Buying from a pawn shop

Depends on the shop.
Depends on the gun.

Six months ago I offered one $575 for a new Ruger PC Carbine they have $600 on. Yesterday they still have that same PC Carbine and still want $600. Three other local sellers have the same gun too and at the same price.

Now, on USED guns most always seem to have a little wiggle room.
 
Pawn shops around here sell and deal in guns a lot and most know what they retail for. To fid a good selection of used guns that is where you go around here. Most are Pawn and Guns not just Pawn shops. They can mess up on a model now and then as they use internet search to get the prices many times. Like others said depends on how long they have had it and what it is. Now when they take one on a pawn they probably don't pay 50%.
 
In accordance with state law pawn shops must hold any item they loan money on or buy outright for 30 days. Just in case it’s stolen. Which happens often.

A smart pawn shop employee will know retail prices and can quickly determine when an item was put on the shelf.

As mentioned prior, don’t expect much of discount if any if the item was just put out.

A local pawn shop that I have shopped for many years puts their guns out at almost new prices. That’s because some shoppers will pay up. These are normally folks that have several outstanding loans and don’t manage their money well.

It’s perfectly acceptable to ask their best price. I’ve been shopping there for so long that I don’t have to ask. It’s a fine art if you pay attention and learn the game.
 
The shops I frequent USED to come down as much as 20%.
These days about the best I can hope for is to get them to eat the tax - which is right at 9%...
 
I used to deal with a couple of shops in Duquesne and East McKeesport.. some sample purchases. Bear in mind I dealt with them on several occasions

Model 39, ask 375 paid 300

2 Colt 32 New Police snubs. Ask 600 for the pair, paid 450

38 m&p asking 350, paid 300

Spanish 410 sxs asking 225 paid 150

32 DA 4th model asking 250 paid 200

32 HE snub asking 475 paid 425

Hope that helps.

Robert
 
pawngal said:
And always Cash talks, B.S, Walks.
Click to expand...

My first job after graduating high school in 1977 was small engine mechanic in a power equipment dealership. Eventually, I started waiting on customers, doing sales of equipment, etc. The owner was a real character. I learned a lot about business from him. I learned the saying "money talks, BS walks" from him. I still use it today. Thanks Dale and RIP!
 
I love pawnshops.

Have any of you fellas SOLD a gun to a pawnshop? Or been there when some poor sap brings in a gun to sell?

I always assume the shop paid half of the sticker price. Of course they have to pay rent and utilities and payroll, so they won’t sell it for that.

If I find something I like I will form a price in my head, go to the ATM, and come back with that much cash. Cash is King in a pawnshop. It usually works.

Pawnshops are for buying guns, not selling.

The last time I planned on selling a gun to a pawnshop we agreed on a price of $165 for a very nice 2 1/2” Model 19. (It was a while ago!). The pawnshop had a policy of writing a check to you, then cashing it. The guy slid the check across facedown for me to endorse. Out of habit I flipped it over to make sure I was signing the right end. It was made out for $65 dollars. My gun was still in reach on the counter so I snatched it back and cussed the guy and left.

I’m sure there are wonderful ethical pawnbrokers somewhere, and maybe one day I’ll meet one.
 
Pawnshops are great

Here's the way to work with a pawnshop.
Visit them often and always buy something (DVD, CD, tools, etc).
Get to know them, chat them up.
If they know you, and know you are a regular buyer, they will be much more flexible when it comes to pricing.
During the 90's (and later) I bought many firearms at pawnshops. In fact, my favorite pawn shop was run by a real firearms enthusiast, I sponsored him into the SWCA, we shot together up in the hills when we could still do that in my area.
Here's how they did a "pawn" on a firearm, they would "loan" about 20-25% of what they could ultimately sell the firearm for (if you defaulted on the loan, or just didn't come back). They had to sit on the firearm for the duration of the 90 day loan.
This will give you perspective on how much "room" they have on pricing.
Of course, if they are selling a new gun, they are competing with other stores/gunshops in the area, in the Seattle area that was usually in the area of 10-15% margin on a new firearm (probably different now that Covid has changed the game).
 
SmithNut said:
Here's the way to work with a pawnshop.
Visit them often and always buy something (DVD, CD, tools, etc).
Get to know them, chat them up.
If they know you, and know you are a regular buyer, they will be much more flexible when it comes to pricing.
During the 90's (and later) I bought many firearms at pawnshops. In fact, my favorite pawn shop was run by a real firearms enthusiast, I sponsored him into the SWCA, we shot together up in the hills when we could still do that in my area.

Here's how they did a "pawn" on a firearm, they would "loan" about 20-25% of what they could ultimately sell the firearm for (if you defaulted on the loan, or just didn't come back). They had to sit on the firearm for the duration of the 90 day loan.
This will give you perspective on how much "room" they have on pricing.

Of course, if they are selling a new gun, they are competing with other stores/gunshops in the area, in the Seattle area that was usually in the area of 10-15% margin on a new firearm (probably different now that Covid has changed the game).
Click to expand...

Lots of good points.
However, I loan around 50% of what the selling price would be. Even more for regular customers and on high demand firearms. But another factor enters, my hold time is only 30 days, so unredeemed items can be put out for sale 60 days sooner than in a 90 day state. That extra 60 days hold makes no money.
Different places have different rules.
 
Loans here are 30 days as well plus we give a 15 day grace period for a total of 45 days. In regards to things we purchase outright only the jewelry has a hold period, other things can be put out immediately.
 
Where I live there are very few independent pawn shops. The large majority of them are flying major corporate flags. Those ones dont deal. At all. The price is the price and it is a price for a new item, now matter how used up and clapped out the pawn shop item appears to be on the shelf. They do. Not. Care.

Only one of the independent shops i go to is run by gun people. They will chisel 5 points off the price, or maybe cover the tax. That’s about it, but their prices are set a bit lower than everybody else to start with. I’ve purchased many guns from there.

The other indy shops arent run by gun people, so either everything is rare/mint shape (or so they say) or they adopt the same strategy as their corporate cousins. Disappointingly poor.
 
I have run into MANY bargains over the years. Most times were just "I'll take it" while thinking what idiot put THIS price on THIS !? Will I actually get out of the store with this before a more knowledgeable employee tackles me :) ? ---- Just an old Remington 870 12 gauge pump ( like new TB Trap model - GORGEOUS stock) ... Just a .357 revolver (stainless Python) who wants a revolver these days ?! Both were about 40% to 50% of their real value. At least the guy ringing up the Python called out "WHO priced this" ? :)
 
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