Pawn shops are becoming an unlikely source of great deals thanks to the ongoing non-recession thing, according to CBS. Where else can you turn pop’s old watch into last month’s overdue rent check? We always see pawn shops as a half-step up from dumpster diving, a semi-acceptable sad-land where each abandoned item comes with a free story and a frown.
“This ladies Rolex retails for approximately $5,000, and it’s something we would offer for around $3,000,” explains [Stan Lukowicz from Capital City Loan.]
We also found a diamond ring appraised for $5500, selling for $1800.
A Mitre saw priced for $350 at Capital City Loan usually sells for about $600 in stores.
“When you come to a second hand store or a pawn shop, you can save dramatically from the retail because we don’t have the high mall rents and the large advertising budget that they have,” says Stan.
And keep in mind, everything is negotiable.
Pawned items aren’t synonymous with mint condition, so remember to ask about return policies, and as always, caveat emptor.
Do you have pawn shop experience? Hock your stories in the comments.
Save With Dave: Pawn Shop Savings [CBS13]
(Photo: nalilo)
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Some good laptops can be had at pawn shops. I got a P4 laptop (which will suck power and be very hot) for about $400. It runs WinXP, but I wouldn’t be surprised if it’s a unauthorized copy, so I will have my Gentoo Linux CD’s ready.
@STrRedWolf: If it sucks power and is really hot, and possibly runs an unauthorized copy of XP how is it a really, really good deal? I get that $400 for a laptop is pretty good, but what made it really worth it? I’m not criticizing, per se, just curious as to the specs of said laptop.
I have shopped at Goodwill and Salvation Army, not so much out of necessity. During college I got my halloween ideas from Goodwill, especially if someone wanted to throw a “retro” theme or something.
Has anyone ever had experience with Goodwill’s online auction site? I love Craig’s List, but have never used Goodwill’s auctions.
Two weeks ago I found a whitewater kayak with a carbon/kevlar paddle for $105 out the door. I didn’t try to run the price down, as it was already such a bargain I was happy to find one at all.
I could not have gotten into WW kayaking cheaper without stealing it myself.
Turns out, the person owned it last traded it in for another WW boat they had. Took it out for some fun today, totally worth every buck I paid.
Pawn shops are good for deals on some stuff, but stay away from anything electronic (except maybe stereo gear). Every pawn shop in which I’ve ever browsed computer gear, PDAs, and so on, has always been WAY over the eBay price. For power tools, and hand tools, you can sometimes find a good deal.
I’ve never really been a fan of these little mom and pop pawn shops: the merchandise was often owned by people who don’t take care of their things (Reason #27 Why They Use a Pawn Shop) and the prices aren’t all that cheap.
I had a guitar stolen from my home. I filed a police report and went to the three pawn shops within walking distance of my home. I gave them a description of the guitar One place was very rude to me saying “We never get stolen goods.” Flash forward a year and I walk into the pawn shop to find my guitar hanging on the wall. After confronting them about it I was told that they would give it to me for the $50 original loan against it. Infuriated I called the police and was told that essentially the pawn shop was immune and discouraged from doing anything other than pay the $50. Needless to say I look at all pawn shops with distrust now.
I’ve bought a few things off of pawn shops on ebay. I got a 6 month old Kirby Vacuum for $300. Probably stolen, as the financing wouldn’t have been paid off yet. I’ve looked on ebay and locally recently and nothing, everything’s priced too high.