Pawning, what is it?

I never grasped what pawning was, explain like I'm 5.
Pawning is the process by which a person can borrow money in exchange for personal property, such as jewelry, guns, or musical instruments. [1][2] The person wanting to pawn an item will bring it to a pawnbroker, who will make an initial offer. [1][2] From there, the two will begin to negotiate the price. [2] Once an agreement is made, the pawnbroker will give the person money, and set a time period in which the person can pay back the loan with interest. [1][2] If the person defaults on the loan, the pawnbroker will get to keep the item. [1][2] In essence, pawning is a short-term loan designed to be a person's last resort. [2]
The practice of pawning personal belongings to get cash fast is on the uptick, due to the hot reality show Pawn Stars, which documents the doings at a Las Vegas shop. [1]  Pawning is a form of loan, where a pawnbroker gives you cash in exchange for an item, and you have a set time period to repay the loan with interest. [1] If you do, you get your item back; if you don't, the pawnbroker keeps it. [1]  Pawn shops will also give you money for gold, watches, musical instruments, and other items, but they charge very high interest rates. [2]  The word "pawn" comes from the Middle English word "paun", from the Old French word "poun", from the Late Latin word "pedun", from the Latin word "pedem" (foot). [3]