It surprises you. Everyone has their cash flow issues," says Jim Tannahill, managing director of the luxury pawnbroker Suttons & Robertsons.
As social lives and holidaying have rebounded post-lockdown, so has business for upmarket pawn shops. The price of gold has jumped by a third since May 2019, with owners borrowing more against their trinkets. The cost of diamonds has risen 12% in the past two years and, while prices have dipped in recent months, vintage watches are still up by nearly 50% on two years ago, amid supply chain disruptions.
At the lower end of the market, with people often struggling to pay everyday bills, business has been brisk. In a trading update published last month, the mainstream chain H&T Group said lending secured against valuable items such as jewellery was at record levels.
This story is from the August 20, 2022 edition of The Guardian.
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This story is from the August 20, 2022 edition of The Guardian.
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