Many people hear the words “pawn shop” and think of seedy stores where criminals sell stolen goods. In reality, pawn shops are legitimate businesses with strong ties to their communities. A Happy Pawn in Honolulu, HI, is a Better Business Bureau pawn shop that offers fair pricing on all items customers are looking to buy, trade, or sell. They provide customers with fast cash and high pricing on diamonds and jewelry. The team at A Happy Pawn knows that a visit to their shop will eliminate all of the following misconceptions people have about pawn shops.

5 Pawn Shop Misconceptions

1. Pawn Shops Contain Stolen Goods

One of the biggest misconceptions about pawn shops is that they accept stolen goods. This is false. There are strict processes in place to log in all items that are bought and sold. Detailed records are kept of the seller’s information including name, address, and description. This allows them to work with law enforcement and provide as much information as they can if they believe an item might be stolen.  

2. Pawn Shops Rip You Off

Many people believe that pawn shops are out to take advantage of people coming in to pawn their items. In reality, pawn shops offer short-term loans for those who need fast cash and offer a fair price on what they believe that item is worth, how long they think it might sit on their shelf, and what they can get for resale. Pawn shops are a business and need to make a profit, but that does not mean that they are out to take advantage of the customer.

3. Pawn Shop Items Are Damaged, Outdated, or Low-Quality

Pawnbrokers make sure that all items brought into their shops are in good working order and meet their standards. Pawnbrokers won’t accept electronics that are so outdated that they can’t be resold. And when it comes to jewelry, you can find high-end jewelry, precious stones, and watches that are all almost indistinguishable from new items and are offered at a discounted price.  

4. All Clients Are Down on Their Luck

A variety of people use pawn shops, not just those who are down on their luck. Many customers are looking for short-term loans without negatively affecting their credit or having to go through a bank. Others are looking for fast cash on an item they want to sell.

5. Pawn Shops Are Unregulated

There is a misconception that pawn shops are unregulated. In fact, pawn shops are regulated by both state and federal laws. All pawn shops have to be licensed and follow laws that are similar to bank regulations.

Now that some of the most common misconceptions about pawn shops have been debunked, come into A Happy Pawn today to buy, sell, or trade your items. If you are looking to sell gold or exchange diamonds and jewelry, call (808) 383-5253. For more information on all their pawn shop services, visit them online.