PHUKET may be one of Thailand's wealthiest provinces but there are plenty of people on the island who need quick money to survive.
And this year, the word from the local pawn shops is that there are signs of a slowing economy on the island.
It's peak season at the pawn shops right now. More people are coming with items to hock than at any other time of the year.
And the reason for that? The children of the island's working people (or, in some cases, not-working people) are going back to school.
Some start on May 12, others are already back at school, and some go back a little later.
Even the poorest family on the island wants the children to look as neat as their neighbours.
So for many, a visit to the local government pawn shop, or the vast number of private ones, becomes essential if they are short of cash or down on their luck, or both. More are this year than usual.
Visitors to the island would be surprised to learn that some of the children who look so well-groomed at school in spotless uniforms and shiny shoes come from homes where it isn't easy to make ends meet.
One term of private schooling for an eight-year-old can cost 18,000 baht and government schools are not free, either. Books and uniforms come on top of fees.
According to Pataranut Woramid, manager of the tessaban-backed Pawnshop Phuket in Phuket City, an extra 50 million baht more than normal is to be loaned in April-May this year, most of it to anxious parents.
''Many people come because they need the cash,'' he said. ''Our shop alone has 5000 people visit in an average month.'' Up to five million baht a day changes hands.
In April and May 2007, a total of 13,540 people pawned items at the government store alone and took away 146,627,400 baht.
Khun Pataranut said that this year, more people were coming than last year, an indication that the island's economy was not flourishing as many claim.
Gold necklets and rings, mobile telephones, DVD players, television sets, watches and computers are the items most people hock when they need quick money.
''This is a very busy time because parents like to make sure their children have everything they need for school,'' Khun Pataranut said.
Goods valued at under 5000 baht are charged interest at 0.75 percent a month while goods above 5000 baht are charged at one percent. Miss a monthly payment and your goods are gone.
Unredeemed goods are sold at public auction item by item once each month, with bids written on pieces of paper and submitted to the auctioneer.
Khun Pataranut says the government pawn shop tends to be more sympathetic and understanding when people struggle to repay what they owe. Part-payments are sometimes acceptable.
The tessaban-supported pawn shop is in Komarathat Road, which runs between Thepkasattri Road and Yaowarat Road, near Wittayasatit School.
And this year, the word from the local pawn shops is that there are signs of a slowing economy on the island.
It's peak season at the pawn shops right now. More people are coming with items to hock than at any other time of the year.
And the reason for that? The children of the island's working people (or, in some cases, not-working people) are going back to school.
Some start on May 12, others are already back at school, and some go back a little later.
Even the poorest family on the island wants the children to look as neat as their neighbours.
So for many, a visit to the local government pawn shop, or the vast number of private ones, becomes essential if they are short of cash or down on their luck, or both. More are this year than usual.
Visitors to the island would be surprised to learn that some of the children who look so well-groomed at school in spotless uniforms and shiny shoes come from homes where it isn't easy to make ends meet.
One term of private schooling for an eight-year-old can cost 18,000 baht and government schools are not free, either. Books and uniforms come on top of fees.
According to Pataranut Woramid, manager of the tessaban-backed Pawnshop Phuket in Phuket City, an extra 50 million baht more than normal is to be loaned in April-May this year, most of it to anxious parents.
''Many people come because they need the cash,'' he said. ''Our shop alone has 5000 people visit in an average month.'' Up to five million baht a day changes hands.
In April and May 2007, a total of 13,540 people pawned items at the government store alone and took away 146,627,400 baht.
Khun Pataranut said that this year, more people were coming than last year, an indication that the island's economy was not flourishing as many claim.
Gold necklets and rings, mobile telephones, DVD players, television sets, watches and computers are the items most people hock when they need quick money.
''This is a very busy time because parents like to make sure their children have everything they need for school,'' Khun Pataranut said.
Goods valued at under 5000 baht are charged interest at 0.75 percent a month while goods above 5000 baht are charged at one percent. Miss a monthly payment and your goods are gone.
Unredeemed goods are sold at public auction item by item once each month, with bids written on pieces of paper and submitted to the auctioneer.
Khun Pataranut says the government pawn shop tends to be more sympathetic and understanding when people struggle to repay what they owe. Part-payments are sometimes acceptable.
The tessaban-supported pawn shop is in Komarathat Road, which runs between Thepkasattri Road and Yaowarat Road, near Wittayasatit School.
