Jump to content

Tell me about Pawn Shops in Cebu


Travis

Recommended Posts

RogerDat

I bought 2 45's in our pawn shop in Virginia, and the ones here are a bust. No tools, guns, or whatever, just junk jewelry.

  • Like 3
  • Thanks 1
Link to post
Share on other sites
  • Replies 30
  • Created
  • Last Reply

Top Posters In This Topic

  • Travis

    6

  • Enuff

    4

  • smokey

    3

  • RogerDat

    3

Top Posters In This Topic

Popular Posts

I bought 2 45's in our pawn shop in Virginia, and the ones here are a bust. No tools, guns, or whatever, just junk jewelry.

Well I live in Montana. I had wifi with Google in that thar outhouse but my horse stepped on it. 

I told a friend I wanted to open a pawnshop, so she suggested I stay for one day in her own branch and observe. Theirs is gold=75% of raw value, diamond=5% of market value, 5% interest a month, hold f

A_Simple_Man
13 minutes ago, Travis said:

I own a couple of pawn shops and I like to check them out when I am in different places. 

If you were to try something like a US style pawn shop here (thinking of Pawn Stars TV show) it would likely take off, but it would not be what the locals call a pawn shop.  The local pawn shops seem to make most of their money sending and receiving money transfers with a small amount of money loaned on items that they never seem to sell.

If you were to open something like "Travis Buy and Sell" and let it be known that you would "buy an item with the option to buy it back within 30 days"  then you would have a pawn shop, but it would not appear to be one so the big guns may just leave you alone (Big guns referring to the L'Huillier family who seem to own the vast majority of pawn shops, and Palawan Pawn Shops who own the rest).

Good luck with it.

  • Like 1
Link to post
Share on other sites
smokey

We have a resident who its said has a few pawn shops i dont know but his truck has some type of pnp class of thing on it

Edited by smokey
Link to post
Share on other sites
newtocebu

Pawn shops in the Philippines thrive on the 'two week millionaire' business 

They come in by the plane full, fall in love by day one, promise marriage and buy ring by day two

Get back on the plane home, never to be heard from again

Ring pawned 

Rinse and repeat 

Link to post
Share on other sites
Alfred E. Neuman

I told a friend I wanted to open a pawnshop, so she suggested I stay for one day in her own branch and observe. Theirs is gold=75% of raw value, diamond=5% of market value, 5% interest a month, hold for 6 months and alert owner when due for posession, plus the owner will ask for 3 more months extension. Too long to make profit.

  • Like 1
  • Thanks 1
Link to post
Share on other sites
Busted Dick

I was in the UK mining industry in the late 70's/early 80's; we were on strike in '83; my marriage broke up so I tried to sell my 9ct gold ring; was told that it's almost worthless because the gold content is so low.  Many years later, after travelling much of the world and occasionally buying proper jewellery, I realise that is true; us Brits are being shafted as far as gold jewellery is concerned.

That said, many many many years ago I pawned some jewellery in UK (not silly UK 9ct stuff) ; bought it back out and then pawned it again. And again.  Downward spiral but eventually I managed to get myself out of it.  Not a good way to live but sometimes, if you are close to the bottom, and have a plan to get yourself out of the mess you are in (which I did) it's an option.  

If I were in a position to own a pawn shop, either here or elsewhere, if properly run I am sure it would be a very lucrative business.  Just don't touch UK fake gold!

  • Like 1
  • Thanks 1
Link to post
Share on other sites

Thanks everyone.. We charge 20% here in the states. 

 

One thought is that a filipino doesn't have much to pawn. Most are too broke to have a dewalt 20 volt drill and a 60 inch tv to pawn.

Link to post
Share on other sites
22 minutes ago, Travis said:

Thanks everyone.. We charge 20% here in the states. 

 

One thought is that a filipino doesn't have much to pawn. Most are too broke to have a dewalt 20 volt drill and a 60 inch tv to pawn.

one member had a "pawn" type business but focused on cars, trucks and motorcycles. he also had storage units. it was for sale I believe last year. said he did very well but very time consuming. 

Link to post
Share on other sites
Just now, Enuff said:

one member had a "pawn" type business but focused on cars, trucks and motorcycles. he also had storage units. it was for sale I believe last year. said he did very well but very time consuming. 

And who might that be?  : )

 

Link to post
Share on other sites
Jim Sibbick
14 hours ago, Alfred E. Neuman said:

 diamond=5% of market value, 5% interest a month,

That explains something.

About 20 years ago now, my ex wife bought a diamond bracelet in a pawn shop in Cebu City, for the piso equivalent of about aud $1000. Back in Australia, we had it valued at aud $7,000

If they only gave the original owner 5%, the pawn shop did well out of the deal too!

Link to post
Share on other sites
53 minutes ago, Travis said:

And who might that be?  : )

 

can't remember, but he was British. maybe someone can recall.

Link to post
Share on other sites
smokey

Yes buy and sell and loaning can be big but unlike west its very dangerous remember the ladies in the loan. Buisness shot by the police guy who borrowed from them

Edited by smokey
Link to post
Share on other sites
A_Simple_Man
4 hours ago, Travis said:

One thought is that a filipino doesn't have much to pawn

Oh yes,  the filinas have all the stuff that their previous foreigner bought for them, or the current foreigner if he is out of the country and not sending enough money.  And all the filipinas have cell phones that they will pawn at the drop of a hat if they are low on cash.  Problem is so many are fakes that you have to know your stuff.  Same with the guys pawning tools.  You have to know the difference between a fake Makita and a real one if you are taking it on pawn.  Its hard to spot the difference on the surface.

  • Like 1
Link to post
Share on other sites
RogerDat

It is agents the law here to be a fence, so most stick with jewelry and such. If it has a serial number, they do not want it as no way to tell if it is stolen was what i was told years ago.

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..