Parents in Thailand pawn luxury items to cover school expenses

[webfact]

Parents pawn luxury items to cover school expenses
Pantipa itrawutthiporn
The Nation

BANGKOK: -- LUXURY items such as Hermes, Gucci and Louis Vuitton handbags and Blythe dolls have been sold at pawnshops nationwide as parents struggle to find money for their children's tuition fees and related expenses for the new school year this month.

The influx of luxury items has prompted many pawnshops to beef up security measures to prevent thefts.

Sitthiwich Tangthanakiat, an executive of Tangthanasin Co, which runs 30 Easy Money pawnshop branches nationwide, said many parents pawned valuables such as gold ornaments, jewellery, wristwatches and information-technology gadgets to get cash for their kids' education.

In the past few years people have also been pawning brand-name bags and Blythe dolls, he said, adding that the popular Blythe models fetched more money as they were easier to sell, while the not-so-popular dolls would get only a four-digit price.

Furby dolls were pawned for between Bt1,000 and Bt3,000 because they were not as popular any more, he said.

The company would buy brand-name bags at appropriate prices according to the brand and the condition and a bag could fetch a five-digit price, Sitthiwich said. He said the fim's customers had increased by 30 per cent so far this month with sales of between Bt1.5 billion and Bt2 billion so far.

Sitthiwich said gold, diamonds and brand-name wristwatches were kept in rooms that could withstand heat from a fire for three hours and were equipped with infrared cameras and a closed-circuit TV system.

"The brand-name bags, Blythe dolls or IT gadgets such as mobile phones, notebooks and tablets are kept in a different room on another floor," he said, adding that security guards were stationed in the front of each branch.

He said customers who pawned valuables either were in financial trouble or wanted money for an investment and would often buy an item back after making a profit.

There was also an emerging trend of people leaving valuables such as diamonds or gold at pawnshops for safekeeping while they were away during festivals, and the company welcomed that business, he added.

Wiwat Kaenchan, the manager of the Prachanubal Pawnshop in Bangkok's Udomsuk area, said almost 100 per cent of items pawned so far this month were gold and jewellery.

The shop would not buy items that were more difficult to sell, he added.

A customer at a Bang Na pawnshop, Wassana Moohuana, said she resorted to using pawnshops because her household expenses were high.

"I mostly pawn gold necklaces because I have many family members to take care of and the economy these days isn't very good," she said, adding that she would redeem items once she had money.

Source: http://www.nationmultimedia.com/national/Parents-pawn-luxury-items-to-cover-school-expenses-30260140.html


-- The Nation 2015-05-15

[cornishcarlos]

Tough choices to be made... Gucci bag or a literate child, mmmmm let me think ?

[SABloke]

Don't Hermes bags start around 150 000 Baht. I doubt the people pawning these items are the real ones struggling.

[trogers]

Even the poor are willing to be poor to uphold face.

I have said, the Thai mentality is that the brand name of the wallet or purse is more important than the amount of money in it.

[Hornell]

What this article doesn't really address is the fact that it is not just those parents rich enough to have Gucci handbags, Hermes head scarves etc who are finding it difficult to meet the seeming ever increasing costs of the new school year. I live in deepest Isaan and so many parents here have real problems finding the money for uniforms, which always seem to be changing, books and various other things including the embroidering of names on garments - an irrelevant and unnecessary expense. Education at whatever type of school at whatever level is by no means free in Thailand and I feel sorry for the poorer parents who have no option but to try to find the money without Gucci hand bags, Hermes head scarves et al!

[jerojero]

Haha ha ha..... Can afford multiple luxury items, but cannot afford child's education. Ya right!

[EricBerg]

... "which runs 30 Easy Money pawnshop branches nationwide,"...

That must be a very appealing name for many Thais...

[LuckyLew]

Common people, having a hermes crocodile bag is far more important than having a child who can read and write. Image is everything 555

[Tatsujin]

A very clear clash of "face" versus "real world" ... it's a very hard thing for a Thai to accept.

The Govt is looking into what Hospitals are charging, the more urgent need would be to look into what these "schools" (and I use the word lightly) are charging for things.

Education should be free (for all) right up until University age (at least). But that would also require an increase in the competence and quality of what is taught and the teachers themselves.

[trogers]

What this article doesn't really address is the fact that it is not just those parents rich enough to have Gucci handbags, Hermes head scarves etc who are finding it difficult to meet the seeming ever increasing costs of the new school year. I live in deepest Isaan and so many parents here have real problems finding the money for uniforms, which always seem to be changing, books and various other things including the embroidering of names on garments - an irrelevant and unnecessary expense. Education at whatever type of school at whatever level is by no means free in Thailand and I feel sorry for the poorer parents who have no option but to try to find the money without Gucci hand bags, Hermes head scarves et al!

They had the money, but never in a large sum, because the tickle of money flowing in gets spent within 24 hours.

Liquor, gambling, sex. Ask yourselves, why in the deepest past of Issan do you still see liquor stores, gambling in the huts in fields, karaoke pubs, etc?

The US don't have a 7-11 in Death Valley.

[Guest]

Even the poor are willing to be poor to uphold face.

I have said, the Thai mentality is that the brand name of the wallet or purse is more important than the amount of money in it.

Really? Just the Thai mentality? ONLY Thai people will buy a luxury item based on brand name?

I am sure this will come as a shock to western world, who have for decades spent fortunes on everything from Rolex to Gucci ... Rolls Royce to Cartier ...

Is there no subject under this sun that you people can not use to paint that Thai people as inferior, stupid and needing to suckle on the teat of the Oh So Wise Westerner to show them the way?

Really? Only Thai people are suckers for brand names/ REALLY?

Please reply back when you have finished your $5 Starbucks.

The flights leave every 4 hours .. feel free to leave anytime.

[Guest]

What this article doesn't really address is the fact that it is not just those parents rich enough to have Gucci handbags, Hermes head scarves etc who are finding it difficult to meet the seeming ever increasing costs of the new school year. I live in deepest Isaan and so many parents here have real problems finding the money for uniforms, which always seem to be changing, books and various other things including the embroidering of names on garments - an irrelevant and unnecessary expense. Education at whatever type of school at whatever level is by no means free in Thailand and I feel sorry for the poorer parents who have no option but to try to find the money without Gucci hand bags, Hermes head scarves et al!

They had the money, but never in a large sum, because the tickle of money flowing in gets spent within 24 hours.

Liquor, gambling, sex. Ask yourselves, why in the deepest past of Issan do you still see liquor stores, gambling in the huts in fields, karaoke pubs, etc?

The US don't have a 7-11 in Death Valley.

But they did build an entire city dedicated to gambling, prostitution, drinking, drugs, and every possible vice in the heart of the DESERT.

VIVA Las Vegas!

Now wait for the punchline ... then made gambling losses TAX DEDUCTIBLE. That is correct. Taxpayers in America support gamblers.

Why don't you put down your "I am so much better than an Issan" megaphone for a moment to undersatnd that it has always been this way for farmers. The working poor in every country in the world are always on the short end of the stick .. and often in a systemic process that enslaves them financially.

"....embroidering of names on garments" ... wow ... What were they thinking? Perhaps the AC went out in their Bentley and they lost track for a moment.

[cornishcarlos]

Even the poor are willing to be poor to uphold face.

I have said, the Thai mentality is that the brand name of the wallet or purse is more important than the amount of money in it.

Really? Just the Thai mentality? ONLY Thai people will buy a luxury item based on brand name?

I am sure this will come as a shock to western world, who have for decades spent fortunes on everything from Rolex to Gucci ... Rolls Royce to Cartier ...

Is there no subject under this sun that you people can not use to paint that Thai people as inferior, stupid and needing to suckle on the teat of the Oh So Wise Westerner to show them the way?

Really? Only Thai people are suckers for brand names/ REALLY?

Please reply back when you have finished your $5 Starbucks.

The flights leave every 4 hours .. feel free to leave anytime.

Don't know where you come from but back in U.K, a chav is a chav, and they don't pretend to be something they are not...

[trogers]

What this article doesn't really address is the fact that it is not just those parents rich enough to have Gucci handbags, Hermes head scarves etc who are finding it difficult to meet the seeming ever increasing costs of the new school year. I live in deepest Isaan and so many parents here have real problems finding the money for uniforms, which always seem to be changing, books and various other things including the embroidering of names on garments - an irrelevant and unnecessary expense. Education at whatever type of school at whatever level is by no means free in Thailand and I feel sorry for the poorer parents who have no option but to try to find the money without Gucci hand bags, Hermes head scarves et al!

They had the money, but never in a large sum, because the tickle of money flowing in gets spent within 24 hours.

Liquor, gambling, sex. Ask yourselves, why in the deepest past of Issan do you still see liquor stores, gambling in the huts in fields, karaoke pubs, etc?

The US don't have a 7-11 in Death Valley.

But they did build an entire city dedicated to gambling, prostitution, drinking, drugs, and every possible vice in the heart of the DESERT.

VIVA Las Vegas!

Now wait for the punchline ... then made gambling losses TAX DEDUCTIBLE. That is correct. Taxpayers in America support gamblers.

Why don't you put down your "I am so much better than an Issan" megaphone for a moment to undersatnd that it has always been this way for farmers. The working poor in every country in the world are always on the short end of the stick .. and often in a systemic process that enslaves them financially.

"....embroidering of names on garments" ... wow ... What were they thinking? Perhaps the AC went out in their Bentley and they lost track for a moment.

Because some of these poor farmers would ask me to buy them a peck of liquor early in the morning before going to the fields.

Yes, I too am a farmer among them and have seen their lifestyles.

[quandow]

Now THINK about this - A country that spends over 6% of its GDP on education and parents STILL have to pawn items to afford tuition?

And the government pawnshops must be making money hand over fist as all pawnshops do.

Something smells awful rotten here.

[maidee]

ahhaaha, so funny

they can buy crappy useless brand stuff, but no money for their kids tuition...

som nam na

[Bakseeda]

What this article doesn't really address is the fact that it is not just those parents rich enough to have Gucci handbags, Hermes head scarves etc who are finding it difficult to meet the seeming ever increasing costs of the new school year. I live in deepest Isaan and so many parents here have real problems finding the money for uniforms, which always seem to be changing, books and various other things including the embroidering of names on garments - an irrelevant and unnecessary expense. Education at whatever type of school at whatever level is by no means free in Thailand and I feel sorry for the poorer parents who have no option but to try to find the money without Gucci hand bags, Hermes head scarves et al!

You Cannot live in deepest Issan ... you are lucky to survive in deepest Issan ... I went there one time ... that is survival NOT life.... Who are you hiding from ? Issan boys don't want to learn, and the girls, well we all know where they end-up..... But just my Farang point of view...

[eeeya]

whould have been good if the article reported on some prices for schools rather than just talking to a pawn shop owner

[marko kok prong]

Even the poor are willing to be poor to uphold face.

I have said, the Thai mentality is that the brand name of the wallet or purse is more important than the amount of money in it.

Really? Just the Thai mentality? ONLY Thai people will buy a luxury item based on brand name?

I am sure this will come as a shock to western world, who have for decades spent fortunes on everything from Rolex to Gucci ... Rolls Royce to Cartier ...

Is there no subject under this sun that you people can not use to paint that Thai people as inferior, stupid and needing to suckle on the teat of the Oh So Wise Westerner to show them the way?

Really? Only Thai people are suckers for brand names/ REALLY?

Please reply back when you have finished your $5 Starbucks.

The flights leave every 4 hours .. feel free to leave anytime.

You forgot the bit at the end about the door not hitting you on the backside,so you are obviously new to the "pack yer bags" brigade.

[JAG]

Even the poor are willing to be poor to uphold face.

I have said, the Thai mentality is that the brand name of the wallet or purse is more important than the amount of money in it.

Really? Just the Thai mentality? ONLY Thai people will buy a luxury item based on brand name?

I am sure this will come as a shock to western world, who have for decades spent fortunes on everything from Rolex to Gucci ... Rolls Royce to Cartier ...

Is there no subject under this sun that you people can not use to paint that Thai people as inferior, stupid and needing to suckle on the teat of the Oh So Wise Westerner to show them the way?

Really? Only Thai people are suckers for brand names/ REALLY?

Please reply back when you have finished your $5 Starbucks.

The flights leave every 4 hours .. feel free to leave anytime.

Bravo bravo, bloody well said!

[Gordy Gambino]

So what is the range of school expenses???

[maprao]

For all mongers this us a good time to "catch " a bargain with a good girl at university. Happy hunting! Yes I am jealous I can't join you;)

[micmichd]

We already have cases where Farangs come to Thailand to pick school girls for later marriage in Europe. Farang students who might want an academic wife later on. But they are far from paying for her education.

I'd call it "brain drain for nothing"

[mikeinbangkok]

As always it is appalling to see all the Thai bashers drooling with this news item. If these T.V.T.B's ( Thai Visa Thai Bashers) care to look into their own "so called" developed countries and societies, you will see the U.S students, as well as many other countries including Australia, are totally abusing the taxpayers money in terms of student loans many of which are not repaid. In Australia, because graduates living overseas don't have to do Australian tax returns, there is no way to know if they are earning to repay loans and many get off scot-free. In the U.S, Seven out of 10 graduates use student loans. In 2012, they left school with an average of $29,400 in student loan debt. According to a report, "So many students are graduating from college with so much debt that they cannot buy homes, threatening the nation's housing recovery and blocking a generation of young people from attaining that first staple of the American Dream.”

It is shameful, to abuse taxpayers money and Government subsidies. I salute the Thai parents for using their own means for the education of their children rather than abusing loan facilities and other social benefits.

[mikeinbangkok]

Even the poor are willing to be poor to uphold face.

I have said, the Thai mentality is that the brand name of the wallet or purse is more important than the amount of money in it.

Really? Just the Thai mentality? ONLY Thai people will buy a luxury item based on brand name?

I am sure this will come as a shock to western world, who have for decades spent fortunes on everything from Rolex to Gucci ... Rolls Royce to Cartier ...

Is there no subject under this sun that you people can not use to paint that Thai people as inferior, stupid and needing to suckle on the teat of the Oh So Wise Westerner to show them the way?

Really? Only Thai people are suckers for brand names/ REALLY?

Please reply back when you have finished your $5 Starbucks.

The flights leave every 4 hours .. feel free to leave anytime.

Bravo bravo, bloody well said!

Very true!

Edited May 15, 2015 by metisdead

[Bluespunk]

"He said customers who pawned valuables either were in financial trouble or wanted money for an investment and would often buy an item back after making a profit.

There was also an emerging trend of people leaving valuables such as diamonds or gold at pawnshops for safekeeping while they were away during festivals, and the company welcomed that business, he added.

Wiwat Kaenchan, the manager of the Prachanubal Pawnshop in Bangkok's Udomsuk area, said almost 100 per cent of items pawned so far this month were gold and jewellery.

The shop would not buy items that were more difficult to sell, he added.

A customer at a Bang Na pawnshop, Wassana Moohuana, said she resorted to using pawnshops because her household expenses were high.

"I mostly pawn gold necklaces because I have many family members to take care of and the economy these days isn't very good," she said, adding that she would redeem items once she had money."

So nothing to do with school at all then?

[trogers]

"He said customers who pawned valuables either were in financial trouble or wanted money for an investment and would often buy an item back after making a profit.

There was also an emerging trend of people leaving valuables such as diamonds or gold at pawnshops for safekeeping while they were away during festivals, and the company welcomed that business, he added.

Wiwat Kaenchan, the manager of the Prachanubal Pawnshop in Bangkok's Udomsuk area, said almost 100 per cent of items pawned so far this month were gold and jewellery.

The shop would not buy items that were more difficult to sell, he added.

A customer at a Bang Na pawnshop, Wassana Moohuana, said she resorted to using pawnshops because her household expenses were high.

"I mostly pawn gold necklaces because I have many family members to take care of and the economy these days isn't very good," she said, adding that she would redeem items once she had money."

So nothing to do with school at all then?

Pawn stuff for investment? No wise investors would borrow short term for long term investments, only gamblers.

[fred Kubasa]

If state agencies were not so high on big budget, unneeded items, ( See hi speed trains, submarines, jet fighters, monuments, etc.. ), maybe some of these huge

sums could be diverted to needy families and children. Tsk, tsk !

[Jeremy50]

Even the poor are willing to be poor to uphold face.

I have said, the Thai mentality is that the brand name of the wallet or purse is more important than the amount of money in it.

Really? Just the Thai mentality? ONLY Thai people will buy a luxury item based on brand name?

I am sure this will come as a shock to western world, who have for decades spent fortunes on everything from Rolex to Gucci ... Rolls Royce to Cartier ...

Is there no subject under this sun that you people can not use to paint that Thai people as inferior, stupid and needing to suckle on the teat of the Oh So Wise Westerner to show them the way?

Really? Only Thai people are suckers for brand names/ REALLY?

Please reply back when you have finished your $5 Starbucks.

The flights leave every 4 hours .. feel free to leave anytime.

Anyone with taste knows how vulgar this brand name tat is. Good taste is something you can never buy, and I've seen little or no evidence of it in this part of the world. Unfortunately we live in a world where everyone wants to walk around looking like David Beckham, and that miserable looking Spice Girl woman. Surely the most vulgar and ostentatious couple on the planet.

[leytonorient]

Common people, having a hermes crocodile bag is far more important than having a child who can read and write. Image is everything 555

The people here are so materialistic. I have seen many instances of Benz and BMW's parked outside of shanty houses or slum apartments.

It is more important for these fools to be seen driving a flash car than to provide a clean safe home for their family.

Welcome to Tardland!