Pawn Stars

I don't get two things about this pawn shop, but they probably speak more to how a reality show is 'staged':

- Why does Rick bring in experts to tell him, in front of the seller, that the item is worth 10 times what the seller wanted for the item ?!?

- How does Chumlee still have a job ?!?

I saw an episode of the History Channel's new show "American Pickers". It's more about guys scrounging antiques from out-of-the-way places; not so much of the 'history lesson' and uncovering fakes as Pawn Stars.

 

I'm hooked on American Pickers as well as Pawn Stars. American Pickers is great fun. Those guys have a blast, and it's cool to see the characters they meet and the stuff they walk away with.

 

love pawn stars, hoarders and american pickers.

 

My wife and I were talking about Chumlee last night. Personally, I think it is an act on his part to add some humor to the show. I don't think that guy is as un-intelligent as he makes out to be.

And does it bother anyone else that Rick seems to laugh an awful lot when talking to people that come into the shop and they are talking about a deal? Sometimes, it just isn't that funny.

 

Has anyone visited the Gold & Silver Pawn Shop in Las Vegas, where the show is filmed?

They have a website (gspawn.com), but it just features souvenir tee shirts, shot glasses and trinkets branded with the store's name. They have an ebay store, but it's a lot of 'junk'.

 

Yeah, I agree with you on that. I find it disrespectful. It's like he's laughing at these people knowing that he isn't even going to give them a tenth of what they want. I bet he's just thinking "fools" while he's grinning and laughing.

I mean I find the show semi-entertaining but it also ticks me off how low their offer is. It reminds me of before I started selling on ebay, back in 2002, I sold about 20 dvd's to a local pawn shop. Since I was kind of strapped for cash I took the offer of $22, .

I also miss the old History Channel. Gone are the days of my favorite shows, Tales of the Gun and Wild West Tech.

 

I have noticed that when he asks them how much they want, sometimes he will start at 50% of that number - if he really wants the item. In other cases, he starts way lower and the max he will pay seems to be about 50% of what they originally said they wanted.

 

I'll side with Rick on the low-ball issue. People don't go to a pawn shop to sell an item unless there's an air of desperation. It's the last resort for fast cash, and people really shouldn't expect to receive the same as if they sold the item on eBay, or even expect to get what a specialty shop would pay for the same item.

If you go to a guitar store to sell a used instrument, you'll get more money out of the item if you let them sell it on consignment, which means you don't get paid 'til it sells. If you want to sell it outright for cash today, the offer will be less. Getting cash right now is a convenience that has a value.

 

Rick is a great negotiator and he's trying to get an item for the lowest cost to maximize his profit. He always makes the point that what he buys, he wants to sell, even the stuff he really wants--it's all for the store. The amount of time an item might sit on a shelf drives his offers down, so he aims for the least investment/highest return. He's a shark, like most successful pawnbrokers. His inappropriate laughter and on-camera restraint only partially conceal what is probably a fairly cold and calculating man with not a lot but money on his mind.
I sort of like him, and have respect for his apparent expertise, but his persona seems forced. The old man's disposition and tough attitude make him interesting, but his negativity toward the rest of the crew is a turnoff.
Big Hoss is, to me, the least likable one on the show. He acts pretty spoiled at times. Chumlee...uh...uh...not really sure about him. He looks as stupid as he behaves. Maybe he's just there for comic relief and to shoot guns that might explode.

 

I don't have an issue with Rick's negotiations over price. No more than record collectors trying to find DCC Gold CDs for cheap in thrift stores (where the money 'saved' should be going to charity!).

The real ugly side of the pawn business is that his shop charges 10% per month interest on money loaned on pawned items!

"American Pickers", on the other hand -- these are antique dealers taking advantage of toothless hillbillies! They'll offer $75 for something they know they can sell for thousands of dollars!

Rick does not buy an item valued at $600 to sell for $600. He may price it at $600, but he'll take $500. He knows he needs to free up his money to make money. For example, if he buys that item for $300, it may take 6 months to land a buyer at full value of $600, for a profit of $300 total in 6 months. If, however, he sells that item to a bargain hunter who offers him $500 two months in, he can pocket $200 and has $300 again to buy another item. So he can make a profit of $600 total in 6 months (off three sales) off that original $300.

In one of those multiple choice questions that they show before and after the commercial breaks, the question was about how many deals don't get made at the pawn shop. The answer was 75%. They had another one on how many pawned items don't get picked up (meaning the customer doesn't pay back the store, and the store keeps the item). I forget the answer, but it was a lot lower than I would have guessed.

I recall an episode where a woman brought in a bunch of autographed Vegas show books, collected by her aunt, who ran a brothel. Autographs included the Rat Pack. Rick commented that one of them was signed by Hank Williams. Rick bought the lot for $400.

In a later episode, they had a multiple choice question on the most valuable autographed item currently for sale in the store. The answer was a Hank Williams signed Vegas show book, for $1,100!

 

They have the luxury of time to sell, whereas the typical visitor to the shop usually is moving and needs to sell NOW.

 

I have noticed that Rick, The Old Man and Big Hoss all try to low ball women more than they do men. It seems when a woman tries to squeeze an extra $50 or $100 dollars out of them, they stand firm but when a man does, they usually give in.

Personally, I like the show. It is indeed entertaing and Rick and The Old Man know their stuff. Big Hoss is still learning and makes some bonehead decisions.

I still wonder if some of the stuff is "planted". How often does something rare AND of historical significance come into a normal pawn shop? It seems every episode has at least 1 or 2 of these type of items. Also, I wonder if people travel to Vegas hoping to sell something to try to get on the show.

Anyone see the episode where a guy came in with 5 rare Pete Rose baseball cards that were counterfeit and tried to sell them to the shop? Rick saw right away they were counterfeit and the guy started cussing at him and stormed out. I laughed my *ss off on that one. There was another guy that tried to sell something (can't remember what) that was counterfeit (he didnt' know it was counterfeit) and he started to cuss at himself for being taken as a fool when he originally purchased it.

Another thing: Las Vegas sure seems to have "experts" in everything. It seems Rick must know everyone in Vegas.

 

Please site examples.

Vegas has *everything* thanks to degenerate gamblers losing their life savings at the casino. Lots of demand for appraisers in a city where peopel desperately need to sell stuff.

Rick only has about 10 experts. Vegas has 600,000 full time residents, plus something like 30 million tourists.

Personally I think Rick offers TOO MUCH MONEY, especially with the very limited experience I've had with Pawn Brokers.

He offers about 1/2 to 3/4 of the price he expects to sell an item for. Around here they'll offer 1/4 to 1/3 the price or they'll pass.

 

Can't remember specifics but I have noticed it more than a few times that they stand firm more often on their offers with women whereas they are more likely to cave a little with the men (even more so with the ones who have done their research and know the true value of what they are trying to sell.) Of course the item at hand and how badly Rick, Big Hoss, or The Old Man wants it has something to do with it too..

 

From week to week, the constant on the show....Chumlee IS a dumba$$; but entertaining!

 

IIRC, that was the fake flintlock pistol bought at an estate sale allegedly used in the Revolutionary War. Paid big $$$$ and his wife was mad at him for doing so and the actual value was $40-70 as a reproduction. There was another like this but it involved a fake Ford's Theater poster the night Lincoln was assassinated.

 

Yes, I remember both of those and it was the flintlock pistol that I was trying to remember.

 

You always have to be careful about objects claimed to be associated with historic events.

 

Or objects associated with movies. Did you see the episodes involving a whip allegedly used by Harrison Ford in Raiders of the Lost Ark and a saddle used by Kevin Kostner in Dances with Wolves?

 

Back in the late 80's I had very poor cash "liquidity" and had to pawn a '78 Gibson Les Paul Standard from time to time. I never wanted to sell it, iI just needed some cash till payday.

I remember they would only give me $37 on loan. Even back then it was worth close to a grand. I was a semi-regular and always paid my ticket, yet they wouldn't budge.

Pawn shops are all heartless bastErds. I did get a Mesa Boogie MKI with anvil case/cover and extension cab buy paying off a buddy's buddy's pawn ticket for $300. This was back in the day when you sent in a form with the features you wanted and they built it for you. It was tolex not wood, had the 60/100 watt switch. I wound up trading it some time later 'cause it was just too dang loud.

 

Chumley is a hoot! Rick can be pretentious, the Old Man is worth more than the stuff in the shop He deserves every dollar he makes!

I wonder about some of the stuff being planted too! My gut says most of the vehicles and boats are.

 

This is the way Pawn Stars was originally pitched:

http://www.youtube.com/watch?v=kh5BJ7N0PeQ

(Contains strong language; not safe for work)

 

That's more like it. I'd bet 90% of the customers in the shop are exactly like what is shown in this video!!

 

Unless there's documentation or provenance, it's just a whip and a saddle. And word of mouth is not provenance.

 

Precisely. Funnest yet was the man who had the keychain from Willie Nelson's Benz. Reminded me of the John Vought car from Sinfeld.