have you ever pawned something?

joyco

any tips?  I watch Pawn Stars (probably more than anyone should--but my uncle was supposedly on 2 episodes and I tape the show trying to catch those episodes) and it's got me thinking...Jay was given a Bulova watch about 5-7 years ago and he doesn't wear watches and wouldn't money be much nicer?  So I was going to take it in on Thursday while the boys are in school.

My specific questions:  should I take it to several pawn shops to see what the highest rate someone will give me would be?  I've looked on ebay to get an idea and I figure it's worth a few bucks, but then again, I don't have all day and it's not like NB is filled with awesome pawn shops.  Any thoughts on specific pawn stores to hit up?  Should I look at one that like at HEB that advertises "gold and silver"?  The watch *is* silver.  

What else should I know?

FireChiefsBride

They'll give you probably 25% of the street value.

You'd do better selling it on CL or ebay if you can. 

gofurr25

FireChiefsBride:

They'll give you probably 25% of the street value.

You'd do better selling it on CL or ebay if you can. 

Ditto. I pawned a necklace from an ex a long while back. I got way less for it than if I had sold it elsewhere, but I wanted it to be gone. KWIM? 

molliedb

my ex pawned stuff all the time.  he pawned my camera once.  but i digress....

i would sell it elsewhere if you want true cash value for it.

L L CG

I think people use pawn shops when they want to sell something very quickly.  Or, they essentially want a loan.  Back in the lean years my mom had to pawn all sorts of stuff, including her wedding set, to pay the bills.  Where's that sad trombone?  Wah wah wahhhhh.

GuavaGal

I have not ever pawned anything, but I do love Pawn Stars.

Anyway, I wonder if you might get more $$ for the watch if you sold it to a jewelry store?  I see ads all the time for jewelry stores that sell used Rolexes, so there's probably a market for a used Bulova.

joyco

GuavaGal:

I have not ever pawned anything, but I do love Pawn Stars.

Anyway, I wonder if you might get more $$ for the watch if you sold it to a jewelry store?  I see ads all the time for jewelry stores that sell used Rolexes, so there's probably a market for a used Bulova.

It's brand new, essentially. Never been worn. I will check jewelry stores. Thanks y'all!

amyliisa

I have never pawned anything myself, but I HAVE worked at a pawn shop.  PP's are correct - you don't want to take that watch to a pawn shop if you just want money and never want your watch back.  The thing about pawn shops is this:  they are going to pay you for your stuff, sure.  But, they're thinking they're going to turn around and sell it, and they want to sell it for at LEAST a 100% profit.  They ALWAYS negotiate the price tag price of the items they sell, so they will price it such that they can negotiate 20% or so off their tag price, but still collect 100%+ profit over what they paid you.  So your $1000 brand new watch, isn't going to get you much more than a couple hundred bucks from a pawn shop. 

Plus, they don't pay crap for silver, and a little more than crap for gold.

As an aside:  This is my problem with the show Pawn Stars (which my DH watches religiously!).  People are taking their things in there, that are authentic collectible, museum quality pieces, ONLY so they can get on TV.  A pawn shop will never, never, never ever give you what the piece is worth.  They are a business, and they are only interested in making money.  They make TONS of money, by not paying near what things are worth, but turning around and selling them for what they're worth (or a little less).  It pisses me off when I watch that show to see people go into Rick's shop with their authentic Revolutionary War musket, expecting to get what a collector would pay for it.  I always end up yelling at the TV:  "Take the damn thing to a collector if you really want what it's worth!" (<--  and that pisses my DH off.  So we can't watch that show together!)