Luxury Items Not Popular in Recession

With the gloomy economy and recession blues, pawnshops are now doing brisk business. Many people have started to bring in their valuables like gold and gems to pawn. However, second hand luxury stores are are hit by the recession wave and not doing as good business as Pawn Shops. They are receiving more than the usual luxury watches like Rolex. However, the second hand Rolex is not very much in demand now as new ones are selling at lower price compared to previously.

So, luxury items are not very much welcomed in second hand stores. People are not looking for such items to buy anymore and are getting very cautious about their purchase now.

Singapore is the first country in Asian that slip into recession recently. Business has drop generally as few people are buy.