Pawning Goes 2.0

Pawn Shop

If the phrase “pawn shop” conjures up images of grimy storefronts and people desperately hawking heirlooms, please click and drag yourself into the 21st century.

These days, along with everything else, pawning has been reinvented online as a potential source for easy cash—or access to pricey goods at low prices.* Two websites to try:

  • Want cash? Pawngo allows you to pawn luxury items, ranging from $250 to $100,000. You send a description and photo of your diamond ring, for example; they make you an offer; you ship it to them (free).

    Once you agree on a final price, Pawngo deposits cash into your bank account (if not, they ship it back to you). Your item is insured and stored until you pay back your loan plus 6% interest (4% if the loan is more than $10,000).

  • Looking to buy? Search more than 500 shops with PawnSearcher. Pawnbrokers then email you with offers, and you negotiate a price directly.

Still, it pays to be cautious. Use the National Pawnbrokers Association’s pawn shop locator to find registered shops.

Sell out. Have you ever pawned an item? Share the experience.

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