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New York Loan Company Buys Fine Art and Memorabilia

New York Loan Company’s west coast counterpart, Beverly Loan Company, has been in the collateral lending business for over 75 years, loaning against luxury jewelry, complicated watches, fine art, one-of-a-kind memorabilia, and other high-end goods.  Jordan Tabach-Bank, the third generation owner and CEO of New York Loan Company, is also known as the Pawnbroker to the Stars because of his frequent yet discreet dealings with Hollywood’s elite.  In their newly opened Diamond District location in the International Gem Tower, New York Loan Company will concentrate heavily on diamonds, gold jewelry and upscale watches, but will also make loans against and purchase fine art and rare entertainment and sports memorabilia. 

 

Fine art by household named artists (Marc Chagall, Jean Miro, Pablo Picasso, Ed Ruscha and David Hockney) rarely decreases in value, but instead usually increases as time passes.  Pop-art is especially valuable in today’s market and is Tabach-Bank’s area of expertise.  The term ‘pop-art’ is used to describe works made by people like Andy Warhol, Roy Lichtenstein, or Robert Indiana: art that it immediately recognizable in our culture today.  New York Loan also has expertise in street/urban art (Keith Haring, Banksy and Retna) and photography ranging from Ansel Adams to Cindy Sherman. 

 

The most common type of memorabilia involves celebrities (Marilyn Monroe, Elvis Presley and Michal Jackson), athletes (Jim Thorpe, Michael Jordan and Tiger Woods) and politicians (Abraham Lincoln, John F. Kennedy, and Barack Obama), including stage worn costumes, championship rings or even hand written speeches.  Only Beverly Loan Company and New York Loan Company have the expertise to loan against or purchase items of this nature.  

 

Whereas New York Loan Company will deal in any item that is gold because there is intrinsic value in such items, with fine art and memorabilia, they have to be more discerning.  Tabach-Bank explains, “We only loan against the best of the best.  We do not loan against a jersey that Michael Jordan signed, but we will loan against one that is game worn and signed.  Similarly, we will loan against a Basquiat, but unfortunately we cannot loan against up and coming artists who have yet to establish a secondary market.”

 

The experts at New York Loan have years of training and expertise in identifying and pricing artwork and memorabilia, and are committed to treating their clientele fairly and discreetly.  No customer’s name has ever been revealed without their consent throughout Beverly Loan’s Company’s 75 years of business, and that is something that will not change as New York Loan Company’s continues their tradition of excellence.

 

Think about the art and memorabilia you have accumulated throughout the years.  Perhaps some of it has more value than you might have thought.

New York Loan Opens in Brand-New International Gem Tower

 

Beverly Loan Company has been located in the heart of Beverly Hills, California for 75 years, a prime location for Hollywood’s elite to discreetly pawn their luxury items.  So when CEO Jordan Tabach-Bank decided to open a branch on the East Coast, he knew that the location would have to be absolutely perfect. New York Loan Company will be opening its doors in late May in the newly constructed International Gem Tower.  Located on West 47th street in the heart of Manhattan’s diamond, gem and jewelry district, the building will be home to some of the world’s most prestigious traders in diamonds and gems.  At 34 stories tall, the building stands out in the Diamond District, which has remained largely untouched and undeveloped over the last century.  Today the International Gem Tower provides an exciting modern alternative for clients like New York Loan Company.

 

“We are thrilled to make the International Gem Tower our New York home”, said Tabach-Bank.  “The advantages of being located in the heart of New York City’s Diamond District, coupled with the cutting-edge design, security, and technology of the Tower made it an easy decision.  After 75 Beverly Loan found the perfect location for its East Coast counterpart.”

New York Loan will share the tower with prominent leaders in the diamond and gem business such as Dalumi, S. Schnitzer Diamonds, Leo Schacter & Co, Rajwarah Jewelers, Christopher Designs, and Malca-Amit, as well as the Gemological Institute of America, which will move its laboratory and school into the International Gem Tower.  Because the building was constructed specifically for the diamond, gem and jewelry industry, it offers services and amenities that are specific to the trade, like a state-of-the-art vault, valet parking, and the very latest in today’s security technology.  The tower is centrally located near the major transportation hubs of the city and is also located near other prominent mid-town tenants like Barclays, Bank of America, Morgan Stanley and the New York Times. 

The attention to detail and sheer beauty of the building’s exterior makes the International Gem Tower a stand out.  And the modern interior of New York Loan Company’s suite was specifically designed to provide privacy, discretion and comfort for even the most discerning and private client. Private offices with floor to ceiling frosted glass sliding doors ensure confidentiality.  Tabach-Bank said, “New York Loan Company’s will be the most upscale and discreet pawn shop on the East Coast without question.”

What to bring to New York Loan Company when trying to secure a pawn loan?

In today’s credit crisis, affluent Americans are turning to pawn loans as a way to meet their financial needs. Pawn Shop to the Stars, New York Loan Company, specializes in pawn loans – also known as collateral loans – against jewelry, watches, fine art and entertainment/sports memorabilia.

When it comes to securing a pawn loan on high-end or luxury items, savvy consumers provide more information about their collateral than one might think. While New York Loan Company has experienced GIA trained gemologists, and expertise in art and memorabilia, it is always recommended that any item is accompanied by as much documentation as possible. Providing detailed authentication helps borrowers secure the largest pawn loans possible.  

Jordan Tabach-Bank, CEO of New York Loan Company, recommends that his customers bring all related documentation with them when making a pawn loan. “We specialize in making large dollar loans on unique items, so we need as much information as possible about the items that we loan against,” said Tabach-Bank. “Providing provenance, including certificates of authenticity, appraisals, auction records and sales receipts, expedites the authentication process and helps our clients receive the most money for their items.”

For all pawn loans, personal identification is the first and most important item required. Most government issued identification will suffice including a passport, State issued identification or drivers license, a foreign passport with an additional identification bearing an address or a Matricula Consular with an additional identification bearing an address. In addition, New York Loan Company always requires a physical address where notices can be sent.

New York Loan offers pawn loans on fine jewelry and luxury watches, including estate jewelry, diamonds and fine gems. When securing a pawn loan on collateral of this nature, laboratory certifications are extremely helpful especially with respect to high-end diamonds and colored stones. Certifications should be from prominent sources such as the Gemological Institute of America (GIA), American Gem Society (AGS), European Gemological Laboratory (EGL), International Gemological Institute (IGI), Gubelin Gem Lab or American Gem Trade Association (AGTA). GIA is the most common and trusted source for laboratory certifications.

With certain brands such as Rolex, Cartier, Tiffany and Co., Van Cleef & Arpels, Harry Winston, Chopard, Bvlgari, Patek Phillipe, Hublot, Panerai, IWC, Audemars Piguet and Chanel, retaining the original packaging is essential and can have a tremendous impact on the final loan amount.  All original jewelry, watch or fine gem packaging, boxes and documentation can not only be very helpful in determining authenticity but also increase the value of the item – thereby increasing the potential pawn loan amount.

Fine art, especially contemporary or modern, is of great interest to Jordan Tabach-Bank. “The true value of art often relies on its provenance,” he says. “It’s important to provide any documentation relating to your fine art. We need to prove how the artwork got from the hand of the artist to the hand of the borrower.” Documents that support authenticity and provenance include gallery receipts, auction records (Christie’s, Sotheby’s, Bonham’s, etc.), appraisals or certificates of authenticity.

New York Loan Company will also make pawn loans against sports, entertainment or political memorabilia. In order to verify the authenticity of these types of items and guarantee the highest loan amount, it is recommended to provide sales receipts, auction records, appraisals or certificates of authenticity. For sports related items, 3rd party authentication companies such as Professional Sports Authenticator (PSA/DNA), James Spence Authentication (JSA) and Online Authentics are trusted sources. Also approved dealers, such as Upper Deck Authenticated, Steiner Sports, Mounted Memories, Tristar Productions or GT Sports Marketing (GTSM) are valuable reference points to determine authenticity and value. Determining entertainment memorabilia value can be difficult due to the ephemeral nature of these types of items. However, value, history and provenance can be established by providing auction records from trusted auction houses such as Julien’s Auctions, Heritage Auctions or Profiles in History.

The common theme among all genres of collateral is the more documentation the better. Tabach-Bank says, “When in doubt, bring it in.”