CBS 17: Post-holiday season brings spike to Pawn Shops

The holiday season coupled with the beginning of a new year means lots of giving and receiving gifts. That also means pawn shops see a spike in business as they become the perfect place to buy gifts or even get rid of them after the New Year.

“I used to call it the bargain shopper’s paradise,” said Bob Moulton, the President of National Pawn in Raleigh.

And that’s what it is — a shop where you can find anything from TVs to musical instruments or even engagement rings.

“That’s really where our deals are, the jewelry, our jewelry is probably 20%, 25% of the jewelry store [prices], so a $1,000 ring at the jewelry store would probably be about $250, $300 here,” Moulton said.

National Pawn is a hotspot for holiday shoppers even into the new year.

“We’ve always kind of seen that, people turning old things to cash and reusing it, or regifting things they have as well,” Moulton said.