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Pawn business picks up
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| H&N photo by Andrew Mariman James Emery, the manager at Steve’s Place, said he’s seeing more customers pawning items for cash so they can afford simple necessities like gasoline. |
More customers are trading items to buy necessities
By MEGAN DOYLE
H&N Staff Writer
Sue returned last week to Steve’s Place, a pawnshop on East Main Street, to buy earrings she had pawned a few months ago to pay bills.
One pair was white gold with amethyst from the 1800s. Sue, who asked not to be identified by her last name, previously pawned her grandmother’s ring. She then worked with the shop to pay late fees so she could buy it back.
“They always treat me very nicely here, so I don’t lose anything,” she said.
She uses the money from the jewelry to get caught up on bills. She’s brought in earrings, necklaces, rings and guns.
“That’s pretty much all I have,” she said.
As Sue made her payment, other customers came into the shop with a digital camera and a rifle.
The pawn business has increased with rising gas prices and the economic downturn, said James Emery, Steve’s Place manager.
More customers are pawning DVDs, video games and CDs for small amounts so they can put a few bucks of gas in their vehicles, he said.
He’s also heard people say, “I never thought I’d be doing this,” as they hand over a family heirloom or piece of jewelry.
The slump in the housing market also has taken its toll. Contractors have been coming in with tools, said U&I Trading Post owner Josh Wesley.
“We’ve got a lot more tools and stuff coming in than going out,” he said.
Emery said there also are more people shopping for second-hand items than before.
Others are renewing their loans, with a charge.
Emery guesses that more people are realizing that the pawn business is one of the oldest loaning institutions, older than banks and is more reliable than what is portrayed in fictional television shows.
Pawnbrokers try to help people, Emery and Wesley said. Many of their customers are middle class people who need a bit of a leg up financially.
The brokers see some customers on a regular basis, and they know each other’s first names.
“It’s more of a relationship,” Wesley said.
One pair was white gold with amethyst from the 1800s. Sue, who asked not to be identified by her last name, previously pawned her grandmother’s ring. She then worked with the shop to pay late fees so she could buy it back.
“They always treat me very nicely here, so I don’t lose anything,” she said.
She uses the money from the jewelry to get caught up on bills. She’s brought in earrings, necklaces, rings and guns.
“That’s pretty much all I have,” she said.
As Sue made her payment, other customers came into the shop with a digital camera and a rifle.
The pawn business has increased with rising gas prices and the economic downturn, said James Emery, Steve’s Place manager.
More customers are pawning DVDs, video games and CDs for small amounts so they can put a few bucks of gas in their vehicles, he said.
He’s also heard people say, “I never thought I’d be doing this,” as they hand over a family heirloom or piece of jewelry.
The slump in the housing market also has taken its toll. Contractors have been coming in with tools, said U&I Trading Post owner Josh Wesley.
“We’ve got a lot more tools and stuff coming in than going out,” he said.
Emery said there also are more people shopping for second-hand items than before.
Others are renewing their loans, with a charge.
Emery guesses that more people are realizing that the pawn business is one of the oldest loaning institutions, older than banks and is more reliable than what is portrayed in fictional television shows.
Pawnbrokers try to help people, Emery and Wesley said. Many of their customers are middle class people who need a bit of a leg up financially.
The brokers see some customers on a regular basis, and they know each other’s first names.
“It’s more of a relationship,” Wesley said.
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