Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Happy New Year from Mid South Pawn!

December 31st, 2011. Filed Under: Uncategorized. Tags: ,

Happy New Year from Mid South Pawn!

I just wanted to take a moment to wish you Happy New Year and
let you know about something special in our business this year.

Mid South Pawn is turning 20 years old this year! The time has flown
by. Its hard to believe, but its true, I was there when it all started.

Mid South Pawn has been serving Harriman and the surrounding
area with quick, confidential cash loans, buying gold and silver,
and selling stuff cheap since 1992.

We couldn’t have done it without you, our loyal customers, and I
want to say thank you for being a loyal customer and doing business
with us.

If you haven’t done business with us yet, give us a chance to show
you why we have been here for 20 years. Its because we treat you
right and pay you right for your valuables, and have great deals on
great stuff.

In the coming months, we will be doing some special promotions,
drawings, and events to celebrate our 20th anniversary.

Stay tuned for more details, and stay in touch if we can help you
out with some cash this year!

Like us on facebook and give us your email for updates, I will keep
you informed and let you know when the party is!

Its going to be a great year!

Wishing you a blessed and prosperous New Year!

Brian

Leave A Comment

Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Need cash? Pawn shops edge into the mainstream

December 29th, 2011. Filed Under: Uncategorized. Tags: , , ,

Need cash? Pawn shops edge into the mainstream

By CANDICE CHOI, AP Personal Finance Writer – Nov 23, 2011

NEW YORK (AP) — Pawn shops are beckoning from the shadows.
At a time when banks have shut their doors on those with bad credit, a growing number of borrowers are pawning their jewelry, electronics and other valuables to make ends meet.
Consumer advocates say the development is concerning because the interest rates on loans from pawn shops can be as high as 20 percent a month. But pawn shop operators say they provide a critical lifeline to a group with few other options.
“It’s a short-term loan — it’s designed to bail someone out and be done with it,” said Ed Bean, who owns Suffolk Jewelry & Pawnbrokers in Boston.
A common misconception is that pawn shops simply buy the various knickknacks that customers bring in. But the more lucrative aspect of the industry is issuing loans against those belongings. Customers often prefer borrowing over selling as well because it lets them hold onto what may be their only tickets to cash in the future.
What’s key about loans from pawn shops is the lack of judgment; a credit check isn’t required and they don’t have an impact on credit scores. The transaction takes just a few minutes in many cases.
A pawn shop owner simply eyeballs the merchandise a customer brings in and offers a loan amount on the spot. If the customer repays the loan within 30 days, the belongings can be reclaimed. The customer can also opt to extend the loan; many borrow against the same items over and over.
If a customer fails to repay the loan, the shop can put the collateral up for sale.
The National Pawnbrokers Association says its members are reporting record growth as a result of persistently high unemployment, coupled with soaring gold and metal prices. The group says the popularity of the shows “Hardcore Pawn” on truTV and “Pawn Stars” on the History Channel are opening up the industry to a broader customer base as well.
Although the vast majority pawn shops are independently owned, the latest quarterly profits at the three publicly traded pawn store operators reflect the growth the industry is enjoying. Cash America International Inc., Ezcorp Inc. and First Cash Financial Services Inc. each reported net incomes that were up at least 25 percent from a year ago, helped by rising demand for loans.
“The opportunities for short-term cash have dried up,” said Eric Fosse, who heads North American operations for Ezcorp, based in Austin, Texas. “Banks have basically abandoned our customer base and their neighborhoods.”
Since the start of the downturn, banks and credit card companies have moved to reduce risk and maximize profits by stepping up their courtship of big spenders with sparkling credit. According to the latest data from credit reporting agency TransUnion, the bulk of credit card offers are still going to those with a credit score of at least 700.
Such economic conditions are pushing more borrowers into the position where their only options are loans from pawn shops, Fosse said.
The average amount of a pawn loan has nearly doubled to $150 since the downturn began. That’s partly because a spike in precious metal prices means gold jewelry is fetching higher prices. But it also speaks to the changing customer base, said Emmett Murphy, a spokesman for the National Pawnbrokers Association, based in Keller, Texas.
That shift toward the mainstream is also the spin behind Pawngo.com, which launched this summer with funding from the founders of Groupon. The site is targeting a more middle-class customer base and has made about $3 million in loans since June. Founder Todd Hillis says the average loan amount is $2,000.
Rather than haggling at the counter of a pawn shop, the site’s customers fill out an online form describing the items they want to pawn (including a picture is optional) and receive an email offer for a loan amount. If they accept, they print a FedEx shipping label and overnight mail the items free of charge. Once the items are received and validated, the loan amount is deposited into the customer’s bank account.
Reflecting the economy’s impact even on upper-income customers, Hillis said customers are mailing in luxury jewelry collections and Louis Vuitton purses.
“It’s not your typical brick and mortar pawn shop where they’re taking in home electronics and video game systems,” he said.
The interest rates are also on the lower end of the industry at between 3 to 6 percent a month. But the costs still add up. Pawngo loans come in three-month installments, so on a $2,000 loan, customers would pay back $2,360 after three months.
The interest rates pawn shops can charge vary widely depending on the state. In New York City, where the industry trades primarily on jewelry and loans tend to be larger, the cap is 4 percent a month. In the South, where loans tend to be smaller with many customers bringing in items such as power tools or lawn mowers, caps can be as high as 20 percent. Fees for storage could also apply in some regions.
Such costs are why pawn shops should be considered a last resort, according to Jean Anne Fox, director of financial services at Consumer Federation of America in Washington, D.C.
Loans from pawn shops can also hook users into a cycle of debt because those living on tight means are prone to extending loans if their financial situations don’t improve. The risk is not as high as with other types of loans, however, since pawn loans tend to be smaller and are easier to repay, she said.
Loans from pawn shops are also more merciful because they don’t trigger a sequence of financial repercussions, Fox notes.
“It’s a form of high-cost credit,” she said. “But if you don’t repay the loan, you surrender the item and the transaction is over.”
Even though going to a pawn shop may seem expensive to those with good credit, Bean of Suffolk Jewelry & Pawnbrokers in Boston also notes it’s a way for many to keep the lights on at home.
“It’s still the business that it is, and it can’t be picture perfect,” Bean said. “We’re not a genteel jewelry shop. But people can come in and expect that it will be efficient and we will be polite.”
Candice Choi can be reached at www.twitter.com/candicechoi .
Copyright © 2011 The Associated Press. All rights reserved.

Leave A Comment

Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Santa got your order wrong? We can turn it into cash!

December 26th, 2011. Filed Under: Uncategorized. Tags:

Santa got your order wrong? We can turn it into cash!

I would like to take a moment and say I hope you had a Merry
Christmas, and wish you a happy new year!

If santa claus didn’t get the message, and you got something you
didn’t want, and can’t return, check with us, we may be able to turn
it into cash!

We buy lots of stuff, maybe you prefer cash to that gift you got at
your Christmas party. Give us a call or just come on down.

I hope you got what you wanted, but if not, get what you do want, Cash.
We are always buying gold and loaning cash.

Don’t forget to enter our monthly drawing for $50 cash. Like us on facebook,
go to midsouthpawn.com and give us your name and email, or enter while
you are in the store. Drawing is held on the first of every month!

Have a friend who might be able to use some cash? Forward this to them!

Thanks and Happy new year from Mid South Pawn
Harriman’s Pawn shop and gold buyer!

Leave A Comment

Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

‘Tis the Season for Pawn Shops

December 22nd, 2011. Filed Under: Uncategorized. Tags: , , ,

‘Tis the Season for Pawn Shops

from www.8newsnow.com

LAS VEGAS – This is the season for bargain shopping. Retailers offered deals on Black Friday and Cyber Monday but pawn shops actually offer deals throughout the holiday season.

Fans of pawn store shopping say they can get designer items for a great price. One shopper buying designer boots for his wife says she may not even know where he got them.

“She may not know. I think when a girl opens a Louis Vuitton box or a Gucci box, they are happy,” shopper Jesse Fonseca said.

Pawn shop owners say shows like Pawn Stars and Pawn Kings has helped eliminate the stigma of the typical pawn shop.

“Pawn shops are sexy. So, they have wet the palate for people who may not necessarily go in to a pawn shop before,” Max Pawn owner Michael Mack said.

He also says buying something that is pre-owned doesn’t mean it has lost any of the luster.

“We call them “pre-loved”. Pre-loved refers to handbags by Chanel, Hermes, and Gucci. You can buy it a fraction of retail but it still comes with the box,” Mack said.

For shoppers, it is about buying high-end gifts at low-end prices.

“For me, it is like the difference between buying a brand new Mercedes-Benz, driving it off the lot and someone who buys it from someone who drove it off the lot,” shopper Mitch Weinstein said.

Mack does advise that people ask questions about an item before they buy it. He also says people should know the store’s return policy and about any warranties.

Leave A Comment

Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Many Choosing Pawn Shops Over Banks For Loans

December 19th, 2011. Filed Under: Uncategorized. Tags: , , ,

Many Choosing Pawn Shops Over Banks For Loans

from myfoxaustin.com

Many people who are strapped for cash and are unable to receive a loan from a bank are turning to pawn shops.
The National Pawnbroker Association reports pawn shops are seeing a record number of people pouring into their stores.
The high unemployment rate and ailing economy are most of the reasons for the uptick.
Unlike the bank, customers with less than prefect credit can bring their valuables in and get a small loan without a credit check.
“You don’t have to have a great credit score to come here,” said Sanchez. “They can get a loan on something of value and then pick it up with a small interest fee. Pick it up one week and then do it again next month.”
That is the reason Gerald Parado prefers dealing with pawn shops instead of banks.
“They are just becoming more mainstream because places like this they keep everything nice, the people are nice. It’s not like shady anymore,” said Parado.
Kevin Zeldon, who needed fast cash, said the pawn shops are easier to deal with.
“Here you can negotiate prices they are easy with people you can talk to them better than a bank,” said Zeldon.
The growing number of people heading out to pawn shops has the Better Business Bureau concerned. Erin Dufner with the Better Business Bureau says pawn shops should be a last resort for a loan.
“Really a pawn shop can be a way to get a really quick loan for folks that may have little or no credit but at the end of the day consumers may be paying an upwards of over 200-percent APR and it can be at the end of the day a very expensive loan,” said Dufner.
Another thing Dufner said to keep in mind is to make sure the business is licensed by the Office of Consumer Credit Commissioner and to make sure the agreement is in writing.

Read more: http://www.myfoxaustin.com/dpp/video/Many-Choosing-Pawn-Shops-Over-Banks-For-Loans20111128-ktbcw#ixzz1gTXfRf1T

Leave A Comment

Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Gold price takes plunge, Lock in gains, sell now!

December 16th, 2011. Filed Under: Uncategorized. Tags:

Gold price takes plunge, Lock in gains, sell now.

You may have seen the news, over the last few days, gold prices have
taken a massive drop. What does this mean to you?

It means now is a great time to sell gold while the price is still up.

Just a few months ago, gold was at all time high prices, it has lost $200
per oz from the recent price peak. I can’t predict the next move, but I
can tell you that now is a great time to sell.

If you have any gold you purchased even 2-3 years ago, it is still worth
way more than you paid for it. This means now is a great time to sell
and lock in your profit.

No one knows what it will do next, but the trend is heading down. You
could hang in there and risk loosing more, but you might want to
think about locking in your profit and selling now.

We are always buying your gold and silver coins, jewelry, and about
anything made of gold or silver. We give free evaluation and quotes on
anything you want to get rid of.

Mid South Pawn has been buying gold and loaning cash to Harriman
and all around since 1992 because we treat you right!

Come see us today and lock in your record profit on old, unwanted or
broken gold today!

Selling gold is a great way to get some extra cash for some
last minute shopping!

If we buy your gold, you get a 10% discount on any purchase you make
with us. We have a large selection of gold and diamond jewelry!

Have a friend who might be interested in this, forward it to them, if
they sell us gold and mention your name, you get $5.00 extra on
your next loan, 10% off your next purchase, or 10 day free extension
on your loan.

They have to mention your name though, so tell your friends, come sell
gold at Mid South Pawn!

Give us a call 865-882-7188, or just come on down today!

Thanks and Merry Christmas!

Leave A Comment

Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Let us help you with your Christmas shopping!

December 15th, 2011. Filed Under: Uncategorized. Tags: ,

Hi again from Mid South Pawn

If you haven’t started your Christmas shopping yet, don’t worry, theres still time to get a great deal at Harriman Tn’s Pawn shop, Mid South Pawn. We have it all, Video games, flat screen tv’s, from gold and diamond jewelry to guns, guitars and strings, and lots more Christmas things!

If you have shopped till you dropped and need to reload with some Christmas cash, we can help with that too, Come on down and bring us your gold jewelry, even if it’s old and broken, we can buy it or loan you cash on it, you can get it back. We buy and loan cash on lots of different things. We loan cash, you get back to shopping, eating, living, paying bills, whatever you may need cash for, consider us for your needs.

We look forward to serving you with great deals on Christmas gifts, and fast cash when you need it!

Merry Christmas from Mid South Pawn,
Harriman TNs Pawn shop and gold buyer.

Leave A Comment

Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Pawn shops buy gold for Black Friday

December 12th, 2011. Filed Under: Uncategorized. Tags: , , ,

Albany, Ga. –
Pawn shops call themselves the poor man’s bank, but it’s not just poor people. Rich, poor, all kinds of folks are pawning items for holiday cash, but store owners say selling gold is what they see the most.

This is just some of the gold that has been sold to Dawson Road Jewelry and Pawn this week, and the people selling it say they have the holiday spirit in mind. Dawson Road Jewelry and Pawn owner Jason Sheffield said, “Just wanting to get extra money. Whether it be for shopping or whether it be getting extra money for the actual Thanksgiving Dinner, or Black Friday shopping.”

Sheffield says people are selling gold steadily, because the price is so high. But this week folks tell them they will use the cash to pay for holiday celebrating and shopping. “Gold is going for way more than they paid for it. They might have paid $200 to $300 for it, and now they are getting one thousand out of that same coin,” Sheffield said.

Not only gold jewelry and coins. Sheffield says people this week have been pawning musical instruments, game systems and games, computers, and TV’s, just about anything of value for cash. But gold is by far the thing they are seeing the most.

“It’s the quickest and easiest way to get money. You are not going to get what you paid for it, but getting quickest access to cash, this is the best way to do it.” Sheffield says these kind of pawns and sales are good for him stocking up their store, getting ready for the busy holiday shopping season ahead.

Sheffield said that sales from their pawn shops have been slow in recent months, but said he is sure that will be picking up soon, as people start looking for bargains for Christmas shopping.

The National Retail Federation expects more than 152 million Americans to visit stores Friday for the start of the holiday retail season, an increase from last year’s Black Friday.

Copyright 2011 WALB. All rights reserved.

Leave A Comment

Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Christmas specials at Mid South Pawn!

December 10th, 2011. Filed Under: Uncategorized. Tags: , ,

Just wanted to let everyone know about some of the great deals and specials we have for Christmas.
We have a large selection of gold and diamond jewelry, at great prices, gold rings starting at $39.99!

We also have a large selection of men’s and ladies watches, they make great gifts, and are priced right,
from $24.99. We have guns, guitars, tools, video games, and lots more! PS3 and Xbox 360 systems starting at $159.99
Nintendo Wii $89.99, Nintendo DS $69.99. We also have the games for them, starting at $8.00!

Come on down to Harriman Tn’s Pawn shop and gold buyer, Mid South Pawn. We have been loaning you cash and buying your gold and silver since 1992!

Make your Christmas shopping cash go farther with our great deals. If you run out, and need to reload for more shopping,
we can help with that too. Bring us your gold and other valuables to get a quick cash loan and get back to shopping, living,
eating, whatever you need cash for, ours works for it all.

Don’t forget about the real reason for Christmas in all the commotion. In this economy, needs are up and contributions to churches
and charities are down while demand for services is at all time highs. If you can, give something back, God gave us the greatest Christmas present when He sent his son, Don’t forget to say thanks to God and give a gift of support to your favorite church or charity. It is the gift that keeps on giving.

Have a great day and come see us before all the deals are gone!

Leave A Comment

Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Holidays at the Pawn Shop

December 6th, 2011. Filed Under: Uncategorized. Tags: , , ,

Holidays at the Pawn Shop

From WSJ Dot Com

Holidays at the Pawn Shop
By Anne Kadet

New Yorkers have amazing options for holiday shopping. We’ve got charmingly overpriced neighborhood boutiques, designer shops on Madison, endless tchotchke bazaars crowding the parks and big, dumb chain stores lining Fifth Avenue. But those are the obvious options. What about the pawn shops?

They’re everywhere. This city now boasts 390 pawnbrokers—double the pre-recession count. And if you want amazing deals on gifts for the whole family, nothing says “I care” more than wrapping up some stranger’s broken dream and sticking it under the tree.

Aside from the bulletproof pawn windows, Gem Pawnbrokers on Eighth Avenue looks like any mainstream jewelry store—one that also happens to sell used saxophones and $3 DVDs. On a recent afternoon, the bustling shop was decorated with oversize nutcrackers, Santa figurines and plastic wreaths. Kenneth Conn, an executive with the 30-branch Gem chain who had stopped in for a visit, pricked up his ears: “There’s supposed to be holiday music. Ligia!”

Ligia Kourany, the good-humored jewelry manager, cranked up the Bruce Springsteen. “Somebody kicked the plug,” she explained.

Inside Gem Pawnbrokers, sales associate Anthony Lopez, below right, helps Spencer L. Farrow as he browses after trading in an item. The atmosphere was merry. Shoppers crowded the cases gawking at cocktail rings (arranged by price), gold watches and used cameras. Tony Williams, a warehouse manager who had stopped in to do some holiday shopping, showed off the diamond-crusted ring he bought at the shop more than a decade ago. Like many regular customers, he was also a loan client: “You know how many times I’ve paid my rent with this ring?”

Roughly 90% of valuables pawned are redeemed by the owner. The rest hit the display case. Like a bank with a mess of foreclosure properties, the pawnbroker wants to sell the goods ASAP so he can loan the money out again. And that’s not the only reason for low prices at the pawnshop. Pawnbrokers don’t “pay” much for the merchandise to begin with: They’ll typically lend less than $400 on an item worth $1,000.

At Gem, the prices seem high, but the tag price is just the starting point—you’re supposed to haggle. Mr. Conn pulled a $6,149 gold chain from the counter display and asked Ms. Kourany for the rock-bottom figure. She whipped out a calculator and did a little math based on the day’s spot price for gold. “About $3,000, I give it to you!” she said.

And $3,000 was, indeed, a good deal—$43 a gram, compared to $47 a gram for similar chains selling at fly-by-night Internet shops, $66 on Amazon and $80 at Sears. Steve Krupnik, a pawn shop consultant (yes, this is an actual profession), says pawnbroker prices are typically 40 to 60% below retail. Diamond District pawnshops tend to have the most “accurate” prices on jewelry; shops in other boroughs are more likely to offer crazy bargains alongside outrageously overpriced merchandise.

In December, pawn shops are especially eager to deal. They’ve been stockpiling jewelry all year for the holiday rush; come January, they’ll melt the leftovers for scrap. At S&G Gross, the 110-year-old shop just down the street from Gem, owner Gary Gross lifted a $400 gold chain and shook his head. “This bracelet is horrendous. I don’t even know why it’s here. It’s going to get melted for $300.” He’s less willing negotiate on a $150 silver pendant bracelet from Tiffany—the brand name adds value. But his final offer, $140, is still a steep discount from the $350 price on Tiffany.com.

Of course, when buying gifts from a pawn shop, one runs into the problem of presentation. At least one pawnbroker in the city has customers taking home merchandise in black trash bags; this will not impress your wife. But there are work-arounds. At Gem, for instance, folks buying a used Rolex can spend an extra $100 and get a green presentation box that looks a lot like a real Rolex watch box.

Pawn shop aficionados also praise the wide selection. It’s not as good as you’d find in, say, Texas, where pawn brokers sell used washing machines and guns. High rents limit local pawn shops to dealing in small, high-value items like jewelry and electronics. But you’ll find one-of-a-kind items, and a selection that ranges from Walmart charms (for good old Aunt Ruth) to Cartier diamonds (for your own fine self—Mr. Conn says some of his best customers are ladies who come in to buy themselves big, fancy rings).

And pawnbrokers who own their own property can offer a broader selection. At the Bronx branch of NY Pawnbrokers, owner Blaine Messinger deals in wares ranging from bicycles to a $3,500 fur coat of indeterminate species. (“It’s a great coat,” he advised. “It’s got the hood and everything.”)

At first glance, his shop looks empty. Then one realizes that the linoleum-tiled public area is ringed on three sides with floor-to-ceiling security glass shielding a riot of used merchandise: radios, earrings, videos, circular saws, keyboards, televisions, trumpets, DJ equipment, cellphones, iPads and the world’s largest selection of crucifix pendants. Mr. Messinger, a fast-talking gentleman who greeted a reporter with “Hey! Wall Street!” summed up the display with a simple phrase: “It’s eBay, in person.”

Unlike eBay, the pawn shop lets you test the wares, but few were buying. Aside from the man experimenting with the power drill selection, most customers were lined up at the windows to pawn their valuables; one mom was hoping to get a few bucks for her son’s video games. But there were plenty of deals for bargain hunters. Posted prices on used iPhones, cameras and power tools were comparable to those on eBay, and deals, of course, are negotiable. A vintage Schwinn that would run at least $400 in hipster Brooklyn, meanwhile, was selling for $179.

The clincher: If you have trouble paying your bills come January, most pawn brokers shops will happily accept your item back at the pawn window—and lend you precisely half of what you paid. Just try that at Saks.

—Ms. Kadet, who writes the “Tough Customer” column for SmartMoney magazine, can be reached at anne.kadet@dowjones.com

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