2007-01-23 09:00:19 · 21 answers · asked by bird 67 2 in Entertainment & Music ➔ Polls & Surveys
Are you kidding? They are the loan sharks of the drug world...
People bring them items to "loan" for a tiny fraction of what they are worth, then have to pay interest on the "loan" to get their things back...
Most people that pawn stuff have stolen it anyway, and just want the cash to use however...
The pawn brokers then sell the items that people have not come back for for exorbitant amounts compared to what the people originally received for them...
2007-01-23 09:10:45 · answer #1 · answered by purplepartygirrl 4 · 0⤊ 0⤋
If you pawn a 600$ TV you might get 100$. After a month you pay 60$ for the loan and an extra amount to get it back, it is more than you got when you pawned it. I know someone who paid several fees then let the item stay, abandoning it. It sold later for about 390$. The pawnshop got 4 months worth of fees plus the sale value.Not bad for 100$ investment!
2007-01-23 09:07:03 · answer #2 · answered by Terrania 3 · 1⤊ 0⤋
With Ebay, pawn shops will find it more and more difficult to turn a profit. On Ebay, you can buy or sell at true market costs; pawn shops derive profit by buying below market and selling above market.
2007-01-23 09:07:08 · answer #3 · answered by Irish Eyes 4 · 0⤊ 0⤋
A lot of people pawn things when they are strapped for cash, and they are lucky to even get half of what the item is worth. Most of these people never get the money to recover these items, and therefore, the pawn shop sells them for way more than they paid.
2007-01-23 09:04:22 · answer #4 · answered by liberpez 5 · 1⤊ 0⤋
Getting a little bit of money from everyone makes big profits!
2007-01-23 09:02:37 · answer #5 · answered by ╦╩╔╩╦ O.J. ╔╩╦╠═ 6 · 0⤊ 0⤋
By giving the desperate people who pawn their items a fraction of what the item is worth and then selling it for a much higher price.
2007-01-23 09:03:16 · answer #6 · answered by Donna T 6 · 1⤊ 0⤋
They buy peoples junk for dirt cheap then sell that junk to other idiots who want to buy that junk for more then they would have to spend in a regular store bec they think if it it says pawn shop it means it has to be cheap lol.
2007-01-23 09:10:03 · answer #7 · answered by Me 6 · 0⤊ 0⤋
They lend money to people as a 'pledge'. To get the money you have to deposit an article of value. If you redeem your pledge you pay the money loaned plus interest. If you don't the shop keeps the article and sells it.
2007-01-23 09:06:29 · answer #8 · answered by quatt47 7 · 1⤊ 0⤋
Buy Low, Sell High.
They buy your product for dirt cheap and sell it at double what they paid you for it. It is like retail just with higher mark up.
2007-01-23 09:05:30 · answer #9 · answered by zambeff 2 · 1⤊ 0⤋
People don't come within the time limit to repay ,then the goods are sold with high profits.
When you pawn something you hardly get anything.
Rob.
2007-01-23 09:04:31 · answer #10 · answered by Anonymous · 1⤊ 0⤋