Wealthy people looking to fund new ventures are turning to their Rolexes and art collections as collateral for quick and easy loans from high-end pawn shops. Business owners say the trend points less to financial distress and more to customers eager to seize money-making opportunities. Wealthy people looking to fund new ventures are turning to … Continue reading The wealthy are using pawn shops to finance their business ideas →

The New York Loan Company sells items like $30,000 Hermes Birkin bags and fine jewelry. Its professional staff and tight security make it unlike any other pawn shop experience. They promise their clients absolute confidentiality. The New York Loan Company isn’t your typical pawn shop. Your fingerprint must be taken before you can access the … Continue reading Inside the pawn shop where Wall Streeters and other New York elite sell their Rolexes and Birkin bags →

After she lost her job, Angela Rivers found herself in need of some quick cash. Instead of heading to her bank, she delved into her Brooklyn closet. An avid shoe and handbag collector, she took out her cherished chocolate brown Birkin and went across the river to Manhattan, where she had an appointment in the … Continue reading A Birkin Bag in the Box Is Worth a Lifetime of Debt →

There are 8 million stories in the naked pawnshop. There’s the bling put up by a beloved Knick before his death; an MTV Award presented to a world famous rapper; a 1976 World Series trophy awarded to a minor cog in the Big Red Machine; and a $45,000 watch put up by the girlfriend of … Continue reading From Oscars statues to a killer’s bling: The mystique of city pawnshops →

Strapped for cash? This luxe Diamond District store pegs itself as an “upscale collateral lender,” and indeed owner Jordan Tabach-Bank’s private suite is tastefully decorated, its cream walls adorned with clips from Crain’s and other econ rags Read the full article: http://www.timeout.com/newyork/shopping/new-york-loan-company

BEVERLY HILLS, Calif., Jan. 6, 2015 /PRNewswire/ – Jordan Tabach-Bank, CEO of two luxury pawn shops, Beverly Loan Companyand New York Loan Company, anticipates a record-setting year for asset-based lenders focused on high-end items, particularlydiamond jewelry and fine watches. Photo – http://photos.prnewswire.com/prnh/20150105/167057LOGOPhoto – http://photos.prnewswire.com/prnh/20150105/167058 “Our business has records dating back to the 1930s and pawn loans have become a mainstream financing option for the … Continue reading Pawnbrokers to the Stars Predicts a Banner Year for Collateral Lenders →

Hard up for cash and need a fast loan? There are pawnbrokers all over Greater New York who will take your gold, your diamonds, even your car. And two are willing to take your Mouton, your Petrus and your Domaine de la Romanée Conti. Both Borro Co. and New York Loan Co. have added fine … Continue reading Uncorking the City: Pawning the Petrus →

Traditionally, pawn shops have been the last stop for people desperate for cash. But now there’s a small but growing group of pawn shops for the wealthy. Actor and model Regi Huc needed $75,000 in a hurry last year. He was making his first feature film, and needed to do re-shoots before the deadline to … Continue reading When The Wealthy Need Cash, Pawn Shops Can Be Appealing →

Tensions are mounting between the pawn business and city police. Marc Kaye had to do something drastic when his children’s tuition bills at Columbia and Harvard came due just as his consulting business hit a dry spell. So he pawned his Picasso. An art collector, Mr. Kaye brought a sketch by Pablo Picasso with the … Continue reading Pawnshops for the wealthy →

In an era of tight credit and a recovering economy, well-heeled borrowers face problems, too. Wall Street bankers need cash before the bonus check arrives. Heirs face estate-tax bills. Small-business owners have to pay for inventory up front. Pawnshops that cater to affluent clients are opening new outlets to fill the niche. The firms make … Continue reading Where to Pawn Your Warhol →