Tag Archives: Pawn Loans

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.

Pawn Shop to the Stars, New York Loan Company, Reports Holiday Spike In Big Dollar Collateral Loans for Contemporary Art and Pop Icon Collectibles

New York Loan Company specializes in collateral or pawn loans for high-end jewelry, sports memorabilia and other luxury items. However, this year, contemporary art and pop icon memorabilia are turning up at the Pawnshop to the Stars more than ever before. Jordan Tabach-Bank, New York Loan Company’s CEO, reported “Our exclusive clientele is interested in confidential and secure pawn loans for big ticket items, and it is clear that contemporary art and collectibles are the favored pieces to secure them quickly.”

New York Loan Company also boasts an impressive collection of items for sale. The 73 year old pawn shop has a large selection of estate jewelry and high-end watches, as well as unique once-in-a-lifetime items available for purchase to the public at large at “dealer” prices. New York Loan Company’s items recently appeared on NBC’s hit TV show “It’s Worth What?” The show featured a stunning Alan Friedman yellow diamond pendant and chain ($175,000) and a De Beers diamond hourglass ($15,500).

Known as the “Pawn Shop to the Stars”, since 1938 New York Loan Company has offered confidential pawn loans against signed jewelry and watches, including such brands as Cartier, Graff, Tiffany and Co., Patek Philippe, Panerai, Audemars Piguet, and Rolex. Unlike your average pawn shop, New York Loan also specializes in modern and contemporary art, including works by Warhol, Picasso, Hockney, Lichtenstein, and Chagall. Owing to its exclusive 90210 location, New York Loan Company even has expertise in rare Hollywood collectibles such as Emmys and Golden Globes and sports memorabilia. The collection includes championship rings and belts, along with pop icon articles worn by figures such as Marilyn Monroe, Madonna, Elvis Presley, and Michael Jackson.

Tabach-Bank noted, “We take our customers needs for security and privacy very seriously.” New York Loan Company is located in the heart of the New York diamond district. Tabach-Bank added, “For our customers protection, New York Loan Company has an armed guard on duty at all times. All jewelry is stored in our private safe located inside Bank of America’s vault.” New York Loan Company has been featured in the New York Times, Los Angeles Times, E! Entertainment Television, the Wall Street Journal, and Newsweek.

High End Collateral Loans Flourish in the New Economy

 

The 2007 financial crisis, which led to the weakening of global economies and the loss of 8 million jobs in 2008 and 2009 in the United States, tightened the availability of credit for consumers and small businesses.

Since the crisis, the unemployment rate in the United States has remained stubbornly high and the economic recovery has stalled, causing fiscal uncertainty to hit consumers’ pocketbooks and the balance sheets of small businesses.

In this new economic environment, consumers and small business owners have increasingly turned to nonbank sources of credit, such as collateral loans.

 

More Consumers Are Seeking Out Collateral Loans

Collateral lenders provide non-recourse cash loans against items individuals already own.

While retail and other sectors have suffered in the economic downturn, the collateral loan industry has thrived, giving people a low-hassle option for obtaining a line of credit.

Collateral loan businesses specializing in upscale merchandise are especially popular.

New York Loan Company - Jordan Tabach-Bank
Jordan Tabach-Bank, owner of New York Loan Company, a collateral lender in New York, operates a thriving shop that caters to socialites, businesspeople and celebrities in the nation’s most famous zip code.

“We’ve seen a higher volume of business since the recession hit,” Tabach-Bank said. “People are looking for accessible lines of credit right now, and our confidential pawn loans appeal to them.”

The family-owned “pawn shop”, which opened in 1938, provides large collateral loans against fine jewelry, watches and artwork. The shop has been dubbed the “Pawn Shop to the Stars,” for its notable clientele and reputation of providing confidential loans.

New York Loan Company offer “pawn loans” against, purchases and sells luxury goods to the public at large from its discreet location on the third floor of the Bank of America building. Situated one block east of Rodeo Drive, Tabach-Bank’s shop embodies the high end of the collateral loan industry, an increasingly popular market as people seek out new and alternative lines of credit.

 

Collateral Loans Help Small Business Owners

Small business owners, finding it more and more difficult to obtain loans from banks, are using upscale collateral loans to meet payroll and answer other financial pressures. These pawn loans provide business owners a much needed cash infusion to keep their business operating and profitable.

Upscale collateral lenders, such as New York Loan Company, also enable new business owners to get their companies up and running. Would-be small business owners can present luxury items as collateral for a pawn loan to finance start-up expenses without impacting their credit.

 New York Loan Company’s certified gemologists specialize in vintage and modern diamond jewelry, including signed pieced by Cartier and Tiffany and Co, as well as high-end watches, including Rolex and Patek Philippe. This New York institution also lends against other luxury items, including sterling silver flatware, Baccarat and Lalique crystal, as well as modern and contemporary art, including works by Warhol, Picasso, Hockney, Lichtenstein, Miro and Chagall. And, due to its unique 90210 location, New York Loan Company also provides pawn loans against entertainment and sports memorabilia, including awards, costumes, and championship rings and belts.

“We see all kinds of fascinating items come through our doors,” Tabach-Bank said.

But Tabach-Bank believes that it is more than the unique pawn loan offerings that keep clients coming back–it is the reliable and personable business model.

“People appreciate the confidentiality and consistency of our service,” he said. Pawn loan transactions are conducted in private offices, and valuables are kept in a secure bank vault.

“We’ve always offered something unique, and we continue to be recognized as the foremost collateral lender of luxury goods in the United States,” he said.

His shop has been written up in the New York Times, Los Angeles Times, The Wall Street Journal, and Newsweek, among other publications.