking out a loan will not effect and is not dependent on your credit scores from other loans and credit cards. The loan amount is determined by the value of your item that you use as collateral and you will receive your item back as soon as you have repaid the full loan amount.
Pawn shops are an important part of second hand trade and an important facet of the loan industry. Potential customers have nothing to fear and can, in fact benefit, substantially from pawn shop services. Your local Scottsdale pawn shop has gone out of its way to counter the stereotypical image that the media has painted for pawn shops and it is very likely to be a comfortable, professional environment in which to do business. It is also often a safer, quicker and simpler alternative to other mechanism of second hand trade and can also be a more convenient and cost effective way to take out a financial loan. Next time you have something to sell, wish to buy something of value or are in need of cash, consider the benefits of your local Scottsdale pawn shop.