View Full Version : pawn
02-26-2005, 12:31 PM
So here is a machining related question, it seems like at least several of you guys buy stuff from pawn shops, tools etc, I was always of the belief that pawn shops were a bad influence on the community, ie they increase the amount of theft, burglary, etc what do you guys think? some of the deals I have heard of sound great like in the recent mig thread but I am not sure about the impact on the community, what good is a great deal on a tool if it just gets stolen the next week? lets hear some opinions!
Your Old Dog
02-26-2005, 02:17 PM
I disagree completely. Unlike you, I think Pawn shops are good for a community. I think they weed out the really stupid theives because the cops canvas pawn shops weekly if not daily and have run a multitude of sting type operations from them. If you got something hot, a pawn shop would be the last place I'd take it to convert it to cash.
They ought to put one on every street corner.
If you're not a crook and just down on your luck, they're a great way to get a few dollars till you can get back on your feet.
02-26-2005, 02:30 PM
I think your idea of pawn shops is outdated by 20+ years. Most locals have laws about proper id and waiting periods before placing pawned items out for sale. I've seen a lot of lowlifes turned away by pawn shop owners.
02-26-2005, 02:31 PM
Sort of like eBay, only negotiating instead of bidding. 1/4 to 1/3 of their asking price is where I would start, that's about what they have in it. In pawn shops, money talks & BS walks.
02-26-2005, 03:20 PM
I thought that my thinking might be a bit outdated , but then again I thought that reefer madness was a new release! http://bbs.homeshopmachinist.net//wink.gif thanks for the advise/tips maybe I will take a look at the ones around here there sure are enough of them. maybee I will find something usefull
02-26-2005, 04:36 PM
I have visited two pawn shops in my area, there are only two and are the same business two locations. There was a great variety of stuff. Some very nice stuff and some pos stuff. What stopped me from buying was the prices, outrageous.
02-26-2005, 04:40 PM
i've known a few folks who have taken stuff to pawn shops, and no it wasn't stolen. just stuff they didn't need and didn't feel like dealing with a bunch of yahoos calling about it.
02-26-2005, 05:20 PM
I agree, as I said a year ago I found a tool box full of stuff that to the average guy was junk and bits of metal. In reality there was....
4-Lathe dogs,various sizes toolmaker made.
2-diferent lathe checkers for alignment.
7 or8-mill and drill bits & lathe bits.
assorted stuff that may or may not be useful.
this pawn shop was SOL's in Omaha Ne.
02-26-2005, 07:11 PM
I went to a pawn shop the other day and found my mitutoyo dial calipers .0001 graduations for $20 bucks. Not a scratch on them, in the original box with its documentation. They were asking $65, I said $20, he looked at the date they came in and how much given for the item and said sold.
They had every kind of measuring equip. Most of it Mitutoyo and Starrett. Some B&S
Most of it in the original box and complete. I didnt know what most of it was, but some of them looked expensive if I had to give an oppinion.
Didnt think to check it out for welders. Damn, I need one too
02-26-2005, 09:24 PM
The price they put on stuf is usually the "retail value". Start out by offering 1/4 of that price. Make 1/3 your top offer or walk to the next. They probably paid 1/10 or less of listed price and collected 200+% interest on it.
Your Old Dog
02-26-2005, 09:26 PM
The pawn shops in my area have varying personalitys. I suppose the particular shop owner who knows and understands instruments is more like deal in them. The only tools I've found in our shops are Home Depot specials! I think most machinist would have a hard time getting any loan value with their tools at our pawn shops. Hence, ours have nothing good excepts antique jewelery and musical instruments. Oh yea, they got a lot of gawdy gigantic diamond incrusted Rapper wristwatches. Could all be choir boys but I gotta suspect they hocked their watch to finance the next score http://bbs.homeshopmachinist.net//biggrin.gif Color me cynical http://bbs.homeshopmachinist.net//biggrin.gif
02-26-2005, 09:28 PM
I think most pawn shops are ok. I've got a good deal on a decent precision tool a time or two. The people I don't buy from are these hustlers your run into from time to time that always have a few tools to get rid of. Off course the're not "hot" just ask'em. They usually belong to their (pick one) Dad, brother, bro-in law, friend, etc., who's had some bad luck and needs some quick cash, blah, blah, blah. Most of the time they are lying out of their ass. About 20 years ago some lowlife bastards broke into my shop when I was gone, and stole every tool and motorcycle part I had. I don't do anything that encourages this type of behavior. I don't care how much I might want something, or how good the price is. I don't buy from these people, the next one they might ripoff is me. I can't stand a thief, they ought to be gut shot and left for dead. If they are stealing a mans tools, or their pension they are all the same. That goes for crooked, lying politicians too.
02-27-2005, 07:19 AM
Tell us how you really feel about it Bikenut,Don't hold back.
02-27-2005, 09:46 AM
In my state pawnshops are highly regulated. But all shops are not ran the same. I know a family that has been in business since 1975. Stuff is priced according to what was pawned or paid for it. They will price to double their investment to pay the overhead. In that shop if you see an item that is priced near retail then you can be sure someone got to them pretty good.
If you bring your tools in with names scratched on them then that name had better match the one on your drivers liscense if not then you get to keep it. Any new merchandise must be accompanied with a valid receipt of purchase.
The clerk in a pawn shop must make loans on a great variety of items. He or she may or may not know anything about the item or what it sold for.
The owner of this pawn shop pays for a program to catalog all transactions and sends that report to the local law enforcment daily.
02-27-2005, 10:38 AM
When you said "in business since 1975", my first thought was "oh, so they're new in the business"........now, what does THAT say...? http://bbs.homeshopmachinist.net//biggrin.gif
Ive gotten some good deals, a couple of nice deals on guitars, but have not been able to get anything in a pawn shop in years. They just got stupid recently, you can try to deal, but they just basically show you the door.
[This message has been edited by J Tiers (edited 02-27-2005).]
02-27-2005, 10:54 AM
As with any potential purchase obtain and read your catalogs and learn the street price on a tool or other first,keeps you from getting burnt.
One local Pawnshop had a couple 7" Milkwaukee grinders,they wanted $125.00 as the're bottom line price,only problem is that grinder sells for $160.00 brandnew at Homedepot and Lowes.So I bought a new one WITH A WARRANTY and without the concrete dust and missing handle http://bbs.homeshopmachinist.net//biggrin.gif
I did get a nearly new Makita 3hp router and a 4x24 belt sander $60.00 for the pair.You can get deals,but you have to be careful.
02-27-2005, 05:36 PM
CAnnot speak for every pawn shop out there, but worked in one about four years. Rule of thumb was loan no more than 25% of the value of the item, cuz you won't get more than 50% of the value out of it. We'd bend over backward not to pull a pawned item, giving owners multiple chances to catch up the loan. But if it did get pulled and put out for sale, the price would be keystoned, or doubled. The owner would not budge on price for the first month an item was out for sale, but after that he might dicker with you. You get a pretty good feel real fast for both the pawned items and the clientel. Cops came by weekly, but if we suspected foul play we'd pass on the loan and call the authorities right away. Local law enforcement were good folks to deal with. Datz my 2 cents.
02-27-2005, 07:08 PM
I have bought lots of tools from pawn shops. My strategy is similar to others. Offer 1/3 retail for excellent condition items tools max. Quickly you figure out which pawn shops are worth returning to on a regular basis and which are a total waste of time. I find only about 1/3 make it on my regular route. The rest are exiled to fantasy pricing island.
02-28-2005, 12:26 PM
Pawn shops are like any other buisness, you have to shop around, some are good, some aren't. One of the local shops I stop into from time to time had an almost new DOTCO 1/4 " strait grinder with the router attachment, asked how much? 40 bucks , I then picked up a cordless drill, asked how much, 40 for them both. SOLD I payed and left. Went back to the shop and checked the retail price , and couldn't buy the router attacment for the grinder for 40 bucks, not to mention the carbide 1/4 round bit chucked into the grinder!
02-28-2005, 05:58 PM
I remember years ago,someone had stolen all the tools I had stored upstairs at the plant.I went shooping for replacements and went to a pawn shop for a drill.Found just the type I needed,3/8 VSR for twenty bucks.By golly it even had a long cord already on it!!! It even had a spot of ugly green paint on the grip....
Looked at the videos for the day it came in...yep,right there 7'3" and a Don King hairdo.Fella got layed off a few weeks earlier and I figured he needed the money.The tools were all junk anyway,so I let it slide.I got my drill and a funny story...don't know too many people who buy the same drill twice.