Pawn Shop Business Booms During Holidays
EL PASO- This holiday, your local pawn shop might just save you some time and save you a buck.
Frank Saul is the owner of Benny's Pawn Shop. His father started the business almost 70 years ago. "We have a lot of people at this particular time that are buying because we have a lot of good bargains on merchandise from jewelry to cameras to musical instruments. It's like a big discount store."
Saul says his biggest sellers are electronics and jewelry. And for people who are big spenders they have a nice collection of watches to sell. One Rolex watch in a jewelry store is around $9800. At Benny's that exact watch is selling for $5500.
Joseph Lebaron and his sister came from Chihuahua to find deals for their Christmas list. They were looking for an iPhone and iPod touch and found both in the store. Joseph said they've been coming for years to Benny's and they always find great buys. "Well, the iPhone is $400 at the AT&T store and I'm getting it for $150."
Just like a retail store, Benny's pawn shop does well during the holidays for selling merchandise, but also for buying from people as well. Customers can get instant cash or even a short term loan for the approximate worth of the item they bring to the shop. Every day, Benny's Pawn Shop does about 40-50 loans at each location.
Joseph Lebaron was happy with his purchases today and he and his sister headed back to Chihuahua.