Pawn Shops - To Insist or Let Go?

1. Pawn Shops - To Insist or Let Go? F.3D Group 6

2. Members: Leader : Lo Ho Yan , Joyce (31) Member : But Wing Suet , Crystal (20) Lai Kei Ying , Alice (26) Lee Sze Wing , Celia (28) Ng Tung Yee , Ina (33) Ngai Wing Sze , Jessica (35) Pang Hoi Ki , Tracy (36)

3. Research Questions In the past 50 years, the pawn shops are being replaced by banks and financial companies. Are pawn shops still functional? Should they stay or go?

4. Literature Review • Pawn shops started when Buddhism spread in China. • The first legal pawn shop in Hong Kong came in 1926. • Developed well in HK after the Second world War.

5. At early times pawn shops accepted something not very valuable. • Inside the door there is a big wood plank, called ‘遮醜板’and there is a big Chinese text ‘押’, which means “pawn”.

6. Interest of pawn shops is very high <9出13歸>. • ‘朝奉’is the most important person responsible for checking the values of things.

7. The number of pawn shop in Hong Kong Most of them are located in Kowloon

8. Data Collection 1. Telephone Interview 2. Street Survey

9. Data Collection 1. Telephone Interview The pawn shops we phoned:

10. 大興押 1)About 30 people.2)No regular pattern.3)No change.4)No regular pattern. More people come to pawn shop on horse racing days.5)Sometimes.6)It’s because there are many people who go to Lucky Plaza to shop or bet.7) Between 20 and 80 years old. 11) How many people come to pawn shop every day?2)What types of people come to pawn shop?3) Did the types of things that people pawn change in 1970s to 1980s?4) Which days do you have more work to do?5) Do people come to redempt their things?6) Why do you choose to open your shop in Lucky Plaza?7) Can you tell us the age range of your staff? Phone Interview 1

11. 永業大押 11)About 15-20 people.  2)No regular pattern, mainly are elderly.3) Gold, watches, jewelry. 4) The horse racing day5) Yes, there are about 70% 1)How many people come to pawn shop every day? 2) What types of people come to pawn shop?3) What type of things that the people will pawn usually?4) Which days you have more work to do?5) Do people come to redempt their things? Phone Interview 2

12. 廣福大押 11)30 or above 2) No regular pattern.  3) Gold or jewelry 4) No regular pattern. 5) Sometimes. 1) How many people come to pawn shop every day?2) What types of people come to pawn shop?3) What type of things that the people will pawn usually? 4) Which days do you have more work to do? 5) Do people come to redempt their things? Phone Interview 3

13. We can see that: • Many pawn shops refused to provide any information. • They emphasize customers’ privacy and business. • The pawns shops remain a mysterious business.

14. Data Collection 2. Street QuestionnaireSurveys

15. Date: 28th Jan, 2007  a horse racing day Place: Shatin Central Park  many pawn shops nearby Target: 50 people on the street  50% retired workers  elderly 50% Domestic workers from the Philippines and the Indonesia Age: 25-35---45% 35 or above---55%

16. Findings - questionnaire • Have you ever been to pawn shops?

17. 2.How often do you go to pawn shops?

18. 3. What kind of things do you pawn?

19. 4. How much do the pawn shops pay you per item?

20. 5. Why do you pawn at pawn shops?

21. 6. Why don’t you go to pawn shops for a loan?

22. 6. Do you think pawn shops would decline?

23. 7a. Why do you think pawn shops WOULD decline?

24. 7b.Why do you think pawn shopswould NOT decline?

25. Conclusion Pawn shops would not decline! Because: 1.Telephone interviews: • 30 customers go to the pawn shops to pawn things every day →pawn shops still have a stable income. • staff are 20-80 years old →some young people are interested in working in pawn shops.

26. 2. Questionnaires(50 people): • 33/50 -> pawn shops would not decline ∵some people need pawn shops, especially domestic workers. • domestic workers -> ∵can’t borrow money from banks. • bank loans only provide a huge credit each time & it takes a long time to get the money

27. The pawn shop should STAY!

28. The End