Items You Can Pawn to Help You During the COVID-19 Pandemic
With more and more businesses shutting down due to the pandemic, COVID-19 has left many people jobless. As of today, over 27.3 million Filipinos or nearly half of the country’s workforce have been unemployed or lost their jobs. While some may have been fortunate enough to seek help from banks and credit unions, others have fallen on the short end of the stick.
Given the demands of the health crisis, people are on the search for more sources of income. Apart from picking up side hustles and part-time jobs, many have depended on pawning to solve their financial woes. In the case of the jobless, pawning their pre-loved belongings has given them flexibility with bills, debt, and other financial obligations.
According to the Bangko Sentral ng Pilipinas, over 72% of Filipinos rely on pawnshops to pay bills and send remittances. In fact, pawnshops played a vital role during the pandemic, offering accessible loans and financial services to many Filipinos and local businesses, especially during the lockdown.
If you require financial assistance during this period, then pawning your valuable items is an excellent alternative to selling them or applying for a bank loan. To ensure your transaction goes smoothly, this graphic will discuss the ten best things you can pawn.
Items You can Pawn to Help You during the COVID-19 Pandemic
Haven’t been using your camera lately? During these uncertain times, you should consider pawning it. Content creators have been very active lately, and many are looking to buy a camera to film vlogs and other shorts. If you have a Canon, GoPro, or Nikon camera just sitting on your desk, take advantage of the demand and pawn it for a decent amount.
Designer bags are one of the few luxury investments that pay off. Collectors highly seek them, and their value steadily increases through time. If you have some vintage or limited edition pieces tucked in your dresser, you’ll be glad to know that many people would love to take them for a price.
Pawning designer bags from brands like Gucci, Louis Vuitton, or Michael Kors will give you reasonable returns. Pandemic or not, brand loyalists are always on the lookout to add to their shoulder or messenger bag collection. As long as they’re free from stains and damages, you’ll be able to pawn yours for a good sum.
If you have Pandora bracelets and other kinds of jewelry tucked in your drawer, you can earn a fortune by pawning them. Gemstones, gold, and diamonds (with a GIA certificate) have great value, and any pawnbroker would happily buy them from you.
With schools and offices closed for the time being, students and employees have been forced to work from home. Considering the risks that come with public exposure, many have taken the time to set up a dedicated workstation. If you have an extra laptop at home, you’ll have an easy time pawning it since they’re greatly in demand.
All pawnbrokers will give you a decent sum for a fully functioning laptop. Brands such as Apple, Dell, and MSI are known for their high-performance capabilities, so you can pawn them with ease. Just make sure to reformat your device before pawning to avoid any privacy issues.
Note: Letting go of your Mac soon? Whether you’re giving it away or planning to have it pawned, this guide will discuss the seven things you need to do before you turn over your laptop.
Just like designer bags, luxury watches are greatly desired by collectors. Prices may fluctuate depending on fashion trends and the brand’s current market image, but its price steadily increases in the long run. If you have a well-maintained Rolex, Michael Kors, or Patek Philippe watch, you can easily have it pawned for a good amount.
Smartphones and Tablets
Pawnshops are always on the lookout for high-end electronics, so it’s no surprise that smartphones and tablets can be pawned easily. If your unit is brand-new or an older model, you can have it exchanged for a reasonable price.
When it comes to pawning gadgets, newer is better. Trendy smartphones such as the iPhone11 or Samsung Galaxy S20 are highly pawnable because of their novelty and functions, but their value may heavily depreciate in five years. Pawn your gadget along with its charger cord, earphone, and other accessories to maximize your transaction.
Other than smartphones or laptops, LED and LCD TVs can also be pawned for a high amount. If you prefer watching Netflix on your phone or laptop anyway, consider pawning your TV for additional cash.
Video Games and Consoles
Now that people are staying indoors more, gaming is at an all-time high. Instead of going outside to see friends, many have decided to play online games as their primary means of socializing. Ultimately, this has caused a significant surge in demand for video games and consoles.
However, if you’re barely using your Nintendo Switch or PS4, try getting an estimate from a pawnbroker and have it pawned instead. Many frugal gamers would love to get a console for a lower price, so you can have your device pawned in no time.
For Your Cash Needs, There’s Pawnhero
It’s no secret that the past few months have been tough for many. While some were lucky enough to continue working, others have lost their jobs and struggled to stay afloat. In the worst-case scenario that you are laid off or if you simply need extra cash to settle payments, you can always rely on pawnshops for assistance.
If you’re looking for a reliable partner to transact with, we’ve got you covered! As a premier pawnshop in the Philippines, we’ll be happy to give you a free estimate on your items.