Every day at a palm beach pawn shop someone comes in trying to sell something that is not authentic. Whether they know it or not it happens all the time. This is how a Palm Beach pawn shop could lose a lot of money.
Most commonly we are talking about high end luxury watches or diamonds. There are hundreds of thousands of fake watches and diamonds floating around in the market place. It is up to the workers at the Palm Beach pawn shop to figure out whether what they are buying is real or fake.
When it comes to watches, after years of experience, it becomes easier and easier to figure out whether a watch is real or fake. Just holding it can tell you a lot about it’s authenticity. If it just doesn’t “feel” right, it probably isn’t. Diamonds are a little harder but with experience and the help of an electronic diamond tester it makes it easier. A real diamond may be worth $10,000 while a fake CZ is only worth a few bucks. A Palm Beach pawn shop has to be very careful to not lose a lot of money.
Sometimes a Palm Beach pawn shop may buy something that is 100% authentic but still lose money on it. If the item is stolen and the police think that the pawn shop had knowledge that it was, then they can confiscate the item.
Rick from Pawn Stars, in this video, said that his biggest bust ever was when he bough two diamond stud earrings that were stolen. He paid over $40,000 and the police took them away. If you’re a Palm Beach pawn shop you have to be very careful when it comes to buying just about anything.
by, Seth at Boca Raton Pawn