How to Pawn Items

February 17, 2009 · Posted in Shopping, austerity, bad economy, common sense, making money, retail

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I live on the fringe of a major city, but I am also far enough that I can pickup a few local television stations. My area so far as been relatively insulated from the current recession. However, just east of me has not been so lucky. They have lost jobs at an alarming rate. Entire towns are closing down.

I sometimes choose to watch the local news from that area, because sometimes they cover the town that I live in. While I was watching the newscast last week, I thought to myself, what a different tone the news had taken in that area, within the past six months. Major stories on the last newscast included, where to get food, how to apply for financial assistance and announcements of more layoffs. It was truly sad to see.

I do not delude myself that people are really struggling right now but the real slap in the face came when the news did a story on how to pawn your valuables in order to keep your utilities on or feed your family. The story covered the basics of how to pawn items, and which items were bringing in the most money.

As I watched, the newscaster sifted through family heirlooms and wedding bands. It was heartbreaking to see people have to sell these things in order to survive. However, if I were faced with that situation, I too would sell my precious items to feed my loved ones.

Pawn shops are doing great right now in this economy. If you do end up in a situation where you must pawn your items, to stay afloat please make sure you understand the process. Pawn shops are not necessarily bad places, they are a business like any other.

How to Pawn

When you take an item to a pawn shop, you are essentially renting it with the option to buy it back from the shop owner. In some shops there is the option to come and buy the item back within a certain amount of time. Please be careful when you decide to do this, because in essence you are selling your valuables to another person. You will most likely never see that item again.

My mother learned this lesson all too well in the mid-1980′s after my youngest sister was born. Times were tight and she went and pawned her wedding band, to feed our growing family. She was left without any other choice. She sold the ring to a pawn shop, and she has looked for the ring ever since. She has never seen the ring again. I once asked her if she wish she would have not done that. She replied that of course she wish she still had the ring, but feeding her family was more important.

So, please keep in mind, that you may never be able to find the item that you pawn agin. Make sure that you can live with loosing it. Also do some homework as to the value of what you are pawning is. The most important thing to remember is that you do not have to sell it to the pawn shop once you are there. If you do not want to, then don’t.

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