Pawn Shops Thrive This Holiday Season - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Pawn Shops Thrive This Holiday Season

Guns and jewelry are the top sales at local pawn shops who say business is good this holiday season.

Business is steady for area pawn shops with people buying, selling, and taking out loans. With Christmas just around the corner people are tightening their belts and trying to stretch their dollar anyway they can.

David Erwin of Erwin's Pawn Inc. says an average of 150 people a day are coming in specifically for christmas related business.

Most are looking for quick cash by selling their unneeded items.  Erwin says, "Actually probably 40% are selling right now. And most of its actually for Christmas gifts. It's what everybody has in mind when they walk in the store."

Erwin says people are also bringing in more high dollar items to get a quick loan. So far, about 85 percent of those taking out loans are able to pay them off.

In addition to guns and jewelry Erwin says tools and electronics also top the list for both selling and buying. The after Christmas rush is also expected to be a busy time for Erwin. He says it is common for people to pawn gifts they received over the holiday to get cash back.

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