Pawning For Gas - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

05.21.07

Pawning For Gas

"When the gas comes up, it changes from selling to buying, a lot of buying," says Steve Wells of Town & Country Trader. "When the gas comes up, it changes from selling to buying, a lot of buying," says Steve Wells of Town & Country Trader.
"My jewelry, movies, tools my husband needs for work," says Connie Brown, who pawns some of her belongings for gas. "My jewelry, movies, tools my husband needs for work," says Connie Brown, who pawns some of her belongings for gas.
"With the rise of gas prices, this is going to trigger inflation which is going to cause a rise in everything and consumer spending is going to be less," says David Erwin of Erwin Pawn Inc. "With the rise of gas prices, this is going to trigger inflation which is going to cause a rise in everything and consumer spending is going to be less," says David Erwin of Erwin Pawn Inc.

Due to high gas prices, local pawn shops continue to see more people bringing in their belongings to sell.

It's a story we first told you about last year when prices began to rise and now, NewsChannel 10's Felicia Lafuente has found out some stores are at capacity with merchandise. Town & Country Traders is full of items to sell and they even have some of their merchandise outside. So to help sell it, they are having to look at some other options.  "When the gas comes up, it changes from selling to buying, a lot of buying," says Steve Wells of Town & Country Trader.

His store has a little bit of everything, from jewerly to coins, movies, and even irons. People are coming in to sell their belongings to get gas. "Stereos right out of their cars just to get over to the gas station," says Wells. "My jewerly, movies, tools my husband needs for work," says Connie Brown, who pawns some of her belongings for gas.

In fact, the owners say the minute customers step out these doors, they head across the street to fill up their tanks. "I actually see them drive over there and they tell me iIneed to get to work, I need to get home," says Wells. So now with all the merchandise coming in, they are turning to the internet and flea markets to make a profit. "Whatever I can do to liquidate what I buy here," says Wells.

And other stores say they could soon be in the same boat. "With the rise of gas prices, this is going to trigger inflation which is going to cause a rise in everything and consumer spending is going to be less," says David Erwin of Erwin Pawn Inc.

Store owners also say they expect to see more customers come in this week because of the upcoming holiday. 

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