What is a Luxury Pawnshop Anyway?

What is a Luxury Pawnshop Anyway?

New York Loan Company is considered a luxury pawnshop, and with 493 pawn brokers in Manhattan alone, it’s an important distinction.

Pawnbrokers have been around for centuries, but the term “Luxury Pawnshop” wasn’t coined until 1938, the year in which Louis Zimmleman founded Beverly Loan Company, the first high end establishment providing pawn loans against fine jewelry, diamonds and watches in Beverly Hills, CA.  In 2013, Zimmelman’s grandson, Jordan Tabach-Bank, founded New York Loan Company, the first establishment providing the same high end pawn services, but this time in New York City’s Diamond District.

So what is the difference between the hundreds of pawnshops in Manhattan and New York Loan Company? New York Loan Company is a collateral lending institution hiring only GIA certified gemologists with expertise in diamonds, estate and signed jewelry, modern and contemporary art, and one-of-a-kind sports and entertainment memorabilia.   New York Loan Company is located in the International Gen Tower on 47th Street and features confidential private offices lined with photographs by George Hurrell and original Andy Warhol drawings; not to mention a showcase full of beautiful jewelry and the MTV Moon-man in the conference room.

Unlike your average run of the mill pawnshop, New York Loan Company typically works with high-end “signed” items, including Cartier, Tiffany & Co., Patek Philippe, Van Cleef & Arpels, Rolex, Audemars Piguet and Harry Winston. Generous loans are also made on modern and contemporary artwork by artists such as Andy Warhol, David Hockney, Damien Hirst, Pablo Picasso, Roy Lichtenstein and Jeff Koons. New York Loan has seen memorabilia ranging from US Olympic Medals, to Emmy Awards, and from Championship Rings to handwritten Presidential notes.

No two loans are similar at New York Loan Company, and the friendly and knowledgeable staff adhere to a strict non-disclosure policy, because discretion is the number one thing that make New York Loan Company, the East Coast’s most elite pawn shop.  

Basically, the term “Luxury Pawnshop” not only refers to the type of high-end pawn collateral brought in, but the type of service received when you step through the doors.