Pawn Shop Musical Instruments
Whether you want to buy or sell a musical instrument, pawn shops are where you might find the best bargain. A music pawn shop provides the opportunity to make a quick sale on an instrument you may no longer need. You can also buy a pawn shop saxophone, violin, or guitar at a great price.
Pawning musical instruments is similar to pawning fine jewelry or any other valuables. Although selling your instrument outright is a possibility, when you pawn an instrument, it becomes collateral; the pawnbroker appraises the value of the instrument, which becomes the loan amount you receive. When you pay back the loan on a date agreed on by you and the pawnbroker, you can receive your music equipment back from the instrument pawn shop.
Why Sell Your Musical Instruments at a Pawn Shop?
Selling musical instruments at a pawn shop, such as electric guitars, saxophones, keyboards, etc., is a straightforward process where the instrument is appraised. You can then agree to sell it or not. You also have the power to negotiate. However, pawn shops that sell instruments diligently track the latest pricing trends (especially for top brands), which usually reflects the cash in hand you receive.
The pawn shop is looking to make a profit. Issuing a loan isn’t as profitable as buying something outright. You will most likely get more money by selling your instrument rather than if you pawn musical equipment.
Why sell a musical instrument at a pawn shop? While a pawnbroker won’t pay top dollar for your instrument, once again, profit is their goal. To determine a fair price, they’ll check online listings and perhaps confer with friends and professionals in the music retail sector. In general, expect to get anywhere from 40% to 70% of the list price, depending on the condition of your used or old instrument.
So, when selling acoustic guitars and other instruments to a pawnbroker, it’s wise to:
- Look at the serial/model number. If it is an antique, you’re likely to get more money for it. Often, you can find out information by Googling the number.
- Have the instrument appraised at a pawn shop or local music store. You will then have an idea of what its true value is. Music stores are often connected with instrument appraisers.
- If your instrument needs repairs, discuss this with the appraiser to determine whether fixing it is worthwhile. You may not profit much if the instrument costs a lot to fix.
- Bring the case, extra strings, and any accessories you have that can make the purchase more valuable to the buyer.
- Other ways to get the best price include cleaning the instrument, bringing the original packaging, and researching similar ones online, which will give you some negotiating power.
About West Covina Pawn & Loans
Whether you’re looking to pawn musical instruments, sell an instrument, or buy pawn shop guitars for sale in Los Angeles, West Covina Pawn & Loans can work with you. We buy valuable items and can provide quick cash if you need it. To receive an instant cash loan, free appraisal, or learn more, contact us on the web or call 626-602-1149.
West Covina Pawn offers terms from up to 4 months. APR Interest Rates vary from 2% to 35.99%. Rates vary based on value of collateral as well as length of loan. All rates and terms of loans are strictly regulated by the State of California. Example: Amount Financed $2500. APR 24.12 percent. Length of loan 4 months. Total Interest charge $201.00 Total Interest and Principle is $2,701.