Published December 21, 2009 08:17 pm - ANDERSON, Ind. — Shoppers hoping to avoid long lines and high prices have found a new place to get Christmas shopping done — the neighborhood pawn shop.
Weak economy spawns pawn shop rush
Shoppers get deals, sellers get quick holiday cash
By Brandi Watters, Herald Bulletin Staff Writer
ANDERSON, Ind. — Shoppers hoping to avoid long lines and high prices have found a new place to get Christmas shopping done — the neighborhood pawn shop.
Steve and Jerry Rubenstein, owners of Allan’s Jewelry and Loan, say they’ve seen an increase in both holiday shoppers and those hoping to get extra holiday cash by selling their belongings at the Anderson shop.
“I’ve never seen this many people,” Steve Rubenstein said.
Holiday shoppers cashing in on buying used are getting great deals at area pawn shops, he said.
“Lets put it this way, most of the kids, mom and dad will buy them a video game that costs them $60. Kids are intelligent. They’ll beat a game like that in a day or two.”
Instead, he said, parents are opting for used video games at his store. “They can get them for $9.95 to $20.”
Troy Norris and his son, 13-year-old Colin, a cost-cutting family, entered Allan’s on Monday in hopes of finding Christmas bargains.
Wanting an Xbox for Christmas, Colin didn’t mind settling for a used model.
“I’ve just been wanting one for Christmas,” Colin said, pointing out the $79 game system to his father.
Troy Norris admitted his family will be spending less on Christmas this year.
“We’ll be cutting back a little bit and we’ll end up playing catch-up.”
Though he was in the market to buy Monday, Norris said he’s used the shop to get extra cash before. “I have brought in old jewelry to get money.”
The economy has brought many more like him into the store, Jerry Rubenstein said.
“I’ve been seeing more people needing loans this year,” he said.
Using their belongings as collateral, many are getting loans with the intention of retrieving the item later, he said.