Showing Tag: "pawn shop" (Show all posts)

How does pawn shops work?

Posted by The New N Used Link Team on Monday, April 29, 2013,

Pawn shops give customers a place to sell their personal items for cash. The pawn broker looks an item over carefully and determines how much money he can obtain for it. He then makes a lower offer to the customer. The pawn broker makes money when he sells the item at a higher price.

For example, if a customer offers a working DVD player the pawn broker knows he could sell for $45, he might offer the customer $20. Were the ...