Pawn shops are places where people can sell their unwanted items and get some cash. They’re also regulated by local laws to avoid the sale of stolen goods. Unlike selling online, the pawn shop process requires photo identification, a description of the item, and a hold period to prevent thieves from immediately reselling the items they’ve pawned.

Because pawnshops loan pawn shops against the value of merchandise, they’re in regular contact with law enforcement to ensure that they don’t handle stolen goods. When you pawn something, you leave the item as collateral, and when you’re ready to redeem it, you’ll need to pay back the pawnbroker plus any interest that accrued while your item was in the store.

Discover the Best Local Pawn Shops Near You

Since pawnshops typically only offer a fraction of the item’s resale value, it’s important to do your research ahead of time to know how much you’d like to get for your item. It’s also helpful to visit a pawnshop on a consistent basis so that you can build relationships with the employees and develop trust.

Keep in mind that pawnshops will almost always lowball you on your first offer, as they’re looking to spend as little as possible while still turning a profit. This is a trade-off you’ll probably have to accept. If you’re selling an item that requires a lot of specialized knowledge, such as a firearm or vintage guitar, it might be more challenging to find someone who’s willing to take it off your hands.