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Pawnshop 101: Basic Things to Remember when Pawning an Item PowerPoint PPT Presentation


By reading this short guide, you will learn the things about how pawning works. Check out our website at http://www.goldbuyersmelbourne.com.au

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Pawnshop 101: Basic Things to Remember when Pawning an Item

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Pawnshop 101 basic things to remember when pawning an item

HOW DOES

PAWNING WORK

THINGS YOU NEED TO KNOW BEFORE PAWNING YOUR GOLD


Pawnshop 101 basic things to remember when pawning an item

With the global economic downturn, a lot of people have lost

their jobs and experienced financial difficul?es. That is why most

of them resort to pawning their valuable possessions, such as gold

jewellery to cover their daily financial needs. Although, pawn

shops are a reliable business that serves people from all walks of

life, a lot of us s?ll have no idea what pawn shops do and how

pawning actually works.

Although you can easily walk away with cash in your wallet, you

need to learn how pawning transac?ons work before you head off

to the nearest pawn shop in your local area.

Here are some crucial things to keep in mind when taking out a

loan from a pawn shop.


Pawnshop 101 basic things to remember when pawning an item

HOW PAWN

TRANSACTIONS WORK

Customers vouch their valuable items such as gold and other jewellery, as

collateral for the loan. By the time the customer is able to pay their loan in

full amount, interests included, the pawnbroker returns their merchandise.

In case the customer fails to pay the loan in a specific length of time, the

pawnbroker has the right to sequester the merchandise. The seized item will

be sold to retail consumer at a value price.

www.goldbuyersmelbourne.com.au


Pawnshop 101 basic things to remember when pawning an item

HOW DO I DETERMINE

THE VALUE OF MY ITEM?

Pawnbrokers assess and determine the

value of your item using research tools

that tell them the item’s current

condition.

However, the appraisal process can be

different with regards to the type of the

item. Pawnbrokers test all items that

are being pawned to ensure that they

are genuine and not fake.

www.goldbuyersmelbourne.com.au


Pawnshop 101 basic things to remember when pawning an item

WHAT ABOUT THE INTEREST RATES?

WHAT ABOUT THE INTEREST RATES?

The interest rates offered by pawn shops can differ from one

state to another. If you decide to pawn at Melbourne’s most

trusted dealers like www.goldbuyersmelbourne.com.au, you

can loan your valuable jewellery as much as $20,000, and

with interest rates as low as 1.5%. Thus, the interest rate of

pawning your valuable items is more practical compared to a

bank overdraft fee or a credit card fee.

www.goldbuyersmelbourne.com.au


Pawnshop 101 basic things to remember when pawning an item

SHOULD I WORRY

IF I FAIL TO

REPAY THE LOAN?

Since the loan is based on collateral, failure to pay your loan will not

affect your credit score. This is because the loan is considered fully

paid even if you do not repay the loaned amount. Your collateral is

seized and handed over the pawnbroker.

www.goldbuyersmelbourne.com.au


Pawnshop 101 basic things to remember when pawning an item

Pawning your items is a quick,

easy, and hassle-free solution for

your short-term financial needs.

However, you should be wary

which pawn shops to trust. Aside

from offering you quick cash and

low interest rates, they should be

able to store your items safely

during the duration of the

pawning contract. Only then you

can be rest assured that your

items are in good hands and that

your collateral will remain yours

during the contracted length of

time.


Pawnshop 101 basic things to remember when pawning an item

www.goldbuyersmelbourne.com.au

Level 11, Office 1102 227 Collins

Street Melbourne VIC 3000

1800 22GOLD (4653)


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