Top 3 Reasons to Pawn and Sell Your Power Tools at Your Local Pawn Shop

Top 3 Reasons to Pawn and Sell Your Power Tools at Your Local Pawn Shop

There are many reasons people might want to sell or pawn their power tools at their local pawn shop. If you are thinking of selling some or all of your power tools, keep reading to find just three of the many great and numerous reasons why people would choose to pawn or sell their power tools to their local pawn shop.

First, let’s talk about the demand for power tools. When people think of pawn shops, they might think of them as places to find firearms, jewelry, or electronics; or, they might think they can mostly find local interest. For example, in farming communities, you can always find lots of farming and rodeo apparel.

While every pawn shop certainly has lots of the usual items and items that reflect the interests and occupations of its communities, a well-kept secret is that pawnshops are places where you can almost always find power tools.

What does this mean for you and all other people interested in selling or pawning your power tools? It means that there is always a high demand for what you have. Even better, it means that you can turn your unused or unwanted power tools into quick cash!

However, we know that when it comes to selling things like your power tools, you have many options, such as Craigslist, Facebook Marketplace, and person-to-person sales apps like LetGo, not to mention websites like eBay and eBid. If this sounds familiar, and you are trying to figure out if a pawn shop is the way to go, let’s talk about three of the top reasons people would choose to pawn or sell their power tools to their local pawn shop.

Tools can be recovered through pawning

Sometimes, people are not fully ready to part with their tools but need some quick cash. Or, there are slow periods during the year where the tools sit dormant, waiting for the change of season. Thankfully, when you pawn, you not only receive a safe, quick, short term loan, but you can get your tools back when you repay your loan within the repayment period. Most pawnshops have generous loan terms designed to make it possible for you to reclaim your items after. In this way, pawning your tools can be a way to get emergency cash over and over.

On the other hand, when you sell your tools through a website, app, or another person, your tools are gone forever. And not only are the tools entirely out of your hands but so is their value, which means that your tools got you some cash only one time, whereas a pawn shop can work with you to get some money from them repeatedly, as long as there is a demand for your tools.

Quick and easy cash

Selling through a website takes time. A seller must take and post accurate photos, write a description, decide on a price, and deal with buyers. If you are lucky, you’ll get a buyer who accepts your price. However, even then, you are responsible for shipping and handling, which can be expensive or even prohibitive in large or heavy tools. Most sellers encounter buyers who want to pay as little as possible and who haggle over every little cent. And even after you have gone through all that, you must wait for the payment to come through, then wait even longer to turn it into cash. When you sell in-person, you might still deal with annoying hagglers. You also risk your safety if you do not take extra precautions when meeting up to make the handoff.

However, when you sell to your local pawn shop, you remove all the headaches we have just described. Your pawnbroker will work with you to negotiate a deal that works for both sides, and that is based on the actual value of your tools, not just to pay the lowest amount possible. Additionally, once you have arrived at a fair price, you will get your cash in hand in minutes, not days or weeks. It will be cold hard cash in your pocket, not codes in your electronic account.

Pawn loans are one of the safest loans out there

Pawn loans are one of the safest and underrated sources of personal financing. This is because:

  • Pawnshops are part of your community – unlike big banks, pawnshops can be flexible with interest rates and loan terms. Pawnshops like Central Mega Pawn have your best interest in mind. It is our mission to go above and beyond every time.
  • No applications or credit checks – you will not have to fill out an application, then wait for approval while your bills continue to pile up. Nor will you have to submit to a credit check. With a pawn loan, you come into our shop in need and leave with cash in hand in minutes.
  • Pawn loans are safe – a pawn shop will not loan you more money than you can realistically expect to pay back. According to the National Pawnbrokers Association, a majority of people who take out a pawn loan repay them on time. This makes it more likely that you will repay your loan and regain possession of your item.
  • Pawn loans do not affect your credit – because your pawn loan is secured by the value of an item that you own, there is no need for it to affect your credit. This is significant because a low credit score can harm your chances of qualifying for fundamental things like housing and employment.

How a pawn loan works

1. You bring us your item plus your identification.

2. Our professionals evaluate the monetary value of your item and will offer a loan based on that value.

3. We carefully go over the loan terms with you.

4. Get your cash!

5. You repay your loan and reclaim your item! If you cannot repay, we simply keep your item and resell it, with no additional penalty to you.

If you live in or near Ontario, California, or in any of the cities that make up the Inland Empire, visit Central Mega Pawn to see how we can help you turn your power tools into quick cash.

How Much Will a Pawn Shop Pay for my Designer Watch?

How Much Will a Pawn Shop Pay for my Designer Watch?

If you are thinking about selling a designer watch that you currently own, you should carefully weigh every option. Your designer watch is valuable, and you deserve to get as much as possible for it. Chances are, you have already considered your many options on where to sell your designer watch, as well as how much you can expect to get for it at each place. However, if you have not already done so, you should seriously consider selling your designer watch at your local pawn shop.

Although how much a pawn shop will pay for a designer watch will vary on a handful of factors, which we will go into much further detail about below, every pawn shop is different. As a result, it is impossible to predict exact figures for how much a pawn shop will pay for a particular designer watch. Use these factors as a handy guide to learn how your local pawn shop will determine how much to offer for your designer watch.

Demand – Designer brands or styles that are classic or have recently come into fashion will get great offers. If your designer watch is not in high demand, your local pawnbroker may have a hard time reselling it. However, if your watch features things like diamonds, or other precious gems or metals, you can expect a high offer. You can determine how in demand your watch is by searching the brand online, as well as the make and model of your watch and seeing what people are saying about it.

Brand – Certain watch brands, like Rolex or Cartier, will always fetch a high price. This is because the brand name recognition alone provides value, and because they are known for their durability and long-lasting desirability. If you are selling a watch from any of these following brands, your local pawn shop will likely offer a high price:

  • Rolex
  • Cartier
  • Bulgari
  • Piaget
  • Patek Phillipe
  • Vacheron Constantin
  • TAG Heuer

If your watch brand is not on this list, do not despair. Other well-respected but not quite luxurious watches from designers like Fossil or Timex may still sell for a reasonable price.

Condition – Although broken or slightly imperfect designer watches will still have value, your watch’s condition is a huge factor in how much you can expect for it. The more attractive and well-maintained your watch is, the more you can expect. The easier you make it for your pawnbroker to resell your designer watch, the more interested they will be in it.

Completeness – Especially for extremely high-value watches, having the accompanying boxes, packaging, and paperwork to prove authenticity and provenance will help you get the best offer.

Precious metals and gemstones – If your watch features things like diamonds, emeralds, or other precious gems, or is made of verifiable precious metals like gold or silver, it will go for a good price.

Why sell to a pawn shop instead of other places?

Your designer watch can act as collateral for a short-term loan that you can use over and over. If you need some quick cash and aren’t one hundred percent ready to part with your designer watch just yet, you can use it to obtain a safe and confidential cash loan. When you pay back your loan, you will get your watch back, unlike other forms of selling that will force you to part with your watch forever.

Also, selling to jewelers, retail stores, or through person-to-person websites, apps and auction sites takes time and effort. Not to mention, you may run into potential buyers who pressure you to accept the lowest possible offer, or who request that you spend money to ship and insure the watch directly to them.

On the other end of the spectrum, selling your designer watch to your local pawn shop is quick and easy. No shipping, handling or insurance fees, and very little paperwork. All you need is your valid identification and your watch.

How to sell your designer watch at your local pawnshop

Although selling your designer watch to your local pawn shop is easy, we want you to get the best deal possible. Follow these guidelines to get the most attractive offer:

Do your homework – Look up recent sales of your watch to get an idea of its going rate. Determine an average price from that information, and figure on receiving about 60% or so of that price at the high end.

Gather up all the pieces – Think of your watch as the centerpiece of an ensemble. The paperwork and packaging that came with your watch will make it appealing to buyers of all kinds, from collectors to the casual fan. The more complete a package you can offer your local pawnbroker, the more they will be willing to offer.

Clean it up – You should try to make your watch look as clean as possible, especially if it’s been worn frequently. However, be warned: do not use solvents or any liquids or material that can damage the watch. You can achieve great results with a microfiber cloth and a small soft-bristled brush. The goal should be to make it look enticing when your pawnbroker puts it in their display case.

Prepare to negotiate – When you visit your local pawn shop to sell your designer watch, you should be prepared to negotiate. Any trustworthy and experienced pawnbroker will be happy to work with you to reach a price that both sides agree on. Also, if you cannot come to terms, you are always free to refuse the offer and to try elsewhere.

Thanks to our in-house jewelry expert’s services, one of only a handful of pawnshops in the country to do so, Central Mega Pawn is known throughout Southern California’s Inland Empire for offering the best prices on designer watches. Visit us today to see why we should be your number one choice when you are looking to sell your designer watch.