Monday, May 23, 2011

Getting a Good Deal at a Pawn Shop

everyone is always interested in saving money and getting a good deal. I've seen a few pawn shops that carry guns. When buying something at a pawn shop, always keep in mind that the shop had to get that item from somewhere. It could have been sold outright or it could have been pawned. Either way, it is safe to assume that the shopkeeper paid far less for the item than what the price tag says. Anyone who has ever tried to sell an item to a pawn shop knows that sometimes the shop can make offers that are downright insulting. I don't feel bad for the people walking in to pawn their items because they are free to sell to whomever they wish. No one is making them accept these ridiculously low offers either. basically what I'm getting at is that we don't have to pay what is on the sticker at the pawn shop. There is usually a significant margin on most items, leaving the buyer some wiggle room for haggling.

If the pawn shop says they don't wiggle on prices, leave. There are plenty more pawn shops out there that will work on the price. Keep in mind that your local pawnshop has those items out for sale. It is in their best interest to sell the items they have so they can free up both money as well as space in the store which can be used for other items.

When I go to a pawn shop, I take cash. When you plunk down cash currency, the person behind the counter will be more likely to take your offer. Cash is easy. There is no credit card 3% fee to factor into the equation. When I take cash, I don't put it all in my wallet. If I know I only want to spend like $100 on a gun, I'll bring $100 cash (in small bills) in my wallet. When I take out my wallet, I can show them that's all I've got. Sometimes the pawnbroker will work with you. They're still making money on the deal, but not as much as they would have if they'd gotten their asking price for the item. Other times, the whole "this is all I've got in my wallet" won't work, in which case you can take another bill or two out of a different pocket. You're not liking to them when you say this is all I've got in my wallet, the rest of your cash is just in another pocket.

When haggling, ask for an "out the door" price. That means if you offer the person $100 out the door, that's with all taxes and call-in fees for the firearm paperwork. The guy on the other side of the counter may have to do some math, but its always an easy way to make an offer.

I've found that it really pays to be on good terms with pawn shops. I've got a few pawn shops that I visit frequently and have purchased guns from. I tell them what I like, what into, and what I'm looking for. I've actually had one shopkeeper say to me "Hey look at this, its right up your alley!" I didn't buy the gun, but it was nice that he remembered what I like.

Be reasonable when you make an offer on something. Knowing exactly what the item is worth as well as what you're willing to pay for it makes things easy. If something is priced well already, I might try to get a few bucks knocked off just because I like getting a deal. If its overpriced, don't tell the person that its overpriced, just make a fair offer of what you're willing to pay for it. The person might come back with a counter offer, but you're always free to walk away. If that same item is still on the shelf months down the road, go back to it and inform the shopkeeper that you made an offer on it so many months ago and its still here, why not sell it so you can get a little more space on your shelf? That kind of tactic often times works. The seller does not want to have an item just up on the shelf collecting dust because that's not making him any money. The whole time, the money that he paid for the item is just sitting there not doing him any good. If he had the money in the bank, at least he could be accruing a little interest.

Make offers, most pawn shops will work on the price if you look like a decent person and have cash in hand.