Cash Converters

barrymung

Not sure if this is in the right section..please feel free to move..it IS to do about a business..

Went into my local Cash Converters today, and was staggered by the relatively high prices on most items and it got me wondering. What do Cash Converters actually pay? Do they have a list of buying prices? What sort of percentage mark up do they use?

Another question: All their large screen LCD tellies were branded "LCD Digital". Are they no-brand tellies that they have re-branded with another unknown brand? If so, why have they done ŧhis?

weeclick

cash converters always sell at high prices, buy at low I suppose thats how they make they're money. Ive got of using cash converters a few times myself but found I was better off using ebay because your more likely to get an honest price for your stuff!

I went in offering them about 20 ps2 games (before ps3 was out) and they offered me 50p each for them! I check the shelves and they were selling single games at about £10 so with a mark up of £9.50!!

nomoneytoday

They work like many businesses... buy low and try to sell high. Pawnbrokers offer peanuts as many customers can't / won't sell elsewhere. There must be people who accept, or they wouldn't be in business...

Duncan_H

A friend of mine used to work there and back then (around 10 years ago) they used to have people in the shops who would decide what they would pay for an item. These days they have huge central

database

and look estimated prices up in there

weeclick

nomoneytoday wrote: »

They work like many businesses... buy low and try to sell high. Pawnbrokers offer peanuts as many customers can't / won't sell elsewhere. There must be people who accept, or they wouldn't be in business...

exactly! And you usually find (although not in all cases) many people use cash converters when they are really stuck for money and need to sell stuff quick (or at least thats how it works here) and I think shops like cash converters use this to their advantage sometimes - I shocked them that I walked out without selling them a thing - their jaw almost hit the ground!

But for as long as people keep accepting theyre ridiculous prices for their stuff then theyll stay in business!

RussWWFC

I think Cash Converters are great if you know what you are doing. I've sold lots of stuff to them for more than what I'd get on eBay (or crap that no-one wants)

On the other hand I've had silly prices offered when I have taken stuff in for a valuation.

Had a few good bargains on the buying side too - my 37" HDTV cost me £289 about a year and a half ago, really pleased with that. And I've seen PS3's for £159 and Wii's for £79, way below what they cost on eBay at the time

And they come with a 60 day guarantee which you don't normally get on secondhand stuff if you buy on eBay. And even if you change your mind on something (A DVD recorder I bought didn't play VCD's like I wanted to) they give you a credit note or exchange