Unusual Items that are offered for a Loan
One of the fun things about being a London pawnbroker is the excitement of not knowing what clients are going to bring you. The initial contact, which will be on-line, by telephone, or with the customer visiting the pawnbrokers will invariably throw up discrepancies between the customers expectations and the pawnbrokers view. Over the years, specializing in lending on luxury items, we have seen a vast array of Jewellery and watches. Diamonds of all sizes and colours, Jewellery from Cartier, Graff, Tiffany. Luxury watches Watches from Rolex, Patek Philippe, IWC, Jaeger Le Coultre, Audemars Piguet to name just a few. What we had not seen before was this;
Our first contact on this particular occasion with our client was by telephone and we were told that they had an extremely expensive gold and gem set mobile phone case and that they wished to raise £30,000 short term loan, probably for a month. Now we thought that this was one of those occasions when customers expectations as to the re-sale value of a luxury item and our view would differ. When you think about an i-phone case you don’t automatically think that you will have an item that could be used as collateral for a large pawn-broking loan and nor did we at Hopkins and Jones, we knew that phone cases can be expensive, gold plated, set with crystals, be covered in all sorts of exotic skins. But what turned up at Hopkins and Jones a central London based pawn-brokers, was a surprise.
A solid 18ct gold case, set with emeralds and diamonds started the surprise and then on further inspection we released that it was further set with four major pear-shaped diamonds each of which weighed over 1.50 cts. These four principle stones each had a diamond certificate, the certificate being issued by the Gemological Institute of America, the GIA being the most widely recognized diamond grading laboratory. The accompanying receipt verified that the client had paid £250,000 for the case. We had little concern in offering our client the £30,000 loan that they required.