Sunday, November 18, 2012
Are pawn shops becoming scam artists?
Due to the economy, pawn shops have become more valuable to consumers. But, are consumers really getting the deal the shops say they are, and who's really benefiting?
Merchandise that pawn shops acquire are from people who need money. Because of the high interest, a lot of people can't retrieve their valuables. Therefore, the shop keeps them. For the very few people that can pay the interest every month, it goes way beyond what the shop paid them for it. Some shops have taken to selling this merchandise at exorbitant prices, which could add up to them being double paid off of someone else's misfortune.
I have found that some pawn shops are selling merchandise that's almost equal to, if not more than, what you can get new and never been used in a store. Also, do the consumers get a good bargain, or is it the employees that get better bargains with getting first pick of everything that comes in and employee discounts? Since they are pricing these, they can put prices on items they want for much lower and use their discount. Hence, they put up the price for other consumers who often times don't get discounts. When they do, it's not a good deal since it's marked up for twice what is should be.
Should pawn shops be regulated? I say yes. To gain off of someone else's misfortune is bad enough, but then to hike prices higher than what discount retailers sell it for is a double whammy. People, let's get together, since we all love to shop in pawn shops. I've been shopping in them for years, and what they're doing now is deplorable.
Should employees be monitored as far as what they can put out and what they can keep? I think so. Should the managers and owners be held responsible? Yes. Thrift stores are regulated, and pawn shops are now a billion-dollar business and are given TV shows for just that. They make it very difficult for the customer to get their items back at a reasonable price. Vegas gives you better odds of winning than they do.
Merchandise that pawn shops acquire are from people who need money. Because of the high interest, a lot of people can't retrieve their valuables. Therefore, the shop keeps them. For the very few people that can pay the interest every month, it goes way beyond what the shop paid them for it. Some shops have taken to selling this merchandise at exorbitant prices, which could add up to them being double paid off of someone else's misfortune.
I have found that some pawn shops are selling merchandise that's almost equal to, if not more than, what you can get new and never been used in a store. Also, do the consumers get a good bargain, or is it the employees that get better bargains with getting first pick of everything that comes in and employee discounts? Since they are pricing these, they can put prices on items they want for much lower and use their discount. Hence, they put up the price for other consumers who often times don't get discounts. When they do, it's not a good deal since it's marked up for twice what is should be.
Should pawn shops be regulated? I say yes. To gain off of someone else's misfortune is bad enough, but then to hike prices higher than what discount retailers sell it for is a double whammy. People, let's get together, since we all love to shop in pawn shops. I've been shopping in them for years, and what they're doing now is deplorable.
Should employees be monitored as far as what they can put out and what they can keep? I think so. Should the managers and owners be held responsible? Yes. Thrift stores are regulated, and pawn shops are now a billion-dollar business and are given TV shows for just that. They make it very difficult for the customer to get their items back at a reasonable price. Vegas gives you better odds of winning than they do.
