I can’t believe how they screw people on that show. Every time they lowball some dupe, I start screaming “eBay! Haven’t you heard of eBay?” Those guys must make millions. Too bad they don’t show the occasional customer telling Rick to shove it.
They are actually very fair with the people who come into their store.
Remember that most retail markup is 400%. That is why a GP of 50% can be had during a 50% off sale. In most instances they are offering about 50% of what they believe they can get for the item. In the meantime they have to hold the item. Fix it and sit on it in a retail environment until they can sell it. They have alot of over head.
They also call in several experts in order to find out what an item is worth if they do not know.
As a side note. I can not say for the others but Rick is definitely Republican. He has been on Mark Levin in the past.
Some people don't sell what they bring in, and yep, they show that on the show, too.
It is up to them whether they think they are getting enough. They aren't being forced to accept the offer, and as you point out, there are alternatives.
As for the shop making money, that's what they are there for. Buy low, sell high, pay expenses, get some ROI. Capitalism at its finest.
eBay doesn't get your mug on television.
They don't screw anybody. They make an offer that people are free to refuse. People who sell stuff to pawn shops are people that don't want (for whatever reason) to take the time and effort it takes to sell it on e-bay or an auction. Of course they'll get more there, but they won't sell it ~right now~. There's just nothing wrong with that.
Those guys must make millions.
I'm sure they make a good living, but probably not so much as you suppose. They seem to pay about half of what they think something will sell for. Then they've got overhead to pay out of that... store rent, wages, bills... their margins probably are pretty thin.
Too bad they don’t show the occasional customer telling Rick to shove it.
They do. People refuse their offers all the time. The pawn guys also sometimes just don't make offers on things that they think they can't sell easily, nomatter the price. They also don't buy super-big ticket items either. Tying that much cash (like $500K) up in one item is a huge risk if it doesn't sell right away.
They are not screwing anyone, every one of their customers has the right to not make the deal. Most people that pawn or sell to pawn shops want/need the money yesterday. Selling at auction or even on Ebay they have to wait for their money. I have bought and sold on Ebay quite a bit and there are tricks to getting fair prices even on Ebay. Pawn shops make their money off of people that fail to plan ahead, that is just how it works. I have nothing against pawn shops, they do have overhead and have to wait for the right customer to resell many items. The other issue is people cheat pawn shop owners all the time if they don’t do their homework like these guys do.
A couple seasons ago, a woman came in to sell a piece of jewelry or a broach (sp?). She wanted a couple hundred $$$ for it.
Rick checked it out and said he couldn't make that deal with a clear conscience, and offerer her $15,000 for it because it was a Faberge piece (or something like that).
The woman couldn't believe it and then asked for $16,000. Pretty funny...
They are in it to make money. Everybody who ever had to deal with pawn shops knows that they are never going to get a good price.They tell the person up front that the business needs to make a profit on the item.