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I think they must be really struggling to make money and keep shops open anyway, the cashgenerator shop opposite wilkinsons closed last year, that should have created more business for the cashconverters store on west street but that closed a few months ago too. The truth is for outright selling there's always a better place, usually ebay which is where the stores sell most of their stuff.

 

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On 12/01/2019 at 11:20, mike84 said:

Pawn broker trying to make maximum amount of money / profit.

 

It's not really that surprising.

 Exactly, it has been going on for 100s of years.

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Places like cash converters pray on desperation. 

 

Whether it be someone in dire financial trouble and needing cash quick or (most likely) someone needing to shift (stolen) stuff fast. 

 

Because of these two types they know they can offer Rock bottom prices knowing the seller has no choice. 

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On 12 January 2019 at 12:03, Eric_Collins said:

Cash Converters is only good for one thing ..... getting your tools back after your vans been broken into.

The Police in many areas will now advise victims of burglary and theft to check Cash Converters to see if their items are there. A mate of mine once bought his own stolen telly back from Cash Converters because at least he knew that it worked! 😡

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Next time any of you venture into cash converters do check out the tool. You’ll notice most if not all are the 110v stuff with the industrial 3 phase plugs on that are no good for your average DIY users own. 

 

The only people who who own them are trades people who won’t buy from cash converters as the tools are their livelyhood and buy new not second hand. 

 

The people who who take them in look like they’ve never worked a day in their life , gaunt looking crackheads types. 

 

 

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On 12/01/2019 at 16:51, Resident said:

CEX are the same with gaming products. 

 

Few years ago I wanted a specific GPU but it was just out of my budget new from a reputable company. 

 

Walked past a CEX store and saw the GPU in the window to check the price. It was marked at Grade A, no box and yet it was still 15% more expensive than new. 

 

Luckily a few days later I got an 'newsletter' email from the aforementioned reputable company offering me 10% off and free shipping which just scraped inside my budget

noticed similar today actually from CEX in Whitby, looking for a phone, saw in the window a Galaxy J3 for £100, the first links on google tonight were under £100, anyway gone with a brand new HTC 12 (£149), the eldest helped me by using her student overdraft and i pay her back, then brand new and better specs, no rip off

Edited by melthebell

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Exactly. Scrap price is fixed on a daily basis on the day Cash Converters offered me £25 it was about 12 quid a gram for 9ct gold. They would have sold it for probably 11 quid a gram which is over a 100% profit margin.

As for the shops declining to quote a price over the phone you have to wonder what they are trying to hide? They could easily quote a minimum price they would pay based on the current scrap price (allowing a profit for themselves).

As I said it pays to do a bit of research and, based on my experience, think carefully about selking gold to Cash Converters!

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4 hours ago, steve999w said:

.

As for the shops declining to quote a price over the phone you have to wonder what they are trying to hide? They could easily quote a minimum price they would pay based on the current scrap price (allowing a profit for themselves).

 

Oh come on.  Someone calls them offering to sell a cheap gold chain that they make £20 profit on, IF they get rid of it after it's sat in their shop for weeks, and you interpret their reticence / boredom as some kind of scam.  The truth is more likely they simply weren't that bothered to buy it from you sight unseen, as it wasn't worth their effort.

 

We're not talking the crown jewels here.   

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13 hours ago, melthebell said:

noticed similar today actually from CEX in Whitby, looking for a phone, saw in the window a Galaxy J3 for £100, the first links on google tonight were under £100, anyway gone with a brand new HTC 12 (£149), the eldest helped me by using her student overdraft and i pay her back, then brand new and better specs, no rip off

It makes you wonder if they actually sell this stuff at those prices, or does it just hang around until out of date and sold off for buttons in a sale?

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4 hours ago, geared said:

It makes you wonder if they actually sell this stuff at those prices, or does it just hang around until out of date and sold off for buttons in a sale?

It's sold to people who can't really afford it on tick so they pay over x-weeks till it's paid off. You see it on a lot of the benefits programmes as usually a passing comment about kids presents ..

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I once bought a Psion Organiser from them for a fiver back in the 90s, before people went retro crazy.  It was labelled as a "70s calculator"

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