I have used their services three times, once a long time ago, and twice in the past several years. I got a loan against my camera equipment, which has a number of pro-level pieces, so the resale value of the pieces I brought in is probably pushing $4,000. I knew from past experience that most pawn shops will loan someone they don't know about 1/4 of the used resale value of electronics, and might go up to 1/2 of the value if it's equipment with solid resale values (i.e. pro-level stuff), or if they know you pretty well. I asked for $1,000 against the approximately $4,000 worth of equipment I brought in and they wrote it up with no problem. The next time I brought in a little bit less of the equipment and asked for $500, again, no problem.
I think many of the people complaining don't understand how pawn shops work. To have a positive experience with pawn shops (these pretty much apply to all pawn shops), keep these things in mind:
1) With jewelry, they will only loan against the scrap value of the jewelry, not the finished retail value of a piece. So even if it's absolutely stunning piece, if it's thin, 10karat gold, with small gemstones of a medium grade, the scrap value will be *far* less than whatever you paid. The only time you'll get offered something even close to what you paid is if it's 24k gold, in substantial amounts, with large, high-grade gemstones. If you go in and don't understand that, they will see you as a rube or, worse, a scam artist. I agree, they should still treat everyone respectfully, but I imagine they get tired of arguing with people who don't understand how pawn shops work, or how jewelry is valued there.
2) With electronics, they'll usually loan at 1/4 of the *used resale value* of the item. For off-brand electronics, often times the used resale value of an item will be much, much lower than what you paid new, even if it's not that old. This is because electronics lose their value relatively quickly, and it's hard to sell off-brand items. The only time you'll get anything close to decent loan offers is with name-brand, high-end electronics, because they lose their value more slowly, and they are easier for the pawn shop to resell if you default on the loan.
3) If this is your first time at a particular pawn shop, they will probably low-ball you, especially if you seem like you don't know how pawn shops work. When I go in and expect to get 1/4 of the resale value of my equipment, and that's what they offer me, they know that even if I'm new, I know how their business operates, which makes dealing with me easier and non-confrontational.
4) If you pawn things frequently, they will give you greater loan-to-value rates. Instead of just 1/4, if you're a regular customer they may go as high as 1/2 the value of what you want a loan against. But they have to know you first, so that they have some idea of how much trouble it will be dealing with you. If you come in prepared, with a realistic expectation of valuation, you will get a loan with good, quick service and if you do it often, they'll start to go further to keep your business. They don't make their money off the one-time person selling jewelry they bought at a mall jewel. I'm not trying to insult anyone, that's just the truth. They make their money from people who come in relatively frequently with substantial amounts of high-grade metals or jewels, or professional-grade electronics.
So, for people who know how pawn shops work, are realistic about the actual resale value of their items, and know that most jewelry will have loan values of just the scrap price of their pieces, this pawn shop is quick and friendly. If you don't know how pawn shops work, and have a completely unrealistic understanding of how your items are valued, you probably won't have a good experience at *any* pawn shop.
The only reason I gave them 4 stars instead of 5 is that their shop is really, really cluttered and seems kinda dirty. I know it's "downtown" shop, from an era when "downtown" meant a little grimy, but they should really get with the times and realized that "downtown" doesn't mean dirty and grimy anymore. I'm not saying they need to spend thousands of dollars on a remodel, just that they need to organize things better, and do a better job of curating what they have on display. If it looked nicer, they would probably even make a little more money on selling pieces on display. But other than that, as far as their primary purpose as a pawn shop, I think they do an excellent job. read more