Pawn Shop refuse to haggle
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Tejas Gunwerks
Member
Pawn Shops usually don't buy merchandise. They give you a loan, using it a collateral. After 90 days, or whatever the time period is, they put if up for sale. In other words they have had dead merchandise sitting for the last 90 days. They should make money on the operation. If you don't want to pay their price walk. They are in business to make money, not to give you a good price. Yeah, its your money, but the next guys money is just as good as yours.
Cosmoline
Member
I've turned the tables on them more than once, but never by dickering. They will frequently misidentify rifles, sometimes rifles of significant value 
I remember getting a "Russian Moisin" from one shop for $100 that was actually a Finnish 28/30.
Exactly. I've seen the same massively overpriced rifles in shops year after year. They don't care. They're not making money from sales volume. They're just out to suck all the blood they can.
I remember getting a "Russian Moisin" from one shop for $100 that was actually a Finnish 28/30.Exactly. I've seen the same massively overpriced rifles in shops year after year. They don't care. They're not making money from sales volume. They're just out to suck all the blood they can.
Double Naught Spy
Sus Venator
This is a statement borne of some ignorance. Loans are a significant portion of pawnshop profits, but also a tremendous portion of pawnship risk and other overhead expense. Sales of out of pawn goods, used purchased goods, for many shops, NEW stock are extremely necessary portions of the business.
In understanding the pawn business, most folks completely fail to realize the concept of risk and overhead expense in the pawn business. The general person on the street just sees the pawn shops as making huge profits on pawned goods. This is a generalized and inaccurate stereotype along with such stereotypes as the merchandise in a pawnshop being stolen, pawnbrokers being crooked Jewish business folks. In Texas, pawn shops are regulated by the same state folks that regulate banks and audited yearly. Legal identification is required for loans and purchases and all such transactions are run through the police. Gun transactions add all the extra FFL paperwork and FFL audits are regular.
Overall, 60% income from loans is probably about correct for our stores, overall average, but that number is close enough to reflect the fact that we had periods of time where sales were the dominant income as a whole for the 4 stores, or part at individual stores, either for just a few months a year during a normal year or for several months at a stretch during good economic periods. Pawnshops are tied to the economic base and times of properity for the local population means less loans. We had shops in one big city, two suburbs, and one rural town and this meant some strikingly different trends concurrently. Less loans means less pulls to be put out for sale and this means less stock to sell which means less profit. So we supplimented our stock with varying amounts of new goods depending on the season, current trends, local area, and demand. Typical common new goods included jewelry, boom boxes, TVs (football season), musical instruments, and tools. For our stores at the time, these were consistent sellers. It was economically stupid to not have these items on the shelves because they would sell consistently, even if we had to turn to lower profit (and lower risk) new goods.
See
http://www.thehighroad.org/showthread.php?t=219119&highlight=pawn+shop
Also see insight on negotiating here...
http://www.thehighroad.org/showthread.php?t=157675&highlight=pawn+shop
Deanimator
Member
+1. I used to occasionally go into the pawn shops outside of Ft. Knox back in the early '80s. I never saw anything that could vaguely be called a deal. In most cases the guns were overpriced, the information on the tags was misleading, and the pawn shop people invariably lied to the gullible.
Aguila Blanca
Member
My brother is looking for a Jeep Wrangler to replace his rusting pickup. A few weeks ago he asked me to check on the going price for low-mileage Wranglers in a certain range of years. Prices, according to a friend and Jeep nut who works in a dealership, were running $6,000 to $8,500.
My brother was looking at a nice, clean unit with low mileage. Asking price was $5,500 ... below the LOWEST reasonable price for comparable vehicles in the area. Bro offered the guy $5,000. Six weeks later the guy hasn't called him back, and bro is still driving a rusted out pickup ...
My brother was looking at a nice, clean unit with low mileage. Asking price was $5,500 ... below the LOWEST reasonable price for comparable vehicles in the area. Bro offered the guy $5,000. Six weeks later the guy hasn't called him back, and bro is still driving a rusted out pickup ...
ScottsGT
Member
I only visit one pawn shop in my area. The helpful guy that does my FFL transfers for deals I find on the internet. He charges me $20, and we both smile at each other and say "Have a good day!"
All the other morons around town jack up the prices 50% over what they are worth, won't haggle, or there is a problem with the gun. When I knew NOTHING about M1 Carbines I visited a few local pawn shops and at the first crook, he handed me an Iver Johnson and a story about how it was a Korea bring back. Oh, did I mention that it had a broken receiver!
All the other morons around town jack up the prices 50% over what they are worth, won't haggle, or there is a problem with the gun. When I knew NOTHING about M1 Carbines I visited a few local pawn shops and at the first crook, he handed me an Iver Johnson and a story about how it was a Korea bring back. Oh, did I mention that it had a broken receiver!
EddieCoyle
Member
Pawn shops in Mass can't sell guns but I do frequent them for other things. I have a side business selling antique tools. Pawn shops can be a good source.
What I've found is that most shops do not know the true value of everything they have - especially for tools (but I'm guessing that the same goes for other "specialized" goods like firearms). Unless the owner happens to be an expert, you're going to see some strange pricing.
Nobody can know about everything. A shop owner may be able to appraise the value of any wristwatch, accurate to with $1, from 50' away, but the same guy may have no clue as to the value of a milsurp rifle or vintage Stanley plane.
What I've found - for vintage tools anyway - is that the prices are either way too high or way too low. If something worth $30 to me has a $100 price tag, I won't even bother to haggle. If something worth $1000 has the same $100 price tag, I'll pay the asking price and walk out.
The above scenario is not outlandish. I went to a local shop earlier this summer and there were some Stanley planes just put up for sale. All were priced at $100 each. I passed on the No. 4 and No. 5, but plunked down $100 each for the No. 2 and No. 1.
What I've found is that most shops do not know the true value of everything they have - especially for tools (but I'm guessing that the same goes for other "specialized" goods like firearms). Unless the owner happens to be an expert, you're going to see some strange pricing.
Nobody can know about everything. A shop owner may be able to appraise the value of any wristwatch, accurate to with $1, from 50' away, but the same guy may have no clue as to the value of a milsurp rifle or vintage Stanley plane.
What I've found - for vintage tools anyway - is that the prices are either way too high or way too low. If something worth $30 to me has a $100 price tag, I won't even bother to haggle. If something worth $1000 has the same $100 price tag, I'll pay the asking price and walk out.
The above scenario is not outlandish. I went to a local shop earlier this summer and there were some Stanley planes just put up for sale. All were priced at $100 each. I passed on the No. 4 and No. 5, but plunked down $100 each for the No. 2 and No. 1.
Did you like the GP100? Was $275 a good price? Was the guy nice enough when you asked him to lower his price with his refusal?
Here's a tip - if you answered "yes" to the above - buy it.
Don't take it personal - he knows/thinks he knows what he can get for it. It's HIS business. Why pass on something you think is worth it?
Here's a tip - if you answered "yes" to the above - buy it.
Don't take it personal - he knows/thinks he knows what he can get for it. It's HIS business. Why pass on something you think is worth it?
Waitone
Member
How do you know what the piece is worth? It is worth just exactly what a willing buyer and a willing seller say its worth. A blue book with give you a fair idea of similar transactions across the country but ultimately its is you and him. If he won't approach blue book value he is of the opinion he can get more by holding out for someone else to walk in the door. Nothing personal here, just bidness.
There's been alot of pawnshop bashing here. I've known some pawnshop owners that had overpriced items on their shelves. I've also known owners who loaned a guy too much on his old pistol because he knew the guy was going through hard times. That's where some of the overpriced stuff comes from.
I know there are some jerks out there, but not all.
I know there are some jerks out there, but not all.
I don't like pawn shops...
It just seems to me as though they prey on the weak, uneducated, and desperate. That said I do believe that they have a right to do business as they see fit as long as they are within the law. But I personally don’t patron these shops for all of the reasons that I, along with the majority of people here stated. That’s why when a friend of mine got into some trouble; he told me that he needed to sell his prize possession, a WWII vintage 1911. A few of the local dirt bags offered him a hundred or two, not even close to what he needed. So I “bought “it from him for $2k, and told him that if he gave me the money back (no interest) I would give him the gun back, less any transfer fees . Now, I know that I really over paid, but 2 years latter he shows up at my house with the cash, and we went to the gun store and he got his gun back (with a few more rounds through it ). As muck as I’ll miss that old Colt, it felt good to see it back where it belongs.
It just seems to me as though they prey on the weak, uneducated, and desperate. That said I do believe that they have a right to do business as they see fit as long as they are within the law. But I personally don’t patron these shops for all of the reasons that I, along with the majority of people here stated. That’s why when a friend of mine got into some trouble; he told me that he needed to sell his prize possession, a WWII vintage 1911. A few of the local dirt bags offered him a hundred or two, not even close to what he needed. So I “bought “it from him for $2k, and told him that if he gave me the money back (no interest) I would give him the gun back, less any transfer fees . Now, I know that I really over paid, but 2 years latter he shows up at my house with the cash, and we went to the gun store and he got his gun back (with a few more rounds through it
). As muck as I’ll miss that old Colt, it felt good to see it back where it belongs.Cosmoline
Member
All I know is I have yet to see one of them go out of business, even in the sections of Spenard and the Valley where everyone else is belly up. Some of them are friendly, but make no mistake they're all sharks. That doesn't mean they're evil, but it does mean you can lose your feet if your'e not careful.
Pawnshops do cater to the desperate among us. That is because those who are desperate really have no place else to go to borrow money. There credit rating is so low they are not going to get credit anywhere else. IMO, pawnshops provide a service to their customer base. If their customer base did not feel it was worth it, they would go elsewhere.
Used to be that pawnshops had better deals on used stuff. But eBay and other Internet sources, plus better information on what used stuff is actually worth has reduced the available deals.
In most cases if you are desperate enough to need to pawn something, you are probably better off just selling it. You will get more for it, and chances are if you are that desperate you might not be able to redeem it.
Used to be that pawnshops had better deals on used stuff. But eBay and other Internet sources, plus better information on what used stuff is actually worth has reduced the available deals.
In most cases if you are desperate enough to need to pawn something, you are probably better off just selling it. You will get more for it, and chances are if you are that desperate you might not be able to redeem it.
Hawk
Member
I occasionally make the rounds just to see if anything has changed and it never has: prices on used stuff double the gun stores. Prices on new generally 50% higher.
But the excursion is generally pleasant. Not so this last time.
In the depths of Arlington, off my usual route, I found a pawn shop that is the mother of all stereotypes. You could almost feel the depression and desperation. Fortunately, it was adjacent to a "gentlemen's club" and I think the staff was fungible. The scenery was very pleasant and no doubt would take one's mind off the prices if one was younger.
Hi-Point C9: 399.00 and no hint of remorse. (I think used, to boot).
Singer 1911: 1,200.00 But wait - it was stripped and chromed. Port lowered via Dremel (hand held, eye guided), dog-barf grips the list of atrocities goes on. I offered 300.00 just to end the torture. Nope, 1200.00. Actually, I'm a little fuzzy on the details, might have been Union Signal and 1,500.00 - hard to see through the tears.
Jennings .25, pink grips, peeling plating: 249.00
Sad.
But the excursion is generally pleasant. Not so this last time.
In the depths of Arlington, off my usual route, I found a pawn shop that is the mother of all stereotypes. You could almost feel the depression and desperation. Fortunately, it was adjacent to a "gentlemen's club" and I think the staff was fungible. The scenery was very pleasant and no doubt would take one's mind off the prices if one was younger.
Hi-Point C9: 399.00 and no hint of remorse. (I think used, to boot).
Singer 1911: 1,200.00 But wait - it was stripped and chromed. Port lowered via Dremel (hand held, eye guided), dog-barf grips the list of atrocities goes on. I offered 300.00 just to end the torture. Nope, 1200.00. Actually, I'm a little fuzzy on the details, might have been Union Signal and 1,500.00 - hard to see through the tears.
Jennings .25, pink grips, peeling plating: 249.00
Sad.
50caliber123
Member
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I go to only one pawnshop, having had bad experiences at the others. They are very good, offer good products, and great prices. They even give me gun advice from time to time, on their own products. Most of my rifles are from they're store, and they all happen to be the most reliable firearms I own.
Nathanael_Greene
Member
I have to admit, I'm a pawn shop junkie, and I've found some really good bargains in them, too.
Maybe they squeeze the downtrodden a little hard, but let's face it, nobody puts a gun to anybody's head to go into one. And as someone mentioned, they're a "lender of last resort" for those who really have no alternatives.
Which is better for someone with terrible credit--a high-interest-rate loan that they can get right now, or a low-interest-rate loan that they can't ever get?
As far as guns go, a lot of shops are simply insane with their prices ($600 for an Argentine Hi-Power copy?), but all I do is shake my head and move on.
And every now and then, a bargain pops up, and it makes it all worthwhile.
Maybe they squeeze the downtrodden a little hard, but let's face it, nobody puts a gun to anybody's head to go into one. And as someone mentioned, they're a "lender of last resort" for those who really have no alternatives.
Which is better for someone with terrible credit--a high-interest-rate loan that they can get right now, or a low-interest-rate loan that they can't ever get?
As far as guns go, a lot of shops are simply insane with their prices ($600 for an Argentine Hi-Power copy?), but all I do is shake my head and move on.
And every now and then, a bargain pops up, and it makes it all worthwhile.
I have visited pawn shops a few times. They are overpriced on some stuff and under priced on other stuff. You have to know what you are buying and about what it is worth to you. I have a couple of S&W revolvers that work fine that I got for a reasonable amount. I didn't want to pay the new price and I got these for half or less. I have seen other guns for very high prices. I just ignore that stuff.
On the other side, I have seen more overpriced guns at gun shows than I have ever seen at Pawn Shops. It is unreal what some people ask for some guns. There were two tables at a show last month selling HK .308 mags for $20 or more. Another table up front had them for 5 bucks. Used 5.45 mags were the same. Not having a real broad knowledge of guns, I generally stick with guns I know a little about. If I don't know, I generally will buy new since I have a better idea of what I am getting. It is easier to compare prices that way.
On the other side, I have seen more overpriced guns at gun shows than I have ever seen at Pawn Shops. It is unreal what some people ask for some guns. There were two tables at a show last month selling HK .308 mags for $20 or more. Another table up front had them for 5 bucks. Used 5.45 mags were the same. Not having a real broad knowledge of guns, I generally stick with guns I know a little about. If I don't know, I generally will buy new since I have a better idea of what I am getting. It is easier to compare prices that way.
ScottsGT
Member
Not true, I too have bashed a few here, but I would not paint them all with a broad stroke of the paintbrush. The best deal I got on a gun was from a pawn broker that attended all the gun shows in town. He was recently killed during an early morning hold up. It was posted here on THR. I got my Ruger Vaquero for $50 less than all the local dealers, even after I asked the dealer if he would drop his price only $25
Pawn shops
You have to realise that they have heard every sad story,lie,and bullsh** con known to man,no wonder some of them have developed a hard shell about their trade.
That said some of my best frienda own pawn shops,annd if they can help you they will.The problem arises when people try to tell other people how to run their business.You may know what it is worth to you,but most of the time,they know very well what it will really bring them.
If you try to trade a used gun in on a new gun,it is the same as the pawn shop buying your gun and taking the diffrence in as much cash as they can get.
They have to make a living and most of them do make a GOOD living.
One owner told me once that he liked to make friends,but he needed to also make money.
Just the way I see it.
992
You have to realise that they have heard every sad story,lie,and bullsh** con known to man,no wonder some of them have developed a hard shell about their trade.
That said some of my best frienda own pawn shops,annd if they can help you they will.The problem arises when people try to tell other people how to run their business.You may know what it is worth to you,but most of the time,they know very well what it will really bring them.
If you try to trade a used gun in on a new gun,it is the same as the pawn shop buying your gun and taking the diffrence in as much cash as they can get.
They have to make a living and most of them do make a GOOD living.
One owner told me once that he liked to make friends,but he needed to also make money.
Just the way I see it.
992
I wonder what the interest rate is on pawned items at this time. Many years ago it was 10% a month. In other words, if you borrowed $100 on an item you owed them $10 a month interest until you paid the $100 off. I made the mistake of pawning a pump shotgun once. I was very poor, the shotgun was a gift from my aunt. I missed one month's interest payment and when I went in to make it up they had sold the shotgun.
Tejas Gunwerks
Member
I bought 290 firearms from a pawn shop at $38.50 each. I had to take the bad with the good, even so the worst I could sell for at least $38.50.
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