What you need to know at the pawn shopPosted: Updated:
Consumers are always looking for a bargain, especially in an economy where things haven't been so great. 3TV shows you something people have been doing for decades to make fast cash.
“People are getting a taste of what the pawn business is really about when they watch the Harrison family on the History Channel's, Pawn Stars. Their Gold and Silver Pawn shop in Las Vegas sees all kinds of unique items come through its doors; things consumers are looking to pawn off, if the price is right.
“It's really helped us a lot because it's made people understand that pawn shops aren't places with thieves or dingy or dark,” Stan Grossman says. “It’s a business and we want people to come in and feel comfortable.”
Grossman owns Glendale Pawn and Jewelry, a fixture in the Valley for 26 years where people can not only pawn items, but buy or even get a cash loan.
“What happens is we become a bank for a lot of people,” Grossman says. “25 million Americans that should have a bank account or could and don't for whatever reason, so now they need access to cash and we're that access.”
“This means to the consumer no credit checks, no bad credit, just bring this item in, something of value [be] able to bring in [the store.] “We can access the value of what we can pay right at our counter and if you agree, we give you a loan,” he continues.
This means put something up for collateral and then you have 90 days to pay the loan back. Grossman said they don't just give the money away; they make sure everything is by the book.
“We go through the paperwork which is mandated by the state,” Grossman says. “We take fingerprints. We have a signature. We give you a full contract and we have a special document in which all the pawn shops fill out for the police.”
So how do you know you're getting a good deal when you walk into a pawn shop? The first thing Grossman recommends you do is shop around.
“People can certainly and in fact go to a pawn shop, go to another one and get an idea of what the value is,” he continues.
Besides getting different prices on your item, Grossman said don't get offended if they don't offer you the same price you originally bought it for.
“When they buy something retail, one, we don't know what shop they bought it at and different stores have different mark-ups,” Grossman says. “Number two, if it's used there's a different value to it; it's like a used car. People know if you have a used car and drive it off the lot it's worth less money, so the same with merchandise.”
The last thing is to get a good vibe from the pawn shops you want to do business with.
“You need to find a place you know your merchandise is well taken care of and that the people you speak to are friendly and they treat you with respect,” Grossman says. He also said his inventory is always changing and the products are guaranteed.
For more information on Glendale Pawn and Jewelry call (623) 939-2107 or go to Arizona Pawns Shops.