Pawn Shop Buying Advice

[wmg1299]

I was in the market for new lever action 30-30, and was trying to decide between a new Marlin 336 and a Mossberg 464. Many posts suggested looking for an older Marlin or Remington 94 at pawn shops. I visited a large chain in town, and was shocked to find prices for older guns, which did not look very well maintained, that were $100 more than a new rifle at Academy.
I wanted to know if I am just looking in the wrong place, or if my experience was normal. Are smaller pawn shops better, or are there any chains known to have better maintained firearms at more reasonable prices? Any tips or advice would be appreciated.

 

[Grizz12]

where are you located?

 

[Double Naught Spy]

Pawn shops are all over the board on the products that they have for sale and the prices placed on those items. Whether the products for sale are better maintained or not will not correlate with chain vs. non-chain stores. That will have to do more with the local economic situation of the area around the pawn shop from which it is apt to derive much of its customers and the decisions of the pawnbroker at the time of the pawn or purchase of the item from a given customer.

As always, prices are not fixed. You can negotiate. When all else fails, a flash of cash that you are willing to pay may help you get what you want at a price you are more willing to pay.

 

[carguychris]

Many posts suggested looking for an older Marlin or Remington 94 at pawn shops. I visited a large chain in town, and was shocked to find prices for older guns, which did not look very well maintained, that were $100 more than a new rifle at Academy.

I assume you mean a Winchester 94.

Keep in mind that older Marlins and Winchesters, particularly models without crossbolt safeties and Winchesters made prior to 1964, have significant collector value. If you are buying a rifle solely for its utility value and you're on a budget, I would suggest briefly researching the factors that make certain rifles collectible, and avoiding those ones.

Are smaller pawn shops better, or are there any chains known to have better maintained firearms at more reasonable prices?

Pawn shops run the gamut. Small, big, chain, independent- in my experience, it simply doesn't matter. The key thing to remember is that the prices are set by the management of that specific store based on local market conditions. Sometimes this means that certain firearms are cheaper than usual, but often it means the opposite.

HOWEVER...

Keep in mind that the amount the shop paid for a used firearm is generally only a small fraction of the asking price. Do NOT be afraid to lowball them.

It helps to offer to pay up front in cash, as pawn shops typically do a high percentage of their sales on layaway, and generally charge a premium for this- i.e. the price on the tag is often the LAYAWAY price, so you should ask for the CASH price, which will be lower.

Finally, I've gotten my best deals at pawn shops on purchases of multiple items, e.g. a gun, a DVD player, and a mini-fridge. The management may give you a good deal on one item in order to move another item that's been languishing in the store.

 

[45_auto]

My experience with local pawn shops is that the local "mom and pop" shops are VERY proud of their merchandise. Their prices tend to be close to new and they will sit on the stuff literally for years and not come down on their price. I believe that it's because any money that they don't get on a sale comes directly out of their pocket.

In contrast, the big chain pawn shops, where the clerks are making $10/hour or so no matter what happens, don't seem to care. They seem to like to move their merchandise, their prices are usually very good to start with, and they'll take any offer that's even remotely reasonable.

 

[CWKahrFan]

Prices on pawn shop items are just a starting point. They EXPECT to haggle!

 

[Double Naught Spy]

Keep in mind that the amount the shop paid for a used firearm is generally only a small fraction of the asking price.

In our stores, it often ran as much as 50% direct cost (price paid to the previous owner) on firearms, plus all of the other associated indirect costs of overhead (salaries, shelf time, loss, etc.). What the shop paid for the item is only a portion of the actual cost to the pawnbroker.

 

[FITASC]

Prices on pawn shop items are just a starting point. They EXPECT to haggle!

Exactly, and do not just accept their first or second counter offer, especially if it isn't something rare or collectible. If they have dozens of a common rifle in the racks, determine your "walk away" price and start low. If they just don't budge, walk away and go somewhere else. I did that with a shotgun one shop had. It was used (but in LNIB condition), but no box or the stuff a new one comes with and it was priced only $100 below NIB at $1300. I offered $1K OTD; the salesman calls the manager over and counters with $1250 firm plus tax and background. Said have a nice day and walked away. It's a common gun I can get from an online vendor for $1400, so why buy used at that difference?

Going to the pawn shop is a to like going to the gun show - YOU need to know what you're looking at and what your max budget is.

 

[wmg1299]

I appreciate all of the advice. I am in the Dallas area if anyone has any suggestions.

 

[Wat_Tyler]

My experience with local pawn shops is that the local "mom and pop" shops are VERY proud of their merchandise. Their prices tend to be close to new and they will sit on the stuff literally for years and not come down on their price. I believe that it's because any money that they don't get on a sale comes directly out of their pocket.

This has been my experience as well. Keep in mind, the type of person that opens up a pawn shop most-likely has a predatory mindset. They are buying things that other people don't want to sell but must due to financial irresponsibility. I don't think I would enjoy being someone that bought products from a struggling individual. You have to be fairly cold-hearted to do that. Since you don't mind ripping off the person who sold you the item, you won't have a problem ripping off the person buying said item.

They also seem to have attitudes when you start talking price. "No, I can't come down. This is a fair price." Ok dude, if you say $30+ for a box of .40 is a fair price when I can find it elsewhere for almost half that then good luck to you.

 

[carguychris]

I am in the Dallas area if anyone has any suggestions.

Check your PM.

 

[kealil]

I can personally state from experience that Pawn shops do run the gamut as others say. In my town, there are about 12 pawn shops that deal in guns. 4 of those are so seedy that I’ll openly admit that I’m scared to walk near them. 3 of them are the mom and pop situations like 45_auto mentions. 3 more seem completely random on their prices and their willingness to haggle. The last two I have built a relationship with because they are willing to haggle on basically everything and have great layaway for when haggling isn’t in the cards. These same pawn shops also seem to have dialed in my interests and call me nearly every week when something comes in that they think I “need”.
Needless to say, my other half doesn’t like them much

 

[Skans]

I've never had any luck buying guns at pawn shops. I used to peruse the pawn shops many years ago for good deals on guns. In general, this is what I found:

1. The guns they had were mostly junk - Jennings, Lorcin, old beat up revolvers (more crap), a smathering of well worn com-block guns, llamas, rusty pump shotgun, and old beat up hunting rifles.

2. The prices were beyond ridiculous, beyond absurd. When the pawn shop guy would shout "make me an offer", not wanting to get into an argument with them, I'd simply say "just browsing today" and leave shortly after that. "Just browsing today" was my nice way of saying "I don't have enough room in my safe for anything you even want to just GIVE me out of this shop."

3. The owners of the pawn shops I went to were blowhards, know-it-alls and con men. Maybe they aren't all that way or maybe there was something wrong with me. One pawn shop owner I remember, was an Amway salesman (doing a transfer for me) that was harder to get rid of than fresh road tar on a white shirt. That did it! I was done. YUCK!!! . That's about when I started going to gun shows. Thank God for gun shows and Gunbroker. At least at a gun show I can quickly escape the clutches of the wacko with a table full of $500 Hi-Points without having to ask to be buzzed out.

I haven't been in a pawn shop in perhaps 25 years. When I finally swore off pawn shops, my impression was that the owners were more or less hoarders who simply loved their junk way too much.

 

[Lavan]

I owned a pawnshop.
I was AMAZED at my brethren who could sell stuff ABOVE retail
Their explanation was that people who frequent pawnshops THINK it will be cheaper so they pay through the nose.

It is TRUE.

I never handled guns but jewelry proved that to be correct.
That and TV sets.

I sent ALL my jewelry to a jeweler to sell.

 

[Microgunner]

I love pawnshops and have purchased literally hundreds of firearms at stupidly low prices from pawnshops.
Of course this is from the pawnshops I've worked in for the past 27 years.
And I don't know what pawnshops some of these guys have frequented but we regularly receive some of the best firearms available. Big dollar stuff. It's just most of it is redeemed and what isn't is often kept in the back for ourselves and regular customers.
Don't like to put it out to get beaten up because, contrary to popular belief, we pay real money for quality arms.
After all, we are in direct competition with local gun shops.

 

[Skans]

...Of course this is from the pawnshops I've worked in for the past 27 years.... we regularly receive some of the best firearms available. Big dollar stuff. It's just most of it is redeemed and what isn't is often kept in the back for ourselves and regular customers.

These statements just validated my personal rule not to go inside of another pawn shop searching for deals on guns over the past 25 years. Thanks! Now, I know I didn't miss anything.

 

[Marty8613]

I appreciate all of the advice. I am in the Dallas area if anyone has any suggestions.

I am in the Dallas area. Stay away from pawn shops and go to gun shows in outlying areas. I've been in the same boat/market. Gun shows like Granbury or Tyler will have better deals than pawn shops. I'm hitting the next Granbury one to get a shotgun for my wife. Merl's shop there in Granbury has very good deals. Warning, Merl is famously irritable and irascible.

What area of town are you in? Maybe I can suggest an LGS.

 

[Snyper]

This has been my experience as well. Keep in mind, the type of person that opens up a pawn shop most-likely has a predatory mindset.

They are buying things that other people don't want to sell but must due to financial irresponsibility

Pawn shops aren't in business to "buy" anything at all

They make high interest short term loans, and the items are the collateral

What they have invested is the loan amount plus the three months interest LOST when someone doesn't redeem the item

They have license fees and other overhead that means they (logically) will charge what the items are worth, and not some drastically discounted price based on what you think they have invested.

I'm not sure why it bothers some if the owner decides to keep nice items for himself, since he did, after all buy it with his own money.

 

[Grizz12]

the type of person that opens up a pawn shop most-likely has a predatory mindset. They are buying things that other people don't want to sell but must due to financial irresponsibility. I don't think I would enjoy being someone that bought products from a struggling individual. You have to be fairly cold-hearted to do that. Since you don't mind ripping off the person who sold you the item, you won't have a problem ripping off the person buying said item.

They also seem to have attitudes when you start talking price. "No, I can't come down. This is a fair price." Ok dude, if you say $30+ for a box of .40 is a fair price when I can find it elsewhere for almost half that then good luck to you.

WOW, this is one of the most absurd statements I've read. Someone else covered the loan aspect of the pawn business so I will try to explain the business aspect.

If you don't turn a profit, you are not running a business, its a charity. Pawn shop owners DO NOT run around town looking for people who have been "financially irresponsible" and force them to sell their property to the shop at extremely low prices.

People go into the shops to sell stuff they no longer have a need for, period. Sometimes they will try to get a loan for the item with the idea of paying off the loan in "X" number of months and "X" % interest to get the item returned to them. The shop owner will offer a price to purchase for the item and the seller has the option to haggle, accept or reject the offer.

If the owner decides to keep something for himself, who cares, he already paid for it and he owns it, he is not obligated to sell anything.

If he keeps stuff in the back for friends or good customers, who cares, its his stuff to do with as he pleases.

The seller has plenty of options to sell ANYPLACE they want to sell, for any price they feel the item is worth, they are not forced to go to pawn shops.

People going into pawn shops are not forced to buy anything, they have the option to walk out and shop elsewhere.

 

[Skans]

I'm not sure why it bothers some if the owner decides to keep nice items for himself, since he did, after all buy it with his own money.

I'll bite - it is one of many things about pawn shops that bother me. Bothers me enough to where I won't go into pawn shops anymore. Either they are running a business selling things or they ware wasting time pretending to run a business selling things. Anyone can buy junk anywhere, and if they educate themselves just a little, they can buy junk a lot cheaper than I've ever seen it in any pawn shop.

Gun stores are at least in the business of selling guns - good, bad, ugly, whatever. Most people at gun shows want to sell their guns. Most of the people on Gunbroker want to sell their guns, collectible or otherwise. So the moral is, if you are looking for a lower end used pistol or beat up non-collectible firearm, and want to pay retail or above for it, flash your Benjamins at your local ABC pawn shop. Because, like others have pointed out, the owner peals off the good stuff for himself, but will surely have a "great deal" for you on a really nice Glock 17 with a little Bubba stippling on the grip and a slide that was polished bight and shiny on a buffing wheel.

Clarification: I don't care if the pawn shop guy makes money making high-interest loans and taking in "stuff" as collateral - that's just business and I'm all for business. They are risky loans to risky people and the guy doling out the money should be handsomely compensated.