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Fri, 04 Nov 2011 10:16:26 GMT | By Kerry Gold, MSN Money
Secrets of the pawn store world

If the pawnshop is a barometer, the economy is slightly improving



If the pawnshop is a barometer, the economy is slightly improving (© Courtesy Turner Broadcasting System)
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  • Don’t expect to get what you paid for it
  • Don’t stoop to lying
  • Don’t feel ashamed of doing business at a pawnshop (© Courtesy Turner Broadcasting System)
  • You have no idea how the other half lives
  • If the pawnshop is a barometer, the economy is slightly improving (© Courtesy Turner Broadcasting System)
  • Most pawnshop clients are women
  • Most people return for their pawned items (© Courtesy Turner Broadcasting System)
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In good times, the retail side of the pawnshop business goes up. In bad times, there are more customers who want to pawn stuff. It makes sense. In 2008, when the crisis hit, the line-ups for pawning items were long. Today, they are shorter, says Gold. "Things seem to be a bit better, people have more cash available right now. They are buying more, selling less."

* Video: Is the U.S. economy really on the upswing?

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