Anyone has experience with Pawn Shops?
Posted in the Buffalo Forum
#1 Feb 9, 2013
Hi Buffalo forum!
I have never done this before but I'm looking pawn a watch I have. It's worth about $2,000 new and I know I won't get anything near that.
Does anyone know the approximate fees I will be looking at? Also would I be paying NY sales tax when picking up?
Just trying to figure out if it's worth it?
#2 Feb 9, 2013
Put the watch on ebay or Craig's list and you will get more for it
I deal with pawn shops all the time, buying, selling and trading guitars, amps, and guitar effects. I have gotten some pretty good deals.
This is how it works with guitars and amps- Some guy thinks he wants to learn to play guitar, so he runs out and buys a guitar and amp new. He pays about $350 for the guitar and about $250 for the amp. He takes a few lessons and he gives up. He goes to the pawn shop. He gets 50 bucks for the amp and 30 bucks for the amp.
The pawn shop sells the guitar for $150 and the amp for $150. Nice profit.
Pawn shops also buy and sell a bunch of stolen stuff. Things like jewelry are hard to identify, so it is rare that the they lose money because the cops recover the stolen stuff. Same thing for other stuff because people rarely record their serial numbers
#3 Feb 9, 2013
I also want to get it back though. I will be picking it up in like 2 weeks.
Would I pay NY sales tax when I pick it up? If I get let's $500, paying an extra $40 in addition to the fees makes no sense to me :/
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