- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Pawn shops - what am I missing?
Posted on 12/30/15 at 12:46 pm
Posted on 12/30/15 at 12:46 pm
Went into one today out of curiosity, just looking around. All the power tools, guns etc. were priced about 10% less than retail except they were old and beat to hell. Do they expect you to negotiate down 50%?
13
Posted on 12/30/15 at 12:47 pm to OldSouth
quote:
Pawn shops - what am I missing?
I thought this was going to be a better thread.
Posted on 12/30/15 at 12:47 pm to OldSouth
quote:
what am I missing?
not a damned thing
Posted on 12/30/15 at 12:48 pm to OldSouth
quote:
Do they expect you to negotiate down 50%?
Yes. Haven't you seen Pawn Stars?
Posted on 12/30/15 at 12:48 pm to OldSouth
Let me call a friend of mine and see what he says.
Posted on 12/30/15 at 12:51 pm to Jim Rockford
I have an expert on rating pawn shops, let me get back to you
Posted on 12/30/15 at 12:51 pm to OldSouth
Only people who can't show at Lowes go to pawns shops for tools. It's for the "buy here pay here" crowd.
Posted on 12/30/15 at 12:51 pm to OldSouth
three selling price dynamics in a pawn shop
1) what the item is worth
2) what the shop owner paid for it
3) how long it's been in the shop
the best deals I've gotten have been to offer to do a package deal
1) what the item is worth
2) what the shop owner paid for it
3) how long it's been in the shop
the best deals I've gotten have been to offer to do a package deal
Posted on 12/30/15 at 12:53 pm to OldSouth
They make their money off of high interest loans so they don't care if you buy or not which is why they force you to try and haggle.
Posted on 12/30/15 at 12:53 pm to OldSouth
They started raising the prices after the Pawn Stars epidemic. They list used stuff all over Craigslist for similar prices. I looked at a saw that was $199 brand new, and the pawn shop selling it on CL had it used for $179. Probably bought it for $40.
IMHO, they lose a lot of business that way
IMHO, they lose a lot of business that way
Posted on 12/30/15 at 12:55 pm to cgrand
quote:
three selling price dynamics in a pawn shop
1) what the item is worth
2) what the shop owner paid for it
3) how long it's been in the shop
the best deals I've gotten have been to offer to do a package deal
quote:
If you're ever looking to buy something from a Pawn America store you can tell how long the item has been out and how much the pawn shop has into the item by reading the tag. The date is always printed on the tag. You get a better deal on items that have been on the floor longer. They use a code so an employee can decide how much they can take off if the customer asks. So it goes like this, MARY LOUISE=M-1, A-2, R-3, Y-4 and so on till you get to E-0. So the code will read, YLEE or $45.00. Happy bargain shopping!
LINK
Posted on 12/30/15 at 12:58 pm to OldSouth
Make offer to pawn shop counter guy! Do your homework, etc. they usually only give 20-30%!of what something is worth to the pawner. I bought a nice Winchester model 1897 shotgun for half of what it was tagged. 
Posted on 12/30/15 at 1:00 pm to Hammertime
quote:
IMHO, they lose a lot of business that way
Not really. Pawn shops are in lower income parts of towns for a reason. Something like 80% of their revenue comes from high-interest loans. They only sell products people quit paying on and they usually buy it so cheap that they don't care if they sit on it for a while before marking it way down to get rid of it.
They also offer layaway and don't negotiate the price for those that use layaway. It's almost the Rent A Center model in that people don't care what they pay for it as long as they can pay so much at a time within what they can afford.
Pawn shops make money hand over fist and I have always said I would love to own one if I had the time.
Posted on 12/30/15 at 1:08 pm to stout
I usually subscribe to the lower cost, higher volume model....especially in cheap goods situations. Hell, that even works with car sales nowadays. Some of the most successful dealerships use that method. The pawn loans are a separate deal from selling outright like on CL
Posted on 12/30/15 at 1:09 pm to stout
My uncle owns a pretty large pawn shop and makes piles of money considering his line of work. Pawning shite is like selling your soul to the devil and any good owner will rape the willing who walk through those doors. That being said, there are great deals to be made if you k ow what your doing.
Posted on 12/30/15 at 1:27 pm to Hammertime
What if the guy behind the pawn counter has scarred knuckles?
Posted on 12/30/15 at 1:30 pm to Hammertime
you are confusing a retail sale with a pawned item sale
completely different cost basis and selling tactic
if the pawn shop model wasn't making money there would be no pawn shops
completely different cost basis and selling tactic
if the pawn shop model wasn't making money there would be no pawn shops
Posted on 12/30/15 at 1:37 pm to OldSouth
20 years ago you could get crazy deals on shotguns/rifles at pawn shops. Bought a few so I wouldn't have to use my nicer ones as much. Good quality - just some scratches and wear. They still work fine.
Posted on 12/30/15 at 1:44 pm to LSU1NSEC
Most of my guns come from there. Ppl buy them, hunt one season, need money and off it goes. My uncles personal gun collection is incredible.
Posted on 12/30/15 at 1:47 pm to OldSouth
I bought this yesterday at the Pawn Shop in Bayou Blue. Its a Dewalt DW735 and according to the serial # its a 2015 model. They had $350 firm on it, got it for $300 + tax. This planer brand new cost $549.99 and they NEVER go on sale so I think I got a good deal on it. I could post it for sale right now for $400 on Craigslist and have it sold before I go to bed tonight.
OTOH I was in there 3 weeks ago looking for the Crackhead Deal of the day and came across a nice little belt/disc sander combo. Asking price was $130, I asked the counter person whats the lowest she would go. She said $100. I showed her on my phone the price for a brand new one was $80 at Harbor Freight, same model and everything and she still wouldn't budge on the price.
Bottom line is you need to know what your looking at and the price before you buy anything a d be willing to haggle a little.
OTOH I was in there 3 weeks ago looking for the Crackhead Deal of the day and came across a nice little belt/disc sander combo. Asking price was $130, I asked the counter person whats the lowest she would go. She said $100. I showed her on my phone the price for a brand new one was $80 at Harbor Freight, same model and everything and she still wouldn't budge on the price.
Bottom line is you need to know what your looking at and the price before you buy anything a d be willing to haggle a little.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News