I always wondered how a pawnbroker makes money. There aren't many around my county anymore but back in the day I used to see people going in and out selling shit but no one ever buying anything. I guess nowadays they have ways of unloading merchandise on Ebay and Amazon. How did they ever survive and pay rent in the past before the online community?
some sell ( tools esp.) at swapmeets. Most stuff is very close to new retail on sale. They have plenty of room for profit. I think the most pawned item is gold jewelry which can always be sold for melt value. They aren't hurting ! Bad times are good for pawnshops.
as George Jefferson said..... " Banks aren't for people that need money, that's what pawnshops are for ! "
as George Jefferson said..... " Banks aren't for people that need money, that's what pawnshops are for ! "
I'd guess they sell bulk lots of stuff ( at a reasonable price) to select vendors at a "discount". Maybe a near new $100 cordless drill pawns for $20-25, they want $85 for it. I'd pay the $100 at HD instead. When they get overstocked the 3-baller might sell SHIT like that to a volume buyer for $40-50 ( doubling their money). Then that guy might get $60-65, when he paid $40.
Aal-jays ( sp?) in Vegas does a lot of tools and sells at Broadacres in Northtown. Forget about a deal in the shop....just go to Lowe's.
It's different with the bread and butter items like scrap gold and silver coins ! Most jewelry is only worth its' scrap value, IMO. Who wants your wedding band from your 1st marriage ? I'd love to get into this business ! They have you by the balls and they know it. Crackheads will sell cheap. Something like common silver coins are untraceable, pay the crackhead half price or less, PO-Lice will never be able to identify it as stolen property. This game is as dirty as Gambling.
Aal-jays ( sp?) in Vegas does a lot of tools and sells at Broadacres in Northtown. Forget about a deal in the shop....just go to Lowe's.
It's different with the bread and butter items like scrap gold and silver coins ! Most jewelry is only worth its' scrap value, IMO. Who wants your wedding band from your 1st marriage ? I'd love to get into this business ! They have you by the balls and they know it. Crackheads will sell cheap. Something like common silver coins are untraceable, pay the crackhead half price or less, PO-Lice will never be able to identify it as stolen property. This game is as dirty as Gambling.
Got a friend who has a shop. I have picked up several things from him including a pistol and a TV. Both of which were in perfect condition. My dad buys a ton of guns from him and has never had a problem with anything. He doesn't keep a lot of inventory mainly because he knows people who will buy whatever he picks up so he is mainly concerned with firearms, some electronics, and gold.
