Quote:
Originally Posted by Porsche-O-Phile
So how does this work exactly? Someone comes in with some item and you buy it from them and give them "$X" for it. You then turn around and try to re-sell it or no?
What kind of tickets would be worth $1,000? And stay good for seven years?
I'm missing something here, I know it. My contact with pawn shops has been a bit limited - I bought a VCR at one years ago back in college and sold off a stereo I didn't use any more, but that's been about the extent of my contact.
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There are two ways it works.
"Take this and give me cash so I can buy some weed, thanks goodbye"
or
"Hold this as collateral for a loan and I'll pay you a storage fee every month until I repay you"
If in the second example you miss a "storage" payment he can sell it to recoup his cash outlay.