A spike in gas prices followed by the deepening recession has led to all-time highs in pawn profits, the Chicago Tribune reports. Chief among the items sold? Video game consoles.
"We're seeing a lot of expensive video game systems, PlayStation 3s and X-Box and others, and a lot of LCDs (flat-screen televisions)," Ace Pawn Shop manager Chris Banul told the Associated Press.
Cash America, the biggest pawnbroking group in the country, pulled in more than $1 billion in revenues for the first time in its 25-year history last year.
Pawning things. That's got to be the worst. But if you had to, where in your list of pawnable items would your console hit?
Recessions boosts pawn shop business [Chicago Tribune]