Quote:
Originally Posted by dbphotos
The real answer is that not all pawn shops are created equally. In general a pawn shop will want to buy at a price point that will allow them to sell an item at 50% of list price and still make a profit. There are 2 ways that pawn shops receive merchandise; they buy it outright and they retain the item when the owner fails to pay the pawn loan as agreed to. Whether you can find good items at a pawn shop is largely based on geography. Las Vegas has some good pawn shops with quality products as well as some horrible pawn shops with junk.
Never sell an item to a pawn shop because you will get much less than if you sell it yourself to a private party. You can get some good deals if you are buying at a pawn shop if you know what you are looking for. Don't ever pay asking price for anything at a pawn shop. Remember they are in the business of selling products, not storing them. You will find some owners that want to hit a home run on every item they sell and they will keep their items in stock rather than give someone a good deal - stay away from these guys. If you offer 50% of the marked price for most items you are in the money unless it is a rare or highly sought after piece.
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Very well said.
and don't dismiss pawn shops as I have bought many Rolex watches from different pawn shops at great prices and all were 100% legit, many in like new condition.
