Homepage / Money

Pawn Shops Report Spike In Business

Shop Owner: Shelves Stocked With Cameras, Jewelry, Tools

POSTED: 3:01 pm EDT March 11, 2009
UPDATED: 8:44 pm EDT March 11, 2009

Pawn shops have reported that in these tough economic times, residents are selling everything from digital cameras to jewelry to make a quick buck.

Devon Wright, of South Windsor said times are tight, so while she pounds the pavement, her favorite pastimes will have to wait because she is selling what she can to a pawn shop.

"I have a digital camera and a bunch of CDs," she said.

Jay Sargent, of TC's Pawn Co., said even he is surprised by the spike in business.

"People that you wouldn't expect at a pawn shop getting money, they're at our door now," he said. "We do see an increase over the last four to six months, even since last summer when gas prices were really rising."

He said business is booming, and that people are even turning in Rolex watches and GPS units.

"We hear a lot about people getting laid off, losing jobs, worried about their mortgages," Sargent said. "Heating in the winter is very difficult for a lot of people."

Sargent said the shelves are stocked with everything from instruments to tools to golf clubs.

"People are giving up things they enjoy for necessities right now," he said.

But on the other side are people like the Rev. Ramon Cruz, who said he buys second-hand equipment for his church.

"I come here because I find good deals," he said.

Links We Like

Sponsored Content
Find out what a sputtering economy and an increasingly difficult to crack job market means to you. More

If your credit is shabby, you'll need to shore up your score to convince a lender you're worthy. Here's how to boost your point total. More

Acupuncture, massage, or other complementary therapies could manage your type-2 diabetes. Find out whether they can help you. More

You’ve heard of certain foods that can help you prevent cancer and even halt the spread of the disease. Find out if these anti-cancer foods really work. More

Credit Report

560? 675? 720? The average US Credit Score is 692. What is your score? See it online for FREE! More

Best Local Rates On...



LocalNational

30 Yr Fixed Mortgage4.96%5.02%

48 Mo New Car Loan6.40%6.79%

$30k Home Eq Loan6.89%8.33%

6 Month CD1.08%1.13%
Help! I don't understand!
More Rates


Sponsored Links

Stock Quotes

Get a Quote
Enter Symbol

Shop Your Insurance

SAVE up to 30% on Insurance
Paying too much for insurance? Get quotes from multiple companies and choose the best plan for you. Start saving now!

Insurance Type:


Zip Code:

Gas Prices

Gas prices
Keep tabs on the latest news, and calculate the cost of a trip in our special section. More


E-Mail News Alerts
Get breaking news and daily headlines.
Browse all e-mail newsletters