Pawn Shops

[Guest Micromancer]

I used to work at a local pawn shop, and know the code that shows how much money they have invested in each item. They owned around four or five stores. Pawn shops charge 21% (I think, if not, its posted on the signs in the store usually) interest per month on items. An item that has not had the interest rate paid in two months comes out onto the floor to be resold. The general rule was to get at least a little over the two month interest payment amount back plus a few dollars and the item would generally sell.

Example: Item is priced at $180.00. Item loan amount is $100.00. Interest (the cost to renew a loan) is 21%, or $21.00. Items are held for two months, $21.00 x 2 is $42.00. Offer $150 on the item.

This has to take into account how long the item has been out on the shelf, which is generally listed in some way on the price tag, at least on the pawn shops I frequent. Or, if the item is worth a substantial amount more than they have invested. The post above stating half the ticketed price is good to use if you don't know the code. Another thing to do is try to get the one guy who works in the back pulling items that no one has paid on and are being cleaned to go out on the floor. This guy usually makes $8.00 an hour and gets no commission on sales, unlike all the other people on the floor. I got to know one of the guys and would take him to lunch, which got me first pick on a number of firearms and (brand new) power tools. If you frequent a pawn shop to the point where they know your name, you can usually work a better deal, even if you haven't bought anything all those times you come in there. I have even sprung for pizza. Little Caesar's = $5.00 each. This has saved me a few hundred dollars in my purchases at the one that I frequent the most.

My two cents.

For the people that aren't paying attention, this is a quality post with some really good advice.

[Guest TylerC]

Here in Memphis I see a lot of decent priced 870's and 500's, never ant good handgun deals though

[Guest krater]

I have NEVER seen anything in a pawn shop for less than I can buy it for new somewhere else.

This is especially true now in the age of the Internet.

[Guest slim]

Last yr.i bought 5 milsurps guns, 4 pistols and 1 sks at Valu Pawn in Hixon,Tn. all ranging in price from $100.-$250. all in ex. cond. Each one was $50. avg less than at a dealer or at gunshows and all were in much better shape than i had seen elsewhere! But i did do some negotiating.

Was really happy about it, they usually have a good selection of milsurp pistols!

[frankmako]

Most of the Pawn Shop I've checked want more for a used pistol than what you can find a new one for...

plus one on this. i have never found any deal in a pawn shop for anything.

[Guest m&pc9]

Just recently I bought a brand new 10" Delta miter saw for $40. Lowe's sells them for $150. I try to go about 2-3 times a month and just walk around. Sometimes you will run into a good deal.

[Guest Revelator]

From reading some of these responses, it seems that paying cash and offering 20-30% lower than the sticker price will yield some good results. I think I'll try this in the future.

[Falcon1]

I'm always leery of buying from one unless they have a gunsmith with whom they work regularly to check out what they receive. A firearm that has been through a house fire "looks fine" until one needs to use it.

No, thanks. OMO, YMMV.

[Guest Spuds]

From reading some of these responses, it seems that paying cash and offering 20-30% lower than the sticker price will yield some good results. I think I'll try this in the future.

Don't, it won't work. You'd be wasting your valuable time. Oh wait, you're in Memphis, go for it!

Last yr.i bought 5 milsurps guns, 4 pistols and 1 sks at Valu Pawn in Hixon,Tn. all ranging in price from $100.-$250. all in ex. cond. Each one was $50. avg less than at a dealer or at gunshows and all were in much better shape than i had seen elsewhere!

Slim, if you keep telling wild, untrue tales like that, folks will be competing for these deals, uh, were there any deals, which we know there aren't.

[Guest m4coyote]

I just picked up a 3rd gen Glock 17 with the OD frame for $437.00 out the door today at a pawn shop in Chattanooga. The shop owner accepted my offer of $388 + tax & BG check, and I feel that I got a good deal.

This G17 is "used" but if it was ever fired, I can not tell it. There are no marks on the barrel hood, and the rest of it looks as good as a brand new one on the shelf at Sportsman's Warehouse. The box, papers, cleaning rod, lock, and both magazines were included. One of the mags still had the unworn "warning" sticker on it - just like my G19 did when I purchased it new.

This may not a steal, but I have been wanting an OD G17, and all the gun shops around here have upped the price on them to $519.00 to $550.00 + tax and BG check.

[Guest slim]

Don't, it won't work. You'd be wasting your valuable time. Oh wait, you're in Memphis, go for it!

Slim, if you keep telling wild, untrue tales like that, folks will be competing for these deals, uh, were there any deals, which we know there aren't.

Spuds, you know damn well, that i am telling to truth! Remember you gave me a heads up on the Rom. Tok!

You are just scared that someone will get something from those folks at Valu Pawn, before you get it!

PS. Do you still go there every other day?:D

[robin48]

There is a pawn shop between Millington and Munford that has reasonable prices for the most part. They are also willing to negotiate most times.

[Guest abailey362]

I just picked up a 3rd gen Glock 17 with the OD frame for $437.00 out the door today at a pawn shop in Chattanooga. The shop owner accepted my offer of $388 + tax & BG check, and I feel that I got a good deal.

This G17 is "used" but if it was ever fired, I can not tell it. There are no marks on the barrel hood, and the rest of it looks as good as a brand new one on the shelf at Sportsman's Warehouse. The box, papers, cleaning rod, lock, and both magazines were included. One of the mags still had the unworn "warning" sticker on it - just like my G19 did when I purchased it new.

This may not a steal, but I have been wanting an OD G17, and all the gun shops around here have upped the price on them to $519.00 to $550.00 + tax and BG check.

which shop was it? I stopped in a few today, but nothing jumped out at me....mighta crossed paths

[Guest m4coyote]

We may very well have! I picked it up at the Quick Cash Pawn Shop on Rossville Blvd.

[Almond27]

M4 is that a good shop I've heard they have alot of stuff? Valu pawn is hixson has really given me some swell deals also.

[TNRobocop]

One Stop Money Shop on Murfreesboro Road by Bell Road usually has some great deal. I have gotten several Glocks and a few long guns there for some good prices.

[Guest Fenris]

I would say that of all the ones I went to a few weeks ago, One Stop had the fairest prices and seemed the most willing to deal.

[Guest m4coyote]

Almond27,

Quick Cash has given me some pretty good deals on a number of items. Last fall, I purchased a nearly new John Deere garden tractor from them for $800.00 out the door, and the very same unit at Home Depot was $2500.00 + tax.

I just missed a CZ550 American in 375 H&H for $650.00 a couple of weeks ago there, I should have put something down on it, because it was gone the very next day.

They do have lots of tools, and turn over quite a selection of guns.

Edited January 29, 2009 by m4coyote

[Guest abailey362]

where is quick cash located?

[Guest m4coyote]

Quick Cash is on Rossville Blvd. You can go around the Ridge cut, and get on Rossville Blvd. South. They are located in the old Long John Silvers bldg. about 3/4 of a mile on the left.

[Guest abailey362]

i almost stopped there yesterday but had already went past...wish i woulda now

[bvarnell]

Almond27,

I just missed a CZ550 American in 375 H&H for $650.00 a couple of weeks ago there, I should have put something down on it, because it was gone the very next day.

Probably did your shoulder and your wallet a favor not getting the .375.

[Almond27]

.375 H&H is a thumper alright, I got my second Remington 870 wingmaster today at Valu Pawn in Hixson $125 OTD all the nice blue finish is gone but it is mechanically sound and I just plan on shooting it as a beater so I feel I got a good deal for the old wingmaster. Thats 2 wingmasters in one week I see a habit forming:D

[Guest abailey362]

what was the 870 marked at? I have been in there a few times and they always say they arent willing to work on guns since people are in a buying frenzy. I don't go in enough to be on a first name basis yet though.

[Guest m&pc9]

I hit the pawn shops today and the best deal I found today was a SW40VE for $425. Or you can go 1/2 mile up road to J Floyds golf and gun and get a brand new one for $350.