Pawn Stars Honest Profit Or...........

You know they got a super bowl ring they're selling for $100,000- how long you guys think that has been sitting in the case.

 

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lol, man I hope not.

 

My understanding is it has been in there for quite some time. I guess it was pawned by the owner for several thousand and they never came back and got it. I think the asking price is tremendously higher than the pawn cost and the price is so high because it's a useful marketing item.

 

I bet you would get some major looks walking with that hunk of glass around your finger.

 

I relative of mine has one...and on the rare instances he wears it I'm sure he does. His looks like this:

 

being a huge Bears fan now I have to ask, Camaro, what's his name? I remember that 1985 team, they may have been one of the most dominant of all time.

 

I think is pretty conveinent them bringing there percentages up on the
Show like that, But when there experts say something worth $10,000
And they offer $1,500 there,s just something wrong with that, You dont
Have to be a genius to figure that out!!

 

Every show will be the same... Gold tooth fillings and 22-26" rims.

 

The reason this show keeps popping up is that it is one of a VERY small amount of shows that have EVER been on TV that address numismatics. It's not a popular subject. I'm sure a show here in my coin shop would get horrid ratings... but it would be really funny.

 

Definitely... I might pay $100k for that '85 Bears ring pictured if that was really the one given to Walter Payton!!!!

Ditka is a god!! Da Bears!!!!!!

 

That patriot one has like 2 karats of diamonds

 

He was the backup TE, #80 Tim Wrightman.

 

The few coins I have seen bought or not bought, involved bringing in an expert who knew about the rare coin or note, and gave a fair estimate. That is the way it should be. These pawn shop buyers are not competant as coin graders or valuers--but this does wonders for their credibility where I am sure that they did not call the expert in the past but gave the desperate seller 10 cents on the dollar as most pawn shops do. There was a case where a fellow came in with a one of a kind rare note, I think going back to the 1700's. Rick called the classic Americana expert in who said the item would bring big, big money at auction. Rick said he had to sell it to him because he had gone to all the trouble of bringing in the expert. I felt bad for the guy who was getting more money than he expected, but a lot less than the note was worth very likely. All of us have had the experience of the critical analysis or the hard-nosed buyer, who will not take no for an answer.

I would like to see a similar show addressing the selling of jewelry to several buyers in the trade. This is going on big time and I am sure the sellers of heirloom jewelry are not getting the right percentage of melt. I have seen the refiner's ads aimed at high volume coin and gold buyers, and I would like to see people get top dollar for their jewelry. You could do an undercover operation, checking out the full range of prices offered for jewelry at various shops. Of course, the pawn shops tend to offer a lot less than the coin shops.

 

The Whole Truth

I believe the majority of the viewers (myself included) would find a 500% profit repulsive, and viewing would probably be diminished. As an MBA who regularly "does the math" while viewing the show, I've yet to see 500% margins, but may have missed those shows. When I consider the current margins realized by credit card issuers who have relatively little inventory, or check cashing establishments, I believe the margins stated to be realized by that pawn shop are reasonable, and comparable to some identical business associates I've known.

 

What I don't understand here...is nobody is holding a gun to the head of the seller. People go into pawn shops to get quick cash for their item, they don't do it to get a good deal. They know they are going to get basically the lowest price for their item, but they will get cash today. That's the benefit. The sellers are willing to do that. That's how every pawn shop in the country works. This shop is on TV and that fact might make the seller slightly more willing to sell...but some of them still don't. Both sides know what they are doing and they agree on it, so whats the problem?

 

Most of the show is staged. Read the thread from the CU forum:

http://forums.collectors.com/messageview.cfm?catid=23&threadid=740284&highlight_key=y&keyword1=PAWN

 

Nice one. That nailed it for me. Here is a post form that forum.

"Evidence proves that this transaction on the show was completely staged. A) The woman claims the note was stuck in a bible (raw) for many years (supposedly surfacing for the first time when she brought it to the shop) B) This very note/serial number has been known in the census for years (in SLABBED form, no less), way before the pawn stars show was even conceived. And now, after the show has aired, it is back in a PCGS slab and for sale on Ray's website for 1495"

 

Yikes... You think they would cover their tracks a little better...

 

Pawn stars

I posted this picture in another thread. Remember when they bought the Coke machine and had it restored by the so-called expert? Here's the before and after pics. Those are two completely different Coke machines.

 

I guess being a low budget show, they couldn't afford someone to look after continuity.