Something doesn't add up

Dick #2 has been quoted as saying pre-Pawn Stars, his business had about 70 people a day come into his shop. I think it is safe to say those were actual clients hoping to pawn their item, not tourists; post-Pawn Stars volume is between 4,000 and 5,000 VISITORS a day and the G&S Pawn website stated that ONE IN ONE HUNDRED VISITORS is there to conduct traditional pawn shop business.

Their pawn business was significantly reduced because filming interrupted so many of the pawn shop transactions (employees losing commissions) and I would imagine merchandise sales suffered too. Their solutions to those problems were to build a stand-alone TV set at the back of the building and open an express pawn window on the side of the building. Win-win situation.

Therefore, it is safe to say the Gold & Silver Pawn Shop’s main source of revenue is no longer derived from loans on pawns but instead merchandise sales, etc generate the majority of the income.

Russell’s purchased his home for $1.1M in June 2012 and is on 2 acres, two stories, 6,206 sq ft, 3 BR, 3 Baths (Full), pool, spa, fireplace, 730 sq ft garage. Built in 1981. He didn’t buy this house from his wages as an employee of Dick #2.

Dick #1 has invested heavily in property. Since 1994, in Clark County alone, he has spent $1.92M purchasing various types of properties (private and commercial). His house, purchased for $75K in 1994 is now assessed at $818K. Of the $1.92M amount, $1.52M was spent on property purchases beginning in 2011. His property investments can largely be attributed to income derived from show income, not pawn shop income.

Dick #2 has purchased the whole block where his pawn shop is located and has built a Conex–based Harrisonville next door for a reported $2M. His house, purchased in 2012 for $550K, is on .53 acres, 2 stories, 4,812 sq ft, 625 sq ft guest house, 5 BR, 5 Full Baths, ½ bath, 3 fire places, pool, spa, 2,697 SQ FT GARAGE and is assessed at $777K. Dick #2 owns a fair amount of other properties too including a “ranch” on the west coast of Oregon.

Dick #3’s house was purchased for $1M in 2013 and is assessed at $776K. 1.05 acres, 2 story, 5,344 sq ft, 6 BR, 4 Full Bath, ½ bath, 2 fire places, pool, spa, 1816 SQ FT GARAGE. His ex-wife may have gotten that property in the divorce though.

Dicks #1 and 2 were successful before the show but their income is now based on salary from the show, merch sales, personal appearance fees, endorsements, investments, etc, not the pawn shop revenue.

Dick #3 and Russell were never successful and continue to leech off of Dick #2.

You are quite right. A good rule of thumb on how much it cost to borrow money on something at a pawnshop is they charge 25%/month on a 90 day loan. So if you pawn something for $100.00 an pay it off 90 days later, you will pay $175.00, $100.00 the amount borrowed and $75.00 in interest and fees.

Say they make 100 $1000.00 loans in a month, if they are all paid back in one month, the shop would make $25,000.00.

1 Baker 11, in pursuit of 1973 yellow Mustang license number 614 Henry Sam Ocean