Connect with us

Phuket

Thousands pawn valuables to cover back to school costs

Published

 on 

PHUKET: Phuket’s pawn brokers said transactions on May 10 totalled nearly 12 million baht, as families pawned valuables to cover their children’s school costs.

Phuket City Municipality Pawnshop representative Apirat Chaiyakul said transactions between May and June are expected to increase by as much as 30 per cent over last year.

Mr Apirat said his store will do around 180mn baht in total transactions this year, mostly with items such as gold jewelry, watches, TVs and cameras.

“In order to help parents who need money for their child’s education, we are thinking of implementing a discounted interest rate policy for this demographic,” Mr Apirat said. “The customers would bring the school fee receipt and would only get a one per cent interest rate, down from our current 1.25 per cent rate.”

Nida Sengsuda, together with her six-year-old granddaughter, Kuntida Maimung, was one of those customers at the Phuket City Municipality Pawnshop.

“She is studying at Kanchanawat Witthaya and the total expense per term is about 13,000 baht,” Ms Nida said. “We have to pay twice a year and her mother doesn’t have enough money, so I have brought my gold here.”

“We do this twice a year, every year, as we cannot earn enough money by the time we have to pay for the school terms and other expenses. Normally, we try our best to get enough money to buy our gold back within a few months,” she added.

Another woman, who wished to remain nameless, echoed Ms Nida’s comments.

“I have three children, six, 10, and 15 years old,” she said. “In the past few years, I’ve earned enough to support them at school, around 40,000 baht, but now that they’re older I need more money. I am working a freelance job, so I cannot guarantee my income,” she added.

“When I had money, I bought gold items so I could pawn them if I ever needed it quickly. I’ve always gotten the gold back on time because I also need to show off to my family when I go back to my home town.”

Every year, the Phuket City Municipality Pawnshop seizes approximately two million baht worth of items from those who cannot afford to buy their things back.

“It’s not much out of the 12mn baht in trading that we do,” Mr Apirat said. “Most [of the seized items] come from teenagers who pawn for smaller amounts. The pawned items are then put on sale every second Saturday of the month.”

— Kongleaphy Keam

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Phuket3 mins ago

Thai VietJet cancels Phuket – Bangkok flight last minute over 1 extra passenger

Food37 mins ago

Thailand’s top cheesemaker toasts his own success

Crime50 mins ago

New details unfolding over alleged assault by Pattaya loan sharks

Sponsored4 hours ago

Where you can get cannabis in Bangkok

Hot News1 hour ago

Family of man who died after a hair transplant warns others to avoid cowboy clinics

Pattaya2 hours ago

Ladyboys steal Russian tourist’s gold necklace in Pattaya, Thailand

Hot News2 hours ago

7-Eleven stores introduce digital govt service channel for Thais

Join the conversation on the Thaiger Talk forums today!
Thailand3 hours ago

Motorbike taxi driver wins 12 million baht lottery jackpot in Thailand

Tourism3 hours ago

Tourists flock to famous market in Koh Samui

Cannabis News4 hours ago

9 year olds smoke cannabis on Pattaya Beach in Thailand

Education4 hours ago

A guide to the costs of international schools in Thailand

Thailand4 hours ago

Woman allegedly steals winning lottery ticket from friend

Thailand4 hours ago

Driving licence point deductions starting next year in Thailand | GMT

Board of Investment5 hours ago

Thailand’s Board of Investment unveils transformation plans

Hot News5 hours ago

Pattaya Walking Street gunman surrenders claiming it was ‘friendly fire’

Cultural Activities6 hours ago

Part two: the most haunted places in Bangkok

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending