AND PAWNING INQUIRIES
WE PAY CA$H
The following section relates to our business and how we trade with
regard to the laws of South Australia which have been changed. (1st March
1998). Remember, not all pawnbrokers are the same. Ask a pawnbroker about
how he trades and his terms before you use him. Some are better than others
but, then again, so are some customers.
YOU WANT TO PAWN OR SELL YOU WILL NEED...
These goods are not yours and it is a criminal
offense to pawn or sell them. If you do sell any encumbered or
stolen good to a pawnbroker not only will you be charged with fraudulent
conversion or dealing in stolen goods but the pawnbroker will have you
charged for falsely representing the goods as yours. The law can also apply
a penalty of up to $10,000 for using false ID or making false statements
to a dealer. He may also hire a Commercial Agent to recover his money.
It can get pretty heavy.
SUITABLE GOODS OF VALUE. As with a bank, pawnbrokers
need collateral for a loan. You must pledge an item of value for
a loan. The value of the loan is based on the RESALE, SECONDHAND VALUE
of the item, NOT the new price, which is where most pawnbrokers have problems.
There are some item which cost a great deal of money new but, as a specialized
item, they are extremely difficult to sell and so attract a low value.
There are also very popular items that attract a high price, so the loan
you you get is much closer to the new price. Just remember, to a pawnbroker
goods of value mean more than a thousand words. We have heard it all before.
After 15 years in this business, you can become a bit cynical. The customer
is not always right.
IDENTIFICATION: The identification requirements have been increased to
a level where if you don't have photo identification , you will need a
great deal of other identification. Most importantly , you will need at
least ONE PIECE OF GOVERNMENT ISSUED I.D.
IF WE ARE NOT SATISFIED WITH YOUR ID, WE WON'T DO BUSINESS....
Photo ID inc. drivers, boat or gun license.
Proof of age card.
Other issued Government ID e.g. Commercial Agents license
Bills or accounts with your name & address in conjunction with any
of the above.
Other recognized identification.
Basically bring as much as you have.
If you have the original receipt, bring it, as it generally ensures more
Have an idea of how much money you want or need.
The goods you offer must be owned by you and free
of debt. ABSOLUTELY NO...
Rental or rent to buy.
12 months interest free.
Mobile phone contracts.
Any other encumbrance.
If you think a pawnbroker is an easy mark, think again,
because most of us have seen it all and can generally smell a rat within
the first 5 seconds. Make no mistake about that. We
actively cooperate with the police. No self respecting pawnbroker
will jeopardize his reputation or his business by knowingly dealing in
stolen goods. For me, my business is worth a hell of a lot more than a
couple of suspect TV's.
We are obliged by law to hold all Second Hand goods for 10 days
before we can do anything with them. This should give the authorities time
to check our register with their DATA BASE of stolen goods.
The other side of the coin is that if you do the right
thing by your local pawnbroker you will generally find him to be be a honest,
straight forward business man with a family and feelings, that is prepared
to stretch the point with a good customer.
terms... these apply mainly to pawnbroking
as the rest is pretty self explanatory.
As pawnbrokers we can only lend money on goods
left with us as collateral (the pawn or pledge). This is our security and
is valued according to the second hand market. Our terms are...
We charge 20% per calendar month or part thereof, on the amount borrowed.
We charge a $3 contract fee.
Items a generally pawned for 1 month, however, longer terms can be arranged.
We will lend from $1 to $20,000 with adequate security.
We are insured, however if you are concerned, please arrange your own.
At the end of the loan period, or before, your options are...
If you do nothing, we will hold the goods for our substantial "period
of grace", but eventually we will sell them.
To pick up your goods buy paying the amount borrowed and the charges.
To renew the contract by paying the previous months charges.
To renew the contract and reduce the loan by paying the previous months
charges and any extra amount against the money borrowed (this reduces your
charges next time).
If you can't do any of the above, speak to us and we'll try to come to
some sort of arrangement.
| AUCTIONS |
SELL LEND |
PLACE | TOP
88 THE PARADE
NORWOOD SOUTH AUSTRALIA PH