Never Too Posh To Pawn!

Aparently, upmarket pawnbrokers are seeing a massive increase in the number of wealthy individuals pawning jewellery and other valuables.

Diamond rings, watches and other jewellery items are popular choices, with even diamond engagement rings being temporarily pawned in the hope that they can be retrieved when finances are more free flowing.

The credit crunch is clearly affecting people at every level. For many, the current climate means making changes to the way they shop, buying cheaper food brands and looking at ways to pull in the purse strings on their day to day living expenditure. However, among the wealthier sets, it is the luxury items that are hit. It may be that they can't quite find the deposit for that holiday villa, or they're struggling to pay the private school fees. And with banks more reluctant to offer credit, the pawnshop is becoming the best place to secure credit, and with no form filling and waiting around for bank approval.