The paper investigates retraining options and the performance of pre-trained Convolutional Neural Networks (CNNs) for sound classification. CNNs were initially designed for image classification and recognition, and, at a second phase, they extended towards sound classification. Transfer learning is a promising paradigm, retraining already trained networks upon different datasets. We selected three ‘Image’- and two ‘Sound’-trained CNNs, namely, GoogLeNet, SqueezeNet, ShuffleNet, VGGish, and YAMNet, and applied transfer learning. We explored the influence of key retraining parameters, including the optimizer, the mini-batch size, the learning rate, and the number of epochs, on the classification accuracy and the processing time needed in terms of sound preprocessing for the preparation of the scalograms and spectrograms as well as CNN training. The UrbanSound8K, ESC-10, and Air Compressor open sound datasets were employed. Using a two-fold criterion based on classification accuracy and time needed, we selected the ‘champion’ transfer-learning parameter combinations, discussed the consistency of the classification results, and explored possible benefits from fusing the classification estimations. The Sound CNNs achieved better classification accuracy, reaching an average of 96.4% for UrbanSound8K, 91.25% for ESC-10, and 100% for the Air Compressor dataset.