POSH Pawn star James Constantinou says that even his wealthiest are struggling in the cost of living crisis.
The Surrey-based pawnbroker, who features on the Channel 4 show, said people are desperately selling family heirlooms.
James revealed that the demand for pawning has increased significantly, and more and more people are failing to claim back their precious possessions.
“I fear that we are facing the worst year the economy has faced for a very long time,” he said.
“I have been approached by a lot of clients from the restaurant and bar industry, who are struggling to cope with energy bills and staff wages,”
“One client, the owner of a chain of restaurants, came to me with a 965 Jaguar E-type, worth over £70,000, and another a solid gold Rolex worth £10,000 that was an 18th birthday present.”
“These are items with so much sentimental value, but people simply have no choice.”
James expanded his Pawnbroker business after his appearance on Posh Pawn, which aired on Channel 4 for seven series.
He became famous for pawning high-value goods, ranging from million-pound helicopters and Lamborghinis to £250,000 Hermes handbags and rare items including a piece of Princess Diana’s wedding cake.
“The client with the Jaguar was very emotional when he approached us. The car belonged to his father, who had worked on it and restored it,” he continued.
“It was something he deeply cared about, and I was very moved when he came to me with such a precious possession.”
“Interest rates are currently the biggest killer for people. Business owners are really struggling. Staffing has also been a problem for people after Brexit and the pandemic.”
