'Pawn Stars' boss Rick Harrison overpays for an Olympic coat because the expert was 'out of town'
Rick Harrison is good at clinching deals for items at a lower price, so he can sell them at a profit later, but sometimes he is unsure about the true value and needs an expert's opinion. Usually on “Pawn Stars,” Harrison calls the expert, the item gets an appraisal, negotiations take place, and a deal is struck after a smooth process. However, that was not the case in an earlier episode of the show when a woman brought a jacket worn by an American athlete in the 1956 Winter Olympics. Harrison had to go with his gut when negotiating for the coat, and he ended up paying more than what it was worth.
The guest had initially wanted $1200 for it, but the coat was missing a hood, and it was unclear whether it belonged to a medal-winning athlete. Harrison, at first, said that he would pay $600 for it, but the guest played hardball. She said that she’d leave with the item if she were offered anything less than $850. Since he didn't have a lot of options left, the pawn shop owner had to cave to the guest’s demand.
When the expert came back to town, Rick and his father, Richard Benjamin Harrison, went to his store and inquired about the value of the item. The expert was a man named Jeremy, the owner of Ultimate Sports Cards & Memorabilia in Las Vegas. Jeremy also noticed that the coat didn’t have a hood, but confirmed that it was not a fake. However, he said that the coat was worth $800, which meant that Rick had overpaid.
When he said to the expert that he paid $850 for it, Jeremy said, “$850? Yeah, that’s around what I would probably see it selling for. These are really rare and unique so you might be able to turn it for something there.” However, he didn’t seem too confident when he said it. Richard was not happy with his son overpaying. “We’re supposed to make money. You paid too much again,” he said, the disappointment clear in his tone.
After Rick had initially agreed at $850, he had asked the guest how much she had paid for it. Turns out that she had bought it at a thrift store for less than $15. “That’s a good score,” Richard had said after hearing it at the time. Turns out that she really played the stars of “Pawn Stars” to turn a massive profit. However, that didn't mean the coat doesn’t have any historical significance.
The 1956 Winter Olympics were unlike any other edition of The Games. It marked the debut of the Soviet Union in the sporting event, which dominated proceedings. The US won seven gold medals in it, doing its best in figure skating. However, they won the silver ahead of Canada in hockey, which was a big deal at the time. It was also the first time the Winter Olympics were telecast in multiple countries around the world.
The fact that it took place at the height of the Cold War and had both the United States and the Soviet Union playing was significant as well. Overall, even if Rick slightly overpaid for it, it’s an item that he can show off.
