General
How do you know how much to loan?
How do you know the items
work?
What is the origin of the pawn shop?
Jewelry
How do you know if a diamond is
real?
Why are colored diamonds more expensive?
Pawn
How does a pawn work?
General
How
do you know how much to loan?
Every pawnshop is different in it's value assesment.
However, most will be between 1/3 and 1/2 of the items
retail value. Sometimes more or less depending on the
demand and the conditon of the item. The better a store
can sell the item the more they will typically loan.
Not all pawn store are the same and price will vary.
Reference books and the internet help find the new retail
for most items.
How
do you know the items work?
All items that we buy or pawn must be tested before
money is spent. Every effort is made to ensure that
it works properly. If we can't test it, we don't take
it. Plus, most of our used items carry a 30 day warranty.
What
is the origin of the pawn shop?
It is from Middle English, ca 1413, derived from the
expression to pawn...
Jewelry
How
do you know if a diamond is real?
In our store, employees have many hours of hands on
training and can normally tell a fake by just looking
at it. All pawnshops and jewelry stores use an electronic
diamond tester to be absolutely sure.
Why are colored diamonds more
expensive?
Colored diamonds are rarer and more precious than the
standard white diamond. They are prized for this and
their unique beauty.
Pawn
How
does a pawn work?
A pawn is another term for a loan. Pawn stores do what
is refered to as a collateral loan. The broker will
loan a percentage of the value of the item to ensure
the borrower will come back and repay the loan. If the
borrower fails to return after a specified time, the
broker will sale the item for the loan plus interest
and fees. In South Carolina a pawn must be held for
90 days before it can be sold. Interest fees are for
every 30 day period from the time of the loan.
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