ALBUQUERQUE, N.M. (KRQE) – With inflation soaring, people are looking for ways to make a few extra bucks wherever they can. That has business booming at some pawn shops and consignment stores. “We hear a lot that gas is killing me, inflation, you know all of that is killing me, so I understand how it goes,” said Chris Reeves, the owner of Uptown Pawn in Albuquerque’s Northeast Heights.
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For him, the business has been booming in the last few months because more people are selling off their possessions to make an extra buck amid record inflation. Reeves says anything from electronics, guns, to jewelry, the shop is seeing it all.
He added business has doubled recently something Uptown Pawn has never seen before. In fact, they have even had to turn some items away, which they don’t like to do, but have to during times like this. “You know certain items, bigger items, we have definitely turned away because we have too many, that’s for sure,” Reeves said.
It’s not just pawn shops, local consignment stores are seeing more business too. Kelli Hulslander, the owner of Your Other Closet on Eubank has seen furniture, home decor, and clothes coming through her doors non-stop over the last few months. “People aren’t necessarily taking their things and just dumping them at a not-for-profit or a thrift store. They’re rethinking how they get rid of items because I do think they’re now like ‘oh maybe that extra 10 dollars is going to make a difference,” said Hulslander.
The owners of both of those shops say sales are also up. They say people are looking for better deals when they are shopping in these tough times.