When it comes to pawn shops many of you may have an image of flashing neon, a store open all-night, guns and golf clubs. But look in the parking lot of of places like Wright Pawn and Jewelry on Westheimer. The cars tell a different story. BMW, Mercedes and Cadillac, and they belong to the customers.
"You'd be amazed at who's coming in here," says Owner Jack Wright. He's been in the business for 17 years and he's never seen it like this. Business is good and they are expanding.
"People sometime have assets, but they don't have cash," says Wright.
In the past few months he's seen many customers who need money now by selling or taking out a loan with their things as collateral. On one shelf, designer handbags from Chanel, Dior and Louis Vuitton.The bags are from a woman who told employees she lost money with accused embezzler Bernie Madoff. The LV bag retails for about $1,500- the woman got $500 for it.
Other things here include gold one man sold to make payroll for a business. A ring with nearly seven carats of diamonds. It got a local couple $20,000 to help with the mortgage. Then there was man from River Oaks who needed eye surgery.
"He came in with jewelry that belonged to his mother. He needed a loan to pay the deductible on his insurance," says Pamela Wright, store co-owner.
