The misconception that a lot of people have about Pawn Stars and basically any pawn shop is that the moment that the paperwork is done and the pawnshop takes ownership of the item(s) that are being sold to them, there’s still a waiting period that has to be met before they can put the merchandise on their shelves. This is Nevada law at least since it might be different in other states unless this is a universal law. In some states, it might be 30 days, while in others it might be upwards of 90 days before they put the stuff out for sale. There are a few reasons for this, and one of the most obvious has to do with the authorities since it has to be established if the item has been stolen or not, in which case the shop can’t even sell the item but has to turn it over to the police and simply be out whatever money they paid for it. Another reason is that the seller has a chance to change their mind and buy their goods back, which does happen from time to time. The thing with this however is that a lot of shops can charge an interest rate for holding the goods, which means even if they have to sell it back they’re still making a little bit more on it.
But the main reason why a shop can’t put a FOR SALE sign on anything they get the moment they get it is because it’s not legal. The waiting period that is required is non-negotiable, which is why there might be times when pawnshops have a stack of inventory in the back or in a warehouse that they need to unload. Some shops might buy and buy and buy and only get to start turning a profit one to three months later if they can sell the goods. The chances are good, great actually, that they’ll mark the items for far more than they paid, as this is how they make a profit. There are definitely times when someone might scoff at the price since a lot of pawnshops will attempt to sell items at what the asking price was when they were new, which is kind of ridiculous even if it is understandable. These shops are out to make a profit after all, which means that they’re going to try to get what they can out of each item they buy. But the trick is that they can’t turn around and make an instant profit that quickly since they have to follow the rules of the state in which they’re located, and at times they have county rules to follow as well. Being a pawnbroker doesn’t mean that a person gets to buy everything they can and then make an enormous profit in a short amount of time, as this is a business just like anything else.
It’s a little comforting to realize that a person can go back and buy back the item they pawned since there are likely a lot of people that might pawn certain items when they need money without thinking that they’ll ever get a chance to get the item back. Too many people still don’t know that pawnshops can give loans as well as buy items for money, and there are times when a loan can nab them more money than they might get if they sold the item. The trick with that however is that a loan has to be paid back, and it’s going to be collecting interest until it is paid back in full. This is a great thing but also the danger of a pawn shop since they’re great when a person needs something or has something they want to sell for money. But one thing about pawnshops is that they don’t take junk. If they say they’re not interested in what a person has to offer then it’s usually safe to assume that the item has little if any real monetary value. Sad to say, the intrinsic value doesn’t work on a shop’s shelves since they can’t get their money back, and that’s bad for business. Plus, they’re usually in the business of knowing quality products from fakes, so bringing what you happen to think is an expensive item might backfire since there are a lot of different ways to authenticate a lot of different things. Jewels and precious metals are the types of things that a lot of people think that they’re going to get big bucks for, and if a person is extraordinarily lucky they might have a one in a lifetime type of find on their hands that a shop owner might actually want and be willing to pay for.
But a lot of times, the stuff that people bring in will be worth a few bucks, but not much more.
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