Meet the King of Pawn Shops

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March 20 (Bloomberg) –- Gold & Silver Pawn Shop Co-Owner Rick Harrison discusses the History Channels’s “Pawn Stars.” He speaks with Matt Miller and Trish Regan on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

I'm hoping you can point me in the direction of a 1966 buick riviera -- why do i want you to do that?

That's on the prompter.

I don't want a buick riviera.

But i get he could get you one.

I have seen the show a lot, but i do not see you dealing with cars that much.

Mostly abraham lincoln's handgun or mohamed ali's paintings.

I do a couple million dollars a year in cars.

Regardless of how the economy does, you are doing 52 episodes a week back of two episodes every thursday night, every week, always number four or five for the entire week.

What do you think is behind the success of the show?

What is it that viewers are responding to?

The fact that you are watching a game show, not a reality show.

Act one, is it real or not?

You get past that, you get to round two, how much money you're going to get for it.

Bonus round, i call in an expert . there used to be a show, i'm not sure if there still was -- kind of interesting where this auction guy would know around telling people what their grandmothers teacups were worth.

Pbs show, i remember that.

You have also the characters.

I was thinking in the break i don't know how you put up with your employees sometimes.

The best part of my job is working with my family and the worst part of my job is working with my family.

What are you guys doing online?

We do a lot of stuff online.

We are staying really busy.

As a matter of fact, we actually have on my website -- we started doing live shows, and we are getting -- you are doing live shows?

Yes, on the website, we are getting 60,000 or 70,000 views added time, and we just learned doing that.

What about traffic in the store.

I have always wondered -- two people go in because they know they could be on the show if they have something cool?

It is sort of a tourist attraction.

You have a lot of neat stuff on the walls.

I have seen a couple of really cool looking things.

A derringer, somebody's colt.

How did the show come about?

This was your idea?

Extra lack of a better term, i have always been a media whore.

I think you can say that.

It's cable.

I always got a lot of national press.

I figured one day, if i got a reality show, if i got a season or two, that would be great for business.

So i did the show for four years -- everyone kept telling me the but he wanted to watch a show about for fat guys in a pond shop.

Boy, were they wrong.

Eventually history picked it up.

Is, they saw what i wanted to do and presented it to history, and the rest is history.

I wonder about your rolodex.

You seem to have these great experts to call.

It's such a wide range of products that you are looking at . how did you find all these people?

First of all, i have been at that location for 26 years now.

Before the show, they were not called experts.

They were people i did this with . you cannot be an expert in everything, and i realize really early in my career, find people you can do business with.

As long as they are good business people, you can both make money.

Do you get fooled much?

You think it is real and it is not?


What is the giver that?

How do you know?

Basically, just look at something, start asking if it's right.

If you are not sure, it looks wrong, it's probably fake.

If you are not sure, you find someone who does know.

One of you guys knows a little bit about everything.

What is the most challenging thing you have ever had?

Like, a stradivarius violin?

I have a book that took over a year to verify that there was no tenet by some very important people.

We are still getting everything verified.

It has been over a year.

How do you do on the pond side of the business -- the pond -- the pawn side of the business?

I'm not going to buy it unless i'm going to make money on it.

Art is a weird thing.

Generally, you have to plan on it sitting around for a lot longer.

Does not turn as quick.

A rolex watch will turn 10 times as quickly.

It's a bizarre business because you have such a wide product range.

With the discount people get?

You goodbye a practically new rolex about 40% off, but other watches you could get 80% off.

It varies among items.

Jewelry you get for half the price.

Could we get your stuff on the web?

Do you put your products on the web?

Yes, we do.

It's a great name for a show.

I really believe on our premier night, we had great ratings, they went to their cable guide, clicked on it and thought they were going to see something completely different.

Thanks so much, rick.

Great meeting you.

Good luck tonight.

This text has been automatically generated. It may not be 100% accurate.


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