Pawn Shop Secrets Exposed!

I managed a pawn shop in Tulsa about 5 years ago. You would be amazed at the tricks of the trade. With Christmas coming up people are strapped for cash. The pawn shop is an easy way to get some easy cash. Just don't get screwed. Here is a list of things to look out for.

1. Tools and electronics...expect to get a 1/4 of retail value. For example: Jimmy pawns a chainsaw he bought for $100 at Lowes. The pawn broker will give you $20-$25. If Jimmy loses the pawn, the pawn broker will sell the chainsaw for $50-$75.

2. You get more money when you sell. A pawnbroker will pay a little extra so he can put an item up for sale instead of waiting 2-3 months for the pawn to expire.

3. When pawning jewelry always weigh your items yourself. I've known some pawnbrokers who will switch real diamonds for fake ones. A cheap diamond tester will help you.

4. If you can't make a payment on a pawn just call And tell them. Most pawnbrokers are nice and will hold your pawn for a few extra days.

5. Guns and gold will get you more money. Pawnbrokers get sick of seeing tool and electronics.

6. Clean your stuff before you bring it in. You might get a few more bucks.

7. Figure out the code. When a pawnshop makes a price tag, look for a code. If you can crack it you will see how much the pawnshop has in it.

I hope these tips help you out. Hopefully you won't need to pawn anything!

Damn, whenever I read - Pawn, my head converts it to - Porn!

When you said "Take a gun" I thought you was gonna say rob the place

i was in looking at a watch one day when someone came in to sell gold and he presented a decent pile of rings and chains which the lady weighed .

she handed him a pittance for it and when he left i reminded her gold was weighed at the trogan scale ?? .

but i got a very good discount on my watch

Its a sure bet EVERY pawn shop is a rip off.......period.
That is how usery works......................

reply to post by catfishjoe

3. When pawning jewelry always weigh your items yourself. I've known some pawnbrokers who will switch real diamonds for fake ones. A cheap diamond tester will help you.

Seller Beware! If you bring jewelry into a store the store owner should do all evaluation and testing on the counter right in front of you. If for any reason he says, "I'll be right back" and turns to go in the back, stop him and insist the item remain on the counter.

There is no reason for him to go back there with your jewelry unless he intends to switch something. Its that quick. They know the size and appearance of stones and a mounted diamond can be swapped out for one of lesser value in a minute. Don't take your eyes off your jewelry while in the store. A quick evaluation with a loupe or tester is all he will require. Then he should hand it back. Don't let it sit on the counter either while you "look around".

These little "tests" are key to determining whether the store is honest or not.

Let me clue you in. They aren't "honest". Not in the usual sense. They are advantage takers. Notice all the glass cabinets filled with glittering gold and diamonds? They got that by paying out as little as possible to people desperate for money. Conversely, they charge top dollar for everything and thats why none of it sells. They don't care if you don't like their offer or asking price. They are hoarders and prefer to keep their treasure trove than sell it.

How do you think they got all that stuff?

Pawn shops are the worst place to take your precious metals and stones. Metals bring "scrap" or "melt" prices (20% of actual value). Theres a 100 ways to fool people from their end. If you can, hang on to your metal or find a coin show filled with private dealers that are willing to haggle for price. They will generally pay a higher percentage. Be on your guard there too. There are reputable dealers at shows, you just have to find them.

By the way, TV shows that show people getting hi values "Pawning" their goods is a come on. Don't be fooled. If you have something of higher value, take it to a jewelry store and have it appraised only, then laugh at their offer and walk out. If its higher end jewelry people will respond to online E-bay or other sites. Appraisal slips are golden.

reply to post by VoidHawk


pawnshops, at least around here, are interesting places. Its one of the few places where rednecks can walk in with a rifle and no one really bats an eye.

My tip: don't buy anything large enough for a cockroach to fit in. Especially electronics. They LOVE electronics. And guaranteed the store will have some kind of bug issue.

I buy games there from time to time. Got a really good shotgun at a pawn shop once. Its sitting by the bed, actually.

reply to post by bigfatfurrytexan

Pawn shops in the uk are extremely rare; at least around my neck of the woods, I cant think of a single one.
Is the shotgun beside your bed for protection? Looking at your avatar I would imagine you'd only have to jump out and say Boo! LOL

I would never recommend anyone pawn their stuff. There are too many other venues to hawk your wares and get decent money all over the internet. This is like pay day loans and all of the other businesses designed to take advantage of people in a crunch.

I know someone who went on Pawn Stars once with a rare video game. That show is completely scripted. No one is striking it rich at the pawn shop.

Question for the OP. Why is it that everything in a pawn shop is marked up so high except the guns? Most of the shops I have been to searching for games have crazy prices on things like old computers but you can buy SKS all day long for $125.00 which while not a really pricey gun they do go for more than that generally. Is it just a matter of demand and being able to get a quick turn around or are they just paying so little for them to begin with?

NihilistSanta
I would never recommend anyone pawn their stuff. There are too many other venues to hawk your wares and get decent money all over the internet. This is like pay day loans and all of the other businesses designed to take advantage of people in a crunch.

I know someone who went on Pawn Stars once with a rare video game. That show is completely scripted. No one is striking it rich at the pawn shop.

Question for the OP. Why is it that everything in a pawn shop is marked up so high except the guns? Most of the shops I have been to searching for games have crazy prices on things like old computers but you can buy SKS all day long for $125.00 which while not a really pricey gun they do go for more than that generally. Is it just a matter of demand and being able to get a quick turn around or are they just paying so little for them to begin with?

Thanks for replying. I usually priced my items 25% cheaper than retail, regardless what I had in it. People would get pissed because I would offer $20 for a $100 chainsaw. They would get upset and I pointed over to the row of 30 chainsaws.

The good thing is you can always negotiate. As long as the pawnbroker is making money he will lower the price when selling an item.

reply to post by VoidHawk


never had a home invasion, but there have been a few. Typically among drug dealers and whatnot.

But my mom lives with me due to age. She has rental properties, and has had some renters that we have had to evict for months of non payment. Finally got her business going right again....but never know who may be pissed off, drunk, and wanting to settle a score. Because of her past rental decisions, I typically manage it for her (and run background checks....no felons allowed).

reply to post by NihilistSanta


As for the SKS rifle......we had a ton of them. Best seller. We would give $75 form them and sell for $150. When Obama got elected we bumped the price to $200-$225 and sold out in a few weeks. Politics has a big influence on gun prices.

reply to post by NihilistSanta


I realize these are scripted shows,but Pawn Star is one of my favorites.Not only for the educational stuff Rick add's,but much less drama than Hardcore Pawn.I do love seeing Les let his cheapskate side show thru!I think you could walk in there with a 20 pound bar of gold,he'd offer 10 bucks! I enjoy seeing him make a bad deal,although being Detroit,most of his stuff is probably stolen

I bought a hunting rifle at the pawn shop. It looked kind of ratty, but had a nice scope on it. Almost looked like it was rusted on the barrel and had smudges on the stock. Got a deal on it, then took it home to clean it. Turns out, it had deer blood all over it and it cleaned up like new. Now I have a fine looking .308.

network dude
I bought a hunting rifle at the pawn shop. It looked kind of ratty, but had a nice scope on it. Almost looked like it was rusted on the barrel and had smudges on the stock. Got a deal on it, then took it home to clean it. Turns out, it had deer blood all over it and it cleaned up like new. Now I have a fine looking .308.

A pawnshop is a great place to buy guns.you can haggle the price and usually get a free case out of the deal.

reply to post by blkcwbyhat


People would get really pissed bringing in a DVD player and me offering $5.00. We did get some antique Colt pistols in once.

The internet markets have seriously decreased the amount of instruments that end up in pawn shops and therefore their focus on this market. Before that i used to pick up quite a few things in pawn shops but heres what i learned...
The Pawn Brokers were more knowledgeable about the items and market then they would lead you believe. You had to Negotiate the price down.Their whole business model revolves around negotiation and optimizing Their investment. They count on being better at this than the majority of their customers. Whatever your expectations for business ethics are, they should be drastically reduced at the door.