Pawn Shop Savvy

[Glenn B]

So, there are lots of pawn shops near where I live. I have been in a few at most usually just to do transfers. I check out some of their guns sometimes. They usually are asking prices close to gun show pricing or so it seems to me and yes I mean high end pricing. I have never bought a gun in a pawn shop with one possible exception back in the 1970s when I was 21 or so years old.

What I'd like to find out, from those of you who fairly regularly make purchases in pawn shops is this: Is there a certain percentage, more or less, that I can pretty much expect that just about any pawn shop would be willing to come down from what they are asking when it comes to firearms? My guess is that they probably have a 25 to 50% markup over the price they paid for it but that is just my guess.

 

[Geezer]

Not all pawn shops are the same. There are two in my small town. One has high prices, one has reasonable prices. I no longer go into the one with high prices. I have bought from the other one. I don't think there is a set percentage that they will discount a firearm. I always ask for the best price, out the door. He gives me a price and I either accept it and buy it or, I say thanks and decline.

 

[Grumps21]

If I’m hot for something and it’s priced at least close to reasonably, I ask that the price marked be the OTD price if I pay cash. I have never been declined. Not one time. I’m saving 8.25% in taxes and the shop is saving probably half that in cc fees.
Other times I’ll ask for the best cash deal they can offer. I don’t *need* to buy anything, so I just walk if the offer is ridiculous. I hate dickering.
Usually I’m on the bike so I’ll ask for a bag when I complete the purchase. Pawn shops never have bags so they always come up with a pistol rug or a small duffle bag from the back room as a small bonus to me

 

[RaySendero]

Not all pawn shops are the same. .....

That's been my experience, too. With all kinds of pricing.
Check'em all out that are convenient to you.

Look for cleanliness and clutter. Clean and little clutter can indicate
they tend to have better prices and plan quicker turn over inventory.
While looking around spot something inexpensive to buy.
Ask to meet the owner - He's the one that has leeway to give you the best price.
If you see something you are really interested in - Buy that inexpensive item first
before you try to negotiate a more costly item.
Most pawn shops will not leave unique items out that don't sell for a long time.
They will put it in back for a while so that you may think they sold it.
Some have even had as much inventory in back as you see out for sale.
So if your looking for something special or unique - ASK.

 

[Moonpie]

As stated above each shop is different.
Some will haggle. Some will not.
Rule #1 is you never pay sticker in a pawn shop.
Rule #2 is have cash.
Rule #3 is be willing to walk away if they won’t meet you were you’re comfortable on price.
Roughly the shop will have about 50% of the asking price in the item. Often less. Now the shop has to make money. This is where the shop may or may not flex. Make a cash offer. OUT THE DOOR price.
Rule #4 Don’t even start this unless you’re going thru with buying. Don’t waste the shop guy’s time with tire kicking.
If you deal with the shop a few times they know you’re a serious real buyer and MIGHT cut you some slack.
This is where a personally owned shop may start to work with you. The corporate owned shops like Cash Pawn and Pawn America are staffed with drones who aren’t allowed to haggle. You can still ask.
Remember at pawn shops the sale is AS IS. So check the item thoroughly before you buy it. If you get it home and find a problem you’re stuck with it. Some shops may refund. Most do not.
The problem is shops are wise to the Internet. They look at Gunbroker and price their trashed out iron at max value. There is a shop here that has a SAA they say is a Colt. It’s not. Its an Italian framed gun with a Colt barrel in it. Of course they’re asking $2500 for it too. So beware.
I troll the local shops here regularly. Typically they have overpriced low end crap. Once in a blue moon tho they have a diamond in the rough.

 

[RaySendero]

I have a friend that owns a PS. He had a simple yet strict pricing policy:
He wouldn't take anything less than 50% over what he had in that item.
as a result he had some items that didn't sell for years.
He listed 5 of them on gunbroker and put the reserve at his +50% price.
He had bidders, but none met his reserve price.
Pull all 5 off after a week like maybe they sold.
Put 5 more less expensive items on with a much lower % reserve.
Sold all of them and got to talk to the buyers on phone and e-mail.
Got good reviews from them for great pricing.
So with his improved reputation when back to his +50 reserve and sold some more.

 

[leVieux]

I’m unfamiliar but have a question:

Is it wise to buy a gun which was previously owned by a person who had to pawn it, then couldn’t retrieve it ?

 

[Moonpie]

I’m unfamiliar but have a question:

Is it wise to buy a gun which was previously owned by a person who had to pawn it, then couldn’t retrieve it ?

Not an issue.
The gun will be re-papered by the shop once it goes to you.
I do not know this for certain but I have heard the guns get serial# checked for theft.
Gun should be clear to sell.

 

[leVieux]

Not an issue.
The gun will be re-papered by the shop once it goes to you.
I do not know this for certain but I have heard the guns get serial# checked for theft.
Gun should be clear to sell.

<>

OK, & agreed. I just use my in-house ATF.

My concern was re prior maintenance.

I almost made a big mistake at a gun show once.

<>

 

[V-Tach]

Never pawn your guns................they are checked by State law for being stolen and if it does come back as stolen, it will not be returned to you......they will let you pay the pawn ticket to get it back only to tell you it was stolen and you can't have it back. That way they don't take the hit, you do.....

You can get more selling it outright on a private sale....

 

[RaySendero]

.....

My concern was re prior maintenance.

.....

Yeah - Condition is always a concern when buying used and "As Is".
That's the very first reason you shouldn't pay close to new gun prices!
However, I've seen quite a few priced close to new price?!

Second, It's much better to buy in person or from a PS rather than on-line.
as you do get the opportunity to inspect the firearm.

Third, Learn what the common defects and wear (excessive wear) looks like.
When I'm really feeling the urge to buy, I have a bore light and magnifying glass with me.

 

[Chupacabra Hunter]

I frequent gun shops, mostly my neighborhood shop and its a corporate shop. They will come down on prices but depends on the gun and how long it’s been there. Its a business with a service so they must make a profit. When they buy guns from private gun owners, they must wait 28-30 days before it is displayed. I make an offer and most times it’s pretty close to my price. I mostly look for guns I don’t have and want or guns that you cant guns find easily. I take advantage of their lay- away. I still pay off usually within 2 months.


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[baboon]

I never was into pawn shops for anything. I always seen them as bottom feeders, taking advantage of people coming & going. Pawn shop realty shows seemed more like advertising then entertainment.

 

[General Zod]

When we moved to our current home I got curious and walked through one of the non-chain pawn shops here. The guns were either priced the same as new guns, or were held together with electrical tape and JBWeld. The pocket knives and fixed blades also were priced at full retail.

Then I wandered through the tool aisle, looking at beat-to-hell circular saws and angle grinders and belt sanders...so I got curious and started looking those exact tools up online on my phone. And every damn one of them could be had for $10-$30 less brand new either at Lowe's or Harbor Freight.

Yes. They had banged-up and abused Harbor Freight tools for sale at above full retail price there.

That pretty well turned me off from pawn shops. I did get a decent deal on a used acoustic guitar for my son at CashAmerica a few years ago...but I could've gotten the same deal at a decent music store. It was just more convenient there.

 

[lonestardiver]

Lay-a-way was mentioned earlier and is a relevant point to note.
Pawn shop prices are near or above retail and they offer lay-a-way whereas many places don’t offer it. It is a marketing tool to get sales from a demographic that doesn’t have the money for an outright cash purchase or a credit card with available credit to make the purchase. The people in that demographic are targeted and they don’t usually have many other options so the pawn shop gets about full retail on an item they paid 25-30% of its value.

 

[1911'S 4 Me]

Lay-a-way was mentioned earlier and is a relevant point to note.
Pawn shop prices are near or above retail and they offer lay-a-way whereas many places don’t offer it. It is a marketing tool to get sales from a demographic that doesn’t have the money for an outright cash purchase or a credit card with available credit to make the purchase. The people in that demographic are targeted and they don’t usually have many other options so the pawn shop gets about full retail on an item they paid 25-30% of its value.

Plus I think salespeople get a commission so more to payout.

 

[Geezer]

I never was into pawn shops for anything. I always seen them as bottom feeders, taking advantage of people coming & going. Pawn shop realty shows seemed more like advertising then entertainment.

They can’t take advantage of you unless you allow it.

 

[Grumps21]

Plus I think salespeople get a commission so more to payout.

Yes they do. Had that happen to me. Went in with cash and was offered extra discount ( I think it was about $20) if I did a lay away and wait a couple weeks to collect because it would be a new month. The way it was explained is that the layaway counts as two sales. 1) for the initial 10% down and 2) for the final payment/transfer. I was good with that so I took them up on it

 

[Polkwright]

I’m unfamiliar but have a question:

Is it wise to buy a gun which was previously owned by a person who had to pawn it, then couldn’t retrieve it ?

It's fine if you know how to evaluate a used firearm. If you don't then you need to learn how, or stay away. This is true of any used gun in any venue. Pawnshops are no different. I think a lot of their more desirable guns come from people who acquired them by accident and just don't care. As soon as the power bill is due they sell it.

One of the finest guns I own came from a Pawnshop.

 

[Dermako]

Long story short. My Grandmother was buried with a very ornate heirloom vintage wedding band. I never should have let it happen but it did.
Almost ever since I have tried to find one like it or similar. I have looked online, some of the high end jewelry stores that buy estate jewelry and even pawn shops.
Think it was last year I went into a Pawn America I think it was, one of the big chain ones and was looking and asked to see a ring and the guy asked me for my ID. I asked him if I have to be a certain age to buy a ring and he says he is going to hold my ID while I look at the rings. I told him what he could do with his rings and promptly left the store to never return. I mean I get it to a point. but I was in the middle of the store. Not by the front door and looking at a $4-500 ring with no diamonds not 5K+ ring with major bling. Most likely will never enter a corporate Pawn Shop again in my lifetime.