Shenyang (CNS) -- Facing soaring wedding costs, newlyweds in Shenyang are pawning their belongings to obtain money for the wedding, and shopping at the pawnshops for cheaper jewelry.
One pawnshop in the Heping District of Shenyang received as many as eleven couples on the single day of October 16.
Wang Bingren, owner of the pawnshop, told CNS that the business with newlyweds didn't start until May. Selling items at a pawnshop is a convenient way to get a certain amount of money in a short time. A small flat can be pawned for about 100 to 150 thousand yuan, a fair enough price that will provide cash the wedding banquet and honeymoon travel arrangements.
One couple at the pawnshop said that they will be burdened with having to pay a large amount of money for the wedding, but their income from red packets they receive from relatives and friends at the banquet will almost make up for the figure. Afterward, they will be able retrieve the flat and car that they pawned.
Other newlyweds go to pawnshops because they are looking for high-class accessories that are sold at much lower prices than in the market.
Zhang just bought a diamond ring for 8,000 yuan. The market price is approximately 15,000 yuan. She doesn't mind that it's not new, as long as she likes it and got it at a pretty good discount.
An insider in the pawn industry said that the popularity might lead to price adjustments for more profits within the affordable range of the newlyweds.
