Pawn Shops

Discussion in 'Miscellaneous [BG]' started by Minimalist, Jan 31, 2002.

  1. Does anybody have a little inside knowledge of pawn shops? I mean, how do they come up with the price? How much are they usually willing to deal? This type of info.

    I have been looking around and sometimes you can find really good deals.
  2. yeah, i agree,they rock! you can sometimes find some really cool stuff.i think they find the prices by just loking at the state stuffs in and whether people will wanna buy it or not! but still, they're real cool! shops....
  3. You wouldn't believe the deals you can get or what you can find there, infact I found an effect I owned once that was stolen from me. It had the same serial number and everything but it was so much cheaper then what I paid for it.

    :mad: :rolleyes:
  4. geoffzilla


    Oct 30, 2001
    Nashville, TN
    Endorsing Artist: Aguilar Amplification
    pawn shops generally price according to "blue books". They have stanadardized prices for just about anything. This is my understanding anyways.
  5. thrash_jazz


    Jan 11, 2002
    Ottawa, Ontario, Canada
    Artist: JAF Basses, Circle K Strings
    Wish I knew what shops you guys were looking at... Whenever I go to a pawn shop, it's run by some chump who thinks he can sell the instruments at list price! And, no doubt, wonders why everything in the #%^#% store is gathering dust.

    One time I saw this Mexican Fender P-Bass for sale at a pawn shop. It had some dings in it and a missing control knob, and the moron was trying to sell it for $400, which is the same price a Mexican P would go for brand new!!! I mean, come on, people!

    Summary: thrash_jazz hate pawn shops... pawn shops full of fools... maybe thrash_jazz just has really bad karma...

  6. oddentity

    oddentity Supporting Member

    Nov 20, 2000
    Sounds like the pawn shops in my area. Philly pawn shops seem to be notorious for setting the prices too high, and being unwilling to make deals.
  7. Brendan


    Jun 18, 2000
    Austin, TX
    They go by what's considered standard:
    List: $$$
    Retail: 60% Minumum of list. Mor like 70+
    Used: Depending on condition- 60% of retail or less
    Pawn Shops: Less. They don't have to pay to ship them in, or pay the maker/shipper/parent company. They buy it cheap, and then sell at a higher cost, so usually it's quite low. They only give you maybe 50 for every hundred, if your lucky. So they can sell cheap, and STILL make a profit.

    Case in point: I have an Eden Wt-300 and an Eden D410XLT. Price from Musicians Friend? $1994.00 (rounded up by a few cents). So, what, you're looking at 2000, right?
    I called up a local pawn shop, and got the rig for $950, out the door, tax included. And this was mint. Not a scratch, still had one of the tags on the XLT. Couldn't have seen a gig. No rack ears, but hey, get a little, give a little. So:

    Pawn: $950.

    You make the call. Pawn shops are my friend. :)
  8. Most pawnshops want to sell at the price the item was when it was new. Regardless of how you may reason with them. However since they can't, they try to squeeze every single penny out of the
    item they can, sometimes leaving stuff on their shelves for years. Others sell at a reasonable resale
    price to move things in and out the store. It all depends on where you are and the pawnbrokers need of cash.

    I have bought lot's of Fender Precisions and other decent basses from pawnshops and also stereo stuff and have enjoyed shopping at pawnshops. I know what I want before I go and have a good knowledge of what it's worth. But it takes some experience to deal with some of the brokers if you don't want to get screwed. They are waiting for you.
  9. finn74


    Nov 28, 2001
    A simple formular to remember when dealing with pawn shops.

    They use Orion Blue Books to estimate value

    They pay the seller about 30% of what they anticipate reselling it for.

    Knowing this you can bargain accordingly. Usually if they can make 50% profit, its yours.
  10. Brad Johnson

    Brad Johnson Commercial User

    Mar 8, 2000
    Gaithersburg, Md
    Boom Bass Cabinets, DR strings
    Greg, that's true of the shops closer to or in DC... when you get farther out, it varies. For example, there are some good shops in VA but there are a couple of "waiting for a dummy" type shops too. List price on 10 year old gear and won't negotiate. I stop by every couple of years to see if they've gotten a clue and usually see some of the same stuff there. Anyone who wants a nice pre Dolby Pro Logic add-on suround sound proccessor for $250, let me know:rolleyes:

    In MD, where I live, they are much different. I got my Cirrus 5 for $600, Adcom preamp for $59, Seiko Kinetic watch for $60, brand new Sanyo DVD with component outs for $75, etc. all from the same shop. I asked for their price and these are what they gave me.

    One pawnshop sold a JayDee Mark King bass for $600. My first AMP BH-420 came from a pwanshop... for $150. Another had a very early Ken Smith for $450. I got my 78 Jazz for only $500. OTOH some will try to get $1000 for a Tune Bass Maniac or Fender Mustang.

    If you're looking for anything, get familiar with it before you hit the shops. If you're not sure of something, do some research before you commit. I found a powered sub with 5 speakers that seemed like a good deal... until I found that they were selling them on uBid for half the price.

    Some pawnshops here know eBay and sell there. They also check eBay to help determine the value of an item. My philosphy here is, they didn't pay much and neither will I. It works way too often;)
  11. But how do I get that number. Or did you mean they pay 30% of the sticker price?
  12. Chasarms

    Chasarms Casual Observer

    May 24, 2001
    Bettendorf, IA USA
    I actually have a relative that has worked in the pawn shop business for years. Here's the deal.

    Pawn shops would prefer not to sell anything. If they has their way, everyone would repay their loans and pick up their stuff. Pawn shops aren't making money by selling you a bass. They are making money when they give me $100 and and I have to give them $130 in 90 days to get my bass back.

    Relevant no, but I will continue. Like everything else in America, many pawn shops are now owned and operated in chains by huge corporations. What looks like a mom and pop, in fact may be ran from an office 500 miles away. Those sorts of shops are very rigid about what they loan and what they sell instruments or anything else for. There are a few different "blue" books out that state the average price for instruments. These shops are the ones that you can't usually find a deal. The shop closest to my house is easily 20 percent higher on used gear than any of the music stores. Plus you get no service and suspect quality and condition.

    So, where you find a deal is in a private-owned shop. In these, the proprietor is simply trying to get the money back that he/she loaned as well as the interest he would have made if the pawner had not have defaulted on the contract.

    I have been able on a couple of occasions to get stuff very reasonably priced because the owner didn't lend much on it.

    Never be afraid to make a ridiculous offer in a pawn shop, there is no need to worry over offending someone (hey, it's a pwnshop) and you never know how much they really loaned on it.

  13. Brad Johnson

    Brad Johnson Commercial User

    Mar 8, 2000
    Gaithersburg, Md
    Boom Bass Cabinets, DR strings
    Very informative, Chas, especially about making an offer. You'd have to work long and hard to offend some of these people on the level their customers sometimes do;)

    The shops where I've gotten the best deals here are both mom and pops and corporately owned. The best I've seen anywhere in the country (and I've been all over).
  14. CamMcIntyre


    Jun 6, 2000
    Here's what i've saw so far @ pawn shops [thats worth mentioning]:
    EM MM Stingray-$1000 [red, couple dings/scratches]
    Fender California Series P-bass, CAR, gold anadized pick guard i forget if it was a P-special or not-price:$400-425 i believe. If i had the money i'd have walked otu with it.
    Assorted import/copies of fender designs for 50-250. thats about it. You can find good deals, just need to know more than they do. thats all
  15. so far i have Only bought in pawn shops. Both my Fender Jazz and My Amp came from a pawn shop. Shop, singular as I was lucky enough to find a Pawn shop owned by a DB player. He has a pretty good rotating stock of music stuff so i go by once a month or so or whenever I happen to have some money burning a hole in my pocket.

    come to think of it has been a while since i went by.....

  16. Carvin BB-75 bass : $155.00
    Peavey T-40 : $90.00
    Fender MIM P-bass: $175.00
    Gibson Ripper : $200.00

    Those are just a few of my "pawnshop prizes".

    Some places deal, some don't. It's still worth looking though.
  17. Boplicity

    Boplicity Supporting Member

    You guys seem like experts on this topic. Let me ask you all. Would you be more likely to find a true bargain in a pawn shop or in a used music equipment store or on E-Bay?

    Personnaly, I noticed some things listed in the catalog of Daddy's Junky Music were HIGHER priced than the same thing new at Musician's Friend or AMS. Daddy's JUnky Music has a new name now which I can't remember. When I relized how tricky they were with their pricing, I gave up on them.
  18. I have bought lots of used stuff in my life, I'm a collection junkie.
    Your most powerful tools are knowledge and patience.
  19. HeavyDuty

    HeavyDuty Supporting Curmudgeon Staff Member Gold Supporting Member

    Jun 26, 2000
    Suburban Chicago, IL
    My pawnshop prizes in the last year: (yeah, I like to rub it in!)

    $350 for an Azureglo 1981 Ric 4001 with HSC from a small local pawn

    $300 for a natural ash 1999 Fender AmStd Jazz with HSC from Cash Converters

    $60 for a Minox IIIs submini camera from Cash Converters

    The trick to finding deals at Cash Converters is waiting for them to misidentify stuff in the Blue Book! They thought the Minox was a cheaper, later model and the Jazz was priced as a MIM.

    The Ric, meanwhile was priced based on the amount the pawn had in the deal - he wanted money, not a bass for store stock.
  20. *mumbles, again, about HD finding a Ric that cheap..*