negotiating prices at pawn shops

[biscuit141]

I'm new to buying tools at pawn shops, heck I'm new to buying anything at pawn shops. Is negotiating something that is common practice? Found a craftsman professional circular saw in the case, good shape for $39. Wanted to see if I could get them down to maybe $30 cash.

 

[jeepnut24]

I usually try and negotiate some and it works at most of them, but not at our local Pawn chain. They stick to the sticker price unless Im within days of the date on it.

 

[LoneGunman]

When I had my shop everything was negotiable, all the local pawnshops will haggle. When I first opened I priced stuff at a good price, usually around half of retail, even though it was a good price people still wanted to haggle. I quickly learned to inflate my prices by 20%, I then let the customer talk me down to the price I would have sold it when I was listing the price I want. It makes no sense to me that if something is priced very fairly why some people fell they just need to get something off but that's the way it is. I had trouble keeping stuff on my shelves because I was fairly priced. It's a dual edge sword though, if I'm selling half of retail that means I'm only going to buy or loan at 25% of retail.

 

[Blacknwhitepit]

Everything is negotiable!!

The worst they can tell you is no!

I find being friendly and smiling helps. (No one wants to give a break to a ********)

I ask, "What is the best you can do on this?" and see where we go...

I have an idea in my head of what I want to pay..

I may point out out why the price should be lower (Rusted, seized, engraved)... Give them a reason to drop the price...

If they won't move on the price don't take it personal. It is business. Also I have found that as some places get to know you better, the better the deals will be... Conversely, It can go the other way (They know you know you $hit, and may not cut you a deal).

Politeness works great, and never say "That is a crazy stupid price!!!" (Even though it may be) no one likes being accused of being a SHYSTER and it will not help any sort of deal (Not a tone to get a deal done!). I believe having a good personality helps as well.

If something is unmarked (Like at flea markets) remember this: NEVER GIVE THE FIRST PRICE!! The person who sets the price first is at the disadvantage... Seasoned negotiators will ask what YOU will give for it. If this happens, go 20% under what you would like to pay... JMHO

-BWP

 

[Blacknwhitepit]

Here is an example of actual negotiation I did two days ago.

I saw a 36mm Snap on Combination wrench... Perfect condition, less than 2 years old.

He had $86 marked on it.

I take it up to the counter and find the guy.

I ask "What is the best you can do on this"

He peruses it (Like he doesn't know what it is) and says $75 plus tax.

I reply "I will give you $50, Cash Money right now" (Note, no credit card fee).

He say "I will go $65 with tax"

I reply "You probably don't have many people who come in here and pay $65 for a Combination wrench"...... Being friendly and smiling while I say it...

He mumbled... "yeah..."

I said "I'll go $65 Cash, no tax"

He then curtly says... OK (Kinda disgruntled, but I could tell it was an act.. All part of THE DANCE)

So I got it for $65 out the door.

The more you negotiate the better you get... and I actually enjoy doing it....

There are more techniques (But I would have to charge)!!!

Here is one for free (Dress down when you Pawn Shopping and Flea marketing).... Don't wear your Rolex while you do this!!! These guys can read people like books!!!

-BWP

 

[lilredex]

This one is kind of fun to watch...never know what they might deal with.

http://www.history.com/shows/pawn-stars

 

[speed bump]

Did it today, I don't know what I did though. The thing I always try to remember is I have a price in my head and he wants my money, if he doesn't beat my price then I can wait to buy it until he is more willing to sell it.

If the person at the counter is female it takes an entirely different route

 

[woody 73]

Funny thing about this post my father could sell sand to the desert tribes,he could sell the Brooklyn bridge,the liberty bell and even when you were done crying (for buying a New York Bridge) he could make you laugh.

I say this in fun because I seemed to have missed this chromosome in my body,everytime I smile they turn and say do not let the door hit you on the way out.

Darn it next time I am going in the store wearing a loin cloth (what Rolex ???) and just utter cow sounds....

 

[Blacknwhitepit]

Funny thing about this post my father could sell sand to the desert tribes,he could sell the Brooklyn bridge,the liberty bell and even when you were done crying (for buying a New York Bridge) he could make you laugh.

I say this in fun because I seemed to have missed this chromosome in my body,everytime I smile they turn and say do not let the door hit you on the way out.

Darn it next time I am going in the store wearing a loin cloth (what Rolex ???) and just utter cow sounds....

The Lev Pawn (Not the super seedy one) had a very firm seller in there... I don't know if there was anything to get that guy to give you a deal...

The Hilltop pawn shop guys were a bit dickish... They were kinda jerks actually...But I did manage to get a deal, I went back there later and the guy who sold me the Snap on Box wasn't there (He had the large nose)... It seems like you could work with him.. But they really gave me the cold shoulder on the second visit.

Try the Russian Place on East Broad... They are actually pretty good to negotiate with (I went back).... They weren't going to charge me tax, as long as I was paying in greenbacks!!!

-BWP

 

[biscuit141]

When they say bring cash and we can talk, what should I expect? I am looking at a $250 air compressor, could I get it for $200? Is there a chance?

 

[Blacknwhitepit]

When they say bring cash and we can talk, what should I expect? I am looking at a $250 air compressor, could I get it for $200? Is there a chance?

That means they WANT TO DEAL...

If you want it for $200, offer $180 and put $200 and only $200 in your wallet.

At the first counter when they say 220, Open your wallet and pull out $200 and say "this is what I have" and empty it out...

Tell him that you need it for work..... and you are here with the money..

Above all---SELL IT WITH THE EYES...

You can put extra cash in your car or pocket... But don't pull it out once you've thrown down the gauntlet...

If responds with $215, point out why you should get it for $200 (older model, rust some places...etc.. You find it) and you are there with $200 cash.

If he holds firm. You need to decide if you want to pay the new price... If so... Tell them you need to hit an ATM... Go to a Sonic... Buy a soda and come back and pay for it...

If not, You have not lost anything..

Also. Learn to read Pawn shop codes... I made a thread about it here... If they use them, you may figure out what they have in it... If they have $220 in, it is very doubtful they will lower the price to $200.00

-BWP

 

[KEH]

First rule, know what the item you are interested in sells for new. If an item is in as new condition and is more than 1/2 new price, I'm not interested. After that, price depends on condition and whether or not everything is there. Your saw, for example, should come in a carrying case and have a wrench to remove the blade, unless it is one of the cheaper models. Like the other post said, wave cash money.

KEH

 

[LoneGunman]

Another thing to remember is to not expect the best deals the first time you are in the shop. I had a guy that would come in once a week, he came in for 3 years NEVER missing a week, He didn't have to negotiate because he knew he'd get treated far better than someone who's never been in before. It probably average out to him paying probably about half of what the stuff was listed at. His main items were guns, he's probably one of the largest collectors in this area with a collection worth in excess of 200k. He'd buy just about anything though, could never figure out what he did with half the stuff he bought, he wasn't reselling it because what he would make would be no where near what his time was worth. He was one of those guys where you wouldn't think he had money, when someone lives on the ocean and lives on a few ACRES he's got money.

 

[mkdive]

Great thread...lots of good info! Subscribed.

 

[Coleman]

Biscuit,

Welcome to The Garage Journal!!!

I'm fairly new to pawn shops too as of late. Careful though, it can be addictive!!!

What I've found works best is personality. I bought a little bit from a guy the otherday and came back in the next day stating how I enjoyed buying from here and how good a deal this guy gave me. When I got up to the counter with another load...he said he would take an extra 10 bucks off my find because I came back in again and had bought stuff previously. Maybe it was just getting to know him. I also got talking guns with him because I heard him talking to a buddy about a CCW law and class he was going to be taking soon.

As far as negotiating..I think the previous posts are pretty much spot on. If it feels like too much...then don't pay. Like someone said before..if you offer a price and they say no...then you can always walk away.

I know it's hard sometimes..but there are deals..it may take some time to come across them though.

Another thing I try to do is find the pawn shops that seem to have other pawn shops around and flea markets. They are more inclined to deal prices because they know you can walk out the door and find it right across the street. Des Moines, IA is a perfect example of this down on Army Post Road. They are eveywhere in that area it seems.

Best of luck.. Hope you find a "You ****" score!!

-Coleman

 

[71Datsun510Wagon]

Tons of good advice here.

I started going to pawn shops about 10 years ago. Usually quick visits over my lunch hour. As a pawn shop virgin I assumed the marked price was the price. It wasn't until I went with a co-worker that I finally understood the pricing game. He has a farm background and is a master negotiator. It was quite a revelation to watch, listen and learn from him.

I've become friendly with some staff at my usual stops and that probably gets me a better price. On a hot day, the purchase of a Coke or Pepsi from the 7-11 (next door) is much appreciated by the guys I know. Some people will show me what the shop has into an item, if the owner isn't around and no other customers are around.

Mostly I just ask "What price can they can do?" on an item. Quite often they will shoot me a price that is less that I the figure I had in mind.

As has been mentioned. it is always good to know retail prices of what your considering. Be polite and courteous to the staff, it goes a long way!

I found a new shop about a year ago. He puts almost all hand tools in one large bin. It's fun to see how many useful, quality, tools I can get for $5. My best so far is 23 assorted wrenches, screwdrivers, extensions and one 1/2" Gray ratchet! I see the the occasional truck brand but lots of Craftsman, Gray, Proto, Williams, Industro, etc, etc. Some I keep, some I flip to others, some go in my swap meet box for later sales. Sometimes, I might only find a couple of tools, the owner says no charge!

Have fun!

 

[Nealcrenshaw]

And dont take their sometimes "i can give a rats rear end" attitude, they have to put up with people trying to haggle them on a daily basis.

Try to discern which guy is the nice one,and avoid the woman she really does'nt care
about trying to meet you in the middle.

 

[Art From De Leon]

When I lived in San Antonio, I had a 'route' of about a dozen pawn shops that I had found to have a good selection of quality tools, and on my days off, I would make at least one or two trips during that month to see what they would have. I learned not to pay more than 1/3 of new price, and it took me a long time to learn that Snap on could make more tools than I could buy. But there are bargains to be had, you just have to know what the original cost was.

San Antonio was a great place, with all the aircraft industry, if something had been made, for some purpose, sooner or later, it would turn up in a pawn shop.

The Rio Grande Valley was the total opposite, junk, junk, and more junk, not even good flea market material.

 

[91_4x4runner]

When I lived in San Antonio, I had a 'route' of about a dozen pawn shops that I had found to have a good selection of quality tools, and on my days off, I would make at least one or two trips during that month to see what they would have. I learned not to pay more than 1/3 of new price, and it took me a long time to learn that Snap on could make more tools than I could buy. But there are bargains to be had, you just have to know what the original cost was.

San Antonio was a great place, with all the aircraft industry, if something had been made, for some purpose, sooner or later, it would turn up in a pawn shop.

The Rio Grande Valley was the total opposite, junk, junk, and more junk, not even good flea market material.

Which pawn shops were those? I've been frequenting the ones on the northeast side of town and nobody seems willing to wheel and deal regardless of my tactics. I haven't visited many on my proper side of town (southeast) but I imagine the tool selection is 100% better based on the selling "clientele"...

 

[Danglerb]

What pawn shop these days doesn't know roughly the value of any normal brand of tools?

I'd say deals only exist around the edges, and maybe not all the time even in the same stores depending on whatever the boss decides.

I look around, pick up a mix of items, some easily put back and see what kind of price I can get for the lot. I usually have some patter, reason for buying a few tools that isn't too demanding on when I buy them. If prices look good maybe I look for more things, not so good put some back and try on a better deal on the rest. If they won't budge, I'm not rude, but I do kind of let them know I am not happy to waste my time and plan to buy what I need someplace else.

 

[rsanter]

I have made offers and negociated with them before
some are asses about it and othera are cool
sometimes it will work if you are talking with a reasonable person

bob

 

[Art From De Leon]

Which pawn shops were those? I've been frequenting the ones on the northeast side of town and nobody seems willing to wheel and deal regardless of my tactics. I haven't visited many on my proper side of town (southeast) but I imagine the tool selection is 100% better based on the selling "clientele"...

God, it has been at least 18 years. The only one that I can really remember was just North of Loop 410 on Perrin Beitel, on the east side, there was another on Pat Booker Rd, in Universal City, on the way to Randolph AFB. The NE side of town had the best selection, as well as being the easiest to find, I want to say I found one or two on Bandera, outside of Loop 410. I lived on the NW side, North of I-10 and off of Wurzbach at Vance Jackson.