General Questions

What is Pawning?

Pawning offers a risk-free way to access quick cash by using your items of value as collateral. The pawn industry is statutorily regulated and controlled by the Indiana Department of Financial Institutions, for your protection.

Here’s How It Works: Bring in an item of value, and the CLS Pawn Stars will provide you with cash in exchange. Your item is held for an agreed period. If you’d like to reclaim it, simply repay the loan amount plus interest and a storage fee. If you decide not to retrieve it, there’s no obligation—it’s completely your choice!

Pawning is Flexible and Hassle-Free: No Debt or Credit Impact: Pawning doesn’t involve credit checks or create debt you’re required to repay. Accessible to Everyone: No income requirements, credit qualifications, or restrictions apply. Secure and Convenient: The process is fast, confidential, and designed for your peace of mind. In short, pawning is a simple, safe, and efficient option for short-term financial needs!

What do The CLS Pawn Stars do?

We provide loans against collateral, buy items outright, and sell pre-owned goods.

How does pawning work?

People bring items to The CLS Pawn Stars, the items are evaluated, a loan is received, items are reclaimed upon repayment.

You can estimate the value of your pawn here.

What items can I pawn or sell to The CLS Pawn Stars?

Jewelry, gold, silver, coins (silver and gold).

Electronics, Gaming Consoles.

Tools, power tools, and trade tools.

Musical Instruments.

Vehicles, boats, PWC, ATV’S and motorcycles (clear titles only) Collectibles-vinyl, comic books, toys.

Guns/Firearms (registered to you).

Sporting Goods.

Anything of value can be used as collateral for a loan.

The items can be new in box or gently used.

The condition of the item will determine the loan or buy value. Items must be clean!

What if I can’t repay my loan?

  1. Loss of the Pawned Item
  2. If you fail to repay the loan by the due date (including any interest or fees), 30 days plus 60 days grace; which can be extended continuing on a month-to-month basis with payment of interest and fees. If these terms are defaulted The CLS Pawn Stars will take ownership of your item.
  3. The pawnshop then has ownership and will sell the item.
  4. No Impact on Your Credit Score
  5. Unlike traditional loans, failing to repay a pawn loan does not affect your credit score because The CLS Pawn Stars do not report to credit bureaus.
  6. This means you won’t have collections agencies after you, but you will lose the loan collateral.
  7. The CLS Pawn Stars allows extensions or renewals if you pay the interest and fees.
  8. This can give you more time to repay and redeem your item.
  9. Remember, a pawn by design is to be a short term loan. Long term is NOT to your advantage!
  10. No Legal Action or Debt Collection
  11. Because pawn loans are secured by owned collateral, The CLS Pawn Stars do not take legal action or send debt collectors after you.

How do you determine the value of my item?

The CLS Pawn Stars have an evaluation process, we check market value, the item's condition, and the demand for each item.

Selling Items

Do you buy items outright?

The CLS Pawn Stars determine the value of an item a customer wants to sell outright based on several key factors.

Here’s how the process typically works:

1. Market Demand

  • The CLS Pawn Stars will assess how popular and in-demand the item is.
  • Items that sell quickly (e.g., gold, electronics, power tools, firearms, luxury watches) typically get better offers.

2. Condition of the Item

  • Items in excellent and CLEAN condition fetch higher offers.
  • If an item is damaged, missing parts, or heavily used, or unclean the offer will be lower or possibly rejected.

3. Brand and Authenticity

  • Well-known, reputable brands tend to be valued higher.
  • The CLS Pawn Stars will verify authenticity, especially for luxury items like designer handbags, watches, and jewelry.

4. Resale Value

  • CLS Pawn Stars base their offer on what they can reasonably sell the item for, NOT its original retail price.
  • The Stars will also consider how long it might take to sell.

5. Precious Metals and Gemstones

  • If the item contains gold, silver, or diamonds, its value will be assessed based on current market prices.
  • The CLS Pawn Stars will weigh gold or silver and with your permission test for purity using acid tests or electronic testers.

6. Reference to Online Pricing and Market Trends

  • CLS Pawn Stars check many online marketplaces like eBay, Craigslist, or specialized valuation databases to determine what similar items are selling for.
  • The Stars also consider wholesale prices rather than retail.

7. Risk for the Pawnshop

  • If an item is difficult to sell, has a limited market, or has a high risk of depreciation, the CLS Pawn Stars may offer a lower price.

If you're selling an item outright, it's a good idea to do some research yourself beforehand, clean the item, and bring any original packaging, accessories, or documentation to maximize your offer.

Do I need an appointment to sell items?

No, feel free to come in anytime during our posted business hours, and CLS Pawn Stars will happily help you out!

What should I bring with me when selling or pawning an item?

1. The Item You're Pawning or Selling

  • Ensure it is in good clean condition and fully functional.
  • Clean the item before taking it to the CLS Pawn Stars to make it look more appealing.

2. Any Accessories or Original Packaging

  • Bring anything that adds value to the item, such as:
  • Chargers (for electronics)
  • Cases, straps, or extra parts (for watches, tools, or firearms)
  • Remote controls (for TVs or gaming consoles)
  • Original box and user manual
  • Certificates of authenticity (for jewelry, luxury items, or collectibles)
  • Having all accessories can increase the pawn value and make your item easier to resell.

3. Valid Government-Issued ID

  • CLS Pawn Stars and State Law require identification to complete the transaction.
  • Acceptable IDs include valid:
  • Driver’s license
  • Passport
  • State ID
  • Military ID

4. Proof of Ownership (If Applicable)

  • While not always required, having proof of ownership can help:
  • Receipt or invoice from the original purchase.
  • Certificate of authenticity (for jewelry, designer goods, or collectibles).
  • Appraisal documents (for high-value jewelry or art).
  • Do not bring the CLS Pawn Stars stolen property! If you do, likely you will go to jail!

Bringing these items to the Stars ensures a smooth transaction and can help you get the best possible deal when pawning or selling your item.

Can I negotiate the price you offer?

You can always negotiate an offer. The more documentation you have of it’s value, the cleaner the item and having all accessories will help increase the amount you are offered. It’s better to come in with an idea of what you think your item is worth and what you are hoping to get for it. 

Store Policies

What forms of payment do you accept?

Repayment of Pawns have to be made by cash or debit card.

When purchasing from us, we accept cash, and all major credit cards and debit cards. 

Can I put items on layaway?

10% down, 10% a month payment for 10 months (no penalty for paying sooner). If no payments are made for 2-months, layaways will be terminated and lost.

Do you offer appraisals?

We will give you our verbal appraisal for your item(s) but do not offer written appraisals.

What are your store hours and location?

Lafayette:

1 SAGAMORE PKWY. N LAFAYETTE, IN

Hours: M-F: 10am-6pm Sat: 10am-5pm

Phone: (765) 449-8987

Kokomo:

501 S Reed Rd. Kokomo, IN 46901

Hours: M-F: 10am-6pm Sat: 10am-5pm

Phone: (765) 457-5445

Customer Assurance

Are items in your store authentic?

To assure customers our items are authentic, whenever possible The CLS Pawn Stars will provide proof of authenticity, use proper testing methods, and offer a guarantee or transparency in verification.

What should I do if I have questions about my pawned item or loan?

Please call or come into our store during business hours and the CLS Pawn Stars will be happy to assist you.

Lafayette: 317-449-8987

Kokomo: 765-457-5445

Do you offer any discounts or special promotions?

The CLS Pawn Stars will periodically have special events.

Please follow the Stars on Facebook or Instagram because we will post the events happening as well as special items every day!