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(Reuters)   Pawnshops take wine as collateral from wealthy clients. It's of case of syrah, syrah   (reuters.com) divider line 26
    More: Interesting, liquid assets, Bordeaux, Chief Executive Paul Aitken  
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530 clicks; posted to Business » on 24 Feb 2012 at 1:17 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



26 Comments   (+0 »)
   
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2012-02-24 09:31:36 AM
You do what you gotta do when you're over a barrel.
 
2012-02-24 09:43:06 AM
I'm grenaching my teeth over that pun.
 
2012-02-24 09:50:41 AM

God Is My Co-Pirate: I'm grenaching my teeth over that pun.


It's tokay, it could've been worse.
 
2012-02-24 10:01:29 AM

RexTalionis: God Is My Co-Pirate: I'm grenaching my teeth over that pun.

It's tokay, it could've been worse.


It just sounds like sour grapes.
 
2012-02-24 10:05:14 AM

I_Am_Weasel: RexTalionis: God Is My Co-Pirate: I'm grenaching my teeth over that pun.

It's tokay, it could've been worse.

It just sounds like sour grapes.


It shiraz.
 
2012-02-24 10:56:22 AM

RexTalionis: I_Am_Weasel: RexTalionis: God Is My Co-Pirate: I'm grenaching my teeth over that pun.

It's tokay, it could've been worse.

It just sounds like sour grapes.

It shiraz.


That was just a zin
 
2012-02-24 10:59:44 AM

MaudlinMutantMollusk: RexTalionis: I_Am_Weasel: RexTalionis: God Is My Co-Pirate: I'm grenaching my teeth over that pun.

It's tokay, it could've been worse.

It just sounds like sour grapes.

It shiraz.

That was just a zin


Such a pun, it Bordeaux on obscenity, no?
 
2012-02-24 01:31:38 PM
I got a buddy who is an expert on wine and he says the collection is worth $7,000. Keep in mind, that's retail. I got overhead, have to keep it on the shelves and to be honest with you the wine business isn't exactly booming in this economy. I don't have people coming in everyday looking for Syrah.
Look, don't tell the old man, but I'll give you 50 bucks, final offer.

americollector.com
 
2012-02-24 01:54:28 PM
This news is sure to send a Ripple through the oenophile community.
 
2012-02-24 02:05:26 PM

jst3p: I got a buddy who is an expert on wine and he says the collection is worth $7,000. Keep in mind, that's retail. I got overhead, have to keep it on the shelves and to be honest with you the wine business isn't exactly booming in this economy. I don't have people coming in everyday looking for Syrah.
Look, don't tell the old man, but I'll give you 50 bucks, final offer.


Now that I know the wine is real, I definitely want it, but only if I can get it at the right price.
 
2012-02-24 02:13:27 PM

jst3p: I got a buddy who is an expert on wine and he says the collection is worth $7,000. Keep in mind, that's retail. I got overhead, have to keep it on the shelves and to be honest with you the wine business isn't exactly booming in this economy. I don't have people coming in everyday looking for Syrah.
Look, don't tell the old man, but I'll give you 50 bucks, final offer.

[americollector.com image 400x323]


*snerk*

Heh.
 
2012-02-24 02:58:37 PM
trying to come up with a pun, drawing a blanc.
 
2012-02-24 03:23:35 PM
It seems like the state liquor authorities might have an issue with this if the loan is defaulted on and they try selling it in the store.

Liquor license can be quite expensive in some states as are the regulations on what you sell, when you sell, who you sell to, what else you sell in the store
 
2012-02-24 04:07:36 PM
Chickens. Roost.

LOL.
 
2012-02-24 05:16:31 PM
A lot of gallo's humor in this thread.
 
2012-02-24 05:45:01 PM

jst3p: Look, don't tell the old man, but I'll give you 50 bucks, final offer.


Well, I came in here hoping to get $35,000, and I paid way more than that... and your friend just said it was worth $7,000...

... can you gimme sixty bucks?

< in the parking lot >

Well, it was worth a lot more, but at least fifty bucks gets me two buffets and a few hands of blackjack... I'm happy.
 
2012-02-24 06:31:28 PM

jst3p: Look, don't tell the old man, but I'll give you 50 bucks, final offer.


I don't know. That's kind of low. Can you gimme, like, $500?
 
2012-02-24 06:54:10 PM

UseUrHeadFred: jst3p: Look, don't tell the old man, but I'll give you 50 bucks, final offer.

I don't know. That's kind of low. Can you gimme, like, $500?


*laughter that betrays decades of chain smoking*
 
2012-02-24 08:09:10 PM

Happy Hours: It seems like the state liquor authorities might have an issue with this if the loan is defaulted on and they try selling it in the store.

Liquor license can be quite expensive in some states as are the regulations on what you sell, when you sell, who you sell to, what else you sell in the store


Sounds like from the article they'd send it to an auction house since that's where most premium vintage wine is sold.
 
2012-02-24 10:32:04 PM
"You'd be amazed by how many wealthy individuals have terrible credit ratings," said Jordan Tabach-Bank, head of Beverly Loan Co. in Beverly Hills, California.

No, no I wouldn't.
 
2012-02-24 11:18:40 PM
So......I have a 1970 Dom Perignon in the box. Pawnstars?
 
2012-02-25 12:07:50 AM

Intoxoman: So......I have a 1970 Dom Perignon in the box. Pawnstars?


Most collectors don't like it separated from the case. In reality there are lots of people who have it in a single box but...

I just don't know if I can move it, it's nice, and pretty rare, but that's the problem, it's a pretty small market, I mean sure you could sell it at auction but there are commissions, listing fees etc. And see this label? It's dog eared, I'm going to have to get Corey and Chumlee to take it over to Rick and get that fixed, and that cuts into my bottom line.

I'm taking a shot here, but $12. Any more and I just can't do it.
 
2012-02-25 02:20:33 AM
So the pawn shops have finally concord the wealthy too.
 
2012-02-25 09:42:58 AM
I get that some people need a rock right now, but why do the people with genuinely valuable stuff go on Pawn Stars? Has no one heard of eBay, Craigslist, or auction houses? Is it worth being on TV that you lose a lot of money on a bad business deal?
 
2012-02-25 10:28:38 AM

JonZoidberg: I get that some people need a rock right now, but why do the people with genuinely valuable stuff go on Pawn Stars? Has no one heard of eBay, Craigslist, or auction houses? Is it worth being on TV that you lose a lot of money on a bad business deal?


I believe most people who use pawn shops intend for them to hold onto an item of value until they can buy it back. It's like putting collateral up for a loan but that collateral is up front. Otherwise they're just morons and need cash NOW!
 
2012-02-25 01:28:24 PM

Plant Rights Activist: JonZoidberg: I get that some people need a rock right now, but why do the people with genuinely valuable stuff go on Pawn Stars? Has no one heard of eBay, Craigslist, or auction houses? Is it worth being on TV that you lose a lot of money on a bad business deal?

I believe most people who use pawn shops intend for them to hold onto an item of value until they can buy it back. It's like putting collateral up for a loan but that collateral is up front. Otherwise they're just morons and need cash NOW!


I don't have the channel here, so I haven't seen many episodes, but I've only seen someone pawn something once with the intention of returning for it. I think it was his semi truck. The rest of the time they sell the item, and if they had a little patience they could have probably gotten a much bigger percentage of the value.
 
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