The shop at local pawn store can be a useful resource for anyone needing quick cash, whether you’re decluttering your home or in need of financial assistance. But you’ll need to know what items are in high demand in order to maximize your payout. Armed with this information, you can easily walk out of the pawnshop with a valuable asset in hand–or a wallet full of cash.

Pawnshops offer a variety of finance-related services, including fee-based check cashing, payday loans, car title and house-title loans, and gold buying and selling. Most pawnshops buy and sell used items, ranging from jewelry to electronics to musical instruments. But not all items bring the same amount of money–the condition and brand of an item will significantly impact resale value. In fact, some items, like guitars or exercise equipment, can command much higher prices than other common pawnshop commodities.

Local Pawn Shop Benefits: Convenience, Trust, and Community

When you’re ready to sell an item, the pawnbroker will inspect the piece and determine its resale value. This will usually include an inspection of the piece’s condition and a review of its market demand. Then, you’ll get an offer–either a loan with interest or a buyout price. The best way to determine which option is best for you is by researching the resale and retail values of similar items online or in a store. This step will help you avoid overpaying or running up unnecessary credit card debt. However, if you decide to take out a loan, keep in mind that pawnshops often charge interest rates up to 2-50% per month.