January 2011 CT Magazine: Here Today, Pawn Tomorrow by Ray Bendici “We’re a family business,” says Jay Sargent, partner and general manager of TC’s Pawn Co. in Waterbury. As I walk around his 5,600-square-foot retail space on Lakewood Road, it’s certainly not what I’d expect of a pawnshop. It’s a bright, well-organized store, with shiny glass jewelry cases and orderly rows of DVDs and CDs. Laptops and iPods line shelves, guitars hang in a neat row, and there’s nary a gun or “adult”-themed product to be seen—TC’s handles weapons sales online and doesn’t traffic in risqué materials at all. “We’re not like the stereotypical pawnshop that you see in old movies,” laughs Sargent. “It’s not a dark and smoky back room, with some old guy chewing on a cigar behind the counter. You can see we’re very mainstream. Usually mom is looking at jewelry, the kids are checking out the video games and dad is browsing through the power tools.” Stereotypes die hard, but Sargent, who is  also president of the Connecticut Association of Pawnbrokers, is running his Better Business Bureau-accredited enterprise with every intent to dispel the preconceived notions associated with his industry. Sellers are required to present a government-issued form of ID, and each item that TC’s buys is electronically catalogued with a picture and full description. Weekly reports are sent to the Waterbury police to be checked against lists of recently stolen goods; pawned items are also held for 30  to 60 days before being put out for sale in the store or offered to prospective online buyers, while items that are acquired outright for secondhand sale are held for 10 days. As at most pawnshops, when something is pawned, TC’s first evaluates the item for its secondhand value and lends the seller the amount in cash up front; if the seller returns for the item within the allotted time frame, he or she can get the item back for the cash lent plus interest and a processing fee. (About 85 percent return, but if they don’t, there’s no blemish on their credit report.) Rates and time frames vary between shops; Sargent has been working with legislators to establish standard statewide licensing and regulations for pawnshop operations. Currently, each municipality has its own rules. TC’s also has been part of the Waterbury business scene for 25 years, and is heavily involved in the community, supporting  the Children’s Miracle Network Organization, the Police Activity League and many other charities. Further helping to bust pawnshop myths is the wave of recent TV reality shows like “Hardcore Pawn” and “Pawn Stars,” which Sargent dismisses with a laugh. “Those shows are mostly staged,” he says. “You don’t get Civil War cannons or other rare collectibles in a pawnshop every day. And you certainly don’t call in an expert for each one. You have to be the expert and know what an item’s worth. Even if you don’t know, you can still go to the Internet and look it up.” Currently, Sargent says that 30 to 40 percent of his business comes from buying and selling gold, and TC’s offers a lot of jewelry, especially diamonds and silver—display cases are stocked with pieces from Tiffany, Rolex and Cartier, and there’s even a goldsmith on the premises. In a sign of the times, there’s also an abundance of tools and heavy-construction equipment available here, everything from ladders to jackhammers—anything a general contractor would need. Although collectibles do find their way to TC’s—they’ve handled specialty items from baseball cards and antique Spencer repeating rifles to Cessna airplanes and Cobalt power boats—the majority of the more unusual pieces are sold through online auctions like eBay, which offer a bigger market. TC’s is a licensed gun dealer, but that business is also done online or through other dealers. Actually, Sargent estimates that about 15 percent of his business now comes from Internet sales, and the building on the adjacent property, which was recently acquired, is now devoted primarily to handling Web-related transactions. With the recent economic downturn, business has been steady at TC’s as more people need to raise quick cash however they can or find bargains. It has allowed Sargent to keep a staff of 14 full-timers and three part-timers, many of whom have been with the company for over five years. TC’s also has a second retail sales building, featuring car audio accessories (new and used) as well as larger items like snowblowers and construction-related equipment. In the back lot where autos are kept—yes, TC’s is licensed to sell used cars, too—a Ford Mustang convertible sits between a classic Dodge Dart and a Land Rover, which is next to a dump truck and behind a sailboat. “Our clientele ranges from the unemployed to working-class families to doctors and lawyers,” says Sargent, who also describes many of his customers as “unbankable” or struggling with credit issues. “In the past two years, we’ve been able to help 20 or 30 people pay their mortgages. We’ve also had people come in, find a diamond ring they could afford, drop to one knee and propose right here in the store. “I’ve heard more stories than you could fill your magazine with,” says Sargent. “It’s a unique business—no other like it in the world.” For more information, call (203) 753-7591 or visit tcspawn.com. This article appeared in the January 2011 issue of Connecticut Magazine   November 2010 Waterbury Republican American News Paper Pawnbroker Thrives; Helps Others Survive, in the Best and Worst of Times by Trish Donohue - Communications Coordinator at the Waterbury Regional Chamber   In a downturn economy, many of the working families of America experience an unexpected need for short-term funds. For 25 years TC’s Pawn Company Jewelry & Electronics Exchange has helped struggling individuals and families meet daily financial needs with financing not offered by other institutions. Pawn loans keep the electricity on, the mortgage paid and cars running with full tanks of gas. Pawn customers are typically un-banked, under-banked, or have a strained banking relationship. A pawn loan is a service that a pawnbroker provides where other financial institutions often will not. “When the economy is good, people are looking to upgrade or invest in discounted merchandise,” says Jay Sargent, partner and managing owner of TC’s Pawn Company, Jewelry & Electronics Exchange.“When the economy is bad, you see a lot of unbanked people in need of money.”    How the process works According to the National Pawnbrokers Association, customers pledge property as collateral, and in return, pawnbrokers lend them money. Pawn loans are made on everything from jewelry to electronics. If the pawn customer chooses to redeem the loan, the collateral is returned upon repayment of the loan plus the regulated fee. The option to redeem the collateral remains with the customer until the expiration of the contract. If the customer elects not to redeem his or her collateral, there is no credit consequence to the borrower and the items are sold at a value price to retail consumers. “Value is assessed by what you can sell it for,” explains Jay. The average savings to the customer when buying from a pawn shop is 30% - 60%, he says. The price of most items for sale is negotiable. “I’ve always said that I’m the expert, I do not have to call one (in determining value),” quips Jay. “Mostly it’s experience”. Aside from using the Internet, Jay frequents second hand stores, antique shops and auctions. Best sellers at the pawn shop are jewelry and personal electronics. Also popular are computers, musical instruments, tools and DVDs. TC Mobile Audio and Video Superstore, (located next door to TC’s Pawn), retails a wide range of audio and video equipment. Licensed technicians are on staff for installation. Jay also provides vehicle pawn services. A money-back satisfaction guarantee is included on most items sold in both stores. TC’s Pawn acquired its first computer in 1991, back when few businesses owned computers and most operating systems hadn’t advanced beyond DOS. Today, four full-time employees sell a variety of the store’s products internationally on the internet. “We’re among the most technically advanced in our industry,” says Jay. The long held myth that pawn shops are “seedy little back alley stores” is quickly dispelled upon entering TC Pawn’s brightly lit showroom with isles of well-organized merchandise. “Pawnbrokers have been, and continue upgrading the interior and exterior of stores, as well as employee presentation, customer service, exterior signage, and their marketing and merchandising methods,” attests the National Pawnbroker’s Association. “We try to do a lot of things to better our image,” concurs Jay. “People have been brainwashed by the media. There’s a misconception out there that all you ever deal with are the undesirables’.” Jay attributes the success of his store, in part, to having personable, courteous, well trained staff. Half have been with him for 5-10 years. Better Business Bureau accredited, he says they’ve never had complaints. Word of mouth has gone a long way in attracting new business. Pawn transactions are the only type of consumer credit that requires reporting to local law enforcement agencies. In many states this reporting must include extremely sensitive personal information about the consumer (i.e. ethnicity, gender, address). “The industry is very regulated,” says Jay. “We go above and beyond what the law requires.” When someone comes in with a bag of gold, for example, TC’s Pawn first negotiates a price. Positive state issued ID must then be presented. TC’s Pawn records the ID and a full description of the merchandise being   pawned. Digital images are taken of jewelry. Every piece of merchandise that comes into the store is reported to the police department weekly. “We have a good rapport with local area police departments. We work closely with them and have assisted in thousands of cases.” Partnering with many area nonprofits, TC’s Pawn places high priority on helping the underprivileged in the community. Among the organizations it supports are the Children's Miracle Network Organization, Lt. Robert D. Westberg Scholarship Golf Tournament, Waterbury Crime Stoppers, Police Activity League (PAL), Disabled American Veterans, TOYS 4TOTS and the Wolcott Street Lakewood Road Business Association. Additionally, TC’s Pawn Company has sent inner city children to Camp Farwell in recent summers, a picturesque girls’ camp in Newbury, Vermont that provides unique wilderness experiences exclusively for young girls. Students participate in an essay contest and the two best essayists are chosen. On December 7th at 4:30 p.m. TC's Pawn will host its 3rd Magical Mile Tree Lighting with support from the Wolcott Street Lakewood Road Business Association. The free event will feature Santa Claus, refreshments (compliments of the Association), and a raffle. The Children's Community School and Waterbury Police Athletic League youth will delight all in attendance with a repertoire of holiday songs. “The community is very important to us,” says Jay, who started at the pawnbroker shop as a counter person in 1989 and worked his way up to become managing partner of the now thriving business. “I grew up in poverty on welfare,” reflects Jay. “I lived in foster care for 5 years. People ask why we’re so successful. It’s because we’re empathetic. We don’t judge and we are fair.” TC’s Pawn Company Jewelry & Electronics Exchange is located at 503 Lakewood Road, Waterbury, CT 06704. Waterbury Republican American News Paper Magical Mile Donations Benefit Charities All Year Long by Diane Ploch Part of the “magic” on the Magical Mile is the sense of community spirit shared by the businesses there. Members of the Wolcott Street/Lakewood Road Business Association work together on events like the annual Tree Lighting, Flag Day and Earth Day Clean-Up, but individually many are dedicated to giving back to the local community and those in need through various charitable organizations. Chair of the Association, Jay Sargent, sets a good example. As Regional Manager of TC Pawn Company Jewelry and Electronics, his business not only hosts the annual Tree Lighting but also supports organizations like Waterbury’s Police Activity League. (Read more about Sargent’s giving spirit on page 8.) We talked to several other businesses on the “Mile” about how they contribute to the community. The Wireless Zone gives at a couple levels. Local owner, Kathy Saska, explains that a portion of store proceeds go to the Wireless Zone Foundation for Giving and each store owner can nominate organizations to receive grants. Saska has helped secure $5,000 grants for Waterbury Youth Services and the Child Guidance Clinic, now known as Wellpath. Recently supporting Brave at Heart, a breast cancer survivor group, Saska provided pink flannel pajamas, chocolates and gift bags to about 30 women participating in their annual weekend to celebrate life. This is the third year Wireless Zone has contributed gifts to the cause. “This is the least I can do as a small business wanting to support my local community,” says Saksa. “I make an effort all year long to make charitable contributions that are important to my employees, my customers and the local community.” .... Waterbury Republican American News Paper Magical Mile Committed to Growth and Tradition by Diane Ploch The last year was a busy one for the Wolcott Street/Lakewood Road Business Association with collaborative events and new faces. Community Spirit The annual Holiday Tree Lighting on the Magical Mile was held on December 8, 2009, at TC’s Pawn Company Jewelry & Electronics Exchange on Lakewood Road. Kids visited with Santa while guests enjoyed refreshments and food samples from restaurants on the Magical Mile. In addition to a live DJ, groups from Children’s Community School and Waterbury’s Police Activity League performed. Children 18 and younger were eligible for a free raffle drawing with prizes such as iPods, a Nintendo Wii and free rental of a bouncing room donated by local merchants. An estimated 150 attended. On Saturday, May 1 volunteers pitched in to spruce up the Magical Mile as part of a city-wide cleanup. Based on an inventory of ‘hot spots’ that were in desperate need of clean up, the group cleared debris from the area from TC’s Pawn Company Jewelry & Electronics Exchange to Lakewood Lanes in three hours. The City of Waterbury provided bags, gloves, water and a ticket for a hot dog lunch courtesy of Frankies.     October 2010 ANNOUNCEMENT: TC's Pawn Company to host the Magical Mile Tree Lighting on Tuesday, December 7, 2010. This will be our 3rd year in a row hosting this event with the Wolcott Street Lakewood Road Business Association and the Waterbury Regional Chamber. Every year gets more exciting for us as the crowds grow! This holiday season may prove to be more difficult than others for many families in our community so, are welcome for this is a FREE event. Santa Claus will be present and available for every child to visit with. There will be food and refreshments served compliments of other members of the Association and chances for many children to win fantastic gifts! It is an opportunity for local business to give back to the community we reside. We are looking forward to hearing the holiday songs sung by the youth of The Children's Community School and Waterbury Police Athletic League! The event starts at 4:30 in the afternoon and generally runs about 2 hours depending on the number of children visiting with Santa. Look for the special Magical Mile insert in the Republican American Newspaper in the beginning of November for Great sales and specials from Magical Mile Businesses! Continued support for the Lt. Robert D. Westberg Scholarship Golf Tournament. TC's Pawn Company has for many years supported this great event! The 11th Annual Tournament was scheduled for Monday, October 4, 2010 at the Country Club of Waterbury. Last years event was another great success and raised impressive money for the scholarship fund which awards deserving sons and daughters of current, retired or deceased Waterbury police officers who plan to pursue college degrees. The generous spirit of deceased Waterbury Police Lt. Robert D. Westburg continues! September 2010 TC's Mobile Audio Presented 2010 USACI Sight & Sound Competition - September 26th was a loud day in the neighborhood (we apologize for all the noise!) We hosted over 42 competitors in SPL and Sight. There were unbelievable sound systems being displayed as well as some amazing looking vehicles with loads of custom work. HOT 93.7 radio was on site with personality and games for the kids & TC's staff sold ice cold water to raise money for Waterbury P.A.L.. Read all about it in the Annual Magical Mile insert in the the Republican American Newspaper in Mid November 2010! TC's Pawn Company supported it's community once again becoming a Platinum sponsor supporting Waterbury Crime Stoppers 24th Annual Ziti Dinner that took place at the Ponte Club in Waterbury - As we have for many years in the past. Concerned citizens of the Waterbury Area working together with local law enforcement to help solve and prevent crime in our community to keep it safe for our children and all citizens - Thank you to everyone who attended for the support of such an important organization! click here for info  July 2010 Supporting the community in the hot summer heat! TC's host car wash to benefit The Waterbury P.A.L. Girls Basketball team. What a great day it was to have your car washed! We had a great turn out and the girls earned money to go off to Florida for a Championship game. Not to leave other P.A.L. children out, they also donated a 46" LCD Television to P.A.L. Summer Camp for kids in Wolcott for those rainy days. June 2010 Through our association with the Waterbury Regional Chamber, TC's Pawn Company sells over 300 flags to raise money for our local chapter of Disabled American Veterans. Jay Sargent, Managing Partner of TC's Pawn Company Joins local politicians and Veterans at the Magical Mile Flag Raising Ceremonies.    December 2009 TC's Pawn Company hosts the Magical Mile Tree Lighting. Over 100 children from the community enjoyed a visit from Santa Claus and received gift bags and raffle tickets for great prizes! Children from The Waterbury Police Athletic League sang holiday carols prior to the tree being lit with LED energy saving bulbs. Local restaurants donated food for all to enjoy! TC's Donated $500 to the Music Department of The Children's Community School in Waterbury.     September 2009 9-24-09; Continued support for the Lt. Robert D. Westberg Scholarship Golf Tournament. TC's Pawn Company has for many years supported this great event! The Tenth Annual Tournament was scheduled for Monday, October 5, 2009 at the Country Club of Waterbury. Last years event was another great success and raised impressive money for the scholarship fund which awards deserving sons and daughters of current, retired or deceased Waterbury police officers who plan to pursue college degrees. The generous spirit of deceased Waterbury Police Lt. Robert D. Westburg lives on! TC's Pawn Company supported it's community once again becoming a Platinum sponsor supporting Waterbury Crime Stoppers 23rd Annual Ziti Dinner that took place on September 10, 2009 - As we have for many years in the past. Concerned citizens of the Waterbury Area working together with local law enforcement to help solve and prevent crime in our community to keep it safe for our children and all citizens - Thank you to everyone who attended for the support of such an important organization! click here for info 8-13-09; It is with regret to inform our valued customers that we have closed our East Hartford location.  Since opening up the East Hartford location, we have felt very welcomed into the community. You -- our customers & the work we were able to do within the community --  is what made this such a satisfying and successful place to work. On behalf of the entire staff, we thank all of our  thousands of customers for allowing us to serve you and, more importantly, for making us feel at home. Please feel free to call or visit us at our Waterbury location --- where we've been for 25 years -- at 203-753-7591. The store is located at 503 Lakewood Road, Waterbury, CT 06704. click for directions Again, we thank all our customers for your support over the past couple of years. We'll miss seeing you in East Hartford. Sincerely, The TC's Staff   Partners in the Community TC's donates gifts to help raise money for the Children's Miracle Network Organization Continued support for the Lt. Robert D. Westberg Scholarship Golf Tournament. TC's Pawn Company supported it's community once again becoming a Platinum sponsor supporting Waterbury Crime Stoppers Another year (August 2009) that TC's is sending inner city youth to Summer Camp for 3 weeks in Vermont. Disabled American Veterans attend the flag raising on the Magical Mile TC's Pawn Company donates TV's to elderly fire victims in Waterbury Christmas sponsorships for families in our communities from TC's Pawn Company 12-2008 TC's opens it's doors as drop-off centers for local TOYS 4 TOTS efforts - Drop off by 12-19-08 Magical Mile Business Association Tree Lighting to take place at TC's Pawn Co. in Waterbury 12-10-08 Supporting Waterbury Crime Stoppers 22nd Annual Ziti Dinner September 11, 2008 Reach- Out of Waterbury receives Support for Youth Appreciation Day from TC's Pawn Company Donation of Wii System Helps the Elderly through a Home-to-Home Foundation's partnering Nursing Facility TC's Pawn Company Supports DAV, Disabled American Veterans TC's Pawn Company Sends Inner City Youths to Summer Camp Young Campers get Target "Shopping Spree" for Needed Items from TC's Pawn Company   Newspaper Articles In tough times, pawnbroker's role in community expands The General Manager of TC's Pawn Company becomes Chairperson of the Business Association TC's Receives Business Association Marketing and Positive Image Award TC's Sends Inner City Youths to Summer Camp, E.H. Gazette- 6-25-08 Pawnshops: A Popular Place During Tough Times, Hartford Courant 6-16-08 Gold can be an economic indicator, Republican American- 1-26-08 Advertising Campaigns - TV Commercials also see Sales & Promotions

Supporting Our Communities...

Waterbury Crime Stoppers - Press Release Sept 9, 2008

22nd Annual Ziti Dinner, Thursday 9-11-08, 12pm - 8pm

TC's Pawn Company becomes a Platinum Sponsor for the Waterbury Crime Stoppers Annual Ziti dinner. Waterbury Crime Stoppers, Inc. is a non-profit organization, which pays rewards up to $1000.00 to anonymous informants who provide information leading to the filing of criminal charges against perpetrators. The annual dinner helps to raise the funds needed for these efforts. TC's Pawn Company believes it's important to work with it's communities and law enforcement agencies in order to help  prevent and solve crime, therefore participating in creating safe environments for our children to grow and prosper. TC's has supported these efforts for many years.

For more information on the 22nd Annual Dinner, visit www.waterburycrimestoppers.org

WASHINGTON D.C., June 23, 2008 -- TC's Super Pawn Co. Jewelry has been selected for the 2008 Best of Waterbury Award in the Pawn Shops category by the U.S. Local Business Association (USLBA).

The USLBA "Best of Local Business" Award Program recognizes outstanding local businesses throughout the country. Each year, the USLBA identifies companies that they believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and community.

Various sources of information were gathered and analyzed to choose the winners in each category. The 2008 USLBA Award Program focused on quality, not quantity. Winners are determined based on the information gathered both internally by the USLBA and data provided by third parties. SOURCE: U.S. Local Business Association.

Supporting Our Communities

TC's Pawn Company helps support local Disabled American Veterans - June 13, 2008

 

As a very proud participant in a fundraiser sponsored by "The Magical Retail Mile" (Wolcott St & Lakewood Rd Business Association) & The Waterbury Regional Chamber, TC's sold miniature American flags at our Waterbury location along with other members of the Association. On June 13, 2008 a flag raising ceremony took place on Wolcott Rd in Waterbury, CT and it was at that time our Assoc. Chairperson Senator Robert Kane presented our contribution to the DAV. We are proud to support our local community and our Disabled American Veterans.

Supporting Our Communities...

TC's Pawn Company Sends Inner City Youths to Summer Camp in Vermont

Hartford Courant Newspaper, CT June 16, 2008

Pawnshops: A Popular Place During Tough Times

In Difficult Economic Times, People Tend To Do What They Must To Make Ends Meet - BY WILLIAM WEIR | Courant Staff Writer

 

JOSH TARNOCZY of TC's Pawn Co. in East Hartford tests an electric keyboard brought in by Danae Javinett, a Manchester Community College student. Javinett said the $35 she got for the keyboard and an electric guitar tuner would be used for gasoline and groceries. (MARK MIRKO / June 13, 2008)

Consider some of the folks who passed through TC's Pawn Co. in East Hartford around lunchtime one recent day:

A 48-year-old plumber shopping for $1 CDs (he also bought an electric guitar for $40 in the parking lot from a man who was planning to sell it to the store); a 76-year-old woman buying a 14-karat gold ring for about $90 (she also wanted to sell her humidifier, but found no takers); a community college student selling a Casio keyboard for $25 to pay for gas and groceries; a 68-year-old retiree pawning for $600 a ring he says is worth $6,000, which he expects to get back in a few weeks. Some were looking for deals, some just to get by.

"In the recession that doesn't exist, according to George Bush, people are losing their mortgages, and they pretty much get money wherever they can get it," said Jay Sargent, owner of TC's Pawn at 7 Pitkin St.

Good economy or bad, the volume of business at pawnshops is fairly steady. The difference is whether people are buying or selling, and who's doing it. In a downturn, the clientele gets more diverse. Sargent nodded his head toward the security monitor on the wall of his office. A woman at the counter who looks to be in her early 40s is selling a couple of her rings.

"See, she's got her Gucci and her Burberry on," says Sargent, who has an eye for such things after 20 years in the business. "Does she look like your typical pawnshop customer?"

Pawnbrokers have done their business for thousands of years with little change in procedure or reputation. An air of desperation has always lingered around any establishment bearing the three-ball logo, the pawn's international symbol. But times are tough, and a lot of people are considering things they hadn't before to make ends meet.

Whether it's a good idea to sell your stuff at a pawnshop, apparently a lot of people do. According to the National Pawnbrokers Association, the number of pawnshops in the U.S. has increased from 6,900 in 1988 to about 13,000 this year.

If you've got some jewelry or a saxophone you want to hock, there are a few things to know. For one, don't say "hock" — it automatically marks you as a newbie in the pawn world.

People often confuse secondhand stores for pawnshops. But in addition to buying and selling used goods, a pawnshop makes loans in exchange for items. For instance, if you bring a watch into a pawnshop, you can either pawn it or sell it outright. If you pawn the watch, it's essentially treated as a loan, with the watch as collateral. You get a ticket for your item and have 60 days to repay the loan with interest. During that time, the store must hold onto it. After the 60 days are up, the item is forfeited and the store will mark up the price significantly and sell it.

Interest rates and other fees vary. Sargent is otherwise forthcoming about the pawn business, but he won't discuss his rates and fees.

Jewelry, especially gold, is the most popular item. Next are computers, and then video game systems. Musicians and contractors get hit particularly hard in bad times, Sargent says, and you'll find a lot of musical instruments and power tools in the aisles.

Some pawnshops in Connecticut fit the popular image of "seedy little back alley stores," as Sargent puts it. Even in midday, some require being buzzed in from behind locked metal doors.

But TC's Pawn is brightly lit with neatly arranged aisles, and staffers — all wearing official TC's T-shirts — politely ask customers if they need help. Between his two stores, the 38-year-old Sargent employs 22 people and is president of the Connecticut Association of Pawnbrokers. He talks about cleaning up the image of pawnshops, and refers to his customers as "a community."

About a mile from TC's in East Hartford is Fernando's Pawn, though the large sign outside simply reads "PAWN SHOP." Located at 711 Burnside Ave., it's a sparse setup, with a glass counter bearing mostly jewelry, but also some CDs, DVDs and video games.

The manager, Matt Conforto, is a talkative 24-year-old. He's interested in jewelry and knows about appraising stones and metals, and figured the pawn business was a good fit. The store competes with U-Pawn, directly across the street at 700 Burnside, and customers often stop at both places before finalizing deals. A man behind the counter at U-Pawn, a considerably less media-friendly venue, says, "Take it down the road, I don't deal with any newspapers."

The first customer to enter Fernando's is a fellow holding a can of beer in a paper bag, and he immediately tells Conforto a story about how someone recently paid him $50 to use his ID to sell some stuff at another shop. He says he has some air conditioners and a Bowflex exercise set down the road and needs a car to get them to the shop.

"I deal in a lot of hot [items]," the man says. Don't bring them in here, Conforto replies.When the man learns that there is a reporter in the shop, he introduces himself as "Joe Blow." Then he tries to cut a deal with the reporter to transport the air conditioners, but strikes out again.

Stolen goods are probably the biggest blot on the public image of pawnshops. To that end, by state law, positive identification is required of customers for all transactions. Stores also must report all pawns and purchases so that local police can compare them to descriptions of stolen items. Officials at the National Pawnbrokers Association say the problem isn't as bad as many think, and estimate that less than one-tenth of 1 percent of all goods in pawnshops are confirmed as stolen.

The next to stop in are teenagers from the shoreline. An 18-year-old from Essex is selling a 1,000-watt Kenwood amplifier for his car stereo. Conforto looks at it with suspicion. There's something odd about the steel plate, and the serial number doesn't look the way serial numbers normally do. It could be a knockoff, or stolen. Further inspection and discussion, though, sway Conforto that his new customers are on the up-and-up.

The young man says he is moving to South Carolina with his mother and figures it is better to get some money than ship all of his stuff. Conforto gives him $50. Normally, he wouldn't bother with the amplifier. His boss told him to concentrate on jewelry and air conditioners, which are almost as good as gold during heat waves. But the amplifier is almost new and a particularly good deal.

The teenager is happy to get $50, and Conforto says his boss can sell it on Ebay for between $200 and $400. So why doesn't everyone just use eBay or craigslist? For one thing, you can't beat pawnshops for speed. If you have what they want, the shops are quick cash. And selling online sometimes means meeting with strangers who want to look at your gold first.

In the world of pawnbroking, value is a fluid thing. What you bought it for or what the appraisal books say don't matter that much. Says Sargent, "Things are only worth what you can sell them for."

January 26, 2008 - Republican-American Newspaper, Waterbury, CT

Gold can be an economic indicator 

Pawnbroker sees trading on increase

T.J. KIRKPATRICK REPUBLICAN-AMERICAN
Jay S., general manager of TC’s Pawn Co. on Lakewood Road in Waterbury, weighs gold necklaces. The price of gold has hit record levels and now more people are selling it to the pawnshop.