Everything for Sale

As we’re talking, I casually look around and see what looks like an old war helmet. I ask to see it and the gentleman behind the counter starts talking. It is a World War II German military helmet, he says. From the heft of the metal and crusty leather interior it’s hard to disagree with the age of the helmet and the Nazi swastika proves his claim. I am holding something close to 70 years old, bearing the symbol of Adolph Hitler. I can’t help but put it on. He explains that he paid $10 for the Luftschutz helmet I am wearing while on eBay a similar helmet recently sold for $395. History and a potential profit margin of 3,850 percent hook me on the pawn business as I stand in the back of Central Avenue Jewelry & Pawn.

The pawn business is the second-oldest profession known to man, dating back 3,000 years to China. The practice started in Asia but is rich in European and eventually American history – it’s well known that Queen Isabella of Spain pawned her jewelry to fund Christopher Columbus’ expedition to find a more direct route to the Indies.

A half-mile up Central toward uptown, Will’s Park and Pawn wears its history on its walls, which include a faux rhino’s head, a collection of 1950s model airplanes, an old Elvis exit sign, and a collection of guns and knives that could arm a province in Afghanistan. In business since 1985, Will’s place isn’t about looks, or air conditioning; it’s really about the owner Will Spoke and taking what can be a difficult financial situation and making it at worst manageable and at best feeling like you just made a friend for life. A friend who also happened to loan you $40 on a slightly used Suzuki acoustic guitar.

Spoke’s business includes a set of supporting characters who beautifully round out his shop. Including, in no particular order: his son Will Jr. who, after going to Appalachian State for a short period, decided it wasn’t for him and happily joined the family business; Spoke’s mother, who softens the all-male crew with her charm; Mikey, who when he’s not eating fixes jewelry in the middle of the shop; and Broadway, a true Southern gentleman with a wavy gray pompadour who watches the door. Broadway always has a toothpick in his mouth and started in the pawn business seemingly at random after managing a Sears’ car service center at SouthPark.

Talking to Spoke made me feel like I was listening to a NASCAR driver talk shop while simultaneously driving his car at 200 mph. He didn’t take a breath between explaining the pawn business to me, buying a black leather Harley Davidson jacket from a customer, whispering that he really just wanted it for himself, and then getting an additional $5 from the customer for getting Mikey to fix his watch. By the time this customer left the shop he was smiling, fist bumping Spoke, and promising to come back if he ever needed some quick cash again.

Both pawnshops I visited were quick to explain that they abide by all the rules and regulations set forth by the city, county and state. They provide regular reports to the Charlotte police and help to track down stolen property. As a rule, this was the first thing that I was told. Second was that all items purchased must be held for seven days after the purchase date, and all things pawned must be held for 90 days after they are foreclosed upon. The third was typically that they were making a killing on lending money.

In the state of North Carolina, pawnbrokers are legally allowed to charge 2 percent interest per month on all money lent. However, on top of this interest rate they are allowed to charge fees for handling, appraisal, storage and insurance not to exceed 20 percent per MONTH. So with fees included it is within the law to charge an annual interest rate of 264 percent.

But those in the industry would counter any shock and awe from that number with the following two points. The first being that banks legally charge upwards of $25 for insufficient funds plus any fees levied by the store where you passed your bounced check. For checks under $25 the DAILY interest rate could exceed 100 percent.

The second point is that pawnbrokers have been providing a valuable service for centuries as a source of readily available credit to a section of society that has been underserved. Thousands of years ago it was subsistent farmers in China, today its folks riding the No. 9 bus down Central Avenue working in kitchens across the city, mowing lawns, and doing other menial jobs that for the most part go unseen by the majority of society. It also includes senior citizens on social security or welfare who are unable to pay their bills in a typical month. It is a part of society for which bank-issued credit is not an option as American Express does not bombard them with gold card offers, and in most cases Bank of America will not even grant them a checking account.

Most of the heat and humidity outside has joined us inside of Spoke’s Park and Pawn. The clouded glass door opens, the rusted bell rings and in walks a gorgeous woman in a short, clingy dress and a humongous guy with dreads carrying a vinyl covered guitar case. In the case is an out-of-tune gleaming black guitar and painted on the back is a heart surrounded by a crown of thorns. Along with the guitar and case is a collection of how-to tapes and books. In Will’s place, eventually a story is told about why someone is selling their stuff – in this case, a musical career was planned that never panned out and a need for money overtook the woman’s musical dreams. Will & Co. took a quick look over the guitar and books, offered the couple a price that they took, and another happy lifelong customer walked out the door.

In between customers, Spoke is boxing up items for eBay like an assembly line, weighing the box, packing the goods, and slapping a USPS pre-printed label on the outside to be picked up by the mail carrier, sometimes upward of 30 boxes a DAY. Both shop owners I met agreed: eBay is a huge source of income for all pawn shops and in most cases more is sold on eBay than in their stores. Plus, eBay is a ready source of current prices for just about anything. In Central Jewelry & Pawn I was told of a woman who brought in a sterling silver tea set she valued at $1,200. A quick look on eBay found that a similar set recently sold for just south of $500. As a result, the tea set was bought for $200. Before eBay, they all agreed, this sort of price shopping was impossible.

A healthy but harried woman in her early 30s comes in to Spoke’s store after Will had left for the beach; Will Jr. takes care of her. She lays on the counter three very small silver necklaces, with crosses made of semi-precious stones. In a business-as-usual manner, Jr. takes the necklaces, eyes them under a jeweler’s loop, tosses one aside, and takes two to weigh on his scale. The numbers tickle upward ever so slightly as the necklace folds into a small bundle on the scale. Will Jr. quickly turns and apologizes, saying there really isn’t enough silver in her necklace to be worth much more than a couple dollars. Her demeanor quickly changes from one of nonchalance to quiet desperation. Not understanding Will Jr., she says she’ll take it. He clarifies by saying the necklaces are worth $3 at his price, meaning only about a dollar to her. She hears this but once again says, “Fine, whatever I can get.” With a small amount of patience left, Jr. says it’s really not worth it to fill out the paperwork, get thumbprints, take down a driver’s license, and report it to the police for a potential profit of $2. Not hearing and with the desperation in her voice growing, she says she understands but would still like to sell the chains. Will Jr. realizes the situation she must be in, and with a touch of exasperation reaches back and pulls $3 from the cash register, and without taking the chains he hands her the money.

~ Todd Trimakas