Tools are one of the most commonly pawned items next to jewelry and consumer electronics.
When it comes to the brands that they accept, Milwaukee is near the top of the list for being so desirable and sought after. They make some great tools, and in some cases, are truly a prosumer line for contractors.
How 'Pawnable' Is This Item
What Value Does This Item Have
In terms of pawnability, Milwaukee tools score a “Good” rating. This would be higher of course if it weren’t for the fact that some pawn shops just don’t take tools overall.
In terms of value, Milwaukee tools only score a “Fair” rating. This is because more often than not, tools are used on the job and have taken some damage in the process. When tools are heavily marked up or worn from previous use, a pawn shop may not offer you what you expect for them to.
You can do somethings to bring this value rating up a bit of course, but we will get into that next.
What To Bring With You:
When you head into a pawn shop with your Milwaukee tools, it’s important to have some key elements with you.
First and foremost, make sure that the batteries are fully charged. Pawnshops often see tools with bad batteries and if your batteries are good but just uncharged. then the pawnshop will unfortunately have to assume they are bad, which will work against you when they are determining how much to loan you or offer to buy your Milwaukee tools for.
The next thing on the list is to be sure you have all of the parts. Things like chuck keys, feet for reciprocating saws, the magnetic base for magnetic drills, the base for routers, etc. can all make a big deal when a pawn shop is evaluating how much to offer you based on the completeness of your item,. Missing these things can seriously hurt you.
Doing these things can certainly help your odds for getting the most amount of money possible out of a pawn shop when you take your tools in to be looked at.
Percentage Of Pawn Shops That Accept This Item 80%
Percentage Of Pawn Shops That Consider This Item Desirable 60%
Average Redemption Rate For This Type Of Item 70%
Percentage of Households That Have This Type Of Item 10%
Percentage Of Times This Type Of Item Is Pawned vs Being Sold 90%
Roughly 80% of pawnshops nationally take in Milwaukee tools. Of those that do, 60% of pawnshops consider them to be very desirable.
Milwaukee tools enjoy a relatively high 70-80% redemption rate. Roughly 10% of households have them and of those that do, 90% of people choose to just make a loan on their tools versus selling them outright.
What Are Some Advantages To Pawning This Type Of Item
You should have very little difficulty finding a pawn shop that will take in your Milwaukee tools generally speaking.
Depending on the age, condition, and type of tool, you will have a good chance of walking out of a pawn shop with a decent sized loan or offer to buy.
What Are Some Drawbacks To Pawning This Type Of Item
If you use your Milwaukee tools for work, it may be tough to live without them while they are in on pawn.
Pawning or Selling Your Milwaukee Tools To A Pawnshop
While not all pawnshops deal with tools, most do, particularly in more rural areas.
Of the tools that pawnshops often accept, pretty much anything made by Milwaukee is going to be pretty high on the list of favorable brands.
They stand up to the test of time, are typically very powerful for their class (consumer/prosumer) and Milwaukee does make some truly prosumer tools that some manufacturers don’t touch.
It is really important to be sure that your tools are in good shape when you take them into the pawn shop. Equally, it’s important that they have all of their various part sand pieces, so that you present the tool as complete.
I can’t stress enough how important it is that the tool’s batteries be charged. Otherwise the pawn shop may make the assumption they are bad, which will seriously hurt your overall loan value of offer that you’re given for your tools.
Wordpress junkie, music lover, and consumer of all things pizza-oriented. I’ve run pawn shops and check cashing operations for years. I developed the most successful digital marketing marketing strategy for pawn shops known to date, and flip items on eBay for fun.
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