So here’s the scenario… Maybe you sold something to a pawn shop, or maybe you just a made a loan against something. Or in the worst case scenario, maybe someone else take something of yours into a pawn shop and you want it back.
Under these scenarios, it’s pretty common to want to know how long pawn shops are able to hold onto items for before they turn around and sell them.
After all, if a pawn shop only has to hold onto something for 10 or 15 days before selling it, it may make it tough for you to get your items back and that’s a completely understandable concern to have under those circumstances.
Well, there is some bad news here.
There is no one standard length of time that pawn shops have to hold onto items before selling them as it is something that is governed by state and local laws that vary region by region or state by state.
I know, frustrating, right?
How To Find Out How Long They Hold Onto Items For
The length of time that a pawn shop is required to hold onto items before selling them will often vary on a State-by-State basis.
Now with that having been said, the cold hard truth is that you will still need to find out how long pawn shops hold onto things for and the best way to go about doing that is simply to ask one.
No, really, just ask. They won’t be mad at you or treat you poorly because of it. In fact, it’s a question that most pawn shops get all of the time and they have no problem answering this.
Now, in order to go ahead and do that you will want to go to Google and search for “Local Pawn Shops” and Google will return a list of pawn shops in your area along with their associated phone numbers.
Give them a call and be sure to ask…
The Two Questions You Need To Ask
Okay, so you know that the best way to find out how long the local pawn shop in your area have to hold onto items is for simply by giving them a call and asking – there is one major thing that you really do need to know as well.
In most states, the length of time that a pawn shop has to hold onto a “Pawn” versus a “Buy” are different.
That is to say that when a pawn shop makes someone a loan on an item they will often times have to hold onto the item for a longer period of of time than when they just outright buy the item from someone.
This is done for a lot of reasons, but mostly to afford someone who makes a loan against an item a fair amount of time to attempt to redeem the property before the pawnbroker can keep it.
That having been said, when a pawn broker “Buys” an item, it’s not uncommon for the length of time that they have to hold onto that buy before they can turn around a sell it to vary greatly.
In some states, pawnshops may only have to hold onto items for a few days before they can turn around and sell them but in other states it may not be uncommon for them to have to hold onto it for weeks or a month.
Because these rules are all regulated by state and local laws, you’ve really got to be sure that you ask pawn shops if there is a time difference between the two different types of transactions so that you aren’t caught off guard if you are trying to find something or buy something back from a pawn shop.
