'Hardcore Pawn's' Les Gold's Tips for Buyers, Sellers

Star of hit reality series explains why sellers want to strip any emotion they have for their items.
3:23 | 06/18/13

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Transcript for 'Hardcore Pawn's' Les Gold's Tips for Buyers, Sellers
A friend of the program, les GOLD, STAR OF truTV'S SHOW "HARD Core barn" a new book "for what it's worth, business wisdom from a pawnbroker." None other to go to than a pawnbroker and les gold. I want to hear about the book then we'll have people come in that will critique their negotiating tactics. I can do that. The book, we see -- I think i have a feeling and sense of who you are but why did you want to write the book. Because you didn't know who i really was. This is a journey. This taos about me being 7 years old and making my first sale for 10 bucks felt like a million. From there I was hooked into the business and built a 50-000 square foot facility and now a reality show a hit with million of viewers. It's been a heck of a ride. A couple people here. Let's get the negotiating going. Emily gerard. You brought us what today. This is my great great aunt rae's broach. So did you have an idea of how much you wanted for it? I was thinking at least a thousand. Why? Why? I mean it's -- sell it to me. Okay. It's gold, it's got the diamonds -- I think that's a topaz. It is. It looks pretty big to me. You have an emotional bond to it. When you want to sell something take the emotion out of it. When you are selling it to someone, all you're looking at is the piece. So I'm looking at it as a business decision. You're looking at it because it's your aunt. So you wouldn't take 00. No. You wouldn't take 900? Okay, 900. Okay. So then I already know that there's wiggle room. Emily gerard, thank you very much. Stand by. Next up. Hi, how are you. James duran with some vintage. Records that I found in my first apartment in new york city and they are carnegie hall recordings from preworld war ii to 1939, 1942. What do you want for them? 50 bucks each? How did you figure 50? Just because it said carnegie. Yeah. You reached up in the sky and said 50 sounds like a good number? Bad negotiating. You have to understand as a buyer I have to resell them so there has to be atle wiggle room for me and that's if you read the book you'll get it. I will read the book. Ready to go. Thank you, james. You know, I wanted to take a look. It seeps do whatever you can to take the emotion out of it. Also, do a little -- with the internet, do some homework. Right. Have a reason if nothing he, know what it is I'm trying to sell you. Right. It seeps you can exploit if not an emotional attachment but really if you're coming at it with more information, information is always going to win. No question. Like I say in the book, three things to do, emotion, when you're selling an item, bring the emotion out of the buyer. When you're buying an item, keep no emotion. Know your bottom line and main thing be able to walk away from the deal. If the deal ain't right, walk away. Somebody else will want to buy it. Lessons learned for emily and james. Braver than me. I would not do business with you in the nicest possible way. Congratulations. Thank you, josh, very much. "For what it's worth", business wisdom from a pawnbroker. Terrific stuff.

This transcript has been automatically generated and may not be 100% accurate.

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