Found a Private Stock in Pawn Shop

[moT]

It's listed by them for $13k. I spotted it through the window as I was walking by and they let me hold it for a minute. Of course the sales person said it was $14k. It's a really beautiful 22 fret guitar with a bluegreen finish on maple top, but I would still be leery of buying it for well less than half of what they are listing it because I suspect that they may have hurt the neck finish with their sticker placement among other things. The sticker is under the first couple of frets. It is a rectangle that covers about two square inches and looks like the adhesive has completely dried into the wood from the dry environment or from people playing the guitar. It may have had a few birthdays stuck to the guitar too. I suspect the guitar has been hanging in the window more than it's been in its case. The [ http://shop.thepalacetreasures.com/...RIVATE-STOCK/79abbd309eff41ab8701b3bcfac7946e ] gives the serial number and was most recently put up about 7 months ago.

What would be your concerns about a guitar like this and what price would you start considering buying it? I am not planning to buy it as it is more guitar than I need, I am just trying to gauge what a fair price of a guitar stuck in a situation like this.

Thanks,
Tom

PS I saw it a couple days ago when I was passing through town.

 

[rugerpc]

Fixed the link...

I think putting a price on a used guitar is a very personal thing. We all have our hits and misses for features, condition and finishes and that colors our perceptions.

Add to that the listing is only a few pics with no real details.

So, not knowing any more about the guitar, there is no way I can even speculate a range where I'd be comfortable without insulting the seller.

 

[justmund]

Well, considering the guitar was $10K new I would not feel comfortable paying $13K for it.

 

[shinksma]

Sounds like that shop is trying to overvalue that guitar. I am pretty sure you could order a new PS today with same specs for less.

 

[moT]

It's a nice guitar, but certainly not the specs I want and with no warranty even if I change my mind in 5 minutes. However, for the right price for this guitar or one similar, I would happily try to live with it. No back story from the sales rep to warrant a mark up from new either.

 

[bluefade]

You can buy a new one for under ten grand...used ones ( from reputable dealers) for even less than that. KEEP LOOKING, they are out there.

 

[django49]

It sure would help if they had (or would publish) a certificate with actual specs.. And comments aside from "normal wear". I would assume they would have some difficulty selling it for half their asking price.

 

[Suppalak Klabdee]

You could definitely get the brand new one at less than this ridiculous asking price. Half of that may make it more attractive but yet....

And, if this is not what you want, then why bother anyway? For 6 grands, there are many brand new PRSi out there that will be exactly what you would want. Keep looking.

 

[HANGAR18]

Pawn shops always list items for sale at new or above new prices in the hopes that some dumb s.o.b. will just walk in there and pay the sticker price. They are not terribly honest people, generally speaking. If you are seriously interested, make them a reasonable offer based on your knowledge of the item. Convince then that you are not a sucker and that you know what you are talking about and they will be a lot more reasonable with you. Especially with something that expensive.

 

[ViperDoc]

There may be many PS worth 13K, just not this one.

 

[Dusty Chalk]

I know one of the tricks that some people employ when forced to sell something they really don't want to sell is to post it unrealistically high. And if someone actually takes them up on it, the dosh helps ease the pain of having to part with a beloved guitar/bass/mic/whathaveyou.

But that would be an individual, not a business. Maybe they're selling it on commission?

 

[moT]

Fixed the link...

Sorry for that. I was on a hand held device and apparently couldn't get the link right.

Keep looking.

I am. I wasn't serious about this guitar for the reasons listed above and also because I wasn't allowed to strum a single note. I was more offended for the guitar than anything else.

If you are seriously interested, make them a reasonable offer based on your knowledge of the item.

I couldn't in good conscious offer more than a grand or so and didn't want it for that price as I don't have that kind of money to spare for a guitar that may be a dud I have to send back to the factory to get repaired. I was also worried that they would be offended if they thought I was trying to low-ball them, so I just said 'thanks' and walked away shaking my head.

 

[MotorPro]

I have to laugh when people say they don't want to make a low offer and offend them.....they are a pawn shop. You can bet they were not afraid to offend the person who brought it in. I am sure at half that they are making a huge profit.

 

[LJD]

Price is delusional.

 

[RGM]

I believe pawn shops will pay one third of the street used price to acquire an item. So there's lots of room to negotiate and they will still make a lush profit. They pay low because they pay "now".

 

[Dusty Chalk]

I have to laugh when people say they don't want to make a low offer and offend them.....they are a pawn shop. You can bet they were not afraid to offend the person who brought it in. I am sure at half that they are making a huge profit.

Yeah, the markup is usually 4x.

 

[G-Man]

So the poor bastard that pawned the guitar paid $10,000 and probably got $4,000 for it and they are listing at $13,000? Cha, Ching. Do not feel embarrassed at all to haggle with these guys and make sure you do not back down but know your stuff. On a loan, these guys are charging an average of 5% per month plus storage and registration fees.

Great example is the original Mary Ford Les Paul on Pawn Stars. The owner brings it in, the expert looks at it, they haggle and settle for $500,000. The next day, the guitar was on eBay for $1.0 million minimum bid. Why either of these guitars were not on eBay for much closer than what they got for them is baffling me. What is so shady about that show is there is a vintage guitar store right down the street who brings in stuff like this all of the time and make it look like they are making a deal. Either totally fake or really dumb people.

 

[moT]

You can bet they were not afraid to offend the person who brought it in. I am sure at half that they are making a huge profit.

So the poor bastard that pawned the guitar paid $10,000 and probably got $4,000 for it and they are listing at $13,000?

I agree that they are making a huge profit at half their list price. Also, I doubt they gave the poor bastard more than a grand for the guitar. They might have gotten a lot more than a grand if it was jewelry that was worth 10k though. I can't tell anyone else what to pay, but if it is in good condition I would consider 4 or 5 grand a fair price for this particular guitar. I still wouldn't pay even a quarter of their listed price given what I know about this guitar so far. I might be back in Reno at some point and I am willing to bet even money that this guitar will still be hanging in their window then unless there was a significant change in management or something equally catastrophic as nobody will make an offer that will be accepted for a long long time all else being equal.

Cheers,
Tom

PS Their sunk cost is not my problem.

 

[Dusty Chalk]

Wandering around
Private Stock in a Pawn Shop
Subterfuge spotted

 

[Dusty Chalk]

Also, I doubt they gave the poor bastard more than a grand for the guitar.

It depends on the shop. On such a unique item, one would have to help the shop figure out what "paul reed smith private stock" went for, yet still be able to do the research for themselves. "No, really, look up "dragon's breath" -- I guarantee you, that alone will raise the price."