News – UK – Agadoo singer forced to pawn Rolex after losing his fortune receives tough reality check

Black Lace star Dene Michael went on vacation six times a year and owned a boat, but on a tight budget he must sell his popular watch at a million pound pawn

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Dene Michael had it all in the 80s – but now life has taken a drastic turn downhill

The former pop star of the 80s became famous as a member of the band Black Lace, who became the face for their new party record ‘Agadoo’

Dene replaced original band member Colin Gibb in 1986, sang her iconic tune on tour and starred in another party song, ‘Wig Wam Bam’

At the height of the band, Michael went on vacation six times a year, owned several houses and even a boat

“During my career, I was at the top of the number 2 tree on the charts. I could go on vacation six times a year,” he says of the new ITV series Million Pound Pawn

“I bought nice houses, designer watches, a boat, a Rolls Royce It was so easy to buy what you needed

“It went down a bit after that in the 90s. We didn’t get that much TV. A couple of years of it and it’s going to be soon You just have to realize that it doesn’t take forever”

Black Lace is now made up of two separate groups, including a full-time international band with original member Colin Gibb touring the world as The Original Black Lace

There is also a part-time group in the UK, Black Lace’s Conga Party, consisting of Michael and Craig Harper, runner-up from Got Talent in the UK in 2008

While Michael is still “pushing pineapple” and “shaking the tree”, he’s got into tough times after losing his fortune

In 2016 he was sent to jail for 10 weeks because he was 25Claimed £ 000 in performance after saying he could not walk on stage despite vigorous dance moves

The jailed former pop star previously said he survived behind bars by running 60-man conga lines around the prison yard and singing his hit tunes

Michael runs out of money and is forced to sell one of his most valuable possessions to a Pwanbroker

“I have to bring in some money because all the money is running out at the moment and I just don’t know when I can get the money back,” admits Michael

Kathy is one of the few pawnbrokers in the industry doing business in affluent Cheshire, where Premier League footballers and WAGs live

The industry veteran buys high quality goods from customers looking to sell their assets to make money fast

They also offer fast, high interest rate loans for instant cash with no credit check, but valuables must be used as collateral

During their meeting, Michael reveals that he was a former ’80s pop star and asks Kathy if she remembers some of his famous moves

But they get down to business soon, and Michael reveals that he wants to sell his popular Rolex watch

After Michael had the clock at the MGM Grand Hotel in Las Vegas for almost 4Has bought £ 000 he wants his money back

Much is at stake, but its return on investment will depend on Kathy believing its priceless value can still fetch a great price

Kathy explains that accurate valuations are absolutely important in the pawn industry and consults her business partner and watch expert, Stuart

While the Rolex is real, Kathy is forced to deliver the bad news to Michael that 4000 pounds is “a little unrealistic”

She explains, “As a pawnbroker, when you need to tell the customer that the item isn’t going to meet their expectations, there’s the ‘ooo, how are you going to take this?'”

Kathy admits that she is for 3500 pounds could be sold and is offering the watch for only 2£ 500 to buy as she would have to do the full service and sales work

There is also the possibility of a loan for 1Include £ 500 in cash but Kathy would charge £ 70 a month in interest

“It was a little less than I had hoped, but it’s good to get some money and it will help me pay the bills until next year,” he says

As Kathy adds, “It’s sad when someone’s right up there getting into hard times. He was not only a rich man, but a famous man”

The first episode of this new ITV series pulls back the curtain on the pawnbroker world amid the current economic crisis, telling the story of both pawnbrokers and the people who want to part with their precious possessions

With over a million pounds worth of assets flowing through the hands of UK pawnbrokers every day, there is no way of planning what valuables might come through the door

It’s the second oldest profession in the world, but instead of a dingy backstreet store, they are now dealing with supercars, yachts, and solid diamonds

Where it comes to funding a luxurious lifestyle, having a business owner on the sidelines, or raiding the attic for a rainy day, thousands of Britons turn to their valuables during troubled times

From helicopters to houseboats, designer watches to family jewels, people across the country are sitting on a veritable gold mine of assets

With unforgettable characters, heartwarming stories, and a range of incredible assets, this series will reveal the emotional and financial stakes in the often hidden world of the pawnbroker

Black tip, Dene Michael, Agadoo