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Upscale pawn shops cater to wealthy clientele

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  • Description

    Shopper's Market: Get quick cash for luxury items online and offline

  • Duration 1:39
  • Date

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This transcript is automatically generated

The need for fast cash hitting the wealthy.

As more rich people flocked to upon shops most people don't realize up -- the 1950s.

Pot -- from the number one former consumer credit the United States.

A new breed of -- -- shops is willing to trade cash for pricey personal items like jewelry antique cars and fine wine.

The industry seeing a boom during the economic downturn as bank lending tightens.

So waiting -- quick cash -- little if you need a few thousand dollars it's really difficult go to a bank.

And apply for this stuff.

You can swap your goods for cash online to.

Altar upon dot com let's owners trade in their luxury items for cash from the comfort of their own homes transactions on the side or not just a couple of hundred dollars.

But tens of thousands of dollars.

We felt that there was definitely need for the 2% -- luxury customer where if they had valuable items needed liquidity from time to time.

Give them an upscale customer service experience where they could do that.

-- -- appraisal of collateral such as jams precious metals and art works.

Starts online through photos.

Give us a brief description of the item.

We assign you to a specific customer service representative and we give you an estimate of the item you wanna proceed with the deal.

You simply fed ex us the item we pay for the shipping we fully insure the item.

And we typically why are -- money up to a million dollars within 24 hours.

The number upon businesses has increase by half in the last five years to around 101000 shops over that time the average -- loan.

And almost doubled to a 150.

Dollars in New York -- about her Fox News.

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