LAS VEGAS (KLAS) — With rising costs, people are having a tougher time making ends meet. Some have turned to pawning items or even selling them for some quick money.
At the Waikiki Gold and Silver in downtown Las Vegas, there was a steady clientele Sunday evening. The manager said higher ticket items have been coming through their door.
Zachary Lyford stopped by the shop to make a sale. He said he has to sell his class ring because he needs money before the end of the month.
“With inflation rising, it’s a terrible time that we are in right now and people are having to reflect and decide where they need to go forward and what they need to do,” Lyford said. “Unfortunately giving up a prized possession is kind of where I’m at right now.”
Waikiki Gold and Silver is not a pawn shop but a buy shop. It doesn’t don’t offer loans or pawns. You sell your item and they pay for it and own it.
No longer is it customers who come in to make a little extra money for a special purchase, instead, the shop manager said he is seeing people struggling to afford the necessities.
“It’s people that need money for sure,” said William Downs, manager, Waikiki Gold and Silver. “People that are trying to pay their rent or cover their cellphone bill or car payment.”
He said ever since the pandemic hit they have seen an increase in people coming in and the items for sell are becoming grander in scale.
“More expensive items would come through the door as opposed to $50 to $100 items, we would start seeing $1,000 to $3,000 items,” Downs said.
And for those like Day’quan Alston who is selling his X-box to help his family out financially, he acknowledges that times are tough, so for now this is his best option.
“It’s not the main item that I use every day and I can take time off of it so if it’s going to help somebody or benefit them in my house, then I’d do it,” he said.
If you’re wondering how much the average customer gets, it all depends on the item but generally ranges from $50 to a few hundred dollars.