I Know What Selling Is But What Does It Mean to "Pawn"?


When you go into a pawn shop, whats the difference between pawning something and selling something? (I know sell, but pawn?)
 
Pawn means that you leave a certain item there for a specific time period and they lend you money for the item. Once the specific time period expires, you must pay the money back plus interest or they keep the item.
 
Pawn is like a loan. You leave your item with the pawn shop and he will give you a loan based on the value of that item. He will charge you some amount of interest, and you have a certain amount of time to pay off the loan + interest. If you don't pay off the loan in that allotted time period, the item becomes property of the pawn broker and he will sell it in order to get his money back.
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