I'm seriously considering a 1911 pattern pistol if I have a moment of weakness, price, and availability at the same time. I'm thinking new but I occasionally stop in pawn shops just to see what's available. I notice that the few 1911 pattern pistols I've seen all appear to be priced at close to full NIB retail, as much as $100 above NIB street price. (I realize that asking price is more akin to dicker price than final price) I hope they find buyers, just not me. I assume they are banking on the aura of the 1911 to sell the pistols. CZs were not so oddly priced. What other firearms can push their price up just because?
Pawn shop foolishness re:1911
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HighVelocity
Member
One of the reasons (I think) that pawn shops can sell their guns high is that the majority of people that come in looking at guns aren't out comparing prices. They see it, they want it, the pawnbroker tells them what a good deal it is and they put it in layaway. They make a payment or two, never come back, their money is forfeit and the pawnshop puts it back out for sale.
BigRobT
Member
I bought a rifle and a shotgun from a pawn shop on an impulse buy. I have kicked myself in the butt ever since. What should have been under $600 turned out to be just over $800. I learned my lesson very well from that mistake. Before I go out and buy a gun anymore, I research prices. At least I'm armed with some decent info. And because of that, when I bought my NEW Taurus PT145 Millenium Pro last Monday, I THINK I got a deal. Other local prices were around $390. Web Prices showed $340+, I got mine for $296.
Albert Shear
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I'm not trying to make excuses for everyone in the business here, so that said:
Are the prices you saw NIB or on used guns?
In a pawn shop we have to be a jack of all trades and try to keep up with cuurent market market fluctuations in pricings on every merchandise category in the store. Jewelry, electronics, musical instruments, firearms, video games etc.....
You get the drift. A lot of times we work from memory when its busy. My store is 2500sqf of showroom. 3 floors of storage for in-pawn items and two jewelry safes. Our pawn tickets are for 4 months with a 15day grace period. That means what we loan on today would not come out for 4 1/2 months if the customer did not pay on it.
Whats the market for that item almost 5 months later, or if they have paid the interest every month and kept the loan revolving say for a year. Then they let it forfeit.
You want to loan a higher amount so you make more interest as a percentage, but you draw a line because if that item is forfeited your cost will be higher. A 2 edged sword.
Back to the jack of all trades. It is so hard to keep up with prices on 1,000 different items. New prices, used price, price you think it will sell for in your store, pawn shop blue book pricing from around the country. It gives me a headache. Everyone that comes in wants 50% off, new or used doesn't matter. Start high, work down. You can't put a low price on the tag and go up!
And when I order from a distrubitor, since its only a few at a time, I get the worst pricing. The big gun store in town that orders 5,000 guns gets the best pricing and thats where I buy my own personal guns. I can go there, by a handgun for less than I can order one at cost with the shipping in my own store!!!!!
Are the prices you saw NIB or on used guns?
In a pawn shop we have to be a jack of all trades and try to keep up with cuurent market market fluctuations in pricings on every merchandise category in the store. Jewelry, electronics, musical instruments, firearms, video games etc.....
You get the drift. A lot of times we work from memory when its busy. My store is 2500sqf of showroom. 3 floors of storage for in-pawn items and two jewelry safes. Our pawn tickets are for 4 months with a 15day grace period. That means what we loan on today would not come out for 4 1/2 months if the customer did not pay on it.
Whats the market for that item almost 5 months later, or if they have paid the interest every month and kept the loan revolving say for a year. Then they let it forfeit.
You want to loan a higher amount so you make more interest as a percentage, but you draw a line because if that item is forfeited your cost will be higher. A 2 edged sword.
Back to the jack of all trades. It is so hard to keep up with prices on 1,000 different items. New prices, used price, price you think it will sell for in your store, pawn shop blue book pricing from around the country. It gives me a headache. Everyone that comes in wants 50% off, new or used doesn't matter. Start high, work down. You can't put a low price on the tag and go up!
And when I order from a distrubitor, since its only a few at a time, I get the worst pricing. The big gun store in town that orders 5,000 guns gets the best pricing and thats where I buy my own personal guns. I can go there, by a handgun for less than I can order one at cost with the shipping in my own store!!!!!
qajaq59
Member
Two things are requires to buy anything in a pawn shop. The first is you better know what the item is worth before you walk in. And the 2nd is the strength to walk out without it if you think it is priced too high.
The 1st is easy enough to do, but the 2nd can be a real bear at times.
The 1st is easy enough to do, but the 2nd can be a real bear at times.
justsurvivingincalifornia
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All the Pawn shop I have ever been in here in california and nevada (Oakland, Sacramento and Reno) have vary high list prices on all their guns for sale. Well they have high list prices on every thing else they have for sale too. I look at the price as a starting point to bargaining from.
Model520Fan
Member
When you go to a pawn shop, YOU have to be the expert. If you aren't, just don't shop there unless you know that the owner will stand behind the functionality of his merchandise, which is generally an unreasonable expectation.
When I was young, I actually bought cameras at pawn shops. I always got a good deal, and never got screwed, but I knew what I was doing.
As many here will attest, one can still do well buying guns at a pawnshop, but you must remember that the owner cannot reasonably be expected to be an expert on everything he has in the shop.
When I was young, I actually bought cameras at pawn shops. I always got a good deal, and never got screwed, but I knew what I was doing.
As many here will attest, one can still do well buying guns at a pawnshop, but you must remember that the owner cannot reasonably be expected to be an expert on everything he has in the shop.
I have always done well buying at pawn shops, Because i think they often have already made the money on the item on the shelf. Most pawn shop owners are not gun people, they are money people. They do not know the fdifference between a black diamond model 12 and a plain jane model twelve and quite simply, most of the clientel that provides the inventory has no idea either.
Many who pawn stuff are fencing it, many who pawn it are substance abusers, and many others are just desperate for cash. May not be the answer some like, but it is true.
Any intelligent person would NEVER utilize the services of a loan agency that seeks 23-30 -40% in interest a MONTH!
As a contractor, I have had tools stolen several times, the only times i have ever recovered property has been by visiting pawn shops. My tools have been sitting on the shelves clearly marked with my companies Logo and yet the operators feign surprise when informed that they have stolen property on the shelf.
Many who pawn stuff are fencing it, many who pawn it are substance abusers, and many others are just desperate for cash. May not be the answer some like, but it is true.
Any intelligent person would NEVER utilize the services of a loan agency that seeks 23-30 -40% in interest a MONTH!
As a contractor, I have had tools stolen several times, the only times i have ever recovered property has been by visiting pawn shops. My tools have been sitting on the shelves clearly marked with my companies Logo and yet the operators feign surprise when informed that they have stolen property on the shelf.
I've a couple of clients that are pawn shops. We do payrolls, financial statements, taxes, etc. I can see they are not making much money on the books so they are welcome to charge what they can get. I'm sometimes surprised by what they think they can get.
BlackJack
Member
I've found our local pawn shops here in Florida a source of good gun buys, despite what the prices asked are. Yes, you have to go in knowing the value and condition of what you are looking at. Then you make your offer with cash on the barrel head, and you'll get a good deal more often than you'll be turned down.
Albert Shear
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- Jan 17, 2003
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I can't speak for any other shop or any other state, but in Va. every pawn shop must by law report daily every item that comes in witha complete description as well as who the pledgor was(they must have a valid picture ID). This info goes to your local law enforcement agency. We started a restitution/recovery fund using federal grant money about 8 years ago which allows local pawn shops to take in stolen merchandise with the fear of having it confiscated and no renumeration. Now, when we know or suspect an item is stolen, we call the detectives, they check the sheets against the items and the persons who pledged the items. If its confiscated we are restituted the money immediately from the fund and the victim has their items returned and the offender has the appropriate warrants filed against them. We do this for the city of Richmond,Va, Henrico Co, Hanover Co, Chesterfield Co, and Va.Commonwealth Univ.Police. Since starting the program we have helped make over 150 felony cases for the local area depts. From misd. thefts all the way capital murder. I for one am proud of the relationship we have with law enforcement, even to the extent that the Richmond,Va police dept awarded us the Outstanding Civilian Service award in 2000 for our help in clearing cases.Most of our customers, I would say 90% are good loyal customers who just work paycheck to paycheck. There are some who not the best of characters, thats life.
Do we make 30 or 40%, heck no! Its 10% a month on loans of $100. Most don't leave the item for more than a couple of months. After its all said and done, that barley covers the overhead. My Jewelers Block Ins. is almost $15,000.00 a year, state of the art alarm system, 2 TL30 safes, the best jewelry cases money can buy for safety, front gates/locks, safety glass, payroll for 8 good employees, a decent computer system and software was $10,000.00. Should I keep going? If I break even at the end of the year after we're all paid I'm happy.
I know there are A$##OL#s out there. They give shops like me a bad name too. Just realize that Sometimes that price might be high is because we made a mistake. We thought we had something better than what we really had. I always am willing to let a customer educate me. If done correctly! Don't come in like your the top dog of gun heaven and tell me how stupid I am. I'll just walk away. But, if you politley show me why I have the wrong price and how I might have confused this model with the other, then the price goes down, waayyy down for you.
Thanks for listening.
Al
Do we make 30 or 40%, heck no! Its 10% a month on loans of $100. Most don't leave the item for more than a couple of months. After its all said and done, that barley covers the overhead. My Jewelers Block Ins. is almost $15,000.00 a year, state of the art alarm system, 2 TL30 safes, the best jewelry cases money can buy for safety, front gates/locks, safety glass, payroll for 8 good employees, a decent computer system and software was $10,000.00. Should I keep going? If I break even at the end of the year after we're all paid I'm happy.
I know there are A$##OL#s out there. They give shops like me a bad name too. Just realize that Sometimes that price might be high is because we made a mistake. We thought we had something better than what we really had. I always am willing to let a customer educate me. If done correctly! Don't come in like your the top dog of gun heaven and tell me how stupid I am. I'll just walk away. But, if you politley show me why I have the wrong price and how I might have confused this model with the other, then the price goes down, waayyy down for you.
Thanks for listening.
Al
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