Seattle Pawn Shop sees Increase in Both Sales and Cash Loans in Recent Months

December 18th, 2009 | Posted in Articles, Society, money

Due to the recent economic downturn, a Tucson pawn shop is seeing an increase in business in both the over-the-counter sales in which people that cannot pay retail for new merchandise and those people seeking loans of fast cash for their treasured items to pay unexpected bills.

For the past several years most pawn shop customers are regulars, those underemployed or unemployed who need to make a quick buck for one reason or another.  But since the economy has turned south, more and more blue-collar and white-collar workers, some who have lost their jobs or others who are barely making ends meet, are turning to their local Seattle pawn shop in order to trade something of value for cash.

There has been a large increase in construction grade tools such as electric drills, power saws and other handheld or table size equipment builders used that is no longer needed since the fall of the housing market.

Another increased article of trade found at local pawn shops would be electronic equipment like video gaming equipment, computers and laptops and digital cameras and video recorders.  Other items often found on the floors and shelves of a pawn shop including bicycles and sporting goods, hand guns and high tech exercise equipment. 

Pawn shops have gotten a bad reputation due in part to poor public relations and the way they are portrayed on television: as places where burglars take their stolen loot in order to quickly receive cash for ‘hot’ merchandise.

Today, the pawn shops have safeguards in place in order to protect themselves and the public from stolen merchandise.  When a customer brings in a piece of valuable jewelry or large screen television, the owner of the pawn shop makes sure to request a photo ID and in some states a thumb print is required.  This information is then forwarded to the local law enforcement agency to be monitored for stolen items.

All of the merchandise featured in local area pawn shops are featured at deeply discounted prices from new products because they are generally in ‘gently used’ condition and in need of a new home.  Today, scores of people scour their local pawn shops in order to find the best deal on thousands of items for gifts for friends, co-workers and family members or to use in their own homes.