How much is my xBox360 worth at a pawn shop?

                                                                    

How much is your Xbox 360 worth?  There are a few ways to sell your Xbox 360 all will work with some patience.  Lets walk through the most common ones.

eBay
Craigslist
Gamestop
Pawn Shops
      

Thousands of  Xbox 360's sell on eBay, but selling on of eBay is difficult.  As this article is written there are over 7,000 consoles for sale.  eBay seems to go out of it's way to make selling hard.  First you have to sign up with a credit card.  Then getting your money is tedious as eBay only wants you to use their checkout system, PayPal.  I won't go into the problems with PayPal suffice it to say that the buyer has much more protection than you.  eBay is rife with scam artists with little recourse on your part.  Even if you do everything right the buyer can lodge a complaint with you and renege on their payments.  Because of the shipping costs, eBay fees and PayPal fees involved you will not get very much from an eBay transaction.

Craigslist is whole other animal. As a Pawn shop we have to deal with Craigslist on a daily basis.  We hear the horror stories of dealing with idiots and criminals or worse.  You should have to have a license to sell or buy anything from Craigslist, I would never want my children to use it.  Going to a meeting with stranger where they know you will have either merchandise or cash is an invitation to disaster.  Please use great caution with Craigslist.  Now if you have a store where people bring you stuff from Craigslist, that is completely different.  We buy and sell like that many times per day.  Xbox 360's from Craigslist have a market value of $100-$175 dollars for the consoles.  The games vary widely in worth but can reach up to $25.

Gamestop is probably the worst choice for selling your Xbox 360. We called the local Gamestop this morning to see what I could get for an Xbox 360 Arcade system and they told us $64 dollars or $80 dollars in store credit. That is not even decent value, you might be better off getting that tattoo from the in trade from the guy on Craigslist calls us 3x a week.

One of your best solutions is to call around to your local pawn shops and inquire what they would either pay or loan you for your Xbox 360.  Your console is a valuable possession and pawn shop are your only way to get money for it and not sell it.  Our pawn shop isn't that much different from some we know and if you brought in an Elite system to us you could get $150 loan in under ten minutes.  When you want it back two weeks later it will cost you $15 in interest.  Or you could get up $250 to sell it outright depending on how it is equipped.  Safe transaction, money in minutes.  Hope that helps you make a safe choice.  You can always call us.

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This is how they pawn in the UK

SpeedSell is the simplest way to sell Apple Mac, sell Xbox 360, sell PlayStation 3 and sell Wii consoles

More Art, Vintage Guns, and where are all the Wii's

So we got some real art in this time from DL Rust four of his Emmitt Kelly Collection -- Erie, Pennsylvania, native D.L. "Rusty" Rust is an artist with a repertoire as extensive as his talent. An immensely prolific painter, Rust adeptly renders intriguing camouflage wildlife scenes, landscapes, seascapes, still-life's and portraits. His work is part of many prestigious collections, including the Smithsonian's National Portrait Gallery, the Ringling Museum of the Circus, and the Norman Rockwell Museum in Philadelphia. Among those prominent people Rust has painted are famous clown Emmett Kelly, Sr., Ringling clown Lou Jacobs, Mamie Van Doren, and Norman and Molly Rockwell. In addition to his fine art career, Rusty has also done extensive work in the field of book illustration, completing commissions for Reader's Digest, Wildlife Art News and Windsor Publications, Inc., to name a few. Working mainly in oil on canvas, this enormously popular artist has produced work for use on a large range of products, including calendars, mugs, and collector's plates. He also pioneered the concept of limited-edition original paintings and has done many such editions featuring clowns and wildlife. The artist now resides and paints in Sarasota, Florida.  These painting are all limited edition oils that are signed by Rusty himself.  Very cool., thanks to Lou for bringing them in.

this one in particular is very rare as it is 48x36 the auction book on it is $7000.00 going here for $4500.00

this set of three are 20x24

This is rarest of them all number 2 of 50 ever produced only $750 book value of over $2,000.00.

As for the guns we carry new guns but the interesting ones are the guns that come in off the street here are some coming out soon......

See and download the full gallery on posterous

See and download the full gallery on posterous

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Des Moines' Pawn Shops Refuse "Stolen" Items - WHO

UNDERCOVER PAWN: Des Moines' pawn shops refuse "stolen" items

Aaron Brilbeck Staff Writer

February 11, 2010

DES MOINES - Back in November, several teens were charged with ransacking homes on the South Side of Des Moines. Police believed some of the things they stole, like laptop computers and other high end electronics, could have been pawned off.

So we wondered how tough it would be for teens equipped with a hidden camera to try to pawn off about $2,000 worth of home electronics for about $100. The good news is none of the pawn shops we went to took the bait. The bad news is none of them called police.

At Des Moines Gun and Pawn a man who later identified himself as the owner can be seen on the hidden camera looking through the box of electronics, but doesn't buy. "What else you got? Camera I won't do. Laptops I won't. Car stereo no too," he said. He suggested our undercover teens go somewhere else. "Try A-to-Z, Second and Euclid right on the corner," he said, "They might use some of this stuff." So we confronted him, wondering why he didn't call police if he suspected the goods were stolen. "It's my business. I know what I'm doing... I'm not judge and jury," he said.

That seemed to be the case with other area pawn shops too. At Mr. Money the clerk seemed more concerned about chargers for the lap top computers than whether they were stolen. When we confronted her, she admitted the electronics looked stolen, but would not call police. "Um, I didn't call police. I can't assume it's stolen. I can only not take it," she said.

At U.S. Pawn, the owner was also suspicious, asking the teens on hidden camera, "Where'd you get all this stuff?" He apparently wasn't satisfied with the teens' answer and sent them away, but did not call police. When asked why, he replied, "If I called police every time I was suspicious they'd just have to put a police station in here."

Des Moines Police admit it's difficult to prove someone is bringing stolen goods into pawn shops, even if the merchandise clearly looks stolen. Sgt. Dave Murillo heads up the police Pawn Shop Task Force. He said "They could call all day and it wouldn't do anything." The problem is, Murillo explains, without an identifier like a serial number there's no way to prove an item is stolen and no way to track the victim. He said most people don't bother to get serial numbers. "What's the serial number on your lawn mower?" he asked as an example.

Murillo admits logging serial numbers on valuables could help get them back if their stolen. But don't expect pawn shops to help much. They aren't required to call police if they suspect stolen items are brought into their stores. And, Murillo added, generally the stores don't have the time to deal with stolen merchandise or call police. "They don't want to lose money," he said, "Time is money. So they shoo them off."

Copyright © 2010, WHO-TV

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via whotv.com

There just is no winning local TV station sets up a sting and not a single pawnbroker buys it. But because they didn't call the police they have "bad morals", WTF.

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During desperate times, Mexican families turn to 'Aunt Pity'

There are worse places for a Mexican family to hock its jewels than the national pawnshop, headquartered atop the ruins of the Aztec emperor Montezuma's residence in the heart of the capital.

The pawn palace, built of volcanic stone and eccentrically renovated over the past five centuries, once served as the treasure house for conquistador Hernando Cortés. Today it is where Mexicans trade in their wedding rings to pay for their children's school uniforms.

Ordinary desperation brought Evelia Medina to the Nacional Monte de Piedad, literally the National Mountain of Pity. What she needed was some quick cash. In her hand were two slim gold chains and a ruby teardrop ring. Due last week: her telephone bill.

"I would prefer not to give my jewelry away, but what is the alternative?" Medina said. The 43-year-old mother of three, who works as a secretary to a notary, was counting on a $150 loan, which she planned to repay by March. Or maybe April.

"Toys," she said. "They cost a lot." A Christmas shopping spree had killed her budget and brought her to the end of a long line to wait for an appraiser to tell her what her trove was worth.

The National Mountain of Pity is the cash shack of first and last resort for millions of Mexicans -- an estimated one in four families gets a micro loan -- and the business of bailing citizens out of their financial jams is booming.

"I would call this unprecedented growth," said Gustavo Méndez Tapia, spokesman for the enterprise, which many Mexicans call simply "the Mountain," or sometimes "Aunt Pity."

In 1990, the pawnshop had a few dozen branch offices scattered across the country. Now it has 169 outlets, and by year's end there will be 272.

Mexico's economy shrank about 7 percent in 2009, victim of the triple whammy of a swine flu epidemic, falling oil prices and global recession, marked by the sluggish spending of the country's top trading partner, the United States. In January, Mexico's annual inflation rate rose to 4.17 percent. The Central Bank reports that remittances from Mexican workers abroad, mostly in the United States, plunged almost 16 percent in 2009 compared with 2008, a record freefall for Mexico's second-biggest source of foreign capital, after oil.

Meanwhile, consumers' purchasing power has fallen by 41 percent during President Felipe Calderón's tenure, even as a slight uptick in the minimum wage (to about $4.60 a day) was overwhelmed by higher transportation fares and prices for gasoline, electricity and food.

"It is hard times," said Guadalupe Jiménez, 33, a store clerk with medical bills to pay, who came to the Mountain to trade a gold watch for a few hundred dollars, at an interest rate of 4 percent a month, for a term of no longer than 17 months. Jiménez said she comes two or three times a year. "But I have always paid the money back," she said, proud that she, like 96 percent of the borrowers, reclaims her goods by repaying her loans.

The Mountain shelled out $1.4 billion in mini-loans last year, with the average value of each cash advance about $160. The pawnshop's busiest months are January (when Christmas bills come due), March (Easter week holidays) and August (tuition fees, books, clothes for school).

via washingtonpost.com

Holy S&^% now that is a pawn shop!

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Customers: Spying, lying and one that comes in twice a day....

If you wonder about pawn shop customers, you are weird, but not nearly as weird as they are. 

This week I have a few stories to tell, maybe you'll like them. 

The first is a tale of deception and diamonds.  Thursday we had a couple of women come in and tell a story of looking for diamonds.  Ok, I have a few.  We had a very nice 2.5 cttw engagement ring with bridal band come out.  It was priced very reasonably at $900 and was actually worth retail around $1200.  According to their story this was a mother/daughter team that wanted this ring. 

They had recently been robbed of over 100k dollars worth of jewelry and were looking to replace it.  Now I have developed a real ability to tell when someone is lying and my detector went off the scale but whatever.  Unfortunately for me they had talked with Eric beforehand and gotten an $800 out the door price. 

So after showing them how to look at a diamond and explain what to look for they purchase it, or so I thought.  Before they leave I offer to clean the rings and when I put it in the sonic cleaner one of the channel set diamonds falls out. 

Dammit, so I'm  off to my friend Vu around the corner and in a jiffy have it replaced.  Vu is a master jeweler and an even nicer guy.  If you ever need repair work just give me a call I'll get you his number. 

Back to the story I re-ring their credit card and off they go, but not the end of the story. 

Now I market a lot on Craigslist and the very next day I see the same ring for sale in an ad that says she had canceled a wedding and wanted $2150.00 for it............good luck sister.  Eric tells me the next day she came in looking for some earrings that are coming out soon.....the price for those earrings just went up. 

I thought about the time I spent, all the effort to buy the ring and hold it for 30 days.  Then I sell it to her for 20% more than I bought it.  For those of you math inclined you will realize that is a 240%+ investment and should be happy, and I am,  I just don't like being lied to.  I can't wait for her to come back.

For a pawn shop you would probably be surprised how much technology we use.  We have eBay stores, blogs, websites, Facebook pages and google adwords accounts and we track everything through google analytics and statcounter. 

If you think that when you are cruising around the internet you have some cloak of anonymity you'd be wrong, really wrong. 

I know where every visitor comes from, I know what keywords you typed in to find my sites.  I know the website you were in before and after you got to my site.  I know how long you stay and what you read, I even know where your mouse goes on the page.  So for all my friends and family and extended family I see you peeking from your FB pages.

Finally, we are starting to develop our own set of regulars.  One of those is Paulie.  Paulie is an extended relative of Eric's.  One of those "Uncles" you have as a kid who really isn't related.  Paulie is a pawn shop lifer who has been run out of Southern pawn and the others around here.  Paulie comes in twice a day every day usually once with stuff we don't want then with better stuff because he gets desperate for smokes.  customers like Paulie are great to have and he already has brought other friends in the shop.  Hopefully we can get the video from the security system going on the website and you can see this guy, he's one of a kind.  That is one of the projects to come this month, live pawn shop video, now that's entertainment.

I will have a listing early in the week of stuff coming out stay tuned.....

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More bad Pawn Shop press.......:<

DENVER - Your old jewelry can make you some money. Gold is in hot demand these days and selling at near-record prices around the world because it is seen as a safe asset in uncertain times.

You probably have seen the ads asking you to send off your old jewelry to receive a check in the mail.

But you should not expect a pot of gold in return. In fact, consumer experts say the best and safest way to cash in on your gold is to compare prices around town.

9NEWS brought a few pieces of jewelry to several stores to see what they were offering.

The difference was almost $2,000 in one case.

Our biggest piece was a thick, 14-karat gold necklace, made up of two bracelets that lock together.

The jeweler examined and weighed it before calculating the price based on the percentage of weight in gold.

The price for the heavy necklace came to $1,572.78.

Then we pulled out a few old bracelets and necklaces, five pieces in all, for a price.

The pieces were worth more than $756, bringing the grand total of the jewelry and heavy necklace to $2,329.60.

"If people have got it and they want to sell it, I think now is as good a time as any," one jeweler at William Crow said.

9NEWS took the same pieces of jewelry and went to a handful of stores, all in the same day.

First, we went to a pawn shop in Wheat Ridge, where the staff would not even accept our heavy necklace, saying it was fake, even though it was worth more than $1,500 at a Denver jeweler.

They did offer money for our other necklaces and bracelets.

After tapping buttons on his calculator, the worker said, "I'll go as high as $400 for you."

That was compared to the $2,329.60 from our first offer, which included the necklace.

The next pawn shop we visited in Lakewood also refused to offer anything for the heavy necklace, after examining it, also saying it appeared to be fake.

The store was willing to go as high as $650 for the other jewelry; no where near the amount of our first price quote.

Finally, somebody else was willing to buy our thick heavy necklace at a pawn shop on Colfax in Denver.

Along with our other jewelry, it was the second-highest offer.

"We'll get you $2,175 [for all of the jewelry]," said one worker.

Our last stop took us to a Cash for Gold kiosk in an area mall.

After examining the pieces, the worker came up with an offer of, "Close to $1,500, possibly as much as like $1,500 and change."

It was still far short of the $2,329.60 offer we received at our first Denver jeweler.

While one Denver jeweler said he would offer 75 percent to 80 percent of the current value on the jewelry, consumer experts warn that many companies will only pay as high as 15 percent to 20 percent of the value.

Experts also warn that some stores may be willing to pay good money to reuse your old jewelry, but others will give you the lowest value and end up making money on it by scrapping it.

(KUSA-TV © 2010 Multimedia Holdings Corporation)

via 9news.com

Be careful out there it's a jungle. Go to more than one shop.

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Pawn Stars

via histmyst.blogspot.com

good post

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Circus bikes, eviction notices, and perfect redemption....

What is the weirdest thing in the shop is a question I get a lot.  I have an Ivory walrus, and a boars tusk on a silver claddah, even a Frank Frazzeta lithograph but.....

Today one of our fair customers called me and asked if we would give $20 on a circus bike.  So, I ask "what are you talking about?".  Seems he had one of those tiny bikes that clown ride on and his kids ride it.  I told him to bring it in and within 20 minutes sitting on my counter was the smallest bike you could ever imagine.  He asks for 25 of course I tell him that if he rides it I'll give him $25, no go.  So he gets his $20 and is on his way...

Then yesterday I had a customer come in that is really on his last bit of any luck and brings in a kitchen-aid mixer, a big one.  He wants $60 but I don't want it so I offer him $20 hoping he says no.  Then in dramatic fashion he whips out an eviction notice and point to the 2 women that came with him.  His mother and daughter look down and he tells me that he needs $60 to move them.  Mom starts crying and the daughter is deaf and looks like she is going to join Mom....  If anyone ever tells you that pawnbrokers are heartless I'm living proof to the contrary.  I now have a mixer that I can't sell probably, hope my wife likes it....

In our business you hope that every loan comes back to pick up thier pledge but that never happens.  Eventually some of them default.  Becasue we are less than 60 days old we haven't had anyone default but we have over 60 loans at this point and today we had 4 of them come in and redeem, we literally have zero late loans at this point.  The merchandise that is on the shelves is all purchased off the street no bad loans yet...........maybe I can be the first pawnbroker ever that has no defaults I'll keep you in the loop...

The door hanger ads go out tomorrow flyer Mike says he will get all 2500 out in the morning woohoo.  Until then have a gander of Thunder and me in front of the store if anyone wants more of the car or less of me let me know.

Tim

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Where can I sell my PS3 for the most money?

Where can I sell my Playstation 3 and get the most money? Better yet where can I sell a PS3 for the most money with the least amount of headache? People will ask you why do you want to sell your PS3, it's great. The fact is you probably don't want to sell it but you have to because of some unforeseen financial problems. And if this is the case you need money quickly to solve your problems. This can limit your options and hinder you getting the value you deserve for the PS3. First you need to find out how much is a PS3 worth?

Brand new the 250 GB PS3 can sell for as much as 350 dollars and the 80GB and 120 GB sell for 300 dollars. Some used models sell that high as well. The backwards compatible PS3 can command a price as high as the new 250 GB PS3.   What you need to know is how much do PS3's sell for used and more importantly how much will someone pay for yours? And how long will it take you to achieve your monetary goal? Sometimes a couple extra bucks are not worth the hassle of listening to a dozen hucksters try to give you their old twenty five gallon fish tank and a gift card to Walmart for your 40 GB PS3.  So what to do? There are a variety of options. You can sell the PS3 on Ebay, sell it on Craigslist, sell it or trade it in at Gamestop, or take the PS3 down to Big Tim's Pawn.

Big Tim's has paid as much as 280 dollars for a playstation 3 and in fact has never paid less than 215 dollars. Between 150 and 250 dollars seems a reasonable amount for a PS3 in working order with all of its cables and controllers. Getting this amount in a reasonable amount of time can be the tricky part. At Big Tim's Pawn you won't have to worry about that problem, you will find out exactly how much you will receive within ten minutes. Plus you can make as much as ten dollars on each of the games you have beaten and don't play anymore. This may not solve your financial problems  but it is a quick and fast start in the right direction.

Selling on Ebay can be a time consuming process and you are often dealing with people in other states or even countries. Even if you are protected from crooks by paypal it can take as long as 3 weeks to receive your money. That may be a problem depending on your needs. If you want to deal locally you can try Craigslist but that can cause all kinds of headaches. Very few offers will match your listing price and if you love to haggle this may be what you want to do. Be prepared to deal with offers of animals, car parts, cell phones, and many other bizarre items for your PS3 that will not solve your money problems. That also doesn't cover the hassle of having to arrange meetings with the prospective buyer who may only be able to meet you after midnight at some dangerous location. If you are willing to put up with this hassle you may get the money you need but again if you are under time constraints there is little chance of getting the money you need in the time you need it. The other option is Gamestop the video gaming store. They do not offer anywhere close to the value of your PS3. This morning I called a local Gamestop to see what I could get for my 40GB PS3 and they offered me 90$ in store credit or 72$ cash. This is for a PS3 worth close to 180 dollars. I don't see Gamestop being able to solve your problems.

Head to Big Tim's to sell your PS3, it is your best bet

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One Month

OK, so I have been really open for a month now.  If you are reading this then I guess you are wondering how it's going.  Here are some fun stats.  No particular order I'll type as I think of them.

17K in purchases
9k from vendors
"retail" value 66K

We had 225 transactions mostly buys but it is changing.  Now many of our days have more pawn than buys.  Our eBay store is up and we made over 500 this week alone.  We had over 4k in pawns and currently have 100% redemption but that will go down next month.  Our income from these pawn is at 1k per month already I hope to be at 3k next month.  Our busiest day of the week is Mondays and we are busiest from 12-2 and from 4-6. 

No major mishaps yet and only one call from the PD about tickets with not enough information.  We only had two buys where I know I paid too much but we are not making the same mistakes so I chalk that up to education costs.

I've learned that employees are not as interested in being a pawnbroker as I am.  When I come across something that I don't know about I go on a research expedition.  It bothers me to not "know" what something is worth.  The questions:

• Why is it rare?
• What is the market for it?
• Can I sell it?

This stuff actually bothers me, and not many others.  Maybe we (pawnbrokers) are a rare breed.  After only a month I know that there are tons of more experienced brokers than me, but not many. 

I try and educate every single customer that comes in why I offer them what I do.  The reaction to it is surprising.  Seems that other Pawn Shops are not nearly as user friendly, that is too bad.  We have many repeat customers already, and our referral program is starting to work very well.

The business plan is still working and the goals of 30 transactions and 50 visitors per day needed are still realistic.  Our record is 28 unique customers in one day. 

The newspaper ad was a complete and total, nuclear winter, bust.  When the saleslady from the paper showed up again I actually laughed her out of the store.  More tuition towards my PHD in Pawnbrokering.  We have an ad coming out soon that will be on the table of the local hot-rod hangout Biff-Burger.  Next week also starts the door hanger campaign.  Reports on those very soon.

Having almost every single customer ask "do you watch Pawn Stars" is getting old.  My boss (the wife) says I should tell them I have a show coming up soon called "porn stars".  I told her to stick with the day job.

I have written in detail about some of the unusual things that come through but I have some winners that I am saving for slow days. 

All in all it has been one of the best months of my life and hope it's the worst one ever.  I have always tried to live my life exactly how I wanted, sometimes I feel good about it, this is one of those times.

I still haven't received any feedback about my ramblings if you have a question let me know.  The website and blog are surprisingly popular.  They will undergo a complete overhaul this month by my longtime fiend Jim Hundley.  We are going to try and make it fun and we hope to include a live video feed from the Pawn Shop.  If you have any ideas now is the time.

I wake up every day wanting to go to work, how about you?

Posted via email from Bigtimspawn's posterous

MerchantCircle | Hello, Tim Russell. Welcome to your dashboard.

Check out this website I found at merchantcircle.com

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Monday finds

I got a bad case of the Mondays.  Today started slow but grew on us until we had a record day over 30 unique visitors tons of pawn and sales.  looks like the plan is actually working.  It always amazes me when one of my plans actually works.

Here is a find, a Canadian dominion radio it's am/sw and it came with the repair ticket form the owner just spent $132 repairing it then took $65 from me, and I thought I was crazy.  I also went and had the silver tea set appraised and I think we have good news for the owners I just have to weigh every single piece tomorrow ;<  We have 87 items coming out in the next two days, our ebay store will be rocking.

Tim Russell
President Big Tim's Pawn
5193 73rd Ave N
Pinellas Park, Fl. 33781

727-916-PAWN
IWDTWMCAUTD

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old silver, french guns and new stories...

Another week in the books and I can see some progress.  We went like 3 days without having to go to the bank for cash.  Had our first multiple thousand dollar sales day and had days when we made more than we spent.  For those of you in any other business than a pawn shop this might seem silly to you, but you can go through a lot of cash buying and loaning without selling things. 

Had some interesting customers come through the shop also two of them notable for different reasons. 

The first up are a really nice couple from NC that came in to look at handguns spent a few minutes walking around looking before I got to them.  They were looking for something smaller than their Ruger .44 Redhawk I showed them a few things and talked with them briefly about some other items they might look to get rid of, nothing exciting.  I did give them an education about selling gold and they seemed very happy with the info.  I suspected they had a large quantity of gold sitting around somewhere.  Helping someone always comes back to help me in my experience and this time was no exception.

The next day they come back with a huge tupperware container full of old Schofield silverware, a full 8 place setting, over 200 troy ounces.  And though they were counting on selling right then, I found some interesting pieces that I wanted to further research.  I asked for more time and they graciously left the full setting behind.  I find this amazing because this set is worth at least $3000.00 just in silver, it does feels good when people trust you .

The other interesting story we had this week was another guy looking at the guns brought in a very old shotgun.  He was looking to sell it and was determined to get $500.  With very little info from him and even less information on the gun itself I was off to the internet to find the value of this weapon. 

After much research I discovered that the shotgun was a 1873 French Military shotgun. Original barrel band , trigger in great condition, barrel was thin but in all a cool weapon.  I was able to find the information fast and even show the customer a very accurate picture of the gun wi the description along with the current valuation of around $350.  With this in hand he kind of gave up on the sale of the weapon and thanked me.   Did your pawn hero stop at that though?  No, fair readers, I offered him $300 trade in and he promptly bought a Taurus Judge and left a happy gun owner. 

For a born trader like me there is no other occupation I can't wait for Monday, how about you?

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of maps, fools gold and professional pawn shoppers

Today you get the treat of an interim post because of the oddity that is my life.  Today started brutally slow and I was getting annoyed with the situation so I left the shop to handle my other life. 

My wife and I own an Employee Leasing company (EnterpriseHR).  We basically take over other businesses employees and provide the payroll, workers comp and benefits for them for a fee.  Nice business, not exciting but it does pay the bills and we get to employ our extended family.  I do the sales and Karen, the super mom, handles the day to day logistics of the payroll system.  We have 1800 shared employees in Florida and the payroll end of it is a real job.  So, I handle some issues there and between driving there and back all hell breaks out at the pawn shop.

When I get back we had purchased some gold and dvd's, but we also got a framed map of the world that I had found on Craigslist.  Hard to lose for $15.  When I finally saw it though I was blown away. This one had a nice frame, real plate glass, and a very old detailed map printed in Ye' Olde English.  Very cool and just my style...

You are reading this so I'll share a little.  I'm a pilot, private single engine.  I got my license becasue I've always wanted one and it was an accomplishment I could check off the list (more about the list later).  Maps facinate me, like automatic watches, fast cars, and big screen TV's I'm simple like that.  My day was suddenly much better.

After that normal pawn shop stuff, lots of looky-loos and shoppers, we didn't sell much but the shelves are still very bare.  It seems that no one is looking for the things we have but there is an endless list of stuff we don't have that they would pay a million dollars for.  Then we got a visit from out local professional pawn shop guy.

If you didn't know there is an actual vocation of going from one pawn shop to another buying and selling making a small profit.  Kevin is our professional, commission only shopper.  In the 3 weeks we have been open Kevin has brought us some cool stuff.

• Polaris ATV cheap
  
• Yamaha Jetski cheap
  
• nintendo wii's when no one could find them used...cheap
• tools....holy cow cheap
  

Kevin is a useful guy.  Kevin is also very under appreciated by other pawnbrokers.  As he explains the relationship with other pawnbrokers they tolerate him but hate the fact that he operates much like a mobile pawn shop without the licensing, etc.  I could see his side that he is treated poorly but, it's only his side of the story, time will tell.

Kevin calls me 30x per day....ahhhhhhhhhhhh, so today we changed the way Kevin works for us. 

The norm for him is to go to a shop and find something another shop may want and start calling the owners.  This is a problem for me as I loathe the phone.  Judging him on his short history Kevin would be a great pawnbroker but for whatever reasons, he just never put it together.  So today I gave Kevin store credit.  He has already made us more than $500, so I told him that he has the ability to buy for us up to $500 at anytime and we would settle it later.  I think I made a good friend and solid investment today.

Then the weirdness that is a pawn shop happened.  Store is bumping with lookers and this homeless looking guy comes in a wanders around obviously waiting for me to get loose.  As I find my way to him he is mumbling something about coins and holding a postcard for me to look at.  As I look at the card I don't understand the connection between the card and the customer.  It's postcard from a doctor.  Finally I get from him that he wants to know if we buy gold.  Sure, I say, then I ask what he has and he points to the card.  Again I feel like someone expecting to be in a college algebra class that accidentally sat in  a string theory class.  Then I really look at the card and it has a gold foil label. 

Finally, the light goes on, he wants to sell the gold foil label, he say he has 10 of them.  Instantly I want to burst out laughing and just as fast that is replaced by a wave of pity for him.  As politely as possible I tell him it's not gold and offer him a free pocket knife for coming in.  I could feel the shame and embarrassment coming from him. As a rule I never give money to the guys holding signs on the side of the road, (it's the independent in me) never felt the need.  I really felt bad for this guy.  He wouldn't even take the knife.  So that was my full circle of a day....how was yours?

Hey while I'm thinking about the blog if you like it please subscribe to it.  Really helps the Google score!

Tim Russell
www.bigtimspawn.com
www.bigtimspawn.blogspot.com
IWDTWMCAUTD

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stuff coming out this week

girls schwinn $45
boys mongoose 65
port cable router $20
black and decker drill $20
rigid drill $50
tons of jewelry
asus netbook $225
playstation 3 $250
ps3 games various
vivitar digital camera new in box touchscreen we have 5 at $85/each
300 dvds at $3 each 4 for $10
rolling craftsman toolbox with tons of craftsman tools $800 whole thing
garmin handheld gps nuvi 200w $100
wagner power sprayer 1800psi $40
rigid rolling shop vac $45
New Michael Kelly visionary acoustic guitar $249
canon ae1 35mm camera $75
and more

See and download the full gallery on posterous

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Gold Todays Price

Gold is 1134 this morning we are paying $28/gram Tuesday 1/19 Tim

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more of what the Pawn Shop taught me.....

Download now or watch on posterous

test.avi (5481 KB)

Another week in the books and some victories some setbacks....here is what got done.

• video systems is in ...only a few minor changes to be made move and refocus some cameras but some interesting video already.  Thanks to the guys at Privacy Electronics for a smooth installation.  I have eight motion sensitive cameras and 60 day DVR.  I attached an example of the video quality.  Very cool tech I can log in on the internet and not only see but hear what is going on in the shop.
• New guy (Dean) has a few weeks on him now.  Shows up on time and seems interested in his job.
• Eric, manager/brother-in-law is working out well, bery honest and seems to enjoy the job more than I thought he would.  For a guy who couldn't get a job teaching history to end up as a pawnbroker is a stretch but it seems to work for him, we will see.
  
• we are averaging 15-25 walk-ins a day even though we have very little merchandise to see   but we have a metric butt load coming out in the next two weeks.
• We bought out a tool shop going out of business around the corner and got some cool stuff, shelves, tools, storage stuff for $200.
• about 3k of stuff off the street, only about 1K in pawns :< but more each day.
• we have 16 oz in gold now about 30 days away from scrapping should have 30 oz in first run.
• Sold our first gun, Walther PK380, to a local employee of another gun store :>
• got some cool stuff in, ATV, Jetski, goped, bose 321, nice audio stuff, xbox360, 200 dvds, 140 video cassettes....you get the idea
  

here is what didn't get done

• still need more signage
• have appt Tuesday with flyer distribution guy as the newspaper ad was almost a complete flop.  If we didn't have one 100gr buy from it I would call it a total loss.
• Our standard operating procedures to get merchandise out and on craigslist, ebay and in the local classifieds sucks...really bad.  That I will fix this week.
• The website is still 3rd gradish but I'm just one man.
• Delivery van still needs to be wrapped.  That is a surprisingly expensive prospect $1700

The plan to get people in the store selling to us was easy and as expected worked well.  Now the hard part to switch to getting people in to just sell gold and get loans hopefully the flyers will help with that.  The signs should also.  Met some really cool people including a pawnbroker 8 miles away next to where my dodge is being rebuilt.  He was kind enough to sell me some needed stuff for my shelves, nice guy, Clint from Pawn Depot in Largo I salute you.  I might have some time to update you more frequently next week never know what will happen.

Tim

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What I Iearned this week......

Part of being a business owner is having a plan.  I've learned the hard way that you always have a plan you just just are not aware of it sometimes.  And the worst one of all is no plan because without one you will surely end up exactly where you deserve do be. 
My plan in starting a pawn shop was multi-part.

• I've always wanted one.  I know that sounds weird but when I was a kid(younger) I loved to goto them and look for rare guitars and coins.  Never really found the 100.00 Les Paul but the search continues.
• I really suck at picking stocks so hopefully I can invest some money in the shop and make a good return.
• I can not remember to take out the garbage most of the time, yet I can tell you the difference in mintage of 1964d vs 1964s dimes.  I can spot a fake Rolex at 30 feet.  My depth of knowledge of all things completely useless is only helpful in a pawn shop.
• I've always been pretty good at marketing and seeing what doesn't work.
• I am completely and utterly unemployable, so this better work.

Here is what I learned this week.
People know when you are being honest.  As a pawnbroker you LOTS of opportunity to really rip people off.  As of right now we have done almost 100 transactions and you can see in the customers eyes when they come in,fear, and really feeling out of place.  They come into the store with their guard on high alert.  But if you talk to them like they are family things change. 
We have a customer that has been into the shop three times in five days already we call "guitar Joe".  Joe has sold us a cool mid 80's Fender amp and hung out to talk.  Saturday, Joe comes in and says he would like to thin the herd of guitars in his house and wants to sell his Fender Telecaster. 
Now for those who don't know the telecaster is an iconic instrument with a long list of credits with an unmistakable sound.  The cherished instruments depending on where and when they were made go from 100 to many thousands of dollars.  Joe's pride and joy is a 60th anniversary  black and white beauty.   After a little testing Joe tells me he what he wants for it and I ask him why he doesn't sell it himself.  Joe tells me that even though I might only have it for awhile he knows I'll take care of it, and he thinks I'm an honest guy. 
I know that after a little work I'll make a few hundred from the guitar but the trust that Joe showed in me was worth its weight in gold.  Being a Pawnbroker is kind of cool.  I've always been pretty good at the things I do in life, but this one feels different.  More to come....

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Real Art In Pinellas Park, Fl.

Even as a kid I have always had a great appreciation of art.  I used to go to the Ringling Museum of Art to see the great Renaissance period works with my parents and ever since then it has been one of my favorite places on earth.  I'm almost afraid to bring my youngest one there, in fear that he won't see the beauty that I see in it.

I was always amazed at the scale of the paintings.  It was hard for me to even imagine completing one of those great paintings in a lifetime and being amazed that one man could do so many.  What I consider art is eclectic, but the things I really appreciate is 14th-16th century Flemish and Christian art.  Specifically Ruebens.  I also have a great love of mechanical things..... cars, planes, automatic wristwatches, and well made guitars.

Having a pawn shop in what is not considered a metropoliton area I never expected "real" art to ever appear in the store or at least very rarely.  Well less than ten days with the doors open in walks real art.  Not lifestyles of the rich and famous, but, some interesting stuff.

We had a customer come in and sell some coins.  Common US coins.  He also has some Irish coins, not my thing, but I liked it that he showed me.  He also had a good story about the coins and it was obvious that he had enjoyed having them. He also taught me a few things about the coins that I looked up to confirm and his information was correct.  I got to check off my learn something new for the day box, cool enough.

Then he says to me  "I brought the litho that I talked with you about in an email".....hmmmm.  Here is where our story makes a detour.

Right now most of our marketing is contacting Craigslist sellers and making offers for there stuff.  We use a combination of live and software generated offers initially.  If any interest is garnered then we get into a "live" negotiation with them.  We go through about 300 emails per day.  I had misssed this last email because had told me he was coming in then followed it up with another email saying he had more stuff.

Once I put a customer in the "coming in box" I generally ignore the follow up emails, beacuse I cant handle any more emails.  Not the ideal procedure but necessary right now.

Getting back to the story.  He tells me he has a lithograph of Frank Frazetta's original artwork of "the lieutenant".  Frank Frazetta is the artist that made the movie Heavy Metal, drew Conan, drew Tarzan and other famous dark, gothic, sci-fi greats.  It was obviously well framed with COA and it was a beautiful Lithograph.

If you don't know the difference between a good and not good litho the difference can be hard to see.  Fortunately, for me, I can see it. This particular one had great color separation and really nice paper, well framed.  It was a plexi-glass face but that was easily fixed.  I didn't put a number on it and asked for some more time.  Graciously he accepted my request.  Hopefully I can still buy it at his offer and I'll put a picture of it here.  Maybe, just maybe, there is some hope for culture here yet.