If you’ve seen the History Channel’s “Pawn Stars” you know they buy unusual items. Among them several cars, motorcycles and a hot air balloon. But unless you’ve seen the episode, how would anyone know these items are available? I’ve been in a pawn shop, but I think most people would look at what was displayed, never thinking of buying a classic car while there. Anyone here ever worked in a pawn shop and have someone request an unusual item?
Note: I wasn’t sure which section to put this question.
Are they regular customers buying things at a pawn shop? Or are they Pawn Shop owners taking items from customers?
If the latter, they don’t need to sell the item. They will get a percentage of the “loan” they issued with the item as colateral.
They might put stuff on ebay. I have not seen them mention ebay but I have only seen a couple of episodes. Also people with a lot of money visit Vegas so they might sell expensive items to rich tourists.
In one episode they did mentioned they sometimes sell items online.
For some items, they can probably find collectors on Ebay. For something like a car, it might be a matter of putting an ad in some of the car publications.
Given the different experts these guys use to determine value an authenticity, I don’t think selling something would be a problem. Those car restorers they work with probably know of all sorts of people who might be looking for a specific vehicle. They would certainly know of a classic car auction house.
Same thing with all that war memorabilia. I would think if I was a collector and met up with some civil war expert at a convention, I would make sure to exchange business cards. When an unusual item comes into the shop and these guys authenticate it, they probably could call a half dozen people who would might have an interest in it and put them in touch with Rick.
My dad was into model trains for many years. He often went to these shows and things and met all sorts of people from dealers to restorers. So I expect that if he decided to liquidate his collection, he wouldn’t have had a problem doing that.
I don’t know how they do it but I suspect they have third parties who can handle the items at a percentage. In the 70s I worked for a Harley shop that sometimes had bikes on consignment from pawn brokers and bail bondsmen - we got x per month for having it on the showroom floor and a percentage of y if/when it sold.
That’s only true in the cases where the item is actually pawned. From what I’ve seen of the show, most of the items they get they outright buy from the customer.
Maybe that’s just the magic of editing, and in real life they do have more pawned items, but on the show at least it’s mostly buying/selling.
I’m guessing it doesn’t hurt to have your most unique (and expensive) shown for half an hour a night on TV.
I bought a diving watch at a pawn shop for $50. When I was a t Disney later that week, a waiter had the same watch. He paid over 500 for it. Sometimes you can get a good deal.
A friend of mine used to crawl pawn shops looking for golf clubs. He had a huge collection and sold many for more than double what he paid.
In the episode with the hot air balloon the boss said that he doesn’t buy a big expensive item like a car unless he knows of a few people who might want to buy it.
In the episode I saw last night, he asked each customer if they wanted to sell the item, or pawn it. Presumably that affects the offer he makes, and the disposition of the item.
I think they’re often intentionally vague about how they sell things. In the recent episode where Rick bought the 1776 buttons, he said in an aside that it was obvious to him that the seller did not know where else to take the things, so he gave a low ball offer. He has made references to selling things at auction, and I think even on Ebay. I suspect the most valuable stuff, like art or museum quality weapons/armor goes to high end auction houses.
The thing I don’t get is the contest they ran, where a prize was to be awarded to the guy with the highest percentage of profit. Why does the Old Man care what the profit percentage is? If I buy a $5 item and sell it for $10, my profit margin is 100%, but I only make $5. If I buy a $100 item and sell it for $110, my margin is only 10%, but I make $10…
Rick often mentions how he plans on using the items he just purchased (usually historical artifacts, the kind he buys on the show) as decorations for his shop, and will put an outrageous price on it to deter all but the most naive buyers. Of course, if his buyers are anything like his sellers, he probably sells quite a bit of those decorations.
That wouldn’t be very fair. The purpose of the contest was to reverse the trend the old man saw with Corey and Chumlee. If your method was used, Rick and the old man would have an unfair advantage as any deal that would cost the shop over $20,000 supposedly goes to them first (notwithstanding balloon purchase). Chumlee probably isn’t trusted with anything more than mundane everyday purchases, so he’d be at a huge disadvantage if it wasn’t percentage based.
Also, you are confusing markup with profit margin.
I could see someone buying something if only because it was on “Pawn Stars”.
I do not work in a pawn shop, but I do work on the computers at one.
The shop I deal with has about 7000 positive feedback on ebay. They also sell alot on gunbroker.com and other similar specialty sites.
They do keep things in the showroom, you can inquire that you are looking for certain things and keep bugging if you want it.
The storage areas of a pawn shop are chock full of TONS of cool stuff. They jump through a ton of legal hoops to stay around, but from the sounds of it, its a good living if you are smart and dilligent. In some ways I think I would love to work at this place if the opportunity came up.
Here is their eBay store:
http://stores.ebay.com/Gold-and-Silver-Pawn-Shop
It’s mostly low-end stuff, but they did have a Segway up a couple of weeks ago.
And actually, here’s the USS Wisconsin film camera from a recent episode:
http://cgi.ebay.com/PAILLARD-BOLEX-16mm-MOVIE-CAMERA-from-U-S-S-WISCONSIN_W0QQitemZ260528215982QQcmdZViewItemQQptZLH_DefaultDomain_0?hash=item3ca8b117ae#ht_737wt_941
AIUI, The Old Man (Richard Harrison Sr., right?) ran the “contest” to get the guys to toughen up their negotiating and to buy less marginal stuff. He does seem to spend all day at the computer, so maybe he’s their eBay guy.
The one thing I don’t get is why they let Chumlee stick around. I hope the guy’s smarter than he acts.
Well, the other thing is why they don’t have three balls hanging over the door. I thought that was virtually law for a pawnshop.
The Gold and Silver pawn shop has a huge local repuation for being the place to go to buy and sell antique collectibles.
That and they do a lot of business through ebay.
Drifting slightly but ------- friend of the family; especially of the son and seemingly heir to the business. It’s not that unusual in smaller work places for someone to be kept on because “I like them”, At least as long as things go well. The real question is why they keep Peaches ------ wait ------ I just flashed on a mental image of her. I think I answered my own question. 