pawn shop negotiation techniques

[deadin]

I'm very happy with the deal I got, but his immediate acceptance makes me think I should have begun with a lower offer.

I know the feeling! A couple of weeks ago I stopped in a new "gun store" (It's actually an adjunct to another business) and made a $250 offer on a gun tagged at $350.
The owners comment of "Really??" (with eyebrows raised and look of surprise) and immediate acceptance made me think I should have started lower.

For sure, I am going to have to go back and take another look at fairly nice Winchester M94 Rifle in 32-40 (pre-1899 manufacture) he has tagged at $1500. That's a little rich for my blood, but who knows, maybe he will come down to a $1000 (or less)......

 

[deadin]

[FONT=&quot]Well, I went back and took a second look. My,my, how things changed.[/FONT]
[FONT=&quot]The "antique" M1894 has now turned into a C&R M1894 (made 1899).[/FONT]
[FONT=&quot]The buttstock finish and quality doesn't match the forestock finish and quality and is a shotgun butt with a Fajen butt plate. (a rifle butt was the standard.) Also, the bore is questionable. Couldn't get a good look at it through the crud. It does come with a set of dies and a bunch of brass and bullets.[/FONT]

[FONT=&quot]The best part is that the owner has decided that with just a little bit of work it can be changed into a $8000.00 (his words, n[FONT=&quot]ot mine)[/FONT] gun and he asking only $2500.00 for it.[/FONT]

[FONT=&quot]I think I will pass……

[FONT=&quot](Although I would like to have a copy of the guide that he is getting his pricing from for wh[FONT=&quot]enever I want to sell something....)[/FONT][/FONT]
[/FONT]

 

[Doubless]

I guess I look at pawn shops all wrong. I have always felt they took advantage of folks that were down on their luck, and it is because I have seen it. I watched a man come in to buy back an item he had pawned, and the owner said "Just pay me the interest. You are obviously making the money you need to pay your other bills. This isn't going anywhere. You are good for it. Just pay me the interest." This goes on for about three months and all of a sudden the pawn shop has about 20% of what they actually paid for the item still invested in it, and then the guy screws up and loses his job. Guess what? The item is lost and the pawn shop makes a killing on it when they sell it.

I offer ridiculous low-ball offers, because typically it isn't something I can't live without. And having said that, I have made a few absolute steals in dealing with pawn shops. Not a bunch, but some...

 

[raljr1]

Pawn shops operate under fairly strict regulation as far as I understand. They act as small banks for a lot of people who don't have my assets beyond their belongings. I know this to be especially true out west near the Indian Reservations...I talked with pawn dealers out there and they say that 90 of their pawn is reclaimed. The items are collateral for the loans. A friend has a small pawn shop in the Jacksonville area says he loans out over half a million per year from his small shop. If a dealer only gets interest on a pawn, he'd have to collect that for some time before he'd have only 20% of the pawn value in it. Where's pawngal when we need her input.

 

[beagleye]

I buy regularly from a couple of pawn shops....relationships have value....

That's my philosophy on good deals too.