Tips on haggling a pawn shop.

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Every shop is different in the way it is managed. Owner/managed shops will do anything the owner finds best for his wallet. Managers that work for the owner of the business have rules. I have been training these type of managers for the past 30 years. We train our managers to look at all options that make money. The manager will welcome any offer as a starting point and make a counter offer on low ball offers. If no offer is made, the employee or manager will offer a discount to move the item.

With that said, $30 is not a big deal to any shop. They don't wish to spend a lot of time for a deal of this size. Make a friendly offer of $20 or $25 and see what happens. Don't get mad and burn a bridge over just a price. There may be something really cool at that same shop, next week.

 

I'm thankful for the 1/2 price bin at my local coin store. there was the same thing as that coin in there for $13.50 ($27 was the old price) an an unopened 1964 proof set for $24.50.

 

Very true.

 

Well I went in there today, and brought my 1950-D au-50 franklin with.

$30 was the price, and she would not go any lower, claiming "I can get $38 out of it on eBay!"

Then I showed her my half dollar "I can get $12 out of it, all I can give you is six.

It ****ed me off, but I kept to myself about it.

She really seemed to have "I don't care about you, all I care about is money" attitude.

I told her $20 was the price in my book, and she still didn't budge.

Oh well. I ain't gonna beat myself up over it. I can get the same thing on the bay for $20.

 

Hey, at least you found out where NOT to buy your coins. Hope you get the coin you want on ebay. :smile TC

 

Very interesting. I just got off the phone with a local pawnshop. He is going to open up the shop an hour early for me tommorrow to check out their coin selection. The guy said he had around 500 coins, and that they were all loose. It was clear that he had no idea what he was dealing with. I'll update you guys with the results. (sorry to hi-jack thread).

 

Yeah, I have had similar luck with pawn shops in the past. I don't really try there anymore, even when I was buying US coins.

Think of it this way, knowing where to NOT buy coins is about as valuable as where TO buy them.

Detecto, I believe you will find in coin collecting half the battle is knowing where to buy. For my field its even more so, but when I bought US coins I always had half my purchases from just a few dealers. I keep going back because they treated me fair, were knowledgable, and good to get along with. A good dealer earns his money and makes your collecting more enjoyable. Do yourself a favor and start going to some local shows and start to know local dealers. I am sure you will benefit by this.

 

Make an offer, then walk out when he comes back too high. In my experience pawn shops sell at retail ++,, then negotiate back to retail +.........

 

I'm kind of confused. Dealer sets a price based on eBay. You set a lower price based on eBay. Dealer is wrong. What's the difference?

Seriously, why would you be upset ("It ****ed me off, but I kept to myself") about it when a retailer does not give you the price you think you should be paying? Or not give you what you want for what you're selling? Do your research, and if the price isn't right, move on to the next deal. Haggle all you want, that's part of the regimen at pawn shops and flea markets. The proprieters actually expect you to haggle a little. But why get mad because it doesn't go your way? Why should she care about you ("She really seemed to have "I don't care about you, all I care about is money" attitude.") when she is in business to make money. Isn't that why we all go to work?

 

The 1950-D in AU run about $12 to $14. About the price of silver.
I would have thought the shop would have taken a quick offer of $25 on the proof.
That tells me the shop knew someone would walk in and pay the $30.

 

One of the pawn shops I go to uses the grey sheet. I hate when they treat them guides like the price it cut in stone or something. Heck, just offer him $24 and see what happens.

 

Are you sure fretboard?

 

Try this then, works for me most of the time. Offer him the price you want when the seller is about to close his shop. Sometimes they don't have much sales and they just grab any prize a buyer would offer if it's above the prize they bought the coin.

 

Unless it is a PR70, there are flaws on proof coins.
Proof 70 Franklins are practically nonexistent, so I'd venture to say most Franklin proofs have flaws.
But I digress...
Best way is to offer $20 or so and work your way up to a fair figure.
If the pawn broker goes for it, all is well, otherwise there are always more coins.
Absolutely no reason to overpay, IMO.

 

So, How did it work out at the pawn shop ?

 

Yes, inquiring minds want to know.

 

Since JCB is no longer an active member of the forum, and I still speak with him, I'll tell you guys. He did good at the pawn shop. Actually, got a job there selling there and has advertised and sold a bunch of stuff to some forum members here from the shop.

He was working and going to School and finally got into the world of real estate. And quit working at the pawn shop and now sells houses.

BTW Doug, why the bump a year after?

 

Just say, all I got is $25. Will you sell it to me for $25 out the door? When you buy something at a pawn shop they will usually leave some haggle room if the item costs more' but it's a low cost item you're talking about so it's hard to say. It depends how long he's had it for sale and what kind of mood you catch him in really. Do yourself a favor and don't mention ebay. Just be up front and make your offer, then take it from there. The bottom line is he has most likely already made some money off the item so it's all up to your approach.

 

Perhaps Tim (Detecto) should talk to him.