x
Breaking News
More () »

Phoenix's Leading Local News: Weather, Traffic, Sports and more | Phoenix, Arizona | 12NEWS.com

Pawn shop business remains healthy during pandemic

"The economy is going to be substantially worse," Lara Goldfarb, owner of Glendale Pawn and Jewelry, said.

GLENDALE, Ariz. — It's no secret the Valley's local businesses are struggling. You may be surprised by one sector that isn't.

"Firearms was the biggest demand increase," Lara Goldfarb, owner of Glendale Pawn and Jewelry, said.

There was a mad rush to buy guns the moment the European travel ban went into effect, according to Lara. So much so that she sold out in a single weekend. Demand for other items also climbed. 

"We see an increase an items that people use while working from home,” Goldfarb said. “So we sold out immediately of laptops, gaming systems, and just video games that have been sitting around for a while. People are trying to keep the children entertained too."

There has been a debate over what businesses are considered "essential." Lara says her business is because it acts as a bank. 

People bring in something of value like jewelry in exchange for a 90-day loan. This helps her understand the direction of the local economy. 

"The economy is going to be substantially worse," she said. "I think this is the best of what it's going to be for quite some time...and I say that because I think the stimulus checks just gave a short-term flight to the economy."

Lara expects her business to remain healthy economically and physically. She is following social distancing guidelines, purell is available, and her employees wear masks.

Whether you are looking to pawn (loan) an item for some fast cash, sell an item outright, or purchase the perfect item at a substantial savings over the original retail price, you have found the perfect place!

RELATED: