Negotiating at a Pawnshop

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Admin

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November 7, 2019

Pawnshops, unlike most secondhand stores, let you do something called "negotiation." Negotiation is when two people have a discussion based on

reaching an agreement. So, for example, if you went into a pawnshop wanting to buy a piano and you wanted to pay $150 for it, but the pawnbroker

wished to sell it to you for $250; you would discuss different amounts in between both of your offers until you agree on the same price. You may be

thinking that there isn't much to negotiations or anything you can do to get a better lower price on an item you want, well... I'm here to prove you wrong.

There are so many tactics out there and tips that it may even be easier than you thought when wanting a better price. When you read this article,

you should always remember that in order to get the best price, you will have to understand a pawnbroker's body language and personality.

Some pawnbrokers will be very stubborn, and you might not be able to get them down to the price you want, but hopefully, with these tips, you can

still get a better price than you thought you could. So let's get started.


Does a pawnbroker's first impression of you matter?

Giving a good first impression is probably one of the most important things you can do when you are searching for a good deal at a pawnshop.

Why? Well, just like in any other situation, the first time someone sees you is what comes to mind when they have to socialize or interact with you.

First impressions will determine the way you are treated and whether a person wants to be around you in the future. Let's take a second to think of this,

you go into a pawnshop knowing what you want to buy and how much you want to spend on it. When you walk over to the pawnbroker you get nervous

and boom everything you thought you knew about negotiation is forgotten. Well, there's no need to worry, it's not as stressful as you think. A

pawnbroker is a regular person just like you and can be persuaded just like anyone else. The best way to think of it is to put the pawnbroker

in your shoes as if you are were the one selling a valuable item to a stranger; you're going to want to get a good deal from it, right?

But what about when it comes to a friend? If you tried to sell the same thing to a friend, you'd be more likely to give them a better deal as long

as you get some profit from it as well. First impressions can decide the opinion the pawnbroker has of you. If you walk in with a smile and

introduce yourself to the cashiers and pawnbrokers, they will feel better towards you and feel like they have a closer connection.

Make sure also to ask the pawnbroker's name and continue to use it within your conversation. It is natural for someone to have more respect

for you when you remember their name first try. 


How to start a negotiating at a pawnshop

Make sure to do your research before you walk into a pawnshop, for example, let's say you wanted to buy a Fender Frontman 10G Guitar Combo Amp.

You will need to know how much it sells for new and how much it sells for after it has already been used, so let's get an idea of what we are looking at here.

If we go to amazon and look up the same amp, it is worth around $59, not including tax, but it is only sold on eBay for around $37. In the pictures below,

you will see both the amazon and eBay website when I looked up the amp on their website. It is essential that you also only look at the specific type

and brand that you want to buy from the pawnshop because each brand will be different in cost and types will range as well.

 Brands can be the difference of 100’s of dollars. Now we can see that the amp on eBay is selling used for a little over half of the price

of the one that is new on amazon. Keep in mind some pawnshops like to get at least half of the amount the item costs new, and they will

also usually start their compromise at a price higher than that, knowing that you will try to negotiate with them. Make sure to start your original

price low enough to be annoying but not low enough to be an insult; that way, you know you got your amp or item at the best price possible.

For this particular amp, I'd offer them $22, knowing that It will probably be raised $7 to $10 more than my asking price. They may offer to sell it to

you for $38 or $40, and you would slowly start to raise your price until you both come to an agreement in the middle of both amounts, so I'd say

around $30. If you plan on buying two separate items, you would want to do this and negotiate both items together. Combine the prices from your

research online and begin to raise rates of both items together slowly. Every pawnbroker is different, but they will usually treat you the way you

treat them and be easier to persuade if you use kind words and show them respect. One way to get good deals is by being a returning customer

and showing them it's worth their time to negotiate with you, especially because they know you'll be coming back. When you begin to negotiate,

start with a question like, "Hi, how are you today?" Also, make sure to be happy and uplifting with your tone of voice. Another helpful and wise tip is

if you plan on buying a large bundle around five or more of the same product, try to get the price down lower than you would usually get them if you

bought them individually. Pawnshops usually lower the price when they know you are going to be spending a lot on a larger variety of items. 


Are there items in a pawnshop that I can buy cheap and resell online for a better price?

This is a common question that is asked by a number of people, and your answer, put simply is yes, but do I advise it? Well, that depends on what

sort of expertise you have in selling products online. A YouTuber named Casey from RockstarFlipper has a youtube channel dedicated to buying

products at shops and selling them online. Although he doesn't always shop inside of a pawnshop, he chooses them over other stores a lot. In his

videos, he goes to stores to find valuables that sell for really cheap so he can resale them online, and sometimes he will double or triple his profit.

But as I said, you would have to know what you are doing. It may look easy watching his videos, but he has had a lot of experience and already

has an excellent reputation with his eBay products. He also helps guide others who want to achieve the success that he has with their products.

While most of the items he buys include video games and systems, he also keeps an eye out for things that are trending in the marketplace.

If you plan on reselling items like Casey, negotiation is going to help you a lot, especially if you plan on making a profit.


Thank you for reading our article “Negotiating at a Pawnshop” If you are interested in selling or buying items from a pawnshop Xtreme Pawnshop is the place to go. You can call us at (801) 876-1379 to get a quote or contact us online for any questions. 


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