Easy Money PawnShop Rates

[WorriedNoodle]

Can someone educate my non business like brain on these Easy Money Places. I notice on my daily rounds when I pass (and never go in!) both real gold shops and these Easy Money shops as in the picture that the rates in the past have made sense with the pawnshop rates closely aligned to gold shop rates usually with a 1000THB added for service fees I guess. When gold was selling at 30,000 at the gold shop these pawn shops might have displayed 31,000 sell rates for example. But ever since gold prices in gold shops got over 33,000 the pawnshop rates have never kept pace and now always show buy and sell rates below gold shops rates by at least 1500THB. So how exactly does this work? Are there two different market rates for the same quality gold once it gets too expensive and people restricted on where they can buy and sell from?

 

Edited February 6 by WorriedNoodle

[jvs]

Maybe because people do not really want to sell their gold and just pawn it for awhile?

You can sell it in real gold shops but then it is gone.

Kind of makes sense to me.

Probably ornamental gold that has sentimental value.

[flyingtlger]

10 minutes ago, WorriedNoodle said:

Easy Money shops

Easy money for shop owners only....

[FritsSikkink]

The owner of a pawnshop will always give you less money than the goods are worth. So they can make money when they want to sell it once people don't pick up their items on time.

[Mike Lister]

Buying gold jewellery has always been a Thai persons line of revolving credit that can get hocked and repurchased easily.

[WorriedNoodle]

7 hours ago, FritsSikkink said:

The owner of a pawnshop will always give you less money than the goods are worth. So they can make money when they want to sell it once people don't pick up their items on time.

 

Yes but the pawnshop takes less money off you to pawn the gold also shown by the rates in the photo whose buy/sell values are about 2000 less than at gold shops.

[FritsSikkink]

16 hours ago, WorriedNoodle said:

 

Yes but the pawnshop takes less money off you to pawn the gold also shown by the rates in the photo whose buy/sell values are about 2000 less than at gold shops.

Once pawned it is secondhand, there could be scratches etc. You will not have then when buying new. Secondhand things are cheaper than new things.

[john donson]

On 2/6/2024 at 9:43 AM, WorriedNoodle said:

Can someone educate my non business like brain on these Easy Money Places. I notice on my daily rounds when I pass (and never go in!) both real gold shops and these Easy Money shops as in the picture that the rates in the past have made sense with the pawnshop rates closely aligned to gold shop rates usually with a 1000THB added for service fees I guess. When gold was selling at 30,000 at the gold shop these pawn shops might have displayed 31,000 sell rates for example. But ever since gold prices in gold shops got over 33,000 the pawnshop rates have never kept pace and now always show buy and sell rates below gold shops rates by at least 1500THB. So how exactly does this work? Are there two different market rates for the same quality gold once it gets too expensive and people restricted on where they can buy and sell from?

 

 

 

the rate you think they will give you advertised

 

is more than you actually get to start with (gold bars price while 99% of thai only have ornaments)

 

plus the monthly cost that will be deducted

 

if you ever want to buy it back from them