#1
I was watching this show called "Pawn Stars" and they bought a guitar from a guy for $1000 who wanted to sell it for $3500. The guitar was a 1942 Gibson L7. The guitar was in ok condition, the person who restored it just buffed the paint and replaced the frets on the neck all for $450.

SO I was wondering, did the guy that sold it get ripped off by the pawn shop?
#2
id say so.... 1942 is a long time ago. if les pauls from now sell for like 2000 that thing would be a fortune.
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#3
Any time you sell something to a pawn shop, you get ripped off. They aren't going to give you what something is worth. They have to be able to make money by selling it for what it is worth.
#4
^Truth. Usually, at best you can expect one third to half of the fair market value of any item, value of course being determined by them. They won't hesitate to offer less if they think they can get the item cheaper. Never had any to offer a ridiculously low price, though. It would take a pretty cold-hearted guy to offer $200 on that Gibson

That sounds a bit low, though. Assuming FMV or blue book at $3500, most shops around here would start around $2300 and lose interest around $2800. That's not an exact science, just a pattern of behavior I've noticed from ones around here.
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#5
I've seen that show. Those guys pretty well try to pay about 30% of what they think something is worth.
#6
That's awful. He got screwed over.

The lesson learned is never sell your gear to a pawn shop. Be patient and wait to sell it for what it's actually worth.
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