All is well! I get loan of bank notes at present market value for house! We eat tonight!

On the flip side, pawn shops these days are a great place to shop. The quality of goods has improved greatly but the prices are still low.

Two reasons to use a pawn shop.

1)Don't want to bother finding a buyer.
2)Don't have time to find a buyer.

Try to sell on Craigslist or ebay. If you have a lot of crap do a flea market stall. And a little research online goes a long way.

FTFA:

The gold bull has been good for pawnbrokers. Some 60% of all pawn loans are made on jewelry.

Typo or opinion on the gold boom?

How is that opinion? If business has been good, then it's fact.

Farking While Farking: FTFA:

The gold bull has been good for pawnbrokers. Some 60% of all pawn loans are made on jewelry.

Typo or opinion on the gold boom?

I think he's referring to the bull market in gold prices.

Damn, you can't even trust PAWN SHOPS in this economy! What was once a savior of the working class has lowered itself to exploiting people. I'm so shocked...

wombatsrus: On the flip side, pawn shops these days are a great place to shop. The quality of goods has improved greatly but the prices are still low.

Apparently, you and I do not frequent the same pawn shops. Around here, all you have are rusty construction tools priced at three times what you'd pay for the same equipment brand new out of the box. Oh, and then there's the racks of used CDs for $15 each,cheap guitars marketed as "vintage instruments from the golden age of rock-n-roll!" that began life as $120 amp/guitar/pick/cable/strap package deals at WalMart but are tagged at $800.

Don't get fooled by the idea that pawn shops only exploit the desperate sellers. They also do their damndest to cheat anybody wanting to buy the stolen goods they're fencing.

DrippinBalls: Most (all?) pawn shop owners are shysters. It's fun to walk in, find a rusty beat-to-death Milwaukee or Makita power saw for $90, and offer $8 and a jar of piss.

I hear that. Stereo equipment and musical equipment too. It's funny to walk into one and see them selling crap for 90%+ of the brand new price.

I'm a amateur radio operator, the local pawn shop had a 2m/440 rig that I was somewhat interested in until I saw they were actually asking 120% of the retail price. Probably could have haggled them down to 75%, but it's just not worth it...

In case anybody doesn't know, those weird symbols on the price tag tell the owner what they have in the item. If you see one immediately offer half the asking price...

Benevolent Misanthrope: There's a reason pawn shops have such a reputation for being unscrupulous, usurious, lying, cheating, lower-than-whale-shiat assholes that prey on the desperate and the ignorant.

And ugly. Don't forget 'ugly.'

Look at the Pawn Stars guys. Odd how they go about buying stuff but can't find a time to buy a neck.

dforkus: DrippinBalls: Most (all?) pawn shop owners are shysters. It's fun to walk in, find a rusty beat-to-death Milwaukee or Makita power saw for $90, and offer $8 and a jar of piss.

I hear that. Stereo equipment and musical equipment too. It's funny to walk into one and see them selling crap for 90%+ of the brand new price.

I'm a amateur radio operator, the local pawn shop had a 2m/440 rig that I was somewhat interested in until I saw they were actually asking 120% of the retail price. Probably could have haggled them down to 75%, but it's just not worth it...

In case anybody doesn't know, those weird symbols on the price tag tell the owner what they have in the item. If you see one immediately offer half the asking price...

I haven't been in a pawn shop for years but the used to use the "Washington" code so they know what they paid. W=0, A=1, etc....

So people who walk into a pawn shop think they have the upper hand (hell, even footing for that matter) in the transaction? No wonder we're screwed as a country.

fark this guy, Besides, all the pawn shops that opened up here during the GOP's Great Recession have now closed. fark all of them, skeegin dirty bastards.

Why is it okay to make fun of bald people?

I mean, fat people can do something about it, bald people generally can't.

I guess midgets get made fun of too, and they can't help it.

tillerman35: wombatsrus: On the flip side, pawn shops these days are a great place to shop. The quality of goods has improved greatly but the prices are still low.

Apparently, you and I do not frequent the same pawn shops. Around here, all you have are rusty construction tools priced at three times what you'd pay for the same equipment brand new out of the box. Oh, and then there's the racks of used CDs for $15 each,cheap guitars marketed as "vintage instruments from the golden age of rock-n-roll!" that began life as $120 amp/guitar/pick/cable/strap package deals at WalMart but are tagged at $800.

Don't get fooled by the idea that pawn shops only exploit the desperate sellers. They also do their damndest to cheat anybody wanting to buy the stolen goods they're fencing.

That's because all that crap is a ruse, probably for tax evasion and money laundering purposes. Nobody goes to a pawn shop to buy or sell. As the article notes, most of their business is making loans, the people that go in aim to get that stuff back. If they don't, they'll probably hawk it on Ebay or craigslist, while putting a few token items up on the wall to make themselves seem like a legit business. Occasionally a crackhead might get his hands on something and will bring to the pawn/fence and get 20 bucks for something worth $300+. Most fences are probably e-fencing now though, so the pawns are mainly for loansharking. They don't want to deal with finding a buyer for your crappy family jewelry, they want the 20% interest you'll be paying to get grandma's anniversary ring back.

Not too many middle class semi-literate non-drug abusing people out there will bring their 19th century musket to a pawnshop for a legit appraisal. Certainly not enough to make a reality tv show about it.

tillerman35:
Apparently, you and I do not frequent the same pawn shops. Around here, all you have are rusty construction tools priced at three times what you'd pay for the same equipment brand new out of the box. Oh, and then there's the racks of used CDs for $15 each,cheap guitars marketed as "vintage instruments from the golden age of rock-n-roll!" that began life as $120 amp/guitar/pick/cable/strap package deals at WalMart but are tagged at $800.

Don't get fooled by the idea that pawn shops only exploit the desperate sellers. They also do their damndest to cheat anybody wanting to buy the stolen goods they're fencing.

The pawn shops I go do are in areas where they realize that folks have internet access and can quickly find out what something might be worth, therefore they price competitively.

Negotiation is always at play - I always assume that the initial or posted price is at least 5 times what they may have paid for it, and go from there. I don't want them to take a loss on the item, but I'll aim for a good price and see what happens. I've always gotten at least half off of what the initial price was.

Finally, it pays to be kind and pleasant, even when you cannot agree on price. When they find out that (a) you understand their business and (b) when you cannot agree it is just business and not personal, you get a lot more flexibility and discounts from them.

Yanks_RSJ: [i272.photobucket.com image 640x272]

Leaving satisfied...

mrshowrules: Fett56: Why is it okay to make fun of bald people?

I mean, fat people can do something about it, bald people generally can't.

I guess midgets get made fun of too, and they can't help it.

What if you are an overweight, bald midget?

you never get laid, that's what

Once I looked in a pawnshop when I needed to buy my favorite daughter a flute for school band/music class. The one place we looked had one in good condition and was told the price was $75. So I said I would take it and reached into my pocket to get my money out and pay for it and then the jerk at the counter goes "oh I have to look this up" and bring this ratty-ass catalog of prices and guidelines and then told me the price would be $325.

I told him to to keep it. A few months later they were out of business.

wildcardjack: Two reasons to use a pawn shop.

1)Don't want to bother finding a buyer.
2)Don't have time to find a buyer.

Try to sell on Craigslist or ebay. If you have a lot of crap do a flea market stall. And a little research online goes a long way.

Jeezus Christ, I came here to say the same thing. A pawn shop should be a last resort.

joepainter: dforkus: DrippinBalls: Most (all?) pawn shop owners are shysters. It's fun to walk in, find a rusty beat-to-death Milwaukee or Makita power saw for $90, and offer $8 and a jar of piss.

I hear that. Stereo equipment and musical equipment too. It's funny to walk into one and see them selling crap for 90%+ of the brand new price.

I'm a amateur radio operator, the local pawn shop had a 2m/440 rig that I was somewhat interested in until I saw they were actually asking 120% of the retail price. Probably could have haggled them down to 75%, but it's just not worth it...

In case anybody doesn't know, those weird symbols on the price tag tell the owner what they have in the item. If you see one immediately offer half the asking price...

I haven't been in a pawn shop for years but the used to use the "Washington" code so they know what they paid. W=0, A=1, etc....

"Seiko quartz" s=1... and "republican" r=1... are also codes in the Pawn industry. It can also mean what the lowest price can be.

I worked at the corporate office of a national pawn shop chain for many years. The ignorance here on FARK about the pawn shop industry is pretty amusing.

GanjSmokr: I worked at the corporate office of a national pawn shop chain for many years. The ignorance here on FARK about the pawn shop industry is pretty amusing.

Please enlighten us.


/Seriously: am curious

GanjSmokr: I worked at the corporate office of a national pawn shop chain for many years. The ignorance here on FARK about the pawn shop industry is pretty amusing.

Yeah wtf dude, you can't come in and drop that on us and not explain.

Fett56: GanjSmokr: I worked at the corporate office of a national pawn shop chain for many years. The ignorance here on FARK about the pawn shop industry is pretty amusing.

Yeah wtf dude, you can't come in and drop that on us and not explain.

He's really getting a kick out of all these replies...

I must be doing something wrong. The article says banks aren't lending, and people of a higher level of income and education than me are turning to pawn shops. The stupid banks are still sending me pre-approved apps all the time, and I don't think I've ever been in a pawn shop. And I don't make 50K a year even.

I still think "Pawn Star" is a lame show.

ScreamingHangover: GanjSmokr: I worked at the corporate office of a national pawn shop chain for many years. The ignorance here on FARK about the pawn shop industry is pretty amusing.

Please enlighten us.


/Seriously: am curious

you stuck your neck out here, Ganjsmokr - deliver the goods.

The fat, bald pawn store owner archetype

came for crow reference

/just made it

Fett56: Why is it okay to make fun of bald people?

I mean, fat people can do something about it, bald people generally can't.

I guess midgets get made fun of too, and they can't help it.

It is OK to make fun of everyone or no one.

Japanese pawn shops are actually pretty awesome, if you know what to look for. I picked up a beat up as hell case, guitar(sans strings), and a tiny amp for about 6000 Yen(60 bucks). Strings were new in case for about 250 yen a pack. The staff was pretty friendly, the store was clean, well lit, and damn near everything was pretty cheap. I moved the guitar into a travel bag, and put my bass in the case.

I think if I tried to find the same stuff for sale in the US, the asking price on the guitar alone would have been about 250, the case another 100, and the amp probably about 150.

I don't see why pawn shops have such a bad reputation. I've gone to a bunch of them and I've always been impressed.

Everything in the pawn shop is open for negotiation....if the sticker prices seem high it's because they probably are; that's your opportunity to make a lower offer. Don't buy something if you can't get it for the price you want.

I like pawn shops even more for selling. If you've ever had a yard sale or garage sale and spent hours sitting, waiting for people to make low-ball offers on your stuff; save yourself the headaches and go to a pawn shop. (At least, the local pawn shop near me). You come in, you haggle over each item, and you walk out, 10-15 minutes later with cash in your hand. And, they buy more stuff than I manage to sell.