Did you know that you can make money off of your local pawn shops? A lot of people know how a pawn shop works; however, they don’t realize just how much money they can make themselves. The key here is to find items that your local pawn shop needs and then sell them to the pawn shop owner for a profit. I know it sounds like a lot of work but the truth is that it is not.
There are many ways to get items to sell to your local pawn shop and the short list below will give you a few ideas. Just be aware that every pawn shop is different and because of this you must think about what each one wants and needs as opposed to all of them as a whole.
Where To Find Quality Items
Ebay – Everybody knows about Ebay and what you need to understand is that you can make a lot of money as long as you buy the right items. Most people spend their time looking for single items, but what you need to do is buy the items in bulk. This will give you the quantity that you need in order to really bargain with the pawn brokers in your area.
Craigslist – Something that most people don’t know about Craigslist is that more people trade things than buy and sell them. The reason I bring this up is because you can find an item that you don’t need and then trade up until you get something that your pawn shop would want. It’s important to note that Craigslist is filled with good items but not all of them will be priced cheaply enough to sell for profit.
Storage Auctions – This is where I love to go and get items. The nice thing about a storage auction is that you can find some really good things there that will make you a decent amount of money. It doesn’t have to be a lot of money, but it all adds up.
As you can see, there are a few places where you can get some great items. What you must do now is take a look around and see which items you would need to get in order to make some money. One last thing that you must note is that a pawn broker will give you a percentage of the value for each item. Some pawn brokers will give you up to 60%, but the percentage will vary from shop to shop and from item to item. Once you familiarize yourself with the terms of the pawn brokers in your region, you will be able to shop strategically, finding and buying items that you know will be profitable for you.
This type of hobby/small business is definitely not for everyone. I wouldn’t recommend that you try to make a living doing it. But it definitely could be a great way to bring in some extra cash each month if you are willing to give it a try.