Skip to comments.Sneaker Pawn in Harlem
Posted on 06/18/2014 6:29:57 AM PDT by MeshugeMikey
A father and son team have opened a business in Harlem called Sneaker Pawn. Troy Reed got the idea when he would take his son Chase's sneakers for collateral when he would borrow money.
Customers can pawn, sell, or buy from the store.
(Excerpt) Read more at myfoxny.com ...
That is sad. I have been financially successful, but I have never owned more than two pair of sneakers (the comparatively new ones for every day, and the worn out ones for yard work). I also have never owned a pair worth pawning. It’s a shame that people who don’t have enough to get through the week/month blow money on expensive designer athletic shoes at the start of the month.
Sneaker rich, cash poor.
TV COMMERCIALS NOW: “Interest rates have changed!! Cash out some of your sneaker equity with a new sneaker pawn loan! Use it to buy socks!”
POLITICIANS IN FUTURE: “It’s not fair that many hard working Americans can no longer use their sneakers to access employment or walk out of their food deserts. We need relief paid for by a tax on those with more than 1 pair of shoes.”
Whites show off their status through their boats, cars, and houses. Blacks show off their status through sneakers, cell phones, and hoodies.
Different levels of economic power, but the same principle applies to both groups.
I know you’ve heard the stories about them robbing and even killing each other for the latest pair. IMO It’s just a symptom of failed behavior training at a young age and not being taught what is important in life.
Back in 1965 I was a young paratrooper with the 101st Abn. The pay back then was not very much for an E3, something around $100 take home a month. Toward the end of the month if I needed some cash I could pawn my dress jump boots for $20. Did not do it too often as you never knew when you would have an inspection and needed them, but it was an option.
Collectors don't like to buy used sneakers, unless they are extremely rare and only lightly used.
Also, one size definitely does not fit all.
This isn't like pawning jewelry, rare coins, or crystalware.
This business is really a poorly-secured payday lending shop.
“Those were the days”
I know a guy who borrowed $2k to put fancy rims on a beater of a car...that’s right, they have wheel financing. Then the car got reposed :(. He took the rims off before the repo, but wouldn’t sell them - just kept them in his basement.
In another case, a relative’s daughter is connected (by a baby) to a young, unemployed, slacker. For his birthday, my relative gave them a hundred dollar bill - for expenses. The next day, he was wearing a $100 ball cap.
I’m presuming he will ensure the shoes are fit for sale, but there would be a market for somebody to want to buy two year old Jordan shoes, that originally sold for $200, for $60.
I just searched for ‘hundred dollar baseball cap’ and now I am even more confused.
The New “Sneaker Economy!”
There’s a reason the poor will always be with us.
Pouring welfare dollars into their economy is like putting Miracle Grow on weeds.
Back when construction was booming, I noticed a Memphis shopkeeper erected a big sign that read “Rent Boots Here.” His store was in the parking lot where businesses hired day laborers every morning.
ya can see it now,
holder’s people robbing others of their sneakers and taking them and pawning em.
Chumlee, Pawn Stars is a sneakerhead and owns over a 100 pairs of sneakers
worth a lot money. Here are some links /photos.
Rim stores around Memphis finance rims, but they also rent them and do rent-to-own.
A whole new TREND is in the making!!
This may eventuate the chipping of high priced and not so high priced sneakers.
Imagine the new “Entertainment Titles” that we might soon be treated to
“Sneaker-Fly”,,,,, “Sneakers In The Hood”....” The Sneaker Broker”
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