Are Pawn Shops not the ultimate buyer seller relationship all rolled into one?
I have a friend that owns J&M Pawn Shop. And I admit that I do go there from time to time to shop for jewelry. Also he knows I collect broaches and has a habit of preying on me with anything new that he gets in. And I’ll confess. I love shopping there and have also gotten some of my friends into the habit of frequenting his store for all kinds of things. The deals one can get in a pawn shop can be awesome.
Most people think of pawn shops as seedy places where people of less than stable character will take stolen goods to sell them, or visit to pawn the last vestiges of their being to get drug money. But it’s not that way at over 95% of them. They’re heavily regulated in most states and have to document the stuff they take in for legal reasons. And with the show “Pawn Stars” being such an outrageous success nowadays. The pawn business is picking right on up.
Here are some great ways to see the industry in it’s true light. Very often when somebody finds that they no longer need or want an item they’ll just throw it away, or set it out by the curb hoping somebody will pick it up. Or maybe they’ll put it on craiglist and keep updating and refreshing their ad hoping eventually somebody will see it and buy it. Items like this can be taken to a pawn shop and off loaded immediately for cash on the spot. You can even haggle a little!
If it has any value as a collectible the pawn shop owner generally knows somebody he can call the minute you go out the door to tell them he’s gotten it in, just the way my friend Jeff does with me and jewelry. Jeff tells me that people collect the strangest things. He claims to know a guy that collects the “As Seen On TV” products. Is that strange or what?
So it doesn’t matter if you want to buy or sell. If it’s a used item a pawn shop will be interested. They always ask “do you want to sell it or pawn it”. This is because if you’re pawning it they want you to return to get it! That’s right, they usually have limited space in their store rooms where they’ve taken things in on pawn that the persons never came back for and they don’t have shelf space to put it out front for sales. Most all pawn shop owners invariably have to have off site storage facilities for these items.
Never pay what they ask. Always haggle with them. Remember they have a storage and shelf space problem and it doesn’t matter what it is they will be motivated to sell. If you’re in Louisville and go by J&M tell Jeff the owner that Linda Cash sent you and that you’re going to haggle him in the best way possible.