Top 5 Mistakes People Make At Pawn Shops

When most people think of pawn shops and pawn loans, they think of shady deals made behind dusty curtains in small, stuffy rooms. However, that’s very far from the truth.

At The Gold ATM, we do everything with professional transparency, and we encourage our clients to question everything. Furthermore, while we are more than happy to claim we are the best Atlanta pawn shop and that we offer the best pawn loans and jewelry loans out there, we are adamant about not pressuring our clients to make any sort of deal if they’re uncomfortable doing so.

To make sure all our clients, current and potential, are up to date, we prepared a short overview of the top 5 mistakes people make at pawn shops. As one of the best pawn shops in Atlanta, we know what we are talking about.



(1.) Overestimating Your Valuables


One of the first mistakes that people make is overestimating. Of course, it’s understandable that your beloved items have enormous sentimental value to you. However, that doesn’t necessarily translate to monetary value. Just because you treasure your grandfather’s watch doesn’t mean a pawn shop will instantly buy it from you or offer you a pawn loan.

The Gold ATM is a titan in our field, and we deal with pawning and selling Rolex watches, luxury handbags, and many other items. Therefore, it’s better to trust our professional evaluation to ensure you’re getting a fair offer for that precious item’s true value. We want to make sure you get the most for your valuables.



(2.) Overboard in Pawn Shop Negotiations


This mistake goes hand in hand with the previous one. Just because you value your item, you may think there’s plenty of room to ask an exorbitant sum for it. One of the biggest misconceptions out there is that you can negotiate a much higher amount than the dealer is offering. As renowned gold and diamond buyers and leaders in the Atlanta market, we can assure you — our first deal is already the best one.


However, if you feel that you can receive a better offer from another Pawn Shop in the Atlanta area, we empower our customers to trust their gut instinct and accept the better offer. Once again, there is absolutely no pressure to accept our offer if you don’t want to.



(3.) Thinking “Pawning” means “Giving Up”


Did you know that a pawn shop is legally obligated to wait 30 days before it displays your item? Therefore, you have 30 days to get your item back after pawning it. The common misconception is that pawning your precious valuables means they’re gone forever, but we can assure you that there is still plenty of time to get your items back into your possession.



(4.) Prices Aren’t Fixed


Prices of precious metals, especially gold, and precious stones fluctuate. The changes aren’t drastic, but they are inevitable. Therefore, big pawn shops, like The Gold ATM, always display daily gold rates for their customer’s assurance. We also have a specific formula of evaluation. We don’t just offer money willy-nilly. As customer satisfaction is our top priority, we evaluate and explain our process in front of our clients. That way, there can be no confusion or bad deals.



(5.) Thinking you’re Buying Stolen Goods


As one of the leading pawn shops in Atlanta, we take pride in keeping a meticulous record of all items we buy, pawn, or sell. We also compare these lists with police records daily. The Gold ATM doesn’t take the law lightly, as we operate as a secure pawn shop in a high-rise setting.

For more information about The Gold ATM, our pawn process, and much more, please visit our website.