LoginGet started

Pawn Stars: 4 Times People Actually Pawned an Item | History

HISTORY・2 minutes read

A man pawns his motorcycle at a pawn shop for $15,000 to cover payroll in a struggling auto business, while another individual pawns an antique slot machine for $800. Additionally, a truck owner pawns his Volvo truck for $20,000 to manage family affairs, using the truck as collateral.

Insights

  • Pawning items for cash is a common practice for individuals facing financial struggles, allowing them to obtain quick loans with their possessions as collateral.
  • The pawn shop serves as a vital resource for individuals in need of immediate cash, providing a lifeline for those encountering financial difficulties due to various reasons, such as business downturns in specific industries like the auto sector.

Get key ideas from YouTube videos. It’s free

Recent questions

  • What is pawning?

    Pawning is the act of giving an item as collateral for cash, which must be repaid with interest.

Related videos

Summary

00:00

"Pawning for Cash: Business Struggles and Solutions"

  • Man pawns his motorcycle at a pawn shop to make payroll due to poor auto industry business.
  • Pawning involves giving an item as collateral for cash, to be repaid with interest.
  • The man aims to get $20,000 for his motorcycle but settles for $15, with a 120-day repayment period.
  • Another individual pawns an antique slot machine for $800 or $500 as a loan.
  • A truck owner pawns his high-end Volvo truck for $20,000 to handle family business, with the truck serving as collateral.
Channel avatarChannel avatarChannel avatarChannel avatarChannel avatar

Try it yourself — It’s free.