For centuries, people who need some fast cash have turned to pawn shops: "pawning" some personal treasure for a cash loan.
Today there is a modern way to pawn an item. Instead of driving from shop to shop, you can turn to a Michigan-based startup called PawnGuru and do your dealing online.
“Musical instruments are an example of the kind of item where the offer spread is pretty significant,” said PawnGuru co-founder Jordan Birnholtz. “Some pawn shops are really skilled at appraising guitars and other musical instruments where others aren’t, and the ones that are going to be a little more skilled are going to be able to offer you more money in general.”
Listen below for the full conversation with co-founder of this Southfield-based company, Jordan Birnholtz.
The Next Idea is Michigan Radio’s project devoted to new innovations and ideas that will change our state.