Pawning old tools has its benefits
No longer have use for one of your old tools? Wondering if the tools you have could fetch a fair price by selling it at your local pawnshop. Good tools hold their value well and usually sell for more in pawn shops than online and certainly more than a garage sale.
Secondhand tools from top brands are known to last for several years without problems and can still provide years of good use. Savvy buyers know this which is why we often buy and sell power tools here at Meriden Pawn. In fact, power tools such as drills and circular saws are often among the most sold items in pawnshops and many just like Meriden Pawn buy and sell them. New tools can be expensive, so if a used one can still be effective you can see why there’s a big market for cheaper, second-hand tools.
How much could you get?
How much a used tool can sell for depends on the brand, condition, demand and the time of year; for instance in the spring and summer tools will be easier to sell and in greater demand. Pawnshops might pay anywhere from $30-$200 for working power tools. Top brands such as Bosch, DeWalt and Stihl are likely to sell for more.
Pawnshops are more likely to take established brand names. They may accept lesser known brands if they are shown to work, but you may have a harder time selling those.
Increase the value
It’s a good idea to give your tool a good cleaning before handing it to the pawn shop. They may pay less if they have to take the time to clean it themselves. Cleaning it yourself improves the perception of value and will increase the sales price accordingly. This is true for any buyer too; if it’s clean they may pay more and so the pawnbroker might give you more for it.
Try to keep the tool in it’s original packaging. Of course the box or manual is not required for it to function but a more complete package will be easier to sell and warrant a higher price.
Sometimes tool parts go missing, people know this and although you may lose some value, it might not stop you selling it. Make sure to include any adaptors, drill bits and carry cases if you still have them.
Charge it up
Before you take your tool to the pawnshop make sure to charge the battery fully! If you take the tool to the shop and it doesn’t run, you can’t expect the shop assistant to know whether it works or not, so that may limit your chances of a sale, and waste your time.
To get a price for your second-hand tool, visit our Meriden Pawn Shop on 273 W Main St, Meriden, CT 06451.