The pawnshop is a loan based on the deposit, by the beneficiary, of an object of a certain value given as security for the amount loaned.
Principle of the Pawnshop
Appeared in Europe in the middle Ages, the pawnbroker is a monopoly of Credit municipal, created in 1918 and itself born of the old “Monts-de-piété” inspired by the Italian system and which appeared in France under the reign of Louis XIII (1637). This is a form of credit that allows you to obtain money against the temporary delivery of an item.
Reversal of fortune, temporary difficulty, debt to be paid off quickly, taxes to be paid, etc., the pawnshop is a quick solution to obtain money for those who do not wish or cannot go through a bank loan. Against the provisional deposit of a valuable object, anyone can get money quickly and with minimal formalities. The installation procedure is very simple and involves three stages. The Pawn shop Melbourne is the best option in this case.
Go to a Credit Municipal branch with the object to be pledged: there are more than 40, spread across the country. Depending on the nature of the object to be pledged (work of art, etc.), it is prudent to telephone to make an appointment for the expertise.
Expert appraisal of the object: an evaluation of the value of the object will be carried out by an appraiser based on its second-hand value. The evaluation is made according to the composition, its weight (if the object is made of precious metal), its brand, its condition, its age, its rarity, etc.
For certain objects (particularly luxury watches and leather goods, but also contemporary works of art), it is essential to produce:
- The guarantee certificate mentioning the serial number or the reference;
- The purchase invoice containing the same information (make, model or reference and serial number).
Note: the sum loaned generally represents 50 to 70% of the estimated value of the object.
Establishment of the pawnshop contract: for this, the borrower must produce an identity document and proof of address (EDF invoice, telephone).
The loan is materialized by the establishment of a registered contract or “Collateral receipt”. This document must then be presented at all stages of the loan and for each operation. The borrower has no fees to pay when establishing the loan. Find out more about it now.
Gold Pawn Shop
Furthermore, usually in gold lending contracts the price of the bars is indicated in US dollars, even if the consideration to be paid to the bank will be in euros. This is a factor that should not be underestimated as the euro-dollar exchange rate could vary considerably from one year to the next, carrying a significant risk on potential estimated earnings.
Physical gold can be bought from most local banks. In the meantime, buying gold can also be done conveniently online. Look here at vendors who have been in business for a long time and compare prices.
Store Physical Gold in the Safe?
Most banks now offer the storage of gold in a bank vault, including insurance. Advantage: The safe can also be used to store documents or other valuables.
Many gold dealers offer the option of keeping the gold purchased in their vaults for a fee.Your own safe at home should be permanently installed for security reasons. Additional costs for insurance and transport may arise here.