Where do Pawn Brokers get their pricing?

Discussion in 'Australia Photography' started by Justin Thyme, Jan 31, 2005.

  1. Justin Thyme

    Justin Thyme Guest

    Decided to have a look in a couple of pawn brokers today, just to see what
    they had in the way of lenses, bodies etc. I only took notice of the Pentax
    & compatible equipment since that's what i'm after.
    Cash Converters had a few Pentax MZ-50's and MZ-60's in various physical
    condition, mostly with sigma 28-80's although one had a pentax 28-70. A new
    60 can be had at camera-house just up the road for $299 with a sigma 28-80
    lens, and $499 for a twin lens kit. Prices at Cashies however, were ranging
    from $289 for one that looked trashed, through to $499 for the best looking
    60. Then I spotted a Sigma 100-300 lens. Camerahouse had one of these new
    for $189. Had a look at the one at cashies - it had fungus starting to grow
    on it, a few scratches on the front element, quite a collection of dust
    inside, it's focussing mechanism felt "sandy", and the aperture was stuck
    fully open. Their asking price was $249. I told the guy that camerahouse had
    it new for $189, pointed out it's flaws, and offered him $50 (probably a
    little high considering the condition, thinking about it since I probably
    should have only offered about $10), so he disappeared for a few minutes,
    came back and said the best he could do was $175. I laughed and left.
    Then off to another pawn broker a little up the road, no near new models
    here. Their only Pentax compatible camera was a fully manual Hanimex DR-1
    super with a Hanimex 50mm F2 lens for $399 - I have one of these that I
    bought new many years ago, and it is a good camera, but there is no way a
    fully manual 2nd hand camera is worth that sort of money these days. I paid
    less than that for mine, new.
    So, how do pawn brokers work out what they are going to sell gear for? How
    do they manage to sell 2nd hand crap gear, at a higher price than the stuff
    can be had new?
    Justin Thyme, Jan 31, 2005
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  2. Justin Thyme

    [BnH] Guest

    A database of a very outdated RRP prices ? :D

    [BnH], Jan 31, 2005
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  3. SNIP> So, how do pawn brokers work out what they are going to sell gear for?
    By definition secondhand dealers are cheaper than shops with new gear so
    they can charge what they think the gullible customer is willing to part
    with. They probably tell them that the goods are fantastic quality which new
    stuff can no longer equate, etc, etc, etc.
    It s a bit the same as ebay. You see it time and again people bid on an item
    and get carried away and end up paying more than new prices even for
    secondhand stuff.
    People want to be fooled!

    Gerrit 't Hart, Jan 31, 2005
  4. Justin Thyme

    Ryadia Guest

    Justin Thyme wrote:
    In a time long ago I worked for a pawnbroker valuing power tools and
    photo gear, no less. The fellow I worked for told me the trick was to
    pay as little as possible but not so low they won't come back when
    pricing to loan money on and "just use the advertised specials prices
    less 10%" for selling prices.

    The theory was that "retail" was always much higher than the "street
    price" and was to be quoted on the price tag so people could see how
    much they were saving. I thought he was a crook when he bought a Nikon
    camera and lens kit for $150 then re-sold it a week later in pieces. He
    got $500 for the camera body!

    I don't ever remember Cash Converters ever claiming they were cheap...
    That'd be false and misleading advertising under the TPA. The Guy I
    worked for came to Oz with $8000, got a PB & SHD license a week after
    arriving and bought his first house 3 months later. After a year he had
    3 houses and a full showroom. You simply cannot make that sort of
    serious money from 8 grand and not rip into the public as if they were
    victims. Compared to Cash Converters, this guy was an angel.

    Ryadia, Jan 31, 2005
  5. Justin Thyme

    Warmingup Guest

    Neither a borrower nor lender be,

    For loan oft loses both itself and friend,

    And borrowing dulls the edge of husbandry.
    Warmingup, Jan 31, 2005
  6. Justin Thyme

    Marty Morgan Guest

    "Pawn Brokers are for loosers"

    But what about tighters?
    Marty Morgan, Jan 31, 2005
  7. Justin Thyme

    Warmingup Guest

    Bloody "Spell checker" should also do the Subject line......
    Warmingup, Jan 31, 2005
  8. Justin Thyme

    viz Guest

    It does on a Mac ;)

    viz, Feb 1, 2005
  9. Justin Thyme

    Jim Vatunz Guest

    A spell checker isn't going to pick up on that. Consider too the
    amount of "there" being used when "their" or "they're" might be far
    more appropriate.
    I wonder how bad the writing of this "looser" generation is without
    the spell checker correcting the obvious.
    Of course the spell checker must do wonders since the "loosers" of the
    world seem to be able to at least enter university.

    For a very plain website try
    Jim Vatunz, Feb 1, 2005
  10. Justin Thyme

    gringo Guest

    I've never understood how these places make in any money - I look and
    laugh - after so many attempts at looking, now i don't waste my time.
    gringo, Feb 1, 2005
  11. Sometimes they are OK.
    3 simple rules:

    1 know WHAT you want.
    2 know HOW MUCH you are willing to fork out.
    3 BARGAIN like you were in Asia!

    Gerrit 't Hart, Feb 1, 2005
  12. Justin Thyme

    D. Guest

    Another rule of thumb; the pawnbrokers have around a 400% or more mark
    up. eg He buys for $50 and sells for $200. They have plenty of room
    to discount. If the stock hasn't moved in a while, odds on they'll take
    an offer.
    D., Feb 1, 2005
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