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On last night's Pawn Stars they checked out a custom trike. Looked good except that the owner said he has $100,000 invested in the trike. They offered him $10,000. Another guy with a Boss Hoss trike with a LS1 engine wanted $30,000.
On last night's Pawn Stars they checked out a custom trike. Looked good except that the owner said he has $100,000 invested in the trike. They offered him $10,000. Another guy with a Boss Hoss trike with a LS1 engine wanted $30,000.
I saw that show. The guy that owns that bike probably has more dollars than sense, and the guy that built it for him really screwed him on it. Now the guy thinks he has something because of what he paid. I've seen those bikes go cheap. Like the Pawn guy said, cut your loses and sell it.
Lets say that the trike was worth $30,000 on the open market. The Pawn Shop has to make a profit and the retail price doesn't make any sence to them. They have to sell that trike to make any money. People that buy at a pawn shop are also expecting a deal. I would only offer $10,000 and hope to get $15,000 but if someone rushed in and took it off my hands for $12,500 I would take it.
Lets say that the trike was worth $30,000 on the open market. The Pawn Shop has to make a profit and the retail price doesn't make any sence to them. They have to sell that trike to make any money. People that buy at a pawn shop are also expecting a deal. I would only offer $10,000 and hope to get $15,000 but if someone rushed in and took it off my hands for $12,500 I would take it.
One of the most rediculous things I see on TV is when the Pawn Shop guys have an expert appraise something, and say something is worth $2000, he leaves. The Pawn Guys ask the owner of the item what he wants, he says, the guy said it was worth $2000, I want $2000. Not a clue how the business works.
One of the most rediculous things I see on TV is when the Pawn Shop guys have an expert appraise something, and say something is worth $2000, he leaves. The Pawn Guys ask the owner of the item what he wants, he says, the guy said it was worth $2000, I want $2000. Not a clue how the business works.
Yep, I try and explain that to people. A better way the appraiser should say it is this is the price you would pay, if you were to BUY it. THIS is the price you could get it for, if you SELL it. What is happening is that old human trait of GREED kicks in.
One of the most rediculous things I see on TV is when the Pawn Shop guys have an expert appraise something, and say something is worth $2000, he leaves. The Pawn Guys ask the owner of the item what he wants, he says, the guy said it was worth $2000, I want $2000. Not a clue how the business works.
Not to mention there could be any number of problems with merchandise like a bike.
Or the merch is stolen and they lose everything.
Or it doesn't sell for a year and they have $10,000 tied up.
I'm really surprised they'll deal in some of the things they do.
On last night's Pawn Stars they checked out a custom trike. Looked good except that the owner said he has $100,000 invested in the trike. They offered him $10,000. Another guy with a Boss Hoss trike with a LS1 engine wanted $30,000.
That's the problem with custom,,,well,,,just about anything custom. If you got big dollars to spend, do you really want someones else's dream? No, of course not, you want your own new custom whatever. Even if the builder of that trike didn't royally screw him over and it did cost $100,000, there is no way anyone else would pay $100,000 for it.
The irony, I still don't think that guy believes he got hosed by the builder of that trike. Got to love people who don't shop around.
If it floats or has wheels, you better like what you are getting because you aren't going to get your money back out of it, no matter how cool it is. So you better enjoy it.
It takes a lot of different skills to build a unique project car/bike from scratch. Skills like design, drawings, machining, fabricating metal, fiberglass, electrical, suspension, steering, composites, painting and assembly. Very few people have all of these skills so they have to hire somebody else to do it for them. When you pay $80 per hour for outside assistance $100K is only 1250 hours. That isn't even including materials. Henry Ford sold millions of Model T's for less than $500.00 but the FIRST one probably cost him hundreds of thousand$.
GL2
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