Ch. 5: Ted’s Pawn Shop thriving in hard times

It’s a sad sign of the times. Yesterday, WLWT TV' s Ch. 5 highlighted Ted’s Pawn Shop on Forest Ave. in a report about how business is booming at area pawn shops because of the tough economy. The credit crunch and layoffs are driving first time customers from the middle and upper classes to pawn big=ticket items at Ted’s like collectible Gibson guitars, Rolex and Briteling watches, and even a 12 carat diamond ring with a $9,000 price tag. Small business owners are showing up to pawn items in order to meet payrolls. At substantial discount’s, Ted’s is selling big screen plasma TV’s and other luxury items pawned by people who can no longer afford the payments.

Another sign of the times: buyers don’t have to go Ted’s Pawn Shop to make purchases. Ted’s website directs visitors to view items for sale on eBay. Who knew?