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A Look at Some Popular Pawn Shop Items

When you are planning a trip to the pawn shop in NYC, it is a great idea to do your research and determine what types of items your pawnbroker may be looking for. While pawn shops still specialize in gold buying and other luxury items, you may be surprised at some of the other items that can get you cash in your hand when you visit the pawn shop. Read on for an overview of some of the most popular pawn shop items.

Gold

Pawn shops have historically specialized in the buying and selling of gold and other jewelry items. Today’s pawn shops are no different, and gold is as popular as ever with pawnbrokers. Gold has maintained its popularity due to its stable value and high desirability. If you are looking for fast cash, you may want to think about bringing your gold jewelry to the pawn shop.

Electronics

Electronics have become more and more popular at pawn shops over the years. Certain items, such as flat screen TVs, are extremely desirable items for pawn brokers. If you have a television or computer that is no longer used, you can get cash for this electronic item with a quick trip to the pawn shop.

Power Tools

Power tools are another type of item that is incredibly popular at the pawn shop. Tools, such as power drills, compressors, and saws are all eligible for trade in with your local pawn broker. Many of these tools are sold by contractors, making them a high-quality investment for the home workshop.

At Gem Pawnbrokers, we are thrilled to be a leading pawn shop in NYC. When you are in need of fast cash, be sure to bring in your items for assessment by our skilled and experienced pawnbrokers. To hear more about the quality pawning services that we provide to our satisfied customers throughout NYC, be sure to give us a call at (718) 596-5626.

Cleaning Your Gold Jewelry

If you love your gold jewelry, you probably wear it often enough that it appears grimy and has lost its shine. Luckily, you don’t need to spend a lot of money on a special jewelry cleaner to make your gold gleam again. You can use everyday household items to effectively clean your gold, making it look new again.

Watch this helpful video, which takes you through the cleaning process step by step. If you’re looking for huge discounts on fine watches and jewelry, visit GEM Pawnbrokers in NYC. GEM Pawnbrokers also offers jewelry cleaning and repair at over 20 pawnshop locations in NYC, including Brooklyn, Queens, Long Island and the Bronx. Call us today at (718) 619-4830.

Understanding the Basics of Pawn Shops

If you need a cash loan fast for an unexpected expense and you don’t have the time or the credit score to get a bank loan, you may turn to a pawnshop to sell your watch, jewelry or electronics. Pawnshops allow you to use your valuables as collateral for small loans. They also sell new and used merchandise to the community at bargain prices. If you’re thinking of turning to a pawn shop for a loan or to buy or sell items, take the time to understand the basics of how they operate.

Pawnshop Loans

A pawnshop loan can be an easy way to get the cash you need, and you’ll find that the service is the most helpful to you when you understand how a pawnshop loan works. When you bring your item into the shop, a pawnbroker will informally appraise the item’s value. The pawnshop then loans you money based on the value of your item, using your item as collateral. If you pay back your loan, plus any interest that may be owed, on time (usually within 30 days), you will receive your item back from the pawnshop. If you do not pay your loan back on time or in full, the pawnshop will keep the item.

State Regulation

Pawnshops require special licenses to operate, and they must follow their state’s own strict operation laws. They also cooperate with the police to ensure that no items they receive have been reported as stolen by their original owners.

Interest and Fees

The maximum interest rate that a pawnshop can charge will vary state by state. Pawnshops can also charge other fees related to appraising and storing your item. They may also charge a fee for insurance. Your state has a maximum monthly cap for these additional charges.

If you need a small loan and you’re looking for cash for gold in NYC, visit GEM Pawnbrokers. GEM Pawnbrokers has more than 20 locations in the NYC area, and buys diamonds and gold for top dollar. Call us today at (718) 619-4830.

Should You Sell Your Power Tools?

If you have old or new power tools that you don’t use anymore, you can turn them into a cash loan, or just cash, in minutes at a pawnshop. A pawnbroker can give you an instant appraisal of your power tools, letting you know right away how much he can offer you in cash or loan.

Using a pawnshop is much more convenient than posting an ad online or having a garage sale, as you won’t have to waste hours of your time bargaining with people over your prices. A pawnbroker will simply offer you the best price for your tools, and hand you the money right away.

Stop by GEM Pawnbrokers in NYC to talk to one of our friendly and professional pawnbrokers about selling your power tools. GEM Pawnbrokers has more than 20 locations throughout NYC, including Brooklyn, Queens, Long Island and the Bronx. Call us at (718) 619-4830.

Spotlight On Women in the Pawn Shop Industry

Women can often be marginalized in certain industries, and you may not picture a woman when you think of pawnbrokers. The truth is, there are many women working as pawnbrokers or in other areas of the pawnshop industry, and their number has grown over the last ten years.

History of Women in the Pawn Shop Industry

The first instances of pawnshops as we know them today were recorded in the 19 th century. Working class people, particularly women, frequented them. However, woman didn’t often work as pawnbrokers. Since that time, the number of women in the industry has increased, with women now making up over 10% of the members of the National Pawnbrokers Association.

Roles of Women in the Industry

Women now work throughout the industry as pawnshop owners, managers, pawnbrokers, and advocates for the pawnshop industry. There are women serving on the National Pawnbrokers Association’s Board of Directors, and as members of the NPA. According to the NPA, “women of the pawn industry are working hard everyday to build their businesses and their industry, to change the way pawnbrokers are perceived as a whole… and it is women who have been behind many major breakthroughs, and are a driving force in affecting real change.”

Permanent and Positive Affect on the Industry

Many women come into the industry from management backgrounds, particularly retail and finance management, and are able to evaluate the business with a discerning eye. Their experience managing businesses gives them an advantage in predicting trends in supply and demand. The Learning Channel has a successful reality show called “Pawn Queens,” profiling two women pawnbrokers. In Florida, there is a pawnshop owned and managed by a woman who opened it specifically to cater to women’s financial needs, specifically single women raising families.

If you’re looking for a reputable pawnshop in NYC, visit GEM Pawnbrokers. We have been open for over 60 years, and have more than 20 convenient locations throughout NYC, including Queens, Long Island, the Bronx, and Brooklyn. Call us today at (718) 619-4830.

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