Tips on haggling a pawn shop.

Glad to hear Jason is doing well. He did start at the bottom, but did a great job adapting to what a pawn broker does. It was a good life lesson for him I'm sure.

 

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April Fool's joke in honor of Timmy....to keep his great threads on the front page.

 

having never paid asking price at apawn shop for anything i can say with no doubt that pawn shops do over price so when someone comes in and says ill give you $25 for a $30 item they can accept it (they will usually counter first) and the customer feels like they got a good deal since they were able to take a few bucks off the price and the dealer gets the price for it he is willing to accept. my father used to own a pawn shop and still knows lots of people in the business and this is how i was taught to buy stuff at them. i do the same thing when i sell items in local classifieds like craigslist and others. if i want $400 for something i will list it for 425-450, i will counter their offer to get the most $ out of them but in the end i will accept any price at or over my $400 want price. both people walk away happy feeling they got a good deal

 

My uncle owns a pawn shop so here,s some information on how they operate and this holds true on just about anything
They deal in including coins, here,s an example lets say there selling a Morgan dollar for $100 you can estimate that they
Paid only about $50 or half the actual asking price so as long as they can make 25% there happy with that so you
Could probably negotiate price between $75 and $85 depending on the establishment.

 

I find most pawnshop owners to be **********s. They want more money for used tools than Lowes does for it new.

If they want $100, they paid $20 not $50. they ain't happy with a 25% profit , more like 200%.

 

That's what I see around here too. I know you're supposed to haggle a bit, but at those starting prices, they're going to make you feel like you're taking food off their table for talking them down from $100 to $75 for an item that is probably worth less than $50.

To make things even worse, most of the pawn shops around here hardly ever have any coins. I've tried haggling on a few coins here and there with a couple different shops, but they just won't come down to a reasonable price. Maybe they can sell those to some sucker who is willing to pay top dollar for junk silver, but not me.

And even worse are their guns. I spoke with the owner of a pawn shop here about a 92FS he had in the case. He told me he knew the owner of this gun and that it had at most 50 rounds fired through it. I could see by the wear that it had at least several thousand rounds fired through it. I shook my head in amazement, handed it back to him, told him he's full of it, and I haven't set foot in that pawn shop since.

 

yea guns at apawn shop are a huge rip off, at a local one they wanted more for a used 10/22 then it is new because it came with 1 crappy 25 round eagle brand mag when my favorite local gun store offers a lifetime warranty with all new guns, which includes them paying for shipping if you need to ship the gun back to the factory which with a pistol can cost $50 or more

 

let me clarify, that would be a minimum of 25% and yes i would agree most pawn shop owners are over the top but this depends
On what city your shopping in not all of them are out to take you for everything you got!

 

Am I missing something?

If they paid $50 and they are happy with 25% markup they would accept $62.50. ($50 X 25% = $12.50. $50 + $12.50 = $62.50)

If they won't take less than $75 that represents a 50% markup. At $85 they have a 70% markup. $100 represents a 100% markup.

 

The 25% mentioned would be minimum as you stated but they would probably negotiate higher depending on who your dealing with
Some pawn shop,s are a little more honest on the way they do business