Negotiating is to be expected at any Westminster pawn shop. But even if you’re not shy to ask for the best deal, how exactly do you go about haggling? If you know nothing of the tricks or the basics of the process, you may be tempted to just take any price that’s thrown your way for fear of admitting that you don’t know what you’re doing. Before you walk into your next pawn shop, educate yourself on the best negotiating tactics for a fatter wallet.
Preparing the Item In Question
Knowing what you have and making sure it’s in good condition is the first step in getting the best price. It’s difficult for pawnbrokers to argue when you show any signs of having general knowledge of what you’re doing. After all, you can’t dispute facts. So while you still have the time, do everything you can during this very important stage of the process or you may regret it later when you can’t justify the price that you desire.
Research Is Everything
No matter whether you’re buying or selling an item, it pays to know how much that item is worth. This can be done by looking at similar items online, like visiting a pawn shop’s available inventory through their website. If you have a unique piece of jewelry, you can look up the market prices for precious metals and gemstones to get a rough idea. Whatever number you come up with will be your point of reference when visiting your local Westminster pawn shop in person.
Make It “Like New”
Dirty goods don’t sell, and the pawnbroker will factor that in if you don’t clean up your item before bringing it in. Some shops will outright refuse to take anything that’s deemed too filthy. By exhibiting a bit of extra care in making your item appear as brand new as possible, you’ll make it much more appealing to anyone interested in buying. Even doing so much as gathering all of the original packaging can make it seem “like new”, which means getting a “like new” price.
Double-Check Your Work
There could be some vital information that you may have missed during your initial research, or there could be a spot in your home where you forgot to check for any missing parts or packaging. This is your last chance to make sure you have everything correct and good to go, so don’t rush!
Facing the Pawnbroker
After doing everything that you can at home, it’s finally time to take your newfound knowledge to a Westminster pawn shop. Showing an impressive display of behavioral and social discipline actually plays a huge part in your final price, such as:
- Managing your expectations. It’s good to go into the transaction with a confident attitude, but you should also know when too much is too much. Unrealistic prices are less likely to come to fruition, but you can still see a substantial profit by staying reasonable.
- Only disclosing what is asked of you. Pawnbrokers have a soft spot for things of sentimental value, so saying that you grabbed something at a thrift store to flip at a pawn shop won’t help your case. To avoid slips up of bad information, only state what is asked of you.
- Letting the pawnbroker go first. In a Cornell study on the popular show Pawn Stars, it’s been proven that sellers who name their price first are at a clear disadvantage. The buyer could have offered a much higher price if the seller didn’t accidentally lowball themselves from the get-go. Let the pawnbroker state their price first and take it from there.
- Refraining from haggling aggressively. If you’re low on patience, it can be frustrating to inch closer and closer to your final goal when you could just ask for what you want from the beginning. Negotiating is a process, and you’ll be rewarded for the wait. Otherwise, you risk scaring off your buyer.
Mastering the art of negotiating may take you a few tries, but the biggest takeaway here is to keep your cool and respond to the cues like an extravagant dance. Once you get the hang of it, you’ll find yourself coming back for more just for the thrill of it!
Staying In Control
Believe it or not, keeping a friendly demeanor can help you stay in control of the situation. This is because having a good attitude exudes a great level of confidence and it puts the other party at ease. Simply being friendly is considered a good business practice that consistently creates and maintains healthy partnerships and business relations. Who knows? You may be visiting this pawn shop more often than you think. In that case, it pays to be friends with the people who run the place.
When it comes down to it, patience is key. Sometimes, that means knowing when to walk away even after spending a good few minutes going back and forth with the pawnbroker. Leaving and coming back another day could get you a better price than the last time you came, and then you’ll see your hard work quite literally paying off. This is perhaps the ultimate form of control in any given situation.
The Best Pawn Shop In Westminster
Live in the Westminster area? Visiting a pawn shop with an outstanding reputation such as Westminster Mega Pawn can also help with getting you the best deal in buying or selling goods. Westminster Mega Pawn is a general pawn shop that handles anything of value whether it be jewelry, collectibles, tools, or electronics…the list keeps going! And with a great number of 5-star reviews online, you know that the service is good enough for people to take the time to rave about it. The shop is open Monday through Saturday so you can stop by anytime at your own convenience. Call ahead at 714-893-0555 for any questions you might have.