Quote:
Originally Posted by JFK
rule of thumb, 10 cents on the dollar you paid retail, if that. For jewellery 1/2 melt or less, you dont pay for stones, or signature, ie signed Tiffany, it could be fake.
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Dad would go round picking up the junk pieces for 75% of spot (the value of the gold) then drive up to LA and sell it for 90%. Sounds small until you realise the amount he was was dealing in. He would of been an easy target for a robber.
The pawn business is mostly about pawn shops selling to dealers who then sell to specialist shops. The swap meets opened at like 6.00 in the morning with a line of dealers eager to get round and pick up bargains.
With something really valuable, my Mother once bought an old toy metal train set in it's original box, from a garage sale for $20, she sold it immediately to a dealer in old toys for a lot more who probably sold it again.