Don’t expect to get what you paid for it
"Just because you paid $100 for an item doesn't mean it's worth that," says Gold. "You could probably pawn a $100 item for about $25."
"A lot of people get upset with us, but then they understand we are their last resort to get money. So they will come back and apologize," says Gold.
Jewelry, on the other hand, does appreciate, so there is less arguing. It turns out that for pawnshop dealers, it really is as good as gold. "We always pawn gold," he says. His American Jewelry and Loan store pawns about 90 per cent jewelry and 10 per cent hard stuff, which is everything else.
So, if you want to get your money's worth, pawn grandma's wedding band instead of that DVD player you've had kicking around for five years.
* Video: Paris' famous pawnshop
Mike Dever, of Brandywine Asset Management, discusses the differences between earnings growth and sentiment in the short- and long-term.
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