When you think of Christmas, you probably think of Christmas trees, carols, holly, crackers and nativity scenes. Pawn shops are probably unlikely to immediately spring to mind, but in fact, Christmas is one of their busiest times of year! Once people have bought presents, paid for works’ parties and bough all the ingredients needed for the Christmas dinner with all the trimmings, they undoubtedly find their wallets are left considerably lighter. Most people usually need a bit of extra money to tide them over through this expensive season, and securing a loan from a pawnbroker is seen as a quick and easy option for many. As well as taking out loans, pawn shops attract a lot of custom from shoppers looking for a bargain. People often decide not to claim back the items that they have pawned, meaning that the brokers are free to re-sell them. The shops can therefore be a brilliant place to track down luxury items at a fraction of the recommended retail price.
Due to the nature of pawn broking, the only items which pass hands are high value and good quality. Traditionally, the items found in pawn shops include jewellery, antiques and designer watches. People looking for extra money around Christmas may decide it is finally time to pawn their expensive but never worn Rolex, or the antique vase they acquired from a relative but which isn’t to their taste. These sorts of items make wonderful gifts for others and so are popular additions to a pawn shop over Christmas
For well-stocked pawnbrokers, London and other big cities are the best places to go hunting for bargains. Owners have commented on the increase in recent years of middle and upper-class customers who typically pawn high-end items including designer handbags and clothes. Interestingly, many modern shops have now also started to accept high-value electrical items such as smartphones, mp3 players and cameras â€“ things which are top of many people’s Christmas lists each year. Brokers are also starting to accept unusual items as loan collateral more regularly. Customers can even pawn a bottle of fine wine at the start of December, and claim it back in time for Christmas Day!
Pawn shops are quickly losing the stigma which was once attached to them, and times such as Christmas are the perfect opportunity to see what bargains can be found on your local high street.