WASHINGTON – Pawn shops have gone mainstream, but it’s not just for the down and out anymore.
After an industry makeover, pawn shops are gaining notoriety. Reality TV has taken an interest with shows like the History Channel’s Pawn Stars. But now another chapter in the the story of pawning has started.
MSN reports that even the well-off are using online pawn shops since they don’t need money fast, but still want a large loan to help with cash flow. With these types of pawn shops, sellers don’t get paid as quickly as with a brick and mortar shops. But when an item is sent by mail, the money usually comes within 24 hours.
Pawngo, UltraPawn and iPawn are just a few of the online shops that buy and sell valuable items.
Typically, the online shop will review an offer and send the seller an offer on their item. In some cases, they can even print a free shipping label to help send the package.
To read more and see a video, visit MSN.com.
WTOP’s Veronica Robinson contributed to this report. Follow @VRobWTOP and @WTOP on Twitter.
