Larry's Estate Jewelry & Pawn Inc

Phone: (239) 549-8881

 

FAQ

Ask us and we will answer!

How long do I have to pick up my item after the initial pawn date?

The original pawn contract is 60 days, if a finance charge is made within the initial 60 days the pawn is extended for an additional 30 days.

Can I redeem another individual’s pawn if I have the pawn ticket, the pledgors ID, etc.?

Regardless of you relation to the pledgor the only way to redeem an item that was not pawned by you is to have a power of attorney letter signed by the original pledgor with permission to redeem their pawn ticket. Included in the letter must be the control number of the pawn ticket, your names and I.D numbers as well as permission to redeem the pawn. One letter per pawn ticket must be provided and only original letters will be accepted i.e no faxed letters or copies.

Do most pawn customers lose their merchandise?

On average, 70 to 80 percent of all loans are repaid. Repeat customers make up most of a pawn shop's business, similar to any other lending or retail establishment. Pawnbrokers know the vast majority of their customers because they often borrow against the same items over and over again. Pawnbrokers offer non-recourse loans, looking only to the item being pledged to recover their investment if the borrower chooses not to repay the loan. It is solely the choice of the customer whether he/she elects to repay the loan. Unlike other type of loans if a customer decides not to redeem the item in pawn then the item becomes the property of the pawnbroker and the pawnbroker puts the item out for sale.

How can I be sure the merchandise I purchase from a pawnshop isn't stolen?

Less than one half of one percent of all loans are identified as stolen goods. Thieves and robbers are a pawnbrokers worst enemy. Pawnbrokers work closely with local law enforcement to catch and prosecute these criminals. A customer must provide positive identification at the time of the pawn transaction. This information is then presented to the police department, therefore decreasing the likelihood that a thief would bring stolen merchandise to a pawnshop.

Do I need identification to pawn or sell?

The state requires us to use only a state issued drivers license or state photo ID card as identification each time a customer sells or pawns an item. We may know you personally, but that does not exclude you from showing your identification at the time the transaction is made. We are required to check for updated information on every transaction. A complete description of the customer and all items received by a pawnbroker must be reported to the police daily. They compare pawned and sold property to their burglary, robbery and theft reports.

What is the difference between buying at a pawnshop and buying at a retail store?

Mainly price. Pawnshops can offer you merchandise ranging from 1/3 to 1/2 off retail prices.

Can’t find your question, give us a call!

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