In the late 15th century, Queen Isabella of Spain had to pawn her crown jewels to fund the Spanish Inquisition and to help fund Christopher Columbus’s journey to the new world.
Common Misconception: Pawnshops are not just for low income thieving addicts. Our customers span the entire spectrum of race, heritage and socioeconomic status.
Collateral Loan Customers (Pawn)
Most commonly, these individuals are hardworking contributors who are having financial trouble. This can be due to job loss or have an unexpected bill (like a large auto repair). The majority of these loans are repaid as soon as the individual receives his/her next paycheck. There are stories of individuals leaving our store in tears with appreciation for helping them out of a tough situation. That is service!
Often, people turn to credit cards in these unfortunate situations but many people find that a pawn is a safer alternative. That is, as there is no long term debt and no credit penalty for defaulting. Something to think about next time you are in a bind – we have all been there.
SHOCKING–It is not infrequent for high earners to use a pawn service when liquidity is tight and they have an investment opportunity. Again, a pawn is a fast and safe alternative for scraping together investment money. One reason for this is that defaulting a pawn does not affect credit. Another reason high earners use pawn, is that you do not even need credit to pawn. No one will hunt you down and break your legs if the loan can not be repaid.
Sales Customers
We see a little bit of everything! Bargain Hunters, Flippers, Wholesalers, Collectors, Specialists, Serial Browsers, Firearm Enthusiasts, Mr. and Mrs. Bling, Contractors, Athletes and of course, Average Joe and Average Jane.
The bottom line is that you will save a ton of money shopping in pawnshops. If it is not an item that you require buying new (I recommend buying diapers new), chances are we have it and you should save yourself some money.
YES WAY! You can also find brand new items in pawnshops. If you are married, or have children, we all know that some of those gifts are still in boxes in your garage. People just like you, sell them to us, and because of this, we always have brand new items available for sale.
Buy Customers (patrons selling items to the pawnshop)
You have all seen Pawn Stars on TV. Very similar but frequently less glamorous. This customer base is the combination of the last two groups. People sell us their items both in times of need or simply conducting some spring-cleaning.
Full Transparency – Are some of our customers thieving addicts?
Unfortunately, yes. However, I have learned that most of these individuals are great people. Often they got in an accident, were prescribed opiate meds, got hooked, lost control and ended up in a downward spiral. We all know someone who has become victim of this. At pawnshops, especially Jum-Pawn-It we seek to help and encourage these customers. Though, we as a business do not condone this behavior and we have implemented rigorous protocols to help the victims of theft and to prosecute the wrongdoers.
