CEX "don't have the cash" to pay me for my iPhone

MORPH3US

illuminate wrote: »

I find it hard to understand why, what equates to a modern day pawn shop, might struggle, under the current economic circumstances.

Because you are not looking at both sides of their business.... yes they "buy" and this is what you refer to above that they should be doing a roaring business as people desperate for cash sell all of their worldly goods...

However what they buy, they also have to sell and if people don't have much money then they won't buy.... a shop full of valuable stock is useless if you can't move that stock.

In my opinion CEX sell their stuff far too expensive... I have only looked selectively but for second hand stuff it is expensive... I suppose it does come with 12 month warranty as new items would but they some of the items are not much less than buying brand new in a shop.

MORPH3US

@ anewman, your post is well out of order.....

What proof do you have that the OP is selling stolen goods...?

What a lovely way to welcome someone to MSE by accusing them of all sorts.

vivatifosi

rosysparkle wrote: »

CEX are mostly franchised stores, so one or more being in trouble doesn't necessarily mean the company is in trouble.

Absolutely true, but the company in trouble earlier this year was CEX itself. Having said that I've checked Companies House today and the London Gazette and there don't appear to have been any further notices. Their annual return is however overdue (and has been since May) and their annual accounts have not been filed yet. In the case of the latter they have plenty of time to get them in so aren't breaking any rules, but historically they would normally have filed by now. In addition they've just moved their registered office.

Daytona_nev

Pink_fluff wrote: »

What is CEX?

Basically it's a pawn shop which deals in electrical equipment.

Daytona_nev

Daytona_nev wrote: »

Basically it's a pawn shop which deals in electrical equipment.

And they usually smell of people with personal hygiene issues.

Just an observation!

PopeSock

Daytona_nev wrote: »

Basically it's a pawn shop which deals in electrical equipment.

And also games. And sells both at ridiculously high prices, which is probably why they are or were in trouble. They sell second hand games at close to the RRP of new games. Often above the RRP, since they don't follow suit when Argos et al reduce their games.

You may get more trade in at CEX, but since their goods cost more, it balances out.

WillBooth

Went into CEX today, wanting to trade in Battlefield 3. On the website, they offered me £36 cash if the discs were in good condition and all the leaflets the game came with were included.
When I said I wanted to trade it in for cash, the guy 'unfortunately' didn't have enough cash to cover the sale. What sort of major corporate chain electronics store doesn't carry enough cash pay £36 for a game they will earn £48 re-selling?

Rant over, also if anybody has any previous experience of similar problems, please let me know

Redvee

The only dealings I've had with CEX has bee in buying S/H DVDs & PS2 games. The last DVD I bought from there was last xmas and I sold it on Amazon marketplace for £3 more

Kite2010

WillBooth wrote: »

Went into CEX today, wanting to trade in Battlefield 3. On the website, they offered me £36 cash if the discs were in good condition and all the leaflets the game came with were included.
When I said I wanted to trade it in for cash, the guy 'unfortunately' didn't have enough cash to cover the sale. What sort of major corporate chain electronics store doesn't carry enough cash pay £36 for a game they will earn £48 re-selling?

Rant over, also if anybody has any previous experience of similar problems, please let me know

They might have already paid out to someone selling stuff in cash that day so the cash holdings could be low following banking.

prowla

I guess the store did only have a certain amount of cash - maybe it's better to pick the right time to go in.

I don't understand how they stay in business though, as their prices are really high, nearly new.

Still, I once sold them a rather shonky Blackberry, but I traded it for a Mac keyboard and took the difference as a voucher. The only problem is I'll never get around to using the voucher because even a tenner off still makes their prices high. Maybe I'll pick up a couple of DVDs and be done with it.