It is a sad but true fact of our economy that many people part with non-essential items to get the cash they need when times are tough. For some, this means selling or pawning things like DVDs or other electronics, while for others, it means parting with works of art or entire art collections. Due to recent challenging economic times, many have turned to pawning their high-end works of art, including sculptures, lithographs, and drawings instead of sending them through auction-houses or galleries time-consuming and expensive for sellers.
Pawning works of art was mutually beneficial because collectors could quickly get the cash they needed, and pawn shops were able to expand their business into works of art. As a result, many pawnbrokers are now experienced art buyers and sellers. Some even now specialize in artwork. At Central Mega Pawn, we continue to receive beautiful works of art, including sculptures and drawings, thereby making collecting and enjoying art accessible to more people.
Thankfully, things are looking a little brighter financially. However, there are still plenty of collectible, investment-grade works of art to be found on the shelves of many pawnshops nationwide. At Central Mega Pawn, we invite you to search for your next (or first) piece of art in our shop.
If you are new to pawning or are surprised to learn that your local pawn shop buys, sells, and pawns works of art, keep reading to find a handy guide on buying, selling, or pawning works of art.
Buying works of art at your local pawnshop
Buying artwork at your local pawn shop is a lot like buying anything else – when you see something you like, you make an offer, then you have a reasonable amount of time to return it if you are unhappy with your purchase. But, when it comes to art, there are a handful of additional considerations you should take to ensure you are happy with your new works of art, including:
- Know what you like – sometimes, a work of art speaks to you, and you feel like it belongs in your home. More often, however, it is a smart idea to figure out what kind of art you like. The best way to do that is to look at lots of art! Visit galleries, even virtually. Look up artists online and get a sense of what appeals to you. This will help you make wise decisions when it comes to buying and collecting art.
- Set a budget – art is lovely, but it is not a necessity. To avoid spending more than you are comfortable with, make a budget and stick to it for each piece that you buy. That said, sometimes, a splurge is worth it for the right piece. Just try to avoid buyer’s remorse when it comes to art.
- Carefully examine before you buy – this is one of the very many advantages to buying art from your local pawn shop. You are free to reasonably examine items before you purchase and to ask pertinent questions.
Selling works of art at your local pawnshop
If your goal is to get the most money for your works of art, be they sculptures, lithographs, drawings, or paintings, the right move for you is your local pawn shop. Selling your artwork to a pawn shop has many advantages over other methods of selling art, like auction houses, art galleries, or to private collectors. Here are just a few reasons why selling art at your local pawn shop is a good idea:
- Expedited processes – when you work with a pawn shop to sell your works of art, you avoid the time-consuming process of having it appraised by full-time art dealers, then waiting for an auction house or gallery to schedule a sale for you. At your local pawn shop, you get your offer and cash in a matter of minutes.
- Safety and convenience – most pawn shops, like Central Mega Pawn, take your safety and comfort seriously.
- Flexibility to negotiate – when you sell works of art to your local pawn shop, you are welcomed to negotiate whenever possible. All that requires you is to know the value of your artwork and have realistic expectations.
- Get more money for your artwork – selling your artwork through the traditional channels of auction houses or brokers can be expensive. You must pay fees at every step of the way, including a commission to the broker. When you sell your artwork to your local pawnshop, you avoid all those fees!
Keep in mind that your local pawnbroker may only be interested in one or a few pieces in your collection – this is because pawn shops must be discerning about every item they purchase or keep on their shelves. Demand may vary. You can always contact us to see if we would be interested in learning more or buying your art.
Pawning works of art at your local pawnshop
If you are not quite ready to part with your works of art but need a quick cash loan, a pawn shop is definitely the option for you. This is because pawn loans are collateral-based loans that do not affect your credit. When you use your artwork as collateral, you will get your items back once you repay your loan. In this way, your artwork can act as a proper investment.
Here are some general tips to help when you pawn your artwork, be it lithographs, sculptures, drawings, or any other form:
- Research the value of your artwork – you can look at recent sales of similar pieces or inquire on message boards.
- Have realistic expectations – pawn loans are generally around 40% – 50% of the appraised value.
- Bring your pawnbroker any certifications – any information you can provide about your work’s provenance or authenticity will get you a higher offer.
You never know what kind of art you will find at your local pawn shop. One thing is for sure, though – when you find that perfect piece of art, you should buy it, if possible. Fantastic artwork that speaks to you is rare, and if Central Mega Pawn happens to be your local pawn shop, our great prices and reputation for outstanding customer service mean that items do not last long on our shelves. The next time you want to buy, sell, or pawn works of art, contact Central Mega Pawn – you will quickly learn why we are fast becoming the Inland Empire’s #1 resource for all your artwork needs!