HOCK SHOP Meaning and
Definition
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A hock shop, also commonly known as a pawn shop, is a type of business establishment that provides instant loans to individuals in exchange for valuable items. These items serve as collateral for the loan, and if the borrower fails to repay the loan within a specific period, the pawn shop has the right to sell the pledged item to recuperate the loan amount. The term "hock shop" originated from the notion of "hocking," which refers to temporarily depositing or pawning personal belongings as security to obtain financial assistance.
Hock shops typically accept a wide range of items for pawn, such as jewelry, electronics, musical instruments, artwork, and collectibles. The loan amount provided is typically a percentage of the item's appraised value. This value is usually determined by an in-house expert who assesses the authenticity and worth of the item.
In addition to lending services, hock shops often function as retail stores, selling previously pawned items or offering new merchandise at discounted prices. Individuals who are not interested in obtaining a loan can also directly sell their belongings to the hock shop, although the amount offered for sale may be lower than the pawned value.
Hock shops have a long history dating back centuries and have served as a vital source of short-term loans for individuals facing financial hardships. Today, hock shops play a key role in providing immediate monetary support, allowing individuals to access funds in exchange for their personal belongings, fostering financial flexibility and economic stability.
Common Misspellings for HOCK SHOP
- gock shop
- bock shop
- nock shop
- jock shop
- uock shop
- yock shop
- hick shop
- hkck shop
- hlck shop
- hpck shop
- h0ck shop
- h9ck shop
- hoxk shop
- hovk shop
- hofk shop
- hodk shop
- hocj shop
- hocm shop
- hocl shop
- hoco shop
Etymology of HOCK SHOP
The term "hock shop" is a colloquial expression referring to a pawnshop or a place where people can pawn their possessions in exchange for a loan. The word "hock" in this context is derived from the term "hockamore" or "hockamoree", which appeared in English in the 17th century. "Hockamore" was a variation of the term "hokamore", used by thieves and criminals in Old English to refer to a pawn or something pledged as security.
Over time, "hockamore" transformed into "hock" in colloquial usage, becoming associated specifically with pawning items. The addition of "shop" to the term gives it the name "hock shop", which has been in use since the late 19th century to describe a pawnshop.
