Times The Pawn Stars Have Seriously Cheated Customers
video description
All that being said, in virtually all of you examples, they mostly purchased the items for between 50% and 75% of value. But keep in mind, they have to resell the items, I don't know if you've ever run a business, but 50%-25% markup is pretty common. (Try selling something on iTunes - they have a %40 markup. Plus, in every case - the Pawn Stars were taking a _RISK_ on the items they purchased. You even provided an example (that they didn't purchase) where they could have lost big (including a potential lawsuit) on the God Father script signed by 'Al'. And the fact that the lady selling it got 12K for the script at a charity auction is silly. People tend to way outbid value in charity auctions - because the point of the auction is fund the charity (duh.
So describing any of this as a 'rip-off' is rediculous. They did business, and they are clearly successful at it.
Date: 2020-07-14
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Comments and reviews: 9
Jim
I've pawned some stuff I wish I could get back. Screw pawn shops. They are a total scam. They offer u 1/3 of what ur item is worth. Sometimes less if they can get away with it. They try to lie to u by saying stuff like there isnt a big demand for this item, u will wait years trying to sell it or they will lie about how much ur item is worth and they know most of their customers are hurting and desperate for money to feed themselves so they take advantage of them and their weakness. Not all pawn shops rip u off and lie but most do. That's just the business but just know, if u put in the work and time, then u will get top dollar for the item ur trying to sell. For example, list the item on ebay or a selling app like Let go. There are so many ways to sell ur items on ur own while reaching a large amount of ppl looking for that item by listing it for sale online or on a mobile app. I know some ppl cant wait and have to get money that day so theres not much u can do besides go to a pawn shop
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I've pawned some stuff I wish I could get back. Screw pawn shops. They are a total scam. They offer u 1/3 of what ur item is worth. Sometimes less if they can get away with it. They try to lie to u by saying stuff like there isnt a big demand for this item, u will wait years trying to sell it or they will lie about how much ur item is worth and they know most of their customers are hurting and desperate for money to feed themselves so they take advantage of them and their weakness. Not all pawn shops rip u off and lie but most do. That's just the business but just know, if u put in the work and time, then u will get top dollar for the item ur trying to sell. For example, list the item on ebay or a selling app like Let go. There are so many ways to sell ur items on ur own while reaching a large amount of ppl looking for that item by listing it for sale online or on a mobile app. I know some ppl cant wait and have to get money that day so theres not much u can do besides go to a pawn shop
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Dennis
In my country this can land you in hot water. People can take you to court for misappraising something eventhough you know it is worth way more, especially when you are the one buying it. Only if you can prove you did not actual know the actual value or if you were not the one benefiting from it you could get away with it. Otherwise you are just screwed. It could land you with a significant fine or you needing to pay what you actually owe the person you bought it from. Sure there is such a thing a business, but there is also something called cheating someone out of their money. And in my country that is counted as scamming someone which is illegal.
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In my country this can land you in hot water. People can take you to court for misappraising something eventhough you know it is worth way more, especially when you are the one buying it. Only if you can prove you did not actual know the actual value or if you were not the one benefiting from it you could get away with it. Otherwise you are just screwed. It could land you with a significant fine or you needing to pay what you actually owe the person you bought it from. Sure there is such a thing a business, but there is also something called cheating someone out of their money. And in my country that is counted as scamming someone which is illegal.
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Evan
There is massive misunderstandings going on here. 1) this is a reality show and the back and forth on pricing is what keeps people tuned in 2) Nevada laws require all pawn transactions to be held confidentiality so no transactions on this show were walk in customers, all were pre arranged by people who auditioned. 3) a normal mom and pop pawn shop would refuse most of these items on the show simply because many of the stuff we see on the show, when you consider the cost of labor, your looking at pulling a employee off the sales floor for days, working over time to find a buyer. most pawn shops deal in modern video games, tvs, etc
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There is massive misunderstandings going on here. 1) this is a reality show and the back and forth on pricing is what keeps people tuned in 2) Nevada laws require all pawn transactions to be held confidentiality so no transactions on this show were walk in customers, all were pre arranged by people who auditioned. 3) a normal mom and pop pawn shop would refuse most of these items on the show simply because many of the stuff we see on the show, when you consider the cost of labor, your looking at pulling a employee off the sales floor for days, working over time to find a buyer. most pawn shops deal in modern video games, tvs, etc
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Charlie
How's it cheating Do you know anything about retail? Normally you have to double your money just to break even. The cannon was valued at 40 K and they paid 30 K after paying all their overhead and time lost they probably netted 1. 5 K at best. Why would anybody go to a pawn shop to begin with. Rip off is american pickers and that cheap a frank character nickle and diming and then asking 500 times what he paid. Pawn shops is a dog eat dog world. American pickers is Shark eat Guppy world. slizzy pawn used to buy Rolex watches for 500. 00 and then resale them for 12 K That's why they're number one pawn shop.
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How's it cheating Do you know anything about retail? Normally you have to double your money just to break even. The cannon was valued at 40 K and they paid 30 K after paying all their overhead and time lost they probably netted 1. 5 K at best. Why would anybody go to a pawn shop to begin with. Rip off is american pickers and that cheap a frank character nickle and diming and then asking 500 times what he paid. Pawn shops is a dog eat dog world. American pickers is Shark eat Guppy world. slizzy pawn used to buy Rolex watches for 500. 00 and then resale them for 12 K That's why they're number one pawn shop.
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galwww
most of these deals sound fair as hell, remember that they bring the experts to analyze the stuff!
that would cost you money gas and time, + going for an auction might not work as good and you still have to pay the auctioneers their cut.
restoration work is also time and connections that most of these people don't want.
and after all that you still have taxes and storage costs, and if you can't sell something long enough you have to auction it and hope that you reach the estimated price.
the show pays but this is still their business, when they get burned they have to eat it too.
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most of these deals sound fair as hell, remember that they bring the experts to analyze the stuff!
that would cost you money gas and time, + going for an auction might not work as good and you still have to pay the auctioneers their cut.
restoration work is also time and connections that most of these people don't want.
and after all that you still have taxes and storage costs, and if you can't sell something long enough you have to auction it and hope that you reach the estimated price.
the show pays but this is still their business, when they get burned they have to eat it too.
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mora
This is why you're better off selling only jewels, cars and houses in pawn shops. Because you can learn about the average price of jewelry, cars, and houses from many sources. (International diamond prices, second-hand market transactions, etc) For a Japanese katana or an ancient book, it may be worth ten thousand dollars at the auction house, but it is only worth 300 dollars at the pawn shop. The work of the auction house is to increase the price, and the work of the pawn shop is to reduce the price.
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This is why you're better off selling only jewels, cars and houses in pawn shops. Because you can learn about the average price of jewelry, cars, and houses from many sources. (International diamond prices, second-hand market transactions, etc) For a Japanese katana or an ancient book, it may be worth ten thousand dollars at the auction house, but it is only worth 300 dollars at the pawn shop. The work of the auction house is to increase the price, and the work of the pawn shop is to reduce the price.
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PsychoToasty
Okay, these people are selling to a PAWN SHOP. They aren't selling direct to collectors. They are cheating them selves for selling valuables to a PAWN SHOP. Saying the pawn shop is cheating them is pretty unfair. They are often telling them they know its worth more than that. Its not like these people are going in forced to sell anything, they want to be on t. v and they are in Vegas. I put no blame on the Pawn Stars here. If the people want full value than they should sell direct.
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Okay, these people are selling to a PAWN SHOP. They aren't selling direct to collectors. They are cheating them selves for selling valuables to a PAWN SHOP. Saying the pawn shop is cheating them is pretty unfair. They are often telling them they know its worth more than that. Its not like these people are going in forced to sell anything, they want to be on t. v and they are in Vegas. I put no blame on the Pawn Stars here. If the people want full value than they should sell direct.
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William
Most people who are desperate for money arent selling 40 thousand dollar cannons and Lincoln Continentals, they're selling TVs or DVDs or small electronics.
In the case of this show its not the fact the pawn shop is ripping them off it's their fault for taking the low ball offers. If you have a rare 19t1 autographed Yankees ball and you don't do your research thats your problem. Most people go into the shop thinking they have a smalll fortune only to be brought down to earth.
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Most people who are desperate for money arent selling 40 thousand dollar cannons and Lincoln Continentals, they're selling TVs or DVDs or small electronics.
In the case of this show its not the fact the pawn shop is ripping them off it's their fault for taking the low ball offers. If you have a rare 19t1 autographed Yankees ball and you don't do your research thats your problem. Most people go into the shop thinking they have a smalll fortune only to be brought down to earth.
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nick
Its a pawn shop. All pawn shops usually buy things at half price what its really worth. Dont look to make 100% the price or even 80% of the price. Especially those that need restoration or those that are hard to sell. By the way that ball is probably worth 1000 the signatures are way too worn off. Same with the difference in the samurai sword. Title of the video little off especially since its seriously cheated. Seriously would them paying less than half of what they would make.
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Its a pawn shop. All pawn shops usually buy things at half price what its really worth. Dont look to make 100% the price or even 80% of the price. Especially those that need restoration or those that are hard to sell. By the way that ball is probably worth 1000 the signatures are way too worn off. Same with the difference in the samurai sword. Title of the video little off especially since its seriously cheated. Seriously would them paying less than half of what they would make.
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