Pawn shop inflation

[Phil Hansen]

Last year I got a Record Bailey 3 from a pawn shop in the nearest city. Paid R50 ($7.5) for it. The assistant asked why I wanted an obsolete piece of junk. "everybody uses power these days". replied that it was still an extremely usefull tool and a lot still use them. Went in on Friday, they had a Stanley handyman 12-020 and a Bohmer (sp). They wanted R500 ($75) for them. 900% in a year? Bet they stay there for a long time. Can buy a new Stanley Handyman here for about R250 There must be some serious suckers out there

[J T]

Sun, Oct 17, 2004, 11:41am (EDT+6) [e-mail] (Phil=A0Hansen) wonders: asked why I wanted an obsolete piece of junk. "everybody uses power these days". replied that it was still an extremely usefull tool and a lot still use them. 900% in a year?

Well Hell, no wonder, and it's all your fault. You shoulda said you wanted them for paperweights, to look at, or anything stupid. But, nooooo, you not only had to tell them they were "useful", and "a lot still use them", you had to tell them they were "extremely" useful. It's a pawn shop, they hear crap like that, of course they're gonna raise their prices.

The Woodworking Gods are totally pissed at you.

JOAT Flush the Johns.

- seen on a bumper sticker

[patriarch]

Phil Hansen wrote in news: [e-mail]:

There's a Stanley Handyman on my tools shelf, but only for sentimental reasons. It's the first handplane I swiped from my father's toolbox.

Well sharpened, it's OK for softwoods, if accuracy isn't too much of a requirement.

There's a whole PhD dissertation to be written on the psycho-economics of pawn shop pricing, but not this morning. I'm exhausted from reading Keeter's Shop Snippets...

Patriarch, who's certain that one is born every minute...

[Greg]

I have seen used tools at pawn shop priced higher than the same model at the BORG. It is certainly not the first place I would look for a bargain.

[Phil Hansen]

I have repented and erected a shrine in the shape of a plane in the front yard. I hope the Gods forgive me. (with your connections please put in a good word for me)

[Greg O]

True, Very true, but every so often you find nearly new tools for a good price, like a PC 352VS, 3x21" belt sander, for $30, a PC693LRPK, router kit, standard base and plunge baser, for $125. Sure not a great deal, but it was like new, and included about $100 in carbide bits. A Crapsman 16ga brad nailer for $25, likw new, and a PC7538 router for $125, also like new.

I have bought some other good finds also. I still make my pawn shop run every month, rarely buy any thing, but it keeps me out of the bars! Once in a while I find something I want and they have a rediculous price on it. I come back once a week or so, drop it on their counter and offer them $XX for it. I do it untill the item is gone or 'till I get my price. Greg

[nuk]

I've kind of wondered about this myself... I've seen some stuff there that was good tools, but pretty well used and not so well maintained, if you know what I mean, w/ an almost new price on it. I figured they probably kept the price high as long as possible, hoping someone would pay that for it, and just reduce things when they get tired of looking at them or people wanting to haggle.

nuk

[Andy Dingley]

But one should always look, just in case.

[Frank Campbell]

Your post reminded me of a place here in Vancouver that I used to go to many years ago, the guy had a store packed with stuff, he stood at the door beside a sign that said "No Browsing". You told him what you were looking for and if he had it he let you in, otherwise you were told to leave. It was always a challenge to get in just to look around, it really bugged him if you asked the price of something other than what you had told him you were looking for.

[Eric Anderson]

I am from the Detroit area. You would think that the personality you all are describing would be unique. It is not! Why does it bother them if you browse or if you say your are just looking? Many retail outfits LIVE on that principle. As far as deals. About 30 years ago, I bought a Teac 3340,

4 channel reel to reel tape recorder with 10 1/2 reels for $250 (as I recall, it was worth about $1500). It was like new. In the same pawn shop I saw items (microphones, tools, etc), as you all have pointed out, higher than retail. I would sure like someone in the business to explain this philosophy. It might help to explain some of the same mentality I am seeing in the real estate business now.

[Jolly]

I am a wood butcher who owns 3 pawnshops and I think I can answer one of your questions. Most pawnbrokers - myself included- are professional dilettantes who have a superficial knowledge in a variety of areas. Some pawnbrokers have genuine expertise in a specific subject but are woefully ignorant in most other areas. When I am on the prowl for tools I always check other pawnshops first. I buy most of my tools from a pawnshop in the next town - the man knows everything about musical instruments and nothing about tools. Sometimes the prices are too high and other times the prices are too low. I will not educate the man about tools - I would be shutting off one of my best sources.

Jolly

[Lobby Dosser]

I have a friend who claims the health of the economy can be measured by the quantity of Snap On tools in pawn shops.

[Robert Bonomi]

I'm not in that business, but the explanation _is_ fairly simple. The 'secondary' re-sellers price based on 'what they know' about the marketplace. If it is a piece they are familiar with, for which there is a 'mass market', they will sell at a 'significant' portion of list price, and offer to pay 'less than that', when buying, of course. With stuff that they are _not_ familiar with -- high-end, 'pro', stuff, for example, they don't have any real idea of the 'worth' of the pieces, *or* _how_long_ it will take them to find a buyer. Thus, they'll only offer to pay a 'pittance' (pennies on the dollar, or less) for the item -- finding _any_ buyer for *that* item is much more of a gamble than with well-known 'consumer' stuff, and price it 'to sell'. They're not interested in maximizing their dollar return, as much as maximizing the turn-over of the inventory.

[Kevin Craig]

You mean the stuff that looks like it's been lifted out of the back of a contractor's truck, by a laborer looking to score his meth for the day? Just the bare tool, no accessories? Dinged, dented, scuffed, and covered in paint/grease/drywall dust? That kind of stuff?

Either that, or the cheapest of cheap tools: B&D jigsaws that shouldn't sell for more than $15 at Wal Mart, 9" bandsaws that can be had at discount stores for $40, $30 Skil brand saws, etc.

Yeah, that's what I typically see here in the land of SuperChain SuperPawn SuperStores. Always priced at or sometimes above retail. That's what you get when pricing is set by someone browsing catalogs at headquarters.

Real mom-'n'-pop style pawn shops occasionally have something of interest. And they're willing to deal, more often than not. Quite unlike the commissioned "pawn specialists" at your typical SuperChainSuperPawnSuperStore. I seek out Mom (or Pop) whenever I go cruffling (a gun term), or tooling.

Kevin

[Jim Behning]

[George]

The type of client who brings things _to_ the shop may not be who you want in the shop. The same five fingers that lifted what he brings can work on what you've got.

Pawnbrokers have to consult some general reference to price items. I imagine it's MSRP on the internet.

As to real estate, it's the cost of money, not the cost of the footage that drives the market.

[Lawrence L'Hote]

One of the clerks in the pawn shop I frequent compares the cost that is marked on an item with what he finds on EBay. IMHO if you pay what an item is marked in a pawn shop without asking something like, "how much do you want for this?" or bargaining then you've probably bought a few bridges in the Brooklyn area before. Larry

[Phisherman]

One Saturday I decided to visit all the local pawn shops for tools. It turned out to be a total waste of time, plus emptied a tank of gasoline. The tools I did see and showed interest were worn and

60-80% of new cost. I have a more enjoyable time in my shop, and shop online for new quality tools. No more pawn shops for me!

[Tim Douglass]

Sheesh! Last time I checked the pawn shops around here they want

80-90% of brand new price for something that looked like it had been dragged behind a truck for a mile. Nail gun that was 299 at the Borg was 279 at the pawn shop, but the pawn shop one didn't have the case, was dinged all over, splashed with paint and featured a nice dent in the magazine. I've done much better on e*ay.

Tim Douglass

[J T]

Mon, Oct 18, 2004, 5:32am (EDT+6) [e-mail] (Phil=A0Hansen) claims: Maiden on her way to you. All charges prepaid

From Webster's Revised Unabridged Dictionary (1913) (web1913) Maiden \Maid"en\, a. 1. Of or pertaining to a maiden, or to maidens; suitable to, or characteristic of, a virgin; as, maiden innocence.

1. Never having been married; not having had sexual intercourse; virgin;

-- said usually of the woman, but sometimes of the man; as, a maiden aunt.

1. A woman so ugly none will have anything to do with her.

JOAT Flush the Johns.

- seen on a bumper sticker