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How do pawnshops make money?

How do pawnshops make money?

  • Answer:

    people who r in need of money will pawn their jewelleries at a very low price to the pawnshops n the pawnshopd would then sell these jewelleries at a higher price.

apaini13... at Yahoo! Answers Visit the source

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they charge you interest and a higher fee for the money borrowed against the object you pawned. Also if you never reclaim your stuff they sell it back to the public after a certain amount of time

robbedbyafish

buy low, sell high

fluke

buy for a pound n' sell for two.simple.

g.denison

from all the perv's who use them

beck

they buy your stuff for low and sell for high and / or they steal!!!

joe

selling items not redeemed and collecting pawn fees on pawned items.

Jan Luv

By buying potentially valuable items from you dirt cheap and then selling them for a higher price. Remember last week when you pawned your wedding ring for $20? Well, the guy probably got at least $150 for it.. Oh well, at least you got yer fix.... (jk of course...)

poopshipdestroyer

They paid 5-10 cents on the dollar for goods, and sold for wholesale prices.....

Liberal Brain Fart

The owner will pawn their things to the pawnshop & the pawnshop buy it on the low price. If the owner wanna buy back their things, the pawnshop will sell back to them with higher price.

scottcky1985

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