White Gold Cubic Zirconia Rings

On September 26, Albermarle & Bond Holdings, one of Britain's largest chain of pawnbrokers, announced record profits to year end June 2010, up 34% from the previous year, with a turnover up from £55.5 million to £82 million. The company has 135 stores around the country, increasing at a rate of 25 a year.

A month earlier Britain's other large pawnbroker, H&T, reported a 70% rise in half-early profits. Both companies deal in gold and jewellery – the price of gold, which reached a record high in September of $1,274.75 an ounce, has proved good for business.

First for the City of London

According to a survey conducted by the National Pawnbrokers' Association and published in August, the number of pawnbrokers in the UK has gone up from 500 in 2003 to around 1,300 today. Some 60% of their customers are unemployed, and two-thirds of them are women. But since 2009 financiers have been hocking their valuables, too – in April that year Nikolas Michael became the first pawnbroker to open in the City, London's financial district, in more than a century, and today its website sparkles with jewellery and gold.

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