How do pawn shops work? how much do you get?

Discussion in 'Off Topic' started by BillyBatson, Aug 9, 2006.

  1. BillyBatson

    BillyBatson Diamond Member

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    I have a pair of .62ctw diamond white gold earrings appraised at $2050 and were $1000+tax at costco. I have it on ebay right now never worn for $600 starting bid for 5 days with 45 mins left! but no bids and i do not think anyone will bid.

    so if i took them to a pawn shop how does that work? roughly how much do that pay as in what percentage of the original item cost do they provide, is there anythign you would have to fill out, ID, etc?
     
  2. Ronstang

    Ronstang Lifer

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    Prostitutes not only end up being much more cost effective they don't cause you emotional stress.
     
  3. MercenaryForHire

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    Maybe 25% cost, photo ID, expect a lot of questions for pawning jewelry.

    Also, relist it on eBay first. :p

    - M4H
     
  4. JS80

    JS80 Lifer

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    pawn shop is basically a collateralized loan at a really high interest rate so that you're effectively selling the item to the shop for a deep discount
     
  5. MX2

    MX2 Lifer

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    Pawn shops are in the business to make money over and over again. They will give you approx 1/4 of what its worth as a used item.
     
  6. iamwiz82

    iamwiz82 Lifer

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    25% of the street value, not purchase price.
     
  7. BillyBatson

    BillyBatson Diamond Member

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    1/4!!?!?!? $250 for $1000 earrings is horrible! i thought they might at least pay 50%!?!

    i don't think relisting them would help, i even looked at MANY other similar listings especially those that had actual bids and they did not list any info or add anything to the auctiont hat i didn't. i also already did the whole picture, gallaery, abd bold listings so it isn't like i could do anything different if i listed them a gain
     
  8. HomeAppraiser

    HomeAppraiser Platinum Member

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    Can't you just return them to Costco?
     
  9. iamwiz82

    iamwiz82 Lifer

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    FYI, I'm finding 3/4ctw solitaire studs for the same price.
     
  10. Mermaidman

    Mermaidman Diamond Member

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    Buying expensive jewelry from a private seller on eBay seems iffy--I would hesitate myself.

    I wonder if a consignment store would work for you?

    If nothing works, give them to someone for whom you really care.
     
  11. BillyBatson

    BillyBatson Diamond Member

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    no, i do not have the receipt and paid cash, so they will give me store credit but i need cash
     
  12. BillyBatson

    BillyBatson Diamond Member

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    really? the clarity or color could be lower than the ones i have thought? mine are minimum VS2 and I color

    what is a consignment store ? i purchased them back in december expecting to give them to a girl but i never did. my sis said to give them to my mom but i need money for a down payment for a car =\
     
  13. GuitarDaddy

    GuitarDaddy Lifer

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    Yep, jewelry in general has horrible resale value unless your talking true investment grade diamonds. And I highly doubt a pawn shop would give you $250 for it, more like $150. Pawn shops are for the extremely desperate, and for thieves to fence stolen merch.

    And selling jewelry on eBay is also tough unless your an established jewery seller or jewelry store.
    Your best bet will be something like a gold & silver exchange or a private jewelry store that deals in consignment and/or used pieces

     
  14. jonessoda

    jonessoda Golden Member

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    Couldn't pay the hooker and now the pimp's after your legs, or you just need a couple more hits of blow before you hit Betty Ford?
     
  15. Mermaidman

    Mermaidman Diamond Member

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    It's a store that sells your items for you in return for a fee. Look in your Yellow Pages under consignment. These places usually sell clothes, jewelry, furniture.
     
  16. BillyBatson

    BillyBatson Diamond Member

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    what would i look up online/yellow pages? consignment store? Jewlery and then look for somethign that says consignment?


    lol no i have never met a hooker to my knoweldge and i have never done drugs, i am trying to get as much money as possible for a down payment on a car
     
  17. intogamer

    intogamer Lifer

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    Return to Costco get Gift Card... resell 10% off?
     
  18. BillyBatson

    BillyBatson Diamond Member

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    LOL i had not even thought about that!!!!! is that possible? would i be able to sell a gift card easier?
     
  19. Mermaidman

    Mermaidman Diamond Member

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    Yes, there is actually a category for "Consignment" in the paper phone book (OMG-Paper?! What is this paper?)

    Or go online: http://yp.yahoo.com/, plug in your city, and search 'consignment.'
     
  20. Drakkon

    Drakkon Diamond Member

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    i took in a gold chain to my local pawn shop. Cost $500 new (on sale from 800). they gave me $100 for it. nothing to fill out. nothing to id. just gave me the cash and i went on my way.
    then i went in on a later occasion and bought a practically new miter saw for $20 that i saw in sears for $300 :)
    i love pawn shops...nothing like turning over peoples stolen goods to keep the circle of criminals going.
     
  21. BillyBatson

    BillyBatson Diamond Member

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    lol i have only been to 2 pawn shops back in the day and it was because my friend was looking for antique/old electric guitars, i looked at the jewelery and the watches and MAN were they tacky and ugly, nothign of quality was out
     
  22. BillyBatson

    BillyBatson Diamond Member

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    item just expired on ebay, no bids =\
     
  23. JS80

    JS80 Lifer

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    Look this is how pawn shops work. You take them your "$1000" earrings, and they'll offer to let you borrow $250. So you're borrowing $250 at an extremely high interest rate. The only way to get your earrings back is to pay the $250 + interest. Usually the juice is so high that it's not worth claiming the item back, and most people don't usually because they're not there for a loan in the first place.
     
  24. phatj

    phatj Golden Member

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    return to costco sell gift card (ur store credit) on ebay for ~80% (so get back $800 from ur oriinal 1000)
     
  25. bctbct

    bctbct Diamond Member

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    best option