THINGS YOU MAY WANT TO KNOW
Reality
There are very few similarities between reality and television.
It's still a very cool place to find hidden treasures or common items cheap
We get what people bring us. We won't always have what you want but you never can tell what we will get.
Jewelry stores are outrageously over priced. Actual value is about 10% of the retail prices.
Once an item is used once, it is no longer brand new. Brand new is factory sealed in the original box.
Once the box is open it's "New: Other"
Used items sell for about 50% of the original retail price, depending on condition.
eBay "sold" items set the secondary market price. It is the largest second hand market in the world.
When a pawnshop sells items, they have to pay eBay or Amazon and PayPal a percentage, shipping and sales tax.
Never try to buy or sell an item directly to another customer. It's terrible decorum and overhead is expensive.
Always remember that everyone is dealing with an issue that you have no idea about. Treat with respect and respect will be overly returned. Its a tough business.
THINGS TO KNOW
History
The pawn industry is more than 3,000 years old
The pawn business originated in China
Pawnbroking thrived in ancient Greece and Rome, giving merchants a way to get small shops off the ground
The word “pawn” stems from the Latin word “patinum” meaning cloth or clothing. For the working class, clothes were often the most valuable items they owned.
England’s King Edward III famously pawned his jewels to the Lombards in 1388 to help finance war against France
Pawn Brokers Act of 1872, in England, was the first "real" regulations for interest charged and stolen items. These guidelines are still used today.
The pawnbroker's symbol shows three balls suspended from a bar. The origins of the symbol are unclear, but it is often attributed to the Medici family of Florence, Italy.
Throughout the Middle Ages, coats of arms bore three balls, orbs, plates, discs, coins and more as symbols of monetary success.
