Pawn Stars on the History Channel is a great show. It's very entertaining and it's fascinating to watch consumers try and sell the items to the pawn shop.
The most interesting thing about this show is what the customer perceives their item to be worth. Many customers have no idea what the true value of their item is worth. Some rely on the pawn shop to tell them the value of their item. Others have an unrealistic expectation of the value of their item.
Importantly, these all affect how the negotiation process begins and ends.
The funny thing about watching this show is that virtually all of the people who come into the shop to try and sell their items, when asked how much money they want for their item, give their bottom line number of how much they will take in order to sell that item.
What do you think is the first reaction when Rick Harrison, the shop owner, says to them when the customer tells him how much they really want?
The customer is always shocked to learn that the pawn shop will not give them the amount that they wanted.
As a result, they're forced to negotiate at a far lower price than they ever expected or intended.
Imagine if New York personal injury cases, medical malpractice cases and wrongful death cases were negotiated the same way that consumers negotiate when trying to sell items to the pawn shop. It would have devastating results.