As Gas Prices Rise, Business Booms At Pawn Shops
(UNDATED) - As the cost of food and fuel increase, cash-strapped Hoosiers are selling personal items at pawn shops and other outlets to help fill the gas tank or make ends meet.
Eric Botts owns Joseph's Jewelry and Loan Company, the oldest pawn shop in Indianapolis. He says since the economy has softened, his business has increased thirty percent.
Bott says the most popular item people are pawning is gold. Some of the gold items he's seeing are family heirlooms that he says someone wouldn't have parted with a year ago.
Dave Humes is the owner of the "I Sold It On eBay" store on East 96th Street. At his store, he's noticed the number of failing businesses liquidating their inventory on eBay is growing faster than the number of people selling things on the web.
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