How Much Do Pawn Shops Pay?

What do Pawn Shops Pay?

When you need a little bit (or a lot) of cash quickly, you might consider selling a valuable or two to your local pawn shop. If you are considering pawning some of your valuable items, you might be wondering, “how much do pawn shops pay?” There are several factors that affect how much pawn shops will pay for various valuable items. In this article, we will tell you how much pawn shops like Chicago Super Pawn might pay you for certain items. Consider this your pawn shop price guide!

Price Based on Value

Pawn value

When you need quick cash, pawn shops are the answer. If you don’t know how pawn shops work, you might not know how much pawn shops pay. There is no set price for how much a pawn shop will pay for any particular item. The price a pawn shop will pay depends on what the item is, the item’s condition, how old the item is, and how much the pawn shop employee thinks they can sell the item for. Unlike a personal loan, pawning an item doesn’t hurt your credit score.

A pawnbroker bases how much they pay on the value of the item. For example, a pawn shop will pay you more for a diamond ring than it will for a DVD player. And no two diamond rings or DVD players will fetch the same price. The amount a pawn shop pays depends on the condition of the item and other factors.

While some pawn shops will tell you with an online calculator how much money you can expect to get for an item, we do not resort to this tactic. At Chicago Super Pawn, we are the local pawn shop that you can trust. We do not tell you how much you will get for an item until we get the chance to inspect it in person. That is why we do not give a quote for your item over the phone.  

What Affects How Much a Pawn Shop Will Pay For an Item?

We base pawn loan amounts based on what you bring in and the condition that the value is in. The condition of the item is always taken into account during the appraisal process for a pawn loan. If an item is damaged, we will not be able to pay you as much for it. 

Difference Between Pawning and Selling

Before you bring in an item, you might have questions about the differences between pawning and selling. When you sell your valuables, they are gone forever. Unlike selling, pawning is more similar to taking out a loan with a pawn shop. Your items serve as collateral for your loan.

While you might be able to get more money for an item by selling it, if you pawn it, you can get the money you need and still get to possibly keep your item. 

High-Demand Pawn Items 

If you are wondering what pawn shops will pay most for, these are a few of the best items that are most in-demand by pawn shops

Pawn Shop Price Guide

pawn shop prices

So, how much will a pawn shop pay you for your valuable items? While we can’t tell you exactly what any pawn shop will pay for your items, we can give you a basic idea. However, keep in mind that pawn shops also offer prices based on the condition, age, and value of the items you bring in.  

Jewelry 

Are you wondering how much your diamond is really worth? Jewelry is one of the most valuable items a pawn shop will pay you for. You can bring jewelry of all shapes and styles to a pawn shop, from rings to bracelets, necklaces and earrings, and even watches. Generally, a pawn shop will offer about 50% of jewelry’s resale value. 

For example, if a pawn shop estimates that it can resell a genuine diamond necklace for $500, you will walk out the door with a $250 cash loan. The value of jewelry can range from a few hundred to upwards of a few thousand dollars. When you bring in jewelry, we test the precious metals and diamonds to determine their worth. The diamond testing includes a visual inspection using a jeweler’s loupe, weighing the item, determining the carat weight of any stones, and noting the cut, clarity, and color of each. 

Electronics

Some electronics that might fetch a good price from a pawn shop include TVs, radios, video game consoles, computers, or cameras. If you have a vintage video game console you haven’t used in years, you might be able to make a quick buck! The price you are offered for your electronics varies widely depending on the item’s availability and its resale value. 

Apparel and Accessories

Do you have any designer bags sitting in the back of your closet gathering dust? Or what about those trendy Gucci loafers you bought last year that are already out of style? Bring in your designer purses, clothing, and accessories. Anything from high-end designer brands like Christain Dior, Louis Vuitton, and Yves Saint Laurent can fetch a good amount of cash. Designer purses can go for a lot of money in Chicago. Of course, the amount you receive will depend on how well the item has been cared for and its condition. 

Gold and Silver

Pawn shops will pay the most for rare precious metals, like gold and silver. That is because these are highly sought-after items that retain their value, even during a recession. In fact, the value of gold and silver can even increase during a recession. The price of gold is based on market values. The price of gold can also vary greatly. For example, a pawn shop will pay more for 24k gold than for 14k gold. 

We Pay Excellent Prices at Chicago Super Pawn

Now, you have all the information you need about how much pawn shops pay for various items. When you conduct business in Logan Square with Chicago Super Pawn, you can be sure you are getting a great deal. We are proud to offer the best prices. We offer immediate payments and collateral loans for items that are just sitting around your home, gathering dust. Bring your items to Chicago Super Pawn today! 

The Best Electronics to Pawn in 2022

Best Electronics to Pawn Today

Pawning items can be an excellent way to make cash quickly, even in 2022. Many people forget that pawn shops are still around and thriving, but they can help you when you’re in a bind and need money fast. 

When you think of pawning an item, you may think of jewelry first. But jewelry is certainly not the only thing you can give to pawn shops for money. In most cases, pawn shops will take quite a few items off your hands if they’re of the right quality. Pawn shops have been known to sell clothes, tools, sports equipment, collectibles, firearms, and so much more.

One of the things people generally don’t think about pawning – but that can be incredibly lucrative – are electronics. Pawn shops will often take many types of electronics, including gaming systems, televisions, computers, laptops, and accessories. This is one unique way to get cash that is being overlooked by a lot of the population. 

What is Pawning? 

If you’re new to pawning items, we’ll give you the lowdown on what it actually means to pawn something. This way, you can decide whether it’s something you would be interested in doing. The most essential thing to know about pawning items is that you can get more money if you know the right items to offer. 

Not everyone is familiar with pawning, so let’s break it down to its bare bones. When you give an item to a pawn shop, you’re giving them the item as collateral against a cash loan. If you pay back the loan, you get your item back. If you don’t pay the loan, the pawn shop is free to keep your item. 

This is why pawning is all about choosing the right items. It has to be something of value in order to be pawned. Electronics are inherently valuable, so they’re good for pawning. But if you own something that is newer, for example, the latest model of a Mac computer, you’ll get more money for it. 

Timing will vary from store to store, but you are usually allowed a few months to repay your loan before they sell your item. Chicago Super Pawn, in Logan Square, has always had the reputation of working with their clients to ensure the best customer experience.  When you are in a situation where you need cash now, pawning can come in handy

The Best Electronics to Pawn Now

electronics to pawn

In 2022, there are a plethora of gadgets out in the world. If you happen to own a couple of these gadgets, then you have some leverage with pawn shops. Essentially, the newer the product is the better, but you can still cash in on older, unused tech. 

Do you have any old cell phones lying around? Many people keep their past cell phones despite not having any use for them. Pawn shops can take them off your hands and give you a chunk of cash in exchange. 

You can also pawn things like tablets and laptops. The newer the technology is, the more money you’re likely to get from a pawn shop. Even some things that you wouldn’t normally consider such as electronic watches can get you a good amount of money. 

You also need to consider the state of the electronics that you’ll be offering the shop. If your old iPhone has a cracked screen or a defunct home button, it’s not likely that you’ll get much for it. The appearance and functionality of the gadget certainly matter to a pawn shop. After all, they are looking to potentially sell these objects in the future. 

We Buy Electronics at Super Pawn

At Super Pawn, we are willing to take your electronics and any other items that may be of any value for money. While the appraisal process requires research, we will always try to get you the best possible deal

We also take into account our own ability to eventually sell the item. This is why it’s important that you bring us your electronics that are in the best condition, so we can give you the best deal. 

In addition to electronics, we also take jewelry, shoes, collectibles, musical instruments, and so much more. If you live in the Chicagoland area and are looking for a place to pawn your valuables, we’re here to help. 

We are located right in Logan Square, so if you want more information about our practices, stop by and talk to some of our knowledgeable staff. Our policies on collateral are air-tight, meaning while your object is still in pawn, it belongs to you. We will always keep these items safe and in good condition while you work on repaying your loan. 

Cash For Electronics Near Me

cash for electronics

Before you begin the pawning process, you’ll want to do some research on how to go about it. Again, you can come in and talk to our staff, or you can give us a call. We’ll give you all the information you need to know about working with Chicago Super Pawn. 

You can also take a look at our website for any questions you might have regarding our process. Our FAQ and About sections are a good place to start. And, since you’re already reading one of our blog articles, take a look at other ones for more information about pawning in general. You’re liable to find some valuable information about what items pawn shops will take for more money. 

We want to give you the best deal in a scenario where you have to pawn your electronics or other valuables. If you do eventually want your items back, we will store and protect them while you repay your loan. Most people end up repaying the loan and taking the item home again. 

If you have any questions about Super Pawn or the practice of pawning items, please reach out to us. We’re here to help!

Chicago Designer Purses Cost

How Much Do Designer Purses Go For in Chicago?

How many gorgeous designer purses do you have sitting in their dust bags in the back of your closet that you rarely (or ever) pull out to wear? If the answer is more than one, you might be wondering, “how much do designer purses go for in Chicago?” Expensive bags can fetch a bit of cash from a reliable, trustworthy pawn shop. If you want the most money in exchange for your designer bags that you are ready to get rid of, come to Chicago Super Pawn. If you need some cash easily and quickly, one way to get it is by pawning or selling your designer purses. 

How Much Do Designer Purses Go For in Chicago?

pawn shop purse

Ah, designer bags. Though designer bags are a beautiful addition to any wardrobe, they also have a tendency to get worn often for a few months and then tucked away behind shoes you don’t wear anymore, either. 

Whether you have that bag an ex got you years ago in the back of your closet, or a purse your parents bought you as a graduation gift that you never really use, don’t let them just sit and gather dust. Instead, turn your designer purses into cash at Chicago Super Pawn. Designer items are one of the best items to pawn according to pawn experts. 

Every pawn shop is different and might give you a different loan amount for your designer bag. On average, however, you can expect to reach between 40 and 60% of the designer purse’s original worth. Chicago Super Pawn offers the best prices for designer bags in Chicago and other high-end items. We are the local pawn shop you can trust with your designer items.

As with any item you bring into a pawn shop for a loan, the amount of money you receive for your designer bag will depend on a few factors. Or, if you are ready to say goodbye to the bag entirely, you can bring it in to sell instead. There are some important differences between pawning and selling, however. 

Why Pawn Designer Handbags?

The designer handbag industry is growing right now, which means that your Chanel, Louis Vuitton, or Gucci bag is extremely valuable and should go for a good bit of cash. Though you may not think much about the value of the purse that is on your arm or in the back of your closet, they are in high demand at pawn shops. Designer handbags have a high resale value, which makes them a great way to get some quick cash while also cleaning out your closet. During a downed economy, pawning your designer handbags is an easy way to fill your wallet with a little extra cash. 

What Affects How Much Money I Can Get For My Expensive Bags?

There are several factors that can affect how much your designer purse will go for in Chicago (or any other city.) For example, a Louis Vuitton Neverfull bag might go for different prices depending on its condition and other factors. 

Authenticity 

In order to pawn your bag, it will need to be checked for authenticity. Our shop team will analyze the tags, hardware, and any supporting documentation that you bring with you. For example, if you have the receipt from when you originally purchased the bag, that can help prove that it was bought from the designer or another legitimate retailer. If you still have it, even bring the original box and dust bag that the bag came in when you purchased it. 

Cleanliness 

In order to get the most money for your designer bag, it’s a good idea to clean your bag out completely before bringing it in. Don’t forget to remove all of your belongings from the bag! A clean designer purse will get a higher payout than a dirty one. For example, if you have a bag that is made of leather, use a gentle cleaner on the outside to leave the surface shining like new.

Care

Finally, take good care of your designer handbags. Our team will examine the bag for scratches and any general wear and tear. You will get the most money for designer bags that have been well cared for and appear good as new. 

Brand 

Some designer brands hold their value and have better reputations, which means they bring a higher luxury value than others.

Rarity 

If the handbag you are selling is rare, custom, or in high demand, you will get a higher price than a more standard or conventional designer bag. 

Where to Buy Designer Handbags for Less

designer handbag

Are you in the market for a designer handbag of your own? In addition to purchasing designer handbags, Chicago Super Pawn is also an excellent place to come peruse our selection of designer handbags that we have for sale. If you are in need of a luxury holiday gift, consider stopping in to see our designer bag options for your wife, girlfriend, mother, or sister. 

Best Designer Purse Brands for Pawning

The more valuable the designer purse, the more money you will be able to obtain for it. Some designers are more popular than others. However, any type of designer bag should be able to fetch a little cash. 

Some popular purse brands you might consider pawning include:

  • Louis Vuitton purses
  • Hermes purses
  • Chanel purses
  • Yves Saint Laurent purses
  • Gucci purses
  • Burberry purses
  • Goyard purses
  • Fendi purses
  • Prada purses
  • Celine purses
  • Dior purses
  • Balenciaga purses
  • Coach purses
  • Michael Kors purses
  • Burberry purses
  • Kate Spade purses

Buy and Sell Designer Purses at Chicago Smart Pawn

The amount of money you can get for your designer purse also depends on the pawn shop you choose. Chicago Super Pawn is the city’s premier pawn shop and offers the most flexible loan payment plans. We specialize in high-end items like designer purses. If you are interested in finding out how much designer purses go for in Chicago, bring in a bag you are ready to sell to Chicago Super Pawn! We offer the best value in the city for all items, including designer purses. We are open six days a week. Stop by with your designer purses that you are ready to offload, and we will give you an estimate. 

How Do Pawn Shops Work?

Are you wondering, “how do pawn shops work?” Maybe you have walked by our Logan Square pawn shop and are curious, or all you know about pawn shops is from Pawn Stars.  If you are new to pawn shops, the experts at Chicago Super Pawn will fill you in on everything you need to know before your first visit. From the pawn definition to breaking down exactly how pawn loans work, we will educate you on the art of pawning so you are prepared. Whether you are looking to pawn a valuable item that is just sitting around your home, or you are interested in perusing our selection of items including jewelry, arts, electronics, and designer items, we are here for you! 

How Do Pawn Shops Work?

Pawning is the system in which you give a pawn shop a valuable item in exchange for a cash loan. For example, if you have a Rolex or a Chanel purse you don’t use, you can bring it in and receive some cash, quickly. 

rolex watch

A pawn shop basically operates as a mini-bank. When you pawn something, you use the item as collateral to receive a loan from the pawn shop. All you need in order to pawn an item and get a loan is a valuable item and a valid ID. One of our pawnbrokers will research the item and find out how much it is worth so they can determine how much to offer you for a loan. If you accept the amount, then you will receive your money in just a few minutes! There is no need to check your credit or go through any other types of checks. 

Pawning an item is much different than selling your valuables, because you have the opportunity to get them back when you pay off your loan within a set amount of time (typically 30 or 60 days) if you so choose. However, if you do not pay off your loan on time or set up an extension or a renewal, then the pawn shop takes ownership of the item and can offer it for resale. 

At Chicago Super Pawn, we consider ourselves to be the NEW Logan Square neighborhood community bank for Chicagoans. If you wish to pawn an item, simply bring us an item of value along with your valid photo ID. You will receive the money for your item just minutes after your loan is approved.

Pawn Definition

So, what is a pawn? A pawn is the object left with a pawnbroker as security for money lent. For example, you might pawn a musical instrument or a designer handbag at Chicago Super Pawn. Some of the best items to pawn include: 

  • Jewelry 
  • High-end watches, like a Rolex
  • Musical instruments
  • Designer purses and other items 
  • Precious metals 
  • Power tools
  • Electronics
  • Game consoles
  • Smartphones
  • Antiques 
  • Sporting goods 
  • Any other valuables 

At Chicago Super Pawn, we accept pawns including gold and diamond jewelry, electronics, musical instruments, tools, designer purses, and more. 

Everything You Need to Know About Pawn Loans

pawn loan
Photo by Lukas on Pexels.com

A pawn loan at Chicago Super Pawn is an easy and quick way to borrow money, without having to go through a credit check or any other unnecessary hassle. Your loan is based on the value of your pawn or collateral, not your credit rating or pay schedule. 

How Long Is a Normal Pawn Loan?

A typical pawn loan may have a term length of 30 days (or one month), plus a grace period of another 30 days, or one month. 

Do You Offer Extensions on Pawn Loans?

Chicago Super Pawn offers extensions on some pawn loans. If you cannot pay back your loan in full during the loan or grace period, we offer extensions and renewals to give you extra time. Or, you can choose to surrender your collateral as payment in full. 

What is a Renewal? 

If you are unable to pay back your pawn loan in full on its due date, you may get a renewal. With a renewal, you pay the interest that has accrued on your pawn loan in full, and a new pawn loan is written. The principal pawn loan amount remains the same, as does the interest rate. 

What to Know About Local Pawn Shops

If you are considering a visit to your local neighborhood pawn shop, here are some important things to know in advance. 

Choose a Trustworthy Pawn Shop 

When you are considering local pawn shops, always choose to do business with a trustworthy one. A reliable pawn shop will be licensed, knowledgeable, open to negotiation, and ready to meet your needs. 

Decide If You Want to Buy or Sell

Your local pawn shop is a great place to sell valuable items for some quick cash, but it is also a wonderful place to shop. Many pawn shops like ours have a wide selection of designer items, electronics, and even reasonably priced jewelry that have been carefully appraised and are sold for an excellent price. 

Be Prepared

If you are bringing in items to sell, consider how much money you will accept in advance. Then, clean your items so they are looking their best and be sure to bring in any documentation. For example, if you bring in a designer bag, bring the receipt from when you purchased it to prove its authenticity. 

We are the Local Pawn Shop You Can Trust

If you are looking for a local pawn shop you can trust, you have found us. Chicago Super Pawn is the city’s premier pawn shop. Whether you need a special gift for a loved one during the holidays or need some cash quickly. 

Visit Chicago Super Pawn Today 

While we can’t tell you how every pawn shop operates, we can tell you what our pawning practices are at Chicago Super Pawn, the city’s premier pawn shop. We are the local pawn shop you can trust. We offer the smallest and most flexible loan payments possible, so you can pay off your loan quickly. We are here to help. Stop in today with one of your valuables to get an estimate, or to shop our wide selection of high-end electronics, purses, jewelry, and more! 

Holiday Gift Buying Guide

Your 2022 Holiday Gift Buying Guide

Typically, we are drawn to buying gifts from big businesses during the holiday season due to the perceived ease of it. While you might find things that suit a loved one’s interests, needs, or wants, you’re often limited to the fads of the holiday season. 

holiday gift
Caucasian parents with adopted black children all together holding green holiday gift box placed in the middle of Christmas decorations and setting.

However, it’s never too early to be on the lookout for holiday gifts. Nobody wants to be scrambling at the last minute to find presents for their loved ones, so keeping your eyes peeled year-round is important. Buying from non-traditional sources, like pawn shops, adds a layer of authenticity to your gifts. You’ll find many one-of-a-kind items in pawn shops, which can help you in your search for the perfect gift, even for the most difficult individuals to buy for. 

Here’s your 2022 guide to gift buying for the holidays. 

Christmas Gift Deals

It can be tempting to simply go to a mall or do a bunch of online shopping for all of your Christmas gifts. However, we believe that gifts can be more thoughtful when bought from unique places. A great advantage to shopping for gifts at places like Chicago Super Pawn is that you can get an item in great condition for a significantly cheaper price. 

wall-with-artwork-and-frames-for-viewing

This is just one of the many upsides of buying gifts from pawn shops and other reputable second-hand retailers. If you’re on a budget, holiday gift buying is no problem. Pawn shops tend to offer a wide selection of goods for economical prices. 

Whether you’re looking for jewelry, tech gadgets, or even musical instruments, Chicago Super Pawn is a great place to begin your gift buying search. Quite frequently, you can get great deals on excellent finds, unlike shops that charge too much for cheaply made items. 

Holiday Gift Guide

It takes skill to become a good gift buyer. The best physical gifts are purchased with sentiment and functionality in mind. This means that unique gifts are often more sought after than gifts that are mass-produced. 

Gift buying, in general, is highly individual. You have to know a person well in order to get them a great and thoughtful gift. This means that you’ll have to put more thought and effort into finding the right present for those who may be particularly difficult to shop for. 

This is where Chicago Super Pawn enters the picture. We offer a vast selection of valuable products for great deals. Visit our website to peruse our gallery of items, or, better yet, come in person and visit us. Our employees are happy to help you out on your journey to finding the perfect gift. 

Trending Gifts in 2022 

super-pawn-hero

In 2022, unique gifts are a must. It’s important to think outside the box when buying for your friends and family. Let’s be honest: vintage is in, and our shop has got quite a few vintage objects and articles. From clothes to bikes to electronics, your trendy friends and family will appreciate the nostalgia that might come with their gifts. 

Going in person and hand-picking the gifts that you want to give is trendy in 2022. So often, we are pressured to simply open a web browser and order the easiest presents we can find. However, you will get a lot more satisfaction from going out and having a hands-on approach to gift-giving. 

Not only will you feel better about yourself and more confident in your gift, but you’ll also be comforted by the fact that you’re giving someone something that is almost one of a kind. You won’t have to worry about others accidentally choosing the same gift for the same person. 

Save on Christmas Gifts with Pawn Shops

At Chicago Super Pawn, we consider ourselves a new sort of neighborhood community bank. We offer the smallest and most flexible loan payments so that you can pay your loan off quickly. Plus, we have one of the best selections of quality products in Chicago

For a more in-depth look at the type of merchandise we offer our customers, you can take a look at our eBay page. There, you’ll find everything from shoes to glasses to more niche collectible items like autographed hockey pucks, DJ turntables, and designer bags. 

There’s truly something for everyone at our shop, from the easiest to the hardest person to buy for. Whether the person you’re shopping for is a tech maniac or a fashion enthusiast, you’ll be able to purchase items that fit their personality for much less than the typical mass-produced products you see pop up around the holidays each year. 

How to Save with Chicago Super Pawn

At Chicago Super Pawn, we’re obviously a Chicago-based shop, but that doesn’t mean that if you live elsewhere you can’t buy from us. Check out our online gallery and our eBay page. If you’re debating whether you should come in and see us in person. We promise you won’t be disappointed. 

We’re located in Logan Square, on the northwest side of the city. If you live in the area, we encourage you to stop by to look around at our products. We buy and sell everything from silver, gold, appliances, electronics, clothing, and so much more!

Whether you’re looking to buy for a family member or a friend or even to just treat yourself, it’s worth stopping by. So, if you’re interested in getting a good deal on quality items, give us a call or take a look at our website. 

If you have any questions regarding loans or how we determine the value of items, take a look at our FAQ page. If you still have questions after reading that, then don’t hesitate to give us a call. We’re dedicated to helping you find the best gifts this holiday season!

Best Items to Pawn

The Absolute Best Items to Pawn

If you need a little bit of extra cash in a quick amount of time, it might be beneficial to look into pawning some of your own valuable items. If you’ve seen reality shows about pawning, then it’s likely that you already have some idea of how pawn shops operate already. 

Technically speaking, you can probably sell almost anything to a pawn shop, but there are some items that will go for a higher price than others. In fact, many pawn shops seek out specific types of items for their store. So, if you have something that a pawn shop might want, you could earn a solid amount of money in a fairly short period of time. 

gold
jewelry store shop indoors – small business

At Chicago Super Pawn, you can bring us an item, and we’ll offer you a loan based on the item’s value. Like most pawn shops, the way we operate is that if you pay the loan off in time, you’ll get your item back, but if you don’t, we’ll be able to sell it to our clients. 

This is a great business model, as it allows people to take out loans based on the value of their own belongings. We don’t care about checking your credit before we purchase or pawn your products. In fact, this is a huge advantage to going to a pawn shop rather than the bank when you’re in need of quick money. 

What Do Pawn Shops Buy?

So, this of course brings up a whole host of questions for you. The first might be: what exactly do pawn shops purchase? The short answer here is pretty much anything that has significant monetary value that we feel our customers may enjoy. 

jewelry
Jewelry rings on showcase

This means that pawn shops are known to buy expensive items like jewelry, electronics, and instruments. More specifically, at Chicago Super Pawn, we buy products like designer handbags and even sports memorabilia. Here’s a list of items that tend to be in high demand at pawn shops in 2022:

  • Jewelry
  • High end watches
  • Musical instruments
  • Precious metals
  • Electronics
  • Power tools
  • Game consoles
  • Smartphones
  • Antiques
  • Sporting goods like bikes

So, as you can see, there are plenty of items pawn shops are interested in taking off your hands. There’s no real rule of thumb when pawning items, but it certainly helps if you’re bringing in things that a pawn shop typically looks to sell. 

Of course, use your own discretion and if you’re not sure whether an item is worth taking to the shop, you might as well bring it along and see. Even if it’s not something a pawn shop would typically buy, if it has value, you still might be able to pawn it. 

Pawning Jewelry: Dos and Do Nots 

If you need cash quickly, pawning pieces of jewelry can be an easy way to get it. Going to the bank and asking for a loan requires time and some planning. Meanwhile, you can walk into a pawn shop, give us a few jewelry pieces that you want to pawn, and walk away with cash immediately. 

If you have an emergency situation arise in your life, pawning jewelry can help you out quite a bit. Plus, you can always come back later and pay off the loan if you want the jewelry back afterward. In this way, pawn shops can help make difficult situations a little easier for you and your loved ones. 

When it comes to pawning jewelry, though, you’ll want to keep a few things in mind. The first is that you should try not to pawn anything that holds real sentimental value to you. Of course, you can always come back and pay off your loan to get the item back, but on the off chance that you can’t pay it back, you might regret handing over such a personal piece of jewelry. 

Additionally, you might not think of some of the more unique items that you could pawn. Before you head to the pawn shop, take a look at your watch, or perhaps your collection of watches. Many people don’t think about pawning their watch, but there are certainly reasons to do so. Watches hold great value, especially Rolexes

Another thing to keep in mind is any scrap metal lying around (i.e. broken jewelry) can also be pawned. In the case that you don’t have much jewelry lying around or that much of it has sentimental value, scrap metal is always a great way to get money quickly. 

Things You Didn’t Know You Could Pawn

Of course, there is always a chance that something lying around your house could be worth big bucks at the pawn shop. There are plenty of things that go for quite a bit of money that you wouldn’t normally consider when you think of a pawn shop. 

Some examples of more obscure things you can pawn are books, magazines, designer clothes and accessories, sporting goods like baseball bats and tennis rackets, workout equipment, household appliances, collectibles like coins, and handmade items like paintings or woodworks, and so much more. 

pawning
Happy beautiful young couple choosing a wedding rings while smiling while doing shopping in Florence.

Really, it all depends on the individual pawn shop that you decide to go to and what they believe their customers are looking for. If you live in the Chicago area and are interested in pawning any of your belongings, we suggest that you bring it to us at Chicago Super Pawn

Pawn With Us

Chicago Super Pawn is located in Logan Square, which is a community established in the northwest sector of the city. If you have items to pawn or if you’re looking for unique items to purchase, please feel welcome to stop by any time. 

We’re always keeping our eyes peeled for the next great product. Whether it be something a pawn shop would normally take like a gold ring or something less obvious like a power tool kit, we’re interested in looking at what you want to pawn to us. If you have any questions about our services, visit our website, give us a call, or even better, stop by in person sometime!

Can You Trust Your Local Pawn Shop?

Trusting your local pawn shop is a big risk and you should heavily consider your options before purchasing any pawn items. What do you think of pawnshops? Do you think of a clean and well-organized shop or the complete opposite? There are a lot of myths about pawn shops. Truth is pawn shops range on both ends of the spectrum! 

Did you know that pawnshops were the banks before banking became an industry? That’s right, going to a pawnshop for a loan was how people would get money.

At Chicago Super Pawn, we make it our mission to provide the best experience possible for our Chicagoland customers. From the moment you walk in the door, we make it a priority to take care of our loyal customers. All your pawnshop experiences must leave you happy and satisfied!

Making purchases from pawnshops is a great way to save money on major items. The perfect gift for your next anniversary can be found at your local pawnshop. Jewelry, watches, and electronics are some of the top-selling pawn items in the Logan Square neighborhood. The best part is, when kept well, they rarely lose value! 

Today, Chicago Super Pawn is covering everything you need to know when considering trusting your local pawn shop. What makes a reliable pawn shop? What is good to buy at a pawn shop versus what should you not buy? All of your questions will be answered in this article!

Seven Signs Of A Reliable Pawn Shop

jewelry for sale

You should have some expectations when you walk into a pawnshop. You’ll want to know the signs of a reliable pawnshop to be able to know when a pawnbroker is ripping you off. First things first, you want to know the value of what item you’re looking at and stand your ground on what you’re willing to price it as versus not. Respectfully, you want to have realistic expectations that pawn prices are typically the standard price and you should keep that in mind when looking to purchase an item.

Here are our seven signs of a trust worth pawnshop:

  1. Great Reviews

Great local pawn shops have available reviews! Any shop that doesn’t have any reviews or they don’t have any to be found is a red flag. Reviews are the best way to gauge if a business is legit and has a good customer satisfaction rate.

  1. They Should Be Licensed

All brick and mortar stores must be licensed by the state. It is a major red flag if they do not have a license for what they sell. Usually, the license to sell is posted in the store entry or behind the counter. You can also lookup the shop license online before visiting.

  1. The Pawn Shop Offers Prices First

Another sign of a quality pawn shop is that the pawnshop offers a price first. It is not recommended for a pawn broker to ask you what you’re willing to pay or how much you think it’s worth first. They know the item and are most likely trying to upsell you if this is the case. Be wary of this tactic.

  1. Open To Negotiation

With that being said, a good pawnbroker should always be open to negotiation. It is smart for them to negotiate because they should want your business. Negotiation is an expectation of most pawn shops. A pawnbroker that won’t budge on pricing from the start is not recommended to argue with.

  1. They Meet Your Needs

Pawnshops should always be customers first. Super Pawn Chicago does a great job of keeping a great reputation to meet your needs as a buyer. If you’re looking for a specific diamond ring cut and size and a pawn shop doesn’t have it, a good pawn will try to help you find the best fit for your needs.

  1. They are Knowledgeable

Pawnbrokers should always know what they are selling. A knowledge of the product’s market is how pawnbrokers price pawn items. If a pawnbroker doesn’t know anything about the item, then 1) how can they convince you to buy it and 2) how do they know they priced the item fairly?

  1. They Are Aware Of Market Standards

To reiterate the previous point, pawn shops and pawnbrokers must be aware of the marketplace. Certain markets have pricing standards. For example, jewelry has a market standard for purchasing. Pawnshops have to be aware of this to make a good and fair profit. You also want a fair pawnbroker. At Chicago Super Pawn, we recognize the value of repeat customers and work to be as fair as possible. In fact, we are one of the only pawnshops that will prorate your loan. 

What Is A Pawnbroker?

pawn broker

A pawnbroker is an individual or a business owner that offers loans with interest in exchange for holding onto valuable items. You may have heard of people who have given pawn brokers their wedding rings in exchange for loan money. Any valuable item, especially jewelry, can be used to get a loan from pawnbrokers.

When individuals have their valuable items on hold at a pawnshop for a loan, it is usually to get money to quickly pay bills, purchase medicine, or for any need really. Pawnbrokers offer a great alternative to banking loans at less risk. Pawnbrokers do not affect your credit. The only risk is losing your valuable item if the loan isn’t paid back in a set amount of time with the acquired interest.

This option has been helpful for many people in the past. Knowing the value of the item you are allowing pawnbrokers to hold onto is crucial. As well as knowing the difference between pawning and selling! You do not want a pawnbroker to devalue your item in your loan amount. By knowing its value, you give yourself options to negotiate with.

What To Buy vs. What Not To Buy At Your Local Pawn Shops

Resale stores can be a hit or miss. Depending on the reliability of your local pawn shop you may find some great finds for a great price. Most items can be outdated and at the end of their lifespan, going to be sold. But, if you shop smartly at your local pawn you can score big!

There are a few general dos and don’ts on what to look for when shopping at a reliable pawnshop. Whether you’re looking for personal items or to flip items, you can stand by our treasure-finding tips we’ve listed below.

Where Can I Find Cheap Jewelry in Chicago?

Finding cheap jewelry that is high quality can be a struggle! The range of jewelry in the marketplace ranges from five dollars for a gimmicky ring to thousands of dollars for a quality tennis bracelet. Thankfully there is an in-between! It can be hard to find inexpensive but quality jewelry. No one wants jewelry that is going to break after only wearing it two times.

Most jewelry experts will attest to buying quality jewelry that will last a lifetime. However, jewelry is like a fragrance, it can dress an outfit in many different ways. There’s no need to put a large amount of money down for designer jewelry that you find cheaper at your local pawn shop.

Resale jewelry is the best option for buying quality pieces at a fantastic price. Buying quality gifts for Valentine’s Day and anniversary celebrations does not have to break your bank. Pawn Shops have great pieces that are easily refurbished and packaged to be the perfect gift! Finding quality cheap jewelry doesn’t have to be hard to find.

Today, Chicago Super Pawn is showing just that! It means the world to us to make our customers in Logan Square and all over Chicago very happy. Jewelry is one of the highest-grossing items we sell and everyone loves what they purchase. We’re going to discuss what makes quality cheap jewelry and the signs to consider to find a reliable pawnshop for you.

How To Spot Quality Cheap Jewelry

quality jewelry

Spotting quality jewelry for less is easier than you think. If you are local to Chicago, take a stop by Chicago Super Pawn, for an amazing selection at star prices. We’ll set you with a great piece that’ll last a lifetime. You can also view our gorgeous jewelry collection in our online shop!

Here are five signs to look for when trying to spot quality cheap jewelry:

  1. Examine The Jewelry Piece

First and foremost, you want to make sure you fully examine a jewelry piece to ensure quality before purchasing. Make sure to examine the feel of the jewelry piece that is heavy and not light. The metal should feel cold and not flimsy. Inspect the gems on the jewelry piece if it has any.  We recommend getting an expert opinion on whether the gems are authentic or not.

  1. Ask For Guarantees And Offers

When trying to spot quality cheap jewelry, make sure to ask the pawnbroker if they have any guarantees on the jewelry pieces you’re looking at. This just means that they guarantee that it is authentic gold or stone. Most pawnshops have in-house gemologists/jewelry experts to examine the jewelry for you. Expert opinions and additional offers are a major green flag for  pawn shops.

  1. Embracing Resale And Refurbished Items

Resale items are the way to go when looking to get quality lifetime jewelry pieces for a lower price. Jewelry lasts for a lifetime and just because jewelry items are pawned does not mean their quality is wasted. There is so much potential for resale jewelry items. Some pawnshops even offer to refurbish jewelry services. This is great for anyone looking to get quality jewelry at a cheap price for a gift. 

  1. Consider Layaway Programs

Shopping and reselling jewelry also help your wallet and the environment. A lot of pawn shops have loyalty and layaway programs. This means for every purchase you make you earn points to use on other items. If you’re looking to buy cheap jewelry in bulk or for future purchases this is a great option to ask if your local pawn shop has this program.

  1. Keeping An Open Mind

Quality jewelry is usually found when you least expect it. Keep an open mind that your hunt for quality cheap jewelry does not have to be hard. Most people wouldn’t expect amazing designer pieces to be pawned, but you never know what you could find! There have been amazing pieces found at Chicago Super Pawn!

Do’s and Don’ts On Buying Affordable Jewelry

Do’s of Buying Affordable Jewelry

  • Ask For Quality Verification Cards
  • Have An Expert Opinion
  • Invest In Genuine Gemstones 
  • Rich and Deep Color Metals and Gems

Don’ts of Buying Affordable Jewelry

  • Buy Plastic 
  • Buy Diamond Intimidations
  • Buy Low Karat Gold
  • Buy Thin Body Jewelry
  • Buy infused Gemstones

Final Inexpensive Jewelry Tips

gold jewelry

Overall, inexpensive jewelry is a win-win situation for everyone. You find pieces you are proud to own, your local pawn shop owners are supported in your community, and the environment is helped. What’s great about a piece of expensive jewelry found at your local pawn shop is that no one else can find that jewelry piece!

You must find a reliable pawnshop to buy from. They should be open to negotiating prices if you find it fit to. Your local pawn shops should not ask you to name your price first. This is a marketing tactic and you could be manipulated into overbuying. A great pawn shop that knows its market, especially with jewelry. Here in Chicago, Chicago Super Pawn is the leader in Jewelry sales.

You want to make sure you have good knowledge of what you are buying or selling to a pawn shop. It is highly recommended to get a second opinion on the authenticity of any jewelry piece you buy, whether it be resale or brand new. This is because gold-plated jewelry is very different from authentic gold karat pieces. Another inflated jewelry item is gemstones. Manufacturing companies love to infuse gemstones to lessen the authenticity of the stone. Manufacturers make jewelry with infused gemstones to qualify them as being real. For example, a marketing team calling an Amethyst Stone rings real Amethyst, even though it is not fully a true Amethyst Stone.

With all of this being said it’s important to know this knowledge when you’re getting a piece inspected. If any piece looks too bright and is lightweight that is a bad sign. Having quality knowledge in the pricing market of certain jewelry pieces ensures that you won’t be taken advantage of. 

Quality cheap jewelry isn’t hard to find if he keeps an open mind! At Chicago Super Pawn we make it our mission to help our customers in Logan Square, Bucktown, and Wicker Park find pieces that you are proud of or gift without breaking your wallet. 

Need Quick Cash in Chicago? Bring in Your Rolex

Many people don’t know that pawn shops are actually more like banks than stores. While pawn shops definitely buy items, they also give out loans. When you pawn an item, you actually use it as collateral for a loan. If you are in Chicago and need quick cash, bring in your Rolex! You can bring any item of value you’d like to appraise and see if you can get a loan for a good amount. If you were to bring in your Rolex to pawn it, the process is very simple. 

Get an Appraisal

People in Chicago bring in a Rolex watch and the pawnbroker will examine it to give you an appraisal value. This value will determine how much you can pawn it for. Your appraisal depends on the condition of your item as well as its current rarity and the value of its components. Most Rolex watches are made of a special steel known as Oystersteel, or 904L stainless steel. This is difficult to make and temper, but is extremely durable and doesn’t corrode easily. Rolex watches are one of the only items to appreciate over time rather than depreciate, so you never know what yours could be worth! Rolex pricing does change over time based on popularity as well, so even if you had yours appraised previously, you can bring it back and see if the value has changed. 

Rolex Pricing

rolex watch

The Rolex pricing range is pretty vast, ranging from about 6,000 to 75,000 dollars. While not every pawn shop can afford to pawn on the high end of that, we here at Chicago Super Pawn can. The most expensive Rolex watches ever sold have almost always been pre-owned! There are so many Rolexes in the world, but they hold onto their value well. If you need quick cash, bring in your Rolex, get it appraised, and pawn it. We are the premier Chicago pawn shop that specializes in high end watches and jewelry so you never need to worry about not getting a fair price.

Certified Pre-owned Rolex

If you have a certified pre-owned Rolex, you have an even better chance of making quite a bit of money off of it. Most of the time, a certified pre-owned Rolex is worth as much or even more than a new Rolex. If you have a certified Rolex, it is certified by a company, not by the manufacturer. This may only prove that it is an authentic Rolex and not a fake or a knock-off. Some other watches that are similar to Rolex still hold value, depending on the company. Some companies also restore Rolexes, then sell them as a certified pre-owned Rolex. If you need quick cash, bring in your Rolex! Rolex pricing can be tricky and take some time for a pawnbroker, so having a certified pre-owned Rolex can help you get your loan as quickly as possible. 

Pawning Your Rolex

Pawn a rolex

Once you have an appraisal, you can choose to sell or pawn your Rolex watches. When you get the value, you can take out a loan for the value of that Rolex. The pawn shop will keep the item safe for you, as you still own it. When you pawn it, you usually have about 30 days to return and pay off the loan or to pay the interest and keep the loan going another 30 days. If you default on your payments, the pawn shop then keeps your item. If you decide not to come back to claim your item, the pawn shop can then offer it up for sale. Some people decide not to pawn their item, and simply sell it for cash. Pawning has its benefits! 

Benefits of Pawning

When you pawn an item instead of selling it, you get cash for it right away, but you don’t lose your item. If you live in Chicago and need quick cash, bring in your Rolex, take the cash, and come back and pay for it later. There are many reasons why someone would rather do this than take out a loan from a bank. The only thing you need to get a pawn loan is an item and a valid ID! You can even get a payment plan to buy back your item. No credit check! Sometimes people just need cash without worrying about a credit hit. Sometimes your credit is poor and you need money for a certain reason. Title loans and other ways to get cash can be so expensive! Using your item as collateral helps you get a loan without worrying about all the other things that go into other types of loans. 

Buying Items

If you are in Chicago and looking for Rolex watches, you can buy one at our store as well! The inventory does vary day to day, but there are many options for jewelry and watches available. You can even check our online stores to see what is in stock. Buying online is a great way to get the items you want without going too far, but in-store is a much better experience. You can see and play musical instruments, try on jewelry, and examine each item before you purchase any of them. We try to offer a good deal on our items for purchase as well! Rolex or not, each item is priced to sell. We also offer the option of trading! If you have an item of value you wish to upgrade or get a different item, comparing prices and appraising can get you a great deal. 

Pawn Your Rolex Watches

If you feel concerned about pawning, come into our Chicagoland store and we will gladly appraise your item and help you through the process. Pawn shops can be a little intimidating, but the best pawn shops are where you can strike a great deal. You can see what your item is worth and decide if a loan is right for you. It isn’t like a bank where you have to qualify, and you won’t have a credit check. You can bring in your Rolex, your PS4, jewelry, or any other items of value. This is a great way to get cash quickly, safely, and in a way where you don’t lose your valuable items. 

The Difference Between Pawning and Selling

While people see pawn shops every day, not everyone understands the difference between pawning and selling. Many people in Chicago don’t know there is a difference between pawning and selling their items! Some even wonder, “what is a pawn shop?”. In many ways, selling and pawning are similar, but there is a big difference. When you pawn something, you still own that item. The best pawn shops are the ones where pawning is easy and affordable. When you know more about what a pawn shop does, you can utilize one yourself! 

What is a Pawn Shop?

A pawn shop is actually much more like a bank. When you pawn something, you use the item as collateral to receive a loan from the pawn shop. This avoids the need for checking your credit for a loan. All you need to get a loan from a pawn shop is a valuable item and a valid ID. For example, people looking for a Chicago pawn shop will come to the Chicago Super Pawn and bring in a Rolex to pawn. We can get them a loan on the spot!

Quoting a Price

pawn shop

When you first bring in your item, the pawnbroker will give it an evaluation. Appraising an item for its value can be somewhat complicated, especially for items with more value. Your broker will research the item and find out how much it is worth in today’s market. If you have jewelry, they will test the value of the stones and the metals using equipment and chemicals. Finding out how much your jewelry is worth beforehand may be useful to you. For example, producing a jeweler’s appraisal for your items could help. The condition of your item is also taken into consideration. A broken or damaged item is always worth less than one in good condition. Once an appraisal is made, the broker will let you know how much cash they will offer for your item. 

How Does Pawning Work?

Are you in Chicago and in need of some quick cash? Of course, you can always sell your item to a pawn shop. The appraisal will help the pawnbroker decide how much they will offer, then you can make the decision of if you will sell your item for that price or not. Generally, selling an item will be at a lower price so the pawn shop can make a profit if they sell the item. If you choose to pawn your item, you will have the opportunity to take out a loan and use the item as collateral. You will receive cash for the item, and you have a grace period to pay back the loan. This is the difference between pawning and selling! While your item has been pawned, you still own it, so the pawnbroker will take good care of it. 

Paying Back

Generally, you will have about 30 days to pay back the loan. Then you will have another 30 days before the pawn shop will sell your item. You could technically still have the opportunity to buy your item from the pawn shop itself when it goes up for sale, but anyone could purchase it at that time. Sometimes you can get a renewal, where you only pay the interest accrued on the loan, and then your loan period will start over. This depends on the item and on the pawnbroker. Here at Chicago Super Pawn, we will send you messages when it is time to pay. We also will prorate your payment. We think it is fair to charge you for the time that you had a loan, not the full month.

Why Pawn? 

Often people pawn to be able to have emergency cash. Sometimes a pay period lines up poorly with bills, or an unexpected expense comes up, like needing medicine. Sometimes people use pawn shops strategically to purchase another item that would be time sensitive, like a vehicle. Then, they can come back and pay off the pawn loan in the time they need it. Credit is so important in today’s world, so pawn shops are one of the last places you can get a loan without checking your credit. Some people have bad credit as a result of unfortunate circumstances. Maybe they are young and haven’t built up their credit much yet. This is why the best Chicago pawn shops offer good loans that won’t destroy your wallet, and help you get the cash you need. But most importantly, you don’t need to wait weeks for a loan approval. We know that life’s emergencies do not wait, so why should you need to?

Selling Items

rows of gold and silver rings

When someone sells their item to the pawn shop, it then goes up for sale within the shop. People can get used items for a good price at a pawn shop! You can buy or sell things like video game consoles, necklaces, watches, rings, art, musical instruments, vintage items, and more! If you sell your item, the pawn shop will put it up for resale shortly afterwards in their shop. You can also look into trading. You may have some items you’d like to upgrade, and you may find a great deal on another piece. You can see what your item is worth and look into negotiating a trade with the pawnbroker. This is another option separate from pawning and selling. 

What Makes a Pawn Shop Great?

The best Chicago pawn shops are ones that can offer you a great deal! The difference between pawning and selling doesn’t matter if you aren’t able to get a good deal for either. Finding a pawn shop that will be flexible, trustworthy, and safe is very important. If you are seeking the best pawn shop near you, go in and take a look at what they have to offer, and speak with the pawnbrokers. You may want to ask about some of their policies and contracts before you bring in your item. Weigh your options! If you feel like you aren’t getting the value you are seeking out of your item, try another shop. Know the value of your item, and you may be able to find the deal you are hoping for! The best pawn shop won’t try to cheat you, but they want to help you get the best value and be able to have cash in hand for your item. They also want you to be able to safely pay the pawn loan and get your item back. 

Check Out Pawn Shops

Even if you aren’t looking for emergency cash, pay a visit if you are in Chicago! Pawn shops are great places to find a good deal. Knowing the difference between pawning and selling will help you to be able to utilize a pawn shop for your loan needs.