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The ultimate How to Pawn Guide

Fear of the Unknown

I myself can be a very sceptical person about many different things. When my parents said to me that I was old enough to have my own Bank Account with my own Bank Card I was naturally excited, because now I can be more independent, buy what I want and not have to rely on others too much anymore. Yet I was sceptical at the same time,
Back then, I was sceptical of the bank, thinking that they can track my every move or transaction I do with my card and how often I use my card and that they make so much money off people etc..
When now being much older and way more chilled out, I could never live one day without my cheque and or credit card along with the internet banking app on my phone.

It’s crazy how we are always scared of what we don’t understand.
Many people are very sceptical about many different things and one of them is the Pawning Industry. As this can very often be a grey area to speak about, I went on a mission to find some articles, read, study up and meet some people who run these businesses. In this article I am also eager to learn and experience what may be going on inside a world where people are often afraid of – yet a world that these people may have to turn to when the weight of a temporary Cash flow problem is too much to carry.

What is Pawning?

In very basic terms, ‘pawning’ is depositing an object or an item with a Pawnbroker as security for money lent. Essentially – a person goes to the Pawnbroker needing a short term cash loan. This person brings an item, say an item of value or a piece of jewellery.

The pawnbroker will then lend this person a Cash Amount while the pawnbroker safely locks away the item pawned. When this person has got the money back and pays the pawnbroker back in full with a small bit of interest, the item goes straight back to the person, simple as that.

The pawnbroker offers Secured Loans to people, with items of personal property used as collateral.
Now it sounds super simple and that’s great although which pawn broker does one go to? How do you even find these guys and know that you can trust them?
I have felt awkward moments or awkward silence come about when someone in a group chat or at a party mentions a pawn shop or getting a temporary cash loan from a pawn dealer. It seems like this secret word that is said and then everyone immediately gets weird or something.

Why is that?

Do we fear what we don’t understand? Hhhmm. I’m sure that there are people out there who like me have been through some rough financial stresses or even just a short term cash flow problem. Its ok, we have all been there!
Some people take out loans at banks or go into their credit cards and overdrafts etc (All of these come with crazy high interest). It is sad that life gets to this sometimes but bottom line is that it is life – it happens.

I recently found quite an awesome story from the history of pawning which speaks about a legacy to one of the most generous human beings to have ever walked the earth.
The patron saint of pawnbrokers, Saint Nicholas was known for his benevolence. In one instance, he rescued the three daughters of a poor man from becoming prostitutes by giving him three bags of gold to provide dowry for them to be married, hurling the sacks through a window at night to save them from that terrible life!
Isn’t that cool? Legend has it that the Universal Symbol for Pawning, which is three gold balls comes from this story of Saint Nicholas giving the poor man three bags of gold to save his daughters. Cool right?!

The International Pawn Sign, three Gold Balls.

The International Pawn Sign, three Gold Balls.

Interesting Pawn fact

Ever wonder where the name “pawn shop” came from? The word “pawn” originated from the Latin word “platinum”, which means cloth or clothing. Also, it comes from the French word “pan” which means skirt or blouse. In the early civilizations, the only main asset that people could trade with was their clothes. So, they pawned their clothing in order to borrow or loan some money!

What can I Pawn?

The general answer to this question is pretty much anything you want! With the exception of family members, pets etc ?

At Perfect Pawn we always act with our client’s best interest at heart. We want to be the difference in this industry; we want to be the guys to change the negative stigma that the Pawn Industry may carry.

We buy all assets such as Boats, Jet-ski’s, Cars, Motorbikes and Trailers and we will pawn any of these assets for Cash. We will even Buy Unwanted Industrial Equipment and Farming Equipment. If you have any items or assets that are lying around and not in use, we will buy these for Cash.

As mentioned briefly earlier, we all go through financial stresses. Some people resort to having to sell their car for the best cash amount they can get and either try and buy an older car or catch lifts etc. At Perfect Pawn we will loan you the needed cash against your car, and as soon as you have managed to get the loaned amount back – you come and collect your car from our security guarded facilities. Simple as that!

Take a quick look through one of our Simple and Professional Pawn Agreements.

If you would like some more information on Perfect Pawn, Contact Us Now and one of our Consultants will Call You Back!

In the series of articles to come, we will be addressing topics, exploring the industry and answering any questions or concerns.

We would love you to get involved in our conversation!

Till next time…