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How is the Pawn business doing in your area

us55840us55840 Member Posts: 31,288 ✭✭✭✭
edited June 2017 in General Discussion
Having visited pawn shops in many states as I've traveled about, it seems they are hurting and some have/are closing their doors due to financial hardship created by the internet.

This is what I hear:

1. Sales are down dramatically in part to the big box stores and internet shopping.

2. Straight out buys are down as more sell on the internet sales sites.

3. Pawns are the only aspect that have remained fairly stable but without sales, the pawn fees alone cannot sustain the business.

How about your area[?]
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Comments

  • select-fireselect-fire Member Posts: 62,756 ✭✭✭✭
    edited November -1
  • nmyersnmyers Member Posts: 16,312 ✭✭✭
    edited November -1
    There's only 1 left in my area, & I think he's doing OK. Most of his business is buying guns from walk-ins, & then selling the good ones on GB. The junk guns go in his display cases for sale to any locals willing to buy them at outrageous prices.

    The owner told me he buys most of his guns when someone dies, & the family doesn't know how else to sell them. I'm sure that he pays them a fair price.

    Neal
  • JunkballerJunkballer Member Posts: 7,930 ✭✭✭
    edited November -1
    Around here they want more for worn out junk than what it retails for new with little to no negotiating. It seems they don't care to sell anything so I politely don't care to buy and walk out [;)]. It's their call when they fall, doesn't bother me.
  • Ditch-RunnerDitch-Runner Member Posts: 18,652 ✭✭✭
    edited November -1
    [:(] none close enough to really make it worth my effort to visit / buy from use to be a satellite store from a large shop in Dayton but that was 30 years ago in our small town ,

    I would bet its the same all over internet sales for better stuff the so /so / average on the shelf's for sale local

    side note my brother was better friends with the pawn broker that was here , he bought a few old beater rifles and shotguns cheep that were not "logged into the books due to just getting them [;)][;)][:0]) a couple times out of the trunk of the fellows car [:0][:0][B)][B)]
  • He DogHe Dog Member Posts: 48,547 ✭✭✭
    edited November -1
    I have been in pawn shops two times in my life because I read here they have guns. Turns out one only sold on GunBroker, and the other only had new Scyy hand guns. Now I just come here. The ones I drive by with some regularity are at lest still there, with a couple of exceptions which folded 10 months ago.
  • CaptFunCaptFun Member, Moderator Posts: 16,635 ******
    edited November -1
    quote:Originally posted by Junkballer
    Around here they want more for worn out junk than what it retails for new with little to no negotiating. It seems they don't care to sell anything so I politely don't care to buy and walk out [;)]. It's their call when they fall, doesn't bother me.


    That has been my experience around here as well. They are catering to the uneducated individual with little or no credit. A clearly stolen air nailer (with a company name on it) that has seen 5 years of hard use and they want list price for it and won't negotiate... Yeah no... How about these Snap on Tools... same story...

    All that said. I do know a guy up north has a chain of 20+ stores. When guns come off of pawn they all go on GunBroker.com for a penny start no reserve. In 14 days he has more money to lend out and does not have to deal with lookey loos in the store. He understands his business and has done very well. The folks around here just do not get it.
  • shilowarshilowar Member Posts: 38,807 ✭✭✭
    edited November -1
    It is a shady business, with huge profit margins, if they aren't staying open trafficking in mostly stolen goods then they aren't doing it right. [;)] The pawn shops around our area seem to be doing just fine. There is a steady flow of items(many of which are likely stolen) being pawned and sold for nothing everyday.
  • mrmike08075mrmike08075 Member Posts: 11,828 ✭✭✭
    edited November -1
    Pawn shops are illegal in my neck of the woods...

    Mike
  • buckglovesbuckgloves Member Posts: 139 ✭✭
    edited November -1
    It is a mystery to me how our local shop survives.

    Only way I see they make a profit is when a person

    really comes back and picks up the pawned item.

    There are plenty of repeat pawn customers.

    I have seen the same person pawn the same rifle more than once.

    Truckers will leave their chains that belong to the truck company.

    I wonder how the driver can keep a job "losing chains" .

    Anyway, it makes sales tax go up in our small town.
  • jltrentjltrent Member Posts: 8,865 ✭✭✭
    edited November -1
    A couple of nice shops that still do a pretty steady business around here.
  • pwilliepwillie Member Posts: 20,227 ✭✭✭
    edited November -1
    Demographics determine who stays in business down here....you have to reinvent your business if you want to survive....
  • grumpygygrumpygy Member Posts: 53,466
    edited November -1
    Two that I know of closed and one was one I used for my FFL to ship to.
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