# Cash Converters!



## RWP (Nov 8, 2015)

I was looking at watches in the window of the local Cash Converters and I remembered someone got a nice Pulsar Chrono from them on here, at a real bargain price.

The watches in there were indeed priced very competitively but nothing caught my eye on this occasion.

It made me wonder just how little they must pay for them, and I bet they have 100 percent Mark up.

It may be worth hanging around the door in a flashers Mac whispering " got any watches Guv."


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## carlgulliver (Apr 6, 2008)

I had a Rolex explorer ii GMT that I was looking to sell early last year and the going rate for that model was around £3500 as it was around 10 years old. It had box, papers and service history, so I wondered in on the off chance to see how much they would offer me and they offered £1600 I soon told them where to go but just shows the profit they make as that would of gone in their window for at least double I reckon :bash:


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## RWP (Nov 8, 2015)

carlgulliver said:


> I had a Rolex explorer ii GMT that I was looking to sell early last year and the going rate for that model was around £3500 as it was around 10 years old. It had box, papers and service history, so I wondered in on the off chance to see how much they would offer me and they offered £1600 I soon told them where to go but just shows the profit they make as that would of gone in their window for at least double I reckon :bash:


 100 percent. Must be the desperate who sell to them :swoon:

They would do better in the local paper or on Gumtree for quick money.


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## carlgulliver (Apr 6, 2008)

Yup I think that's they rely on, people in need of cash urgently to pay bills etc.. I guess


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## xellos99 (Dec 17, 2015)

There not the only swindlers unfortunately. My neighbour died and had no family to leave everything. His car was afew months old and he paid 16K in a Vauxhall dealers. They ended up buying the car back for about 8K and put it back on the forecourt for 14.5.

6.5K profit, not bad Vauxhall


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## RWP (Nov 8, 2015)

xellos99 said:


> There not the only swindlers unfortunately. My neighbour died and had no family to leave everything. His car was afew months old and he paid 16K in a Vauxhall dealers. They ended up buying the car back for about 8K and put it back on the forecourt for 14.5.
> 
> 6.5K profit, not bad Vauxhall


 Robbery......simple :taz: Were his executors asleep?


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## Guest (Jan 11, 2016)

carlgulliver said:


> Yup I think that's they rely on, people in need of cash urgently to pay bills etc.. I guess


 i am on the fence with them they do pay out too little for things, but to be fair they could be stuck with whatever they buy and have to sell at a later date for a loss [unlikely] they are also tying up their money for how ever long and they do give money to desperate people who would have no where else to turn, some people myself included get bargains from them, i guess no-one forces anyone to sell to them or take a loan, pawn an item etc :watch:


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## RWP (Nov 8, 2015)

I can't complain too much without being a hypocrite, I have bought a couple of watches and a sound system from them in the past :swoon:


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## andyclient (Aug 1, 2009)

I have bought from them in the past , but i do think they prey on the vulnerable when it comes to them buying .


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## reggie747 (Sep 10, 2013)

andyclient said:


> but i do think they prey on the vulnerable when it comes to them buying .


 I disagree. It's not like the staff are waiting outside with a tazer and a butterfly net is it ?

People who sell there want a fast buck and that's it.


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## andyclient (Aug 1, 2009)

reggie747 said:


> I disagree. It's not like the staff are waiting outside with a tazer and a butterfly net is it ?
> 
> People who sell there want a fast buck and that's it.


 I'm afraid i don't agree with that , people who sell there generally *NEED* a fast buck there's a difference ,and thats who are being exploited imo


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## reggie747 (Sep 10, 2013)

andyclient said:


> I'm afraid i don't agree with that , people who sell there generally *NEED* a fast buck there's a difference ,and thats who are being exploited imo


 But that's just the nature of their business innit ? I suppose we could discuss the difference between *want* and *need* all day but as I see it, Cash Converters are simply doing their job.

It's a personal choice to either sell to them or you don't just like you choose to buy from then or you don't.


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## Guest (Jan 11, 2016)

reggie747 said:


> I disagree. It's not like the staff are waiting outside with a tazer and a butterfly net is it ?
> 
> People who sell there want a fast buck and that's it.





andyclient said:


> I'm afraid i don't agree with that , people who sell there generally *NEED* a fast buck there's a difference ,and thats who are being exploited imo





reggie747 said:


> But that's just the nature of their business innit ? I suppose we could discuss the difference between *want* and *need* all day but as I see it, Cash Converters are simply doing their job.
> 
> It's a personal choice to either sell to them or you don't just like you choose to buy from then or you don't.


 its very much a double edges sword, its a needed unwanted service IMO some people will gain, others will lose, i really am on the fence with them :wacko:


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## reggie747 (Sep 10, 2013)

Bruce said:


> its very much a double edges sword, its a needed unwanted service IMO some people will gain, others will lose, i really am on the fence with them :wacko:


 Bruce, have you ever bought from them or sold to them ?


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## Guest (Jan 11, 2016)

reggie747 said:


> Bruce, have you ever bought from them or sold to them ?


 i recently bought an underpriced watch off them, but i had my doubts about doing so, there was a docu series about them up here and they showed CC in glasgow and surrounding areas, there were some people that really wouldn't survive without them, like ones that were sanctioned by the DHS without notice and had kids to feed, its a really complex subject i think and like a lot of people i cant get my head around how little they offer for things like watches and jewellery .......i dont know...i am stumped :sadwalk:


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## Andyj56 (Dec 12, 2015)

I bought the watch from CC on Saturday, to be fair no one has to sell to them and possibly no one else would offer a higher price for the item. If the previous owner had advertised it in the local paper etc I would never have seen it and gone after it. I did not know I wanted one until I saw it to be honest! Same with the laptop I bought and they have a good guarantee with items which a private seller could not offer, I will continue buying off them if they have something we want at a good price.


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## Nigelp (Jan 28, 2015)

You do have to watch them as far as sales are concerned with watches because they don't always seem to know what to charge. This can sometimes result in a bargain whilst some watches are over priced. It is look of the draw.


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## kevkojak (May 14, 2009)

I've bought a few bits and pieces from them in the past. £100 and under is usually decent value, above that (anything Swiss) avoid like the plague!

I had a Tissot which turned out to be fake and a Raymond Weil held together with spit and sawdust. Both went back for a refund (if it looks too good to be true...)

Also, I feel like I'm forever pointing out fakes in their windows, you'd think they would have at least one professional on site - they don't even have anyone to change batteries in my local.

I did try to sell one to them once and all they did was go on e.bay, check the value then offer half. 
I decided to conduct an experiment - Second time around I listed a Zenith worth about £300 on e.bay at £650. They offered £250 on it. (I still kept it, I was just curious).

At the end of the day they are dealers with high overheads to pay. I do the same with diamonds, you can either sell to the trade for instant cash and let the dealer take all the risk, or put in the leg-work, sell privately and have the risk and hassle yourself, with no guarantee of a sale, quick or otherwise.

Quick story, I had a woman in recently I bought a diamond ring from at £450 and had it in the window at £750. Bear in mind most shops work on a 250% margin (and even more for new jewellery), I pay the fairest price in town by a long shot. Anyway she thought it was an unreasonable mark-up. I told her the best solution was to go to the bank, borrow a hundred grand or so, set up her own jewellery shop - with thousands of pounds a month in rent, insurance, amenities and other overheads - and sell it herself.

That might have been unreasonable but for Christs sake she could have taken it to a pawnbrokers and got £150 or had triple from me - and I'm still the villain. It's not about what it's worth, it's about what someone will pay. Profit is not a dirty word.

By the way, if I'm offered cheap watches for the shop I insist on a 100% mark up as well. I'm not greedy, very happy to make a couple of hundred quid on a thousand pound Rolex or Omega, but I'm not selling a £100 Tissot for twenty quid profit, it's not worth the space in my shop window.


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## Guest (Jan 11, 2016)

kevkojak said:


> I've bought a few bits and pieces from them in the past. £100 and under is usually decent value, above that (anything Swiss) avoid like the plague!
> 
> I had a Tissot which turned out to be fake and a Raymond Weil held together with spit and sawdust. Both went back for a refund (if it looks too good to be true...)
> 
> ...


 thats pretty much how i am seeing it Kev, its not a charity after all. in the likes of CC the logistics of it all must be horrendous plus staff wages etc etc etc


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## Nigelp (Jan 28, 2015)

kevkojak said:


> I've bought a few bits and pieces from them in the past. £100 and under is usually decent value, above that (anything Swiss) avoid like the plague!
> 
> I had a Tissot which turned out to be fake and a Raymond Weil held together with spit and sawdust. Both went back for a refund (if it looks too good to be true...)
> 
> ...


 The above is sense and fair. Shop workers work harder than any one to make a decent living especially the ones who work for themselves! How many holidays do you think they get for example and they carry all the risk! No Cushy numbers in that lark unlike the rest of us in cosy protected employment like teaching, law, the NHS, accountancy, working for your local authority or owt else. In comparison with shop work and shops. We are namby pamby wrapped in cotton wool and wet behind the ears. Shop workers and owners get the least protection in employment law of the lot of us! And no holidays. And then we get teachers and doctors on strike. Deary me poor them. :swoon:

I think we even had barristers on strike at one point and I would not pay that lot with washers! :laugh:


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## kevkojak (May 14, 2009)

I'm starting to like Nigel better than you lot.


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## RWP (Nov 8, 2015)

kevkojak said:


> I'm starting to like Nigel better than you lot.


 Give it time


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## ong (Jul 31, 2008)

I've bought off Cash converters but also have seen some dubious examples. Classic was a Breitling Super ocean about 2 years old with no box or papers and about half price over other similar examples. Looked impressive but had the wrong strap and the case back was push on and plain. Don't think they are crooks but reckon they get caught out and have to try and sell to keep up the takings.


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## RWP (Nov 8, 2015)

I had a chat with a buyer in Cash Converters and he told me people were constantly trying to con them......especially with diamond jewellery. Fake insurance documents, precious metal and fake stones etc, so a few fake watches don't surprise me :laugh:


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## Andyj56 (Dec 12, 2015)

kevkojak said:


> I've bought a few bits and pieces from them in the past. £100 and under is usually decent value, above that (anything Swiss) avoid like the plague!
> 
> I had a Tissot which turned out to be fake and a Raymond Weil held together with spit and sawdust. Both went back for a refund (if it looks too good to be true...)
> 
> ...


 Wise words, I agree 100 %! :yes:


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## Stan (Aug 7, 2003)

kevkojak said:


> I'm starting to like Nigel better than you lot.


 I worked in retail for 13 years, on and off. As manger an a technical specialist, I wouldn't recommend it to anyone.

An employee needs some respect from the employer or the customer to make the job feasible, that was scant in my experience. :wink:


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## Markrlondon (Feb 20, 2009)

kevkojak said:


> I decided to conduct an experiment - Second time around I listed a Zenith worth about £300 on e.bay at £650. They offered £250 on it. (I still kept it, I was just curious).


 Clever little experiment. ;-)


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## taffyman (Apr 26, 2011)

RWP said:


> I was looking at watches in the window of the local Cash Converters and I remembered someone got a nice Pulsar Chrono from them on here, at a real bargain price.
> 
> The watches in there were indeed priced very competitively but nothing caught my eye on this occasion.
> 
> ...


 We have a cash generaters an the guy told me that They look up a simular item in a store h mag ,remove the vat and then half the remIning money whichthey then offeryou weather that works in all cases i cant say .

I have also hung around the store door and offered to buy a watch from a seller as far as i can see providing you do the deal outside the store its legitimate and wastold that by the store worker


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## scottswatches (Sep 22, 2009)

I just got a gold plated watch, with box and papers, for a very good price from CC, but the description didn't match the watch when it arrived.

You would think a pawnbroker would know what 0.375 means when stamped on a watch case! :toot:

Excellent for me, but imagine the poor sod who thought their watch was gold only to be told by CC it was plated and then offered a tiny amount of money. No doubt it was a genuine mistake by them (otherwise they would have sold it as gold), but you would hope for better


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## Andyj56 (Dec 12, 2015)

Wow! What a result, any pics of it? :thumbsup:


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## Foxdog (Apr 13, 2011)

Nigelp said:


> . Deary me poor them. :swoon:


 No! poor you Nigel, if you think that the jr doctors are wrong to fight for better conditions. Having had experience of both these professions in the last 24hrs I think that they deserve every penny and holiday they get mate and I'm pretty sure should you spend a week on call in A&E or a term in their shoes (if you lasted a term!) you would not have the same opinion you started with.

Fox


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## Guest (Jan 14, 2016)

Foxdog said:


> No! poor you Nigel, if you think that the jr doctors are wrong to fight for better conditions. Having had experience of both these professions in the last 24hrs I think that they deserve every penny and holiday they get mate and I'm pretty sure should you spend a week on call in A&E or a term in their shoes (if you lasted a term!) you would not have the same opinion you started with.
> 
> Fox


 their working hours and conditions would probably be illegal in any other profession


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## hughlle (Aug 23, 2015)

Bruce said:


> their working hours and conditions would probably be illegal in any other profession


 It is rather crazy that a doctor is being forced to work around the clock, yet a lorry driver must clock off after 10 hours by law.


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## Guest (Jan 14, 2016)

hughlle said:


> It is rather crazy that a doctor is being forced to work around the clock, yet a lorry driver must clock off after 10 hours.


 it is Hugh, when i was an RAC patrol, the company got the patrols special dispensation from europe allowing us to work unlimited hours and boy did they use that loop hole, i could do 100+ hrs a week easily and so tired i could barely think


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