One of the more well-known parts of Pawn Stars is the negotiations. The store tries to make money on what they buy, so they expect a certain return. If a deal is good for the shop, depending on how long it sits, and other factors determine what Corey Harrison and company expect to get back.
By now everyone knows that the show doesn’t pay full price for items. If an expert comes in and says something is worth $100, Rick or one of the guys might offer $40 at most. It all comes down to what kind of item it is. If the shop can flip it quickly and make money in a short time, it means they can pay a bit more.
Corey explained everything at History Con 2017.
“If I’m buying a gold coin, I don’t mind making 5%. If I’m buying a piece [of] art, I’d like to make at least 30-40%. Everything’s a little bit different. Antiques, I’d like to make 30% because it tends to sit around a long time in the shop.”
So, when you see Rick or Corey offer less than the value, that is the main reason why. There is a certain return they are looking for. If they can’t get those margins, they move on to the next thing. With the amount of business the shop gets, it’s no wonder they can be particular about what they buy. After all their hard work to get the show on TV, Pawn Stars continues to be a success.
This ‘Pawn Stars’ Star is a McDonald’s Expert
At the shop, it helps to have knowledgeable workers. Despite Chumlee’s inability to spot a fake Rolex, he does have some expertise. A lot of times, the goofy character is able to spot old toys and video games. If it’s the 1980s-90s pop culture, Chum knows it. However, he is also a big expert on McDonald’s of all things.
In the early days of the show, Chumlee’s knowledge came in handy. When a customer came in with a Ronald McDonald helium tank topper, he knew what to do with it. The piece was basically just a giant Ronald McDonald head. When the customer said they wanted $500 for it, Rick knew he had to have Chumlee come check it out.
When the Pawn Stars comedic relief came up he started to drop the wisdom. While he had never used one of the helium heads during his time as a Golden Arches employee, he knew a lot about it. However, Chum was not able to give a definitive answer on the price. The customer’s offer of $500 was negotiated down to $250 by the end of it. All with the help of Chumlee.