FAQ

Frequently Asked Questions: About Pawn Loans, Buying From a Pawnshop, & Selling To a Pawnshop

Question: What exactly is a pawnshop?

Answer: A pawnshop is a licensed lending institution within the State of Texas. Pawnbrokers lend money on merchandise that is left as collateral. The interest rates are set by the Texas State Legislature. Pawnbrokers in Texas must pass extensive background checks and all employees are required to apply for a pawn license. Pawnshops also purchase items from the public and other dealers for resale.

Question: Why would someone go to a pawn shop to get a loan rather than a bank or a payday loan service?

Answer: We offer customers a quick, convenient and private way to borrow money. Customers can get an immediate cash loan without a credit check or impact to their credit report – unlike other lending institutions or payday loans.

Question: What happens if a customer doesn’t return to reclaim their item?

Answer: Around 80 percent of our customers repay their loans and return to reclaim their items. If a customer defaults by not repaying the loan, the merchandise becomes the property of the pawnshop and the item is placed out for sale. A pawn loan period is one month plus a thirty day grace period. As long as the interest is paid each month, the loan remains active. All details of the loan are fully discussed and a detailed receipt prepared at the time the loan is made. Most of our clientele are repeat customers.

Question: What do I need to make a loan on my merchandise?

Answer: You will need a state issued ID (any state) or a passport (any country). This is a state law and there will be no exceptions. You must be the owner of the property being pawned or sold.

Question: How do I know that what I buy isn't stolen?

Answer: We work closely with the Houston Police Department to identify stolen property. Every week, we submit copies of every pawn ticket and buy ticket to the HPD. These tickets include serial numbers and descriptions of the items.

Question: Why should I buy at a pawnshop instead of at a traditional retail store?

Answer: Since our merchandise is previously owned, our prices are significantly lower than retail. We refurbish our jewelry and guarantee our merchandise.

Question: How do I make a loan or sell my item?

Answer: Bring your item into the store. We will evaluate its secondary market value and make you an offer. From there, the choice is yours. We are not able to make offers over the telephone or via email. We must evaluate your item in person to evaluate the condition and whether it fits our inventory.

Question: What do you buy?

Answer: Fine watches, diamonds 1 carat and above, jewelry, broken gold, sterling flatware, antiques, furniture, artwork, precious gems, designer handbags, fur coats, high-end audio – if it fits our inventory, we buy it. Unfortunately, we are not able to make offers over the telephone. We must see the item to evaluate the condition.

Question: If I take a loan on an item, will my merchandise be safe?

Answer: Absolutely. We are licensed by the State of Texas and fully insured. All jewelry loans are placed in tamper-proof bags and placed in a state-of-the-art security safe. All other items are placed in our vault and are not shown to the public.

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Hours of Operation

Mon.-Fri. 10 am to 6 pm
Saturday 10 am to 4 pm

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