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A Pawn Shop Story

Discussion in 'Bad Dog Cafe' started by Jbnaxx, Feb 28, 2021.

  1. Bulldoggio

    Bulldoggio Tele-Meister Gold Supporter

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    I'm an old guy, so I remember well the days of treasures for nothing in pawn shops. It changed about 30 years ago, when I was on the road in North Dakota. I walked into a shop and he had everything. Pre CBS Strats, Teles, old Les Pauls, black face and tweed, and I remember thinking, "Eureka!" Then I started looking at the prices and everything was exactly market value. Then I saw a stack of "Vintage Guitar" magazines on the counter, and I realized the tide was changing.
     
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  2. Lonn

    Lonn Friend of Leo's

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    I’ve bought at least a hundred guitars from pawn shops this last 20 years and still find deals from time to time.
     
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  3. Torren61

    Torren61 Poster Extraordinaire Gold Supporter

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    Pawnshops used to be THE place to go for a good deal if you had the cash. Most of them know how to use the internet to value their stuff but good deals can still be found depending on how long the item has been sitting on their shelf.

    When the person came in with that MIM Strat, they probably left with $100 to $200. The shop would have known how much that guitar was worth new and they would not have loaned anything near new value UNLESS a mistake was made. They priced the guitar for sale at that ridiculous price on the hope that someone with no knowledge would come in and buy it for full price. It doesn't hurt to try. The longer it sits there, the more motivated they are to get rid of it because it starts costing money to store it.

    You have to know what the item sells for new and used and if you think it's too high, lowball him and be prepared to walk away. My question is, if you played it and it sounded like crap, why were you interested in buying it anyway? Those guitars can be found for far less and, in fact, American Strats can be found used for less than $500.
     
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  4. Willie Johnson

    Willie Johnson Tele-Holic

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    I went trawling on the seas of sleeze in the local pawn shops yesterday and came up empty. Full price transparency makes bargains very hard to find.
     
  5. Dan German

    Dan German Doctor of Teleocity

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    I have to agree. Unethical? Probably. Sleazy? Likely. Greedy? Oh, for sure. But not dishonest, unless the guitar is labeled as something it’s not. Personally, I think it’s bad business in a world where the majority of people are over-informed.
     
  6. Dog Bite

    Dog Bite Tele-Meister

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    Used to hit the pawn shops years ago and did find some real bargains. It's a brutal business. For every bargain I scored, someone else (the person who pawned the item) got hosed.
     
  7. nojazzhere

    nojazzhere Doctor of Teleocity

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    I haven't set foot in a pawnshop in several years, so I don't know if this is still pertinent, but Cash America pawnshops used to have a code on all their tags, and usually on a sticker on the item. Based on "MARY LOUISE".....M=1, A=2, R=3, etc, up to E=0 (zero) If a tag had the code "MEE, that meant they OWNED the item for $100. If the code was ALE.....that meant $250. This was helpful if you knew what they had in it, in making an offer.....especially toward the end of a month, when they were wanting to hit "sales goals". They would almost never sell below what they owned something for, but, if anxious to sell, they would often come close.
    I guess I need to check out a Cash America soon and see if this practice is still in place.
     
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  8. Peegoo

    Peegoo Poster Extraordinaire

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    The pawnbroker is a Perveyor of Broken Dreams.
     
  9. John_B

    John_B Tele-Meister

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    No more independent pawns here, all are owned by two companies. No deals, no pro instruments, no nothing. If you do find something you want you have to wait three months for it to be in your price range. Always a long line of people getting loans and I think it is sad. I think they take advantage of poor people with no options but I am told the pawns are the only one who will offer them an option. I really feel for these people but not the obvious meth addicts!
     
  10. Fenderdad1950

    Fenderdad1950 Tele-Afflicted

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    Really, I always thought pawn shops were as honest as used car lots:twisted:
     
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  11. Jbnaxx

    Jbnaxx Tele-Meister

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    I can’t agree with the “it doesn’t hurt to try” line of thought...... the person who potentially paid $825 got hurt.
     
  12. Torren61

    Torren61 Poster Extraordinaire Gold Supporter

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    Yeah, pawnshops are known for their empathy...
     
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  13. Rockinvet

    Rockinvet Tele-Afflicted

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    I think it’s interesting this topic just popped up. I was going to go out and look for some off brand items this week just to see if good deals still exist.
     
  14. Jbnaxx

    Jbnaxx Tele-Meister

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    Understood...... it’s just an unfortunate business if you think about the whole process.
     
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  15. Deeve

    Deeve Poster Extraordinaire Silver Supporter

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    Agreed - if you know the code (their purchase price) and can maintain a poker face, the world is your oyster.
    Arrive at a "hungry time" for their sales goals - even better.
    :cool:
    Peace - Deeve
     
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  16. posttoastie

    posttoastie Tele-Afflicted

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    A pawn shop that never sells the guitars is just a guitar museum.
     
  17. Jbnaxx

    Jbnaxx Tele-Meister

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    I was also underwhelmed with the selection..... why would someone pawn a Squier Bullet?
     
  18. CaptainCrunch

    CaptainCrunch Tele-Meister

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    I'm 42 and never once in my life can I recall seeing anything in pawn shops better than an Affinity, and they're $400. I think a large part of why the ones I've seen ask such crazy money is they offer layaway. So $50 a week makes it "affordable", and they get to rob two people.

    Same as Rent-A-Center and the like - "Sure, I can't come up with 500 bucks to replace my busted dryer, but I can do $25 for 36 weeks".
     
  19. Jbnaxx

    Jbnaxx Tele-Meister

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    This is exactly how it was....... I felt like I needed a shower when I got home.
     
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  20. radiocaster

    radiocaster Poster Extraordinaire

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    I'd be worried that some of that stuff could be stolen.
     
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