Is it just me, or are there more pawn shops nowadays? They seem to be everywhere, and new ones seem to pop up all the time. Perhaps it is a symptom of the current economy, where the cost of living is sky-high and personal electronics are compulsory.

I recently visited a local mall and came across Entertainment Exchange, a UK-based pawnbroker. It is similar to Cash Converters, the pawnbroker from Australia, but it is much more selective, focusing on personal electronics and video games.

I was told that the branch I went to was not even the first one in Malaysia. And the company plans to open more branches soon.

I find that the trade-in prices are fair, and the prices of the second-hand stuff for sale range from bargains to not far from the retail price. The folks behind the counter are meticulous with everything that comes in. They ensure everything works when they take anything in, and the items are priced appropriately when they go out.

Also, sellers can get more value if they trade in for store credits instead of cash.

One of them told me that an autonomous drone is the weirdest item they have ever traded in. They said they had to take it home to test it because the mall had no space to fly it.

Regarding testing, those working at Entertainment Exchange are given manuals to follow. This means that they can adapt to new gadgets as they come along.

Speaking of new gadgets, there are some protocols that they have to follow to avoid cheating. For example, I was told that many folks go to the shop to dump the free stuff they get from buying personal electronics. Entertainment Exchange requires sellers to provide receipts for specific items, especially new ones, to avoid becoming a piggy bank and a dump.

I was told that some branded phone store staff would even try to dump stock there to make a quick buck.159

It just shows that if those device makers were really serious about the environment, they’d stop dumping stuff they can’t sell on consumers as gratuity gifts and give us discounts instead.

I might be returning to this shop to look for bargains occasionally, and I’d recommend the place to those looking to sell their old devices. It gives better rates than places like Carousell, and you don’t have to deal with pedantic buyers.

Strangely, Entertainment Exchange only pays in cash for anything under RM3,000; otherwise, it’s a bank transfer. I’d thought that having so much cash at hand would be much more riskier, but perhaps accidentally transferring too much money is far more dangerous to them.