Knap on pawn stars.

[keith ouellette]

I don't know if anyone else watches it but I saw an episode of pawn stars where they bought a knap for $4300. It definitely had the jointer/ planer(looked to be 15" at least) and sliding table saw and I think it had the shaper.

I couldn't believe it. Some people just roll into luck. I saw one at a wood working show and it was beautiful.

[george wilson]

That is a crazy show. One thing that really bugs me is that the owner thinks that ALL guns,even 17th.C. ones MUST SHOOT. He fires all of them. I wish someone would clue him in that this is totally inappropriate,and very dangerous.

[Wade Lippman]

I've always wondered why anyone would bring a gun to them instead of a gundealer, or a knapp to them instead of putting it on ebay.
One episode a professional sold them a surplus hot air balloon. Wouldn't you think the could have called some other hot air companies, or there is a magazine or website he could have sold it through for twice the price?
My 15 year old loves the show...

[Radek Kowalski]

I do not think he bought the Knap, I watch this show all the time. I think that he borrowed some money with the Knap as collateral. If the customer does not pay, then I guess we can say he bought it.

[Josiah Bartlett]

Yes, I remember that episode. The owner pawned (got a loan) on it.

[Jon Lanier]

I do not think he bought the Knap, I watch this show all the time. I think that he borrowed some money with the Knap as collateral. If the customer does not pay, then I guess we can say he bought it.

Right... he pawned it, not sold it.

[keith ouellette]

I do not think he bought the Knap, I watch this show all the time. I think that he borrowed some money with the Knap as collateral. If the customer does not pay, then I guess we can say he bought it.

I thought it was a sale but now I'm not sure. If it was a pawn it seems like really big risk but still better than practically giving the knap away.

[Aaron Berk]

I'd figure that some of the folks that bring stuff in are doing it for the show, not just to get the best dollar. Everybody needs 15 minutes of fame right:cool:

[Myk Rian]

Like a $60,000 Cobra body for $7,000.
The show is stupid, and I don't watch it.

[Leigh Betsch]

I'd figure that some of the folks that bring stuff in are doing it for the show, not just to get the best dollar. Everybody needs 15 minutes of fame right:cool:

It would beat hiding your kid in the attic and then letting a hot air balloon go!

[Greg Peterson]

Like a $60,000 Cobra body for $7,000.
The show is stupid, and I don't watch it.

Actually I believe they paid $30K for the body.

As the owner says to practically everyone, it's worth $xxxxx at auction but I've got to make a profit. People don't realize that he isn't going to pay retail price. If they want retail price they have to be willing to wait it out and find a buyer.

[Randy Klein]

That is a crazy show. One thing that really bugs me is that the owner thinks that ALL guns,even 17th.C. ones MUST SHOOT. He fires all of them. I wish someone would clue him in that this is totally inappropriate,and very dangerous.

That's why he has Chum Lee fire it. I like that show. The old man cracks me up.

[george wilson]

I can't imagine a dealer who would get an expert to come to the shop and evaluate an item right in front of the customer.

I alo can't imagine a pawn shop that would buy something like a beat up car or airplane,put a huge amount of money into it,and re sell it for big bucks. I would not buy a plane or a car from a pawn shop.

[Jon Lanier]

I can't imagine a dealer who would get an expert to come to the shop and evaluate an item right in front of the customer.

I alo can't imagine a pawn shop that would buy something like a beat up car or airplane,put a huge amount of money into it,and re sell it for big bucks. I would not buy a plane or a car from a pawn shop.

Alot of that stuff doesn't stay in the pawn shop. They will go out and find a buyer... take it to a place that deals in that item. They will even take an item and put it up in a big auction. That is there business.

[Randy Klein]

I can't imagine a dealer who would get an expert to come to the shop and evaluate an item right in front of the customer.

That surprises me as well. Would like to hear why they do that.

[Justin Freund]

If you brought in your grandfather's coin collection, would you leave it there for the pawn shop to "appraise" on their own? It helps them to not overpay on something they don't know about and the seller to not get underpaid. If they don't pay retail price anyway, I don't see anything unusual about it at all.

[Stephen Edwards]

Though I'm not familiar with this show, I do know that any and all horse traders aren't going to pay the actual retail value for an item that they intend to resell. They're in business to make a profit. That's life.

True story: A friend of mine is a horse trader of vintage musical instruments, mainly Martin guitars and Gibson guitars and banjos. He is nationally and internationally known in the circle of people who know about such things. He is also a very fair person.

This year, by word of mouth, he learned of a pre-WW II Gibson 5 string banjo that an individual wanted to sell. A mutual friend of the banjo's owner and of my friend, called my friend and told him about it. My friend called the owner and they set up a meeting.

The owner of the banjo knew that he had a rare and valuable instrument, but he didn't know the real value. During their first phone conversation, before my friend had seen the banjo, he asked the seller how much he wanted for the banjo. The seller (a disabled vet) said, "I think it's worth somewhere between 20-30 thousand dollars. My friend told him that if the banjo was in the condition as described that it was worth a lot more than that and that if the guy was going to sell it he'd only be able to sell it one time so he should get a fair price for it.

So, my friend drove to the state where the owner lived. They met in a public place. My friend examined the instrument, explained to the guy that he buys and sells to make a profit. In other words, he's upfront with the seller letting him know that he ain't gonna pay him retail value. The seller understands this. In the circle of folks who trade in these rare vintage instruments, the instruments frequently are never offered for sale in a "store". Collectors and musicians who can afford to buy them just know who the horse traders are.

Long story short, my friend offered and paid $80,000 for this circa 1940 banjo. That's way more than the seller thought his instrument, which he had owned since 1960, was worth. It's in mint condition with the original case and even still has the key for the case!

I went with my friend to the appraiser (one of two in the USA who's word is well respected the world over for establishing the market price for such instruments). The official appraisal for this instrument was $140,000.

Less than two weeks later my friend was offered $160,000 for this banjo. He politely turned the offer down, knowing full well that it will only increase in value over the next few years.

The coolest thing about how my friend operates, in addition to him being a fair and honest person, is that he NEVER even has to try to sell these instruments. He'll take a banjo or a guitar to somewhere that collectors or wealthy musicians are hanging out and set it on the floor, in its case, of course. Someone will ask, "Whatcha got there in the case?" My friend will say something like....." Oh it's just an old banjer, how's your Mama doing?". Eventually, someone will insist on seeing the banjo. The instruments always sell themselves, my friend doesn't have to pitch it. It's so funny to watch!

I know, this has nothing to do with the show y'all are talking about. But, it is a good related story and it's a true story, too.

Merry Christmas to all!

[John Shuk]

I can't imagine a dealer who would get an expert to come to the shop and evaluate an item right in front of the customer.

I alo can't imagine a pawn shop that would buy something like a beat up car or airplane,put a huge amount of money into it,and re sell it for big bucks. I would not buy a plane or a car from a pawn shop.

It's a good practice though. At least the seller can hear what the expert has to say for themselves and can make a more informed decision.
I do think it is less than ethical to ask "How much do you want for this" in most cases though.

[Mark Crenshaw]

That surprises me as well. Would like to hear why they do that.

We always assume a dealer/expert must be honest. The cynic in me says they do it to get a better price for the item. The dealer/expert says a $5000 item is worth $2000, the customer begs for $2500 and gets the price. The dealer/expert gets an instant fee or commision on the future sale of the item @ $4000 to $5000. Partners in crime.

Peace,
Mark

[Mark Crenshaw]

The coolest thing about how my friend operates, in addition to him being a fair and honest person, is that he NEVER even has to try to sell these instruments. He'll take a banjo or a guitar to somewhere that collectors or wealthy musicians are hanging out and set it on the floor, in its case, of course. Someone will ask, "Whatcha got there in the case?" My friend will say something like....." Oh it's just an old banjer, how's your Mama doing?". Eventually, someone will insist on seeing the banjo. The instruments always sell themselves, my friend doesn't have to pitch it. It's so funny to watch!


This is not a comment about your friend in particular, I don't know him.

But, I don't see this as honest at all... it's trickery at best. An honest person would say up front when asked " it's a blah, blah banjo." The item would still sell itself. Either it's desireable or it isn't. When the talk of a sale starts, unless the seller is assuming that people with money are stupid, it's instantly obvious that the seller knows what he has or it would sell for far less than it's worth. Pretense is pretense. It's a sales pitch, plain and simple.

my 2 cents...

Peace,
Mark

[Don Selke]

Guys: It is just entertainment. Better then some of the other crap on TV.

[Dennis McGarry]

This is not a comment about your friend in particular, I don't know him.

But, I don't see this as honest at all... it's trickery at best. An honest person would say up front when asked " it's a blah, blah banjo." The item would still sell itself. Either it's desireable or it isn't. When the talk of a sale starts, unless the seller is assuming that people with money are stupid, it's instantly obvious that the seller knows what he has or it would sell for far less than it's worth. Pretense is pretense. It's a sales pitch, plain and simple.

my 2 cents...

Peace,
Mark


Trickery? No Its the group dynamic of it. Everyone in that circle will KNOW thats its not just a banjo, it keeps the ones that are not interested in buying it down, and the risk low on showing it.

When you run in a circle like that, its part of the game so to speak..

[Robert Parrish]

I found that show by accident as I was searching the cable guide without my glasses. I thought it said porn stars!!

[Stephen Edwards]

This is not a comment about your friend in particular, I don't know him.

But, I don't see this as honest at all... it's trickery at best. An honest person would say up front when asked " it's a blah, blah banjo." The item would still sell itself. Either it's desireable or it isn't. When the talk of a sale starts, unless the seller is assuming that people with money are stupid, it's instantly obvious that the seller knows what he has or it would sell for far less than it's worth. Pretense is pretense. It's a sales pitch, plain and simple.

my 2 cents...

Peace,
Mark

There's nothing dishonest at all about it. When he shows up with an instrument, he isn't even offering it for sale. For all they know it may be one of several instruments that he himself is going to play that day at a jam or recording session. Or, it may be one that he's willing to sell. Furthermore, everyone there knows the score.

It would be accurate to call it a sales technique, I suppose. It would not be accurate at all to call it a sales pitch. He isn't "pitching" the instrument.

Additionally, my friend, nor anyone else, would enjoy the reputation that he has as the "go to guy" with people willing and wanting to spend 30T and up for a vintage musical instrument.

Yes, my friend knows what he has. Equally important, so do the folks who buy instruments from him. He's spent years learning the difference between an authentic vintage musical instrument and the near perfect counterfeits that some unethical people knowingly sell. There's absolutely no trickery involved. He wouldn't have the repeat customers that he has by tricking people. People who buy instruments from him know this and appreciate it.

I guess you'd have to hang out with that crowd to appreciate it. It's just part of their little game and everyone involved enjoys it.

Best Wishes,

[Stephen Edwards]

Trickery? No Its the group dynamic of it. Everyone in that circle will KNOW thats its not just a banjo, it keeps the ones that are not interested in buying it down, and the risk low on showing it.

When you run in a circle like that, its part of the game so to speak..

Yeah, what you said Dennis! Thanks for saying it better, in fewer words, than I could. "Group Dynamic". Well said.

[Stephen Edwards]

I found that show by accident as I was searching the cable guide without my glasses. I thought it said porn stars!!

HAHAHAHA!!! Were you disappointed when you discovered what the show really is?!

Thanks for the laugh............

[george wilson]

I haven't had experience in selling things to pawn shops. A few times though,I tried to sell some things I didn't want anymore to flea marketers. I had some old lead soldiers I had as a kid in the 40's. First thing the dealer tried to do was tell me they were made in Taiwan. I took my stuff and walked.