Benefits of Selling or Pawning your Old Electronic Items

Congratulations! Planning to sell or pawn your electronic device indicates you are ready to buy the latest version.

Difference Between Pawning and Selling

● Giving the electronic device to a pawn shop as collateral for a loan is called pawning. The loan amount is the value of your electronic device, which is appraised by the pawnbroker. The loan amount would have to be paid back to the pawnbroker by a given date decided mutually, in exchange for which your electronic device would be returned.

● Selling the electronic device at a pawn shop is a straightforward transaction. Either you will finalize the deal at a reasonable price and sell the device, or you won’t. Since the negotiating power lies with you, you can do the necessary research to know the market rate and get the best price.

Precautions or Steps to be Taken Before Giving Away your Device

Do your Research about the Pawn Shop

Whether you own an Apple MacBook or a Samsung Galaxy series, it is first essential to identify if a particular shop deals with these devices. Some pawn shops are extra cautious about small dents, and scratches from heavy usage and possible viruses and altogether avoid taking such devices.

Backup and Remove All Personal Data

Before approaching the pawnshop, it is wise to backup and save all personal data and then format or perform a factory reset setting on your laptop. Ensure your item is ready to be sold and used by the next owner. It is incredibly crucial to backup your photos, videos, documents, and passwords/usernames on a separate computer or portable hard drive.

Clean your Electronic Device Properly

Pawnbrokers or shopkeepers view a dirty laptop as a huge red flag as it gives the impression that a dirty or unkempt device is bound to have technical issues. Wipe it clean with a dry rag or cloth to wipe away the dust, debris, and food crumbs. One should also check the screen for smudges and fingerprints.

Know the Specifics of Your Device

Know the specifications of the laptop or tablet in and out as it will help you negotiate for the best cash price. By researching the item, you will get to know the resale potential it carries. Key points to remember are:

The Brand/Manufacturer’s Name
Series or Model Number
Processor Type
Screen Size
Hard Drive Size
Amount of RAM Memory

Negotiate Like a Pro

Before going to the pawnbroker, it is important to have your facts and figures and know the market rates. Two key parameters should be clearly defined – how much it is worth and how much you want to sell it for.

When you interact with a pawnbroker, keep the talking to a minimum to avoid disclosing any crucial details as this can affect the offer of the broker. Listen to the broker and identify their reason for suggesting the price stated. If making the offer first, it should be way higher than the price which you plan to sell the item for. This way, one can let the broker convince you to go a little closer to the price one wants.

Be willing to walk away if the negotiation doesn’t go your way.

Loudoun Exchange & Jewelry has been a trusted brand for over 20 years and provides the best prices for exchanging your valuables. With all due licenses, bonds, and insurance in place, Loudoun Exchange & Jewelry helps you take home new devices without compromising on the real value of your old device.

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