Thanks to great shows on cable TV such as Storage Wars and Pawn Stars, the humble pawn shop has lost its stigma and rapidly grown in popularity. More and more people are looking for a ‘find’ in a storage unit or a market and also looking to sell or pawn items they have had lying around to pawnbrokers for instant cash or for a short term loan. But how does pawning something work?
If you are ‘pawning’ an item, you are using it as collateral for a short-term loan, usually for a small amount of money. The pawnshop will agree on a price and a term of the loan for you. If you do not repay the money by the due date, the pawnshop will keep the item and resell it to recoup their loss.
You can buy or sell gold jewellery through licensed pawnbrokers that are well-run, honest and clean businesses, which buys and sells used and new goods. It’s somewhat like a garage sale, but it is carried out in a shop! Surely, they have lost their historical ‘dark or shady’ past and most of the new pawnshops are well-run businesses and franchises, many of them located in Sydney as well as in busy towns such as Doonside and Mount Druitt.
They are the perfect place where you can sell your broken gold jewellery or scrap gold. The good thing about these places is that they buy gold based on the carat and weight of the gold, so it doesn’t matter if a clasp is broken or a ring is bent out of shape. This is indeed a perfect way to grab some quick cash for jewellery, which may be lurking in drawers and jewellery boxes unworn and unused and can become a lifesaver if you need to pay your utility bills or medical expenses.
Some Sydney pawnshops are even looking to buy and sell gold, platinum and other valuable items and jewellery for regular cash. Seeking out garage sales and house clearances can be a great way to pick up a bargain and resell for a small profit. Licensed pawnbrokers are also a treasure trove of unique jewellery items for sale if you are looking for a one-off or unusual gift or a treat for yourself.
So, check out your local pawn shop in Sydney where you can get a fast cash loan, sell some unwanted jewellery or even pick up something unique for yourself. Talk to your local pawnbroker to find out what the prices are for gold and what items are popular for both buying and selling. You will soon be making regular trips to your local pawnbroker to see what’s new in the window!