It’s pawn shop time in Mexico City

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Lines of customers stretch more than a 100 deep at the main branch of Nacional Monte de Piedad, Mexico’s national pawn shop this week. There’s three busy seasons for quickie loans in this credit-starved country: the Christmas holidays, back-to-school week in the fall and spring break.

About 30,000 people came by Monday, said Gustavo Mendez Tapia of the flagship branch in Mexico City’s main square. Nearly everyone brought jewelry; a handful had appliances. They’re loaned about half what an appraiser figures it could be sold for. Why now? It seems every year a lot of folks splurge on Easter week vacations that end up costing a lot more than planned.

Hustlers lurk outside the main entrance and offer their own bids. “I’ll give you the best price,” said one man. When shown an L.A. Times-issued Blackberry, he turned up his nose. “Nobody wants those,” he said. “How about your watch?”

Posted by Sam Enriquez in Mexico City