LA Pawn Shop FAQ

+ What is pawn?

A pawn is a form of collateral loan is offered by Pawn shops. The pawn shop gives you cash against your valuables. The pawn shop keeps your valuable item in its custody until the borrower (that’s you) pays back the loan and interest amount back to the pawn shop. In the US a written agreement is signed between the pawn shop and the borrower.

+ Is my Pawned item safe with Jewels on Wilshire?

Jewels on Wilshire only takes temporary possession of the pawned item and keeps it in a secure place until you repay the loan and interest. We also have insurance cover for loss of your items. You will get full payment against your lost items in such eventuality.

+ When can I get my pawned item back?

You can get your pawned item back from jewels on Wilshire when you pay back your pawn loan back.

+ Do I need a good credit score to get a pawn loan?

No. Since pawn loans are backed by collateral you do not need to worry about or even disclose your credit score.

+ Why should I get a pawn loan?

If you have something of value and its quick cash through easy processing you want – you should opt for a pawn loan. If you can wait for a little while and have good credit score bank will suit you better.

+ When will Jewels on Wilshire refuse to return my pawned watch or jewelry?

We may not return the pawned watch or jewelry should you fail to make full repayment of the pawn loan made to you. Under the law such items become the property of Jewels on Wilshire and can be resold.

+ Are pawn shops regulated?

Yes, Pawn shops are heavily regulated in the USA. Both federal and state laws lay down the rules to conduct this business.

+ How much time does it take to get a pawn loan?

Pawn loans are quick and easy way to get a loan against your valuables within 24 hours. Jewels on Wilshire will provide you quick funds without any hassle.

+ Would my credit score be negatively affected if I default on my pawn loan?

No, your credit score will not be affected if you fail to pay back your pawn loan. Nor will you have to file for bankruptcy. You will, however, not get your pawned item back.

+ Will my personal information be shared with anyone?

Strict privacy laws mean that the pawn shop will not share your personal information and other data with anyone other than the relevant authorities.

+ How much loan can I get?

Pawn Loan amounts vary according to the value of the item. By law there is no minimum value set by law, but, state laws lay down the maximum amount. Your loan amount will also be decided based on criteria like how good the condition of your item is and for how much it can be sold for.

+ Can I pawn More than one item?

Yes, you can pawn multiple items with us.

+ When can I get a renewal?

If you do not have the requisite funds to pay back the loan by due date you may apply for a renewal. You only have to pay the interest while the principal amount of the loan remains the same. A new agreement is signed and you get the due date reset for another date.

+ Can I pay back my loan early?

Yes, you can payback you loan before due date and get your valuable pawned item back.

+ How do you determine the value of the item?

We base the value of the item on current appraised value, its current condition and the ability to sell the item. We use research tools that we have at our disposal to determine an item’s value and get you the most money for the item. The amount also varies depending on the type of item – for example, jewelry is evaluated differently than a DVD player. We test all items that we buy or pawn to ensure that it works properly.

+ What is the difference between pawning and selling?

With selling the ownership of the item being sold is transferred to the pawn shop immediately and you get instant cash. In case you pawn – you remain the owner of the pawned item but the pawn shop keeps it in its safe custody until you pay back the loan with interest.

+ Is it safe to buy or sell at a pawn shop?

When you place an advertisement for selling your valuables you may get a lot of unwanted calls. There is also an element of unknown in doing such transactions with complete strangers. Compared to that pawn shops offer a safe reliable and legal way to buy or sell valuables.

+ What can I buy or sell at Jewels on Wilshire?

We buy and sell preowned luxury items like watches, fine jewelry and gold. We offer you the market best rates in Los Angeles for luxury watches and fine jewelry.
Buy your next Rolex, or fine jewelry at rates as low as 50 % below retail price.

+ What do I require to sell or Pawn at Jewels on Wilshire?

You need to be 18 years of age and need to bring your government issued photo ID. We may also require you to prove ownership of the items that you want to sell or pawn. Please bring the original box and receipts - these will also help in valuation of the item.

+ What about stolen property?

By law the customers must provide ID, also the information about pawned merchandise is regularly shared with the authorities. All this means that there is very little chance of stolen property changing hands at pawn shops

+ What types of payment methods do you accept?

We accept cash cheques and credit cards.

+ What are the store timings of Jewels on Wilshire?

• We are open as follows;

• Monday to Friday 10:30 to 7:00

• Saturday 11:00 to 4:00

+ What are Jewels on Wilshire contact details?

• Our Contact Information is as follows;

• Call: +1 (323) 413-2504

• Email: info@jewelsonwilshire.com