Posh Pawn

[farrowandbawl]

What the bloody hell?

Pawning Bentleys for loans? If they could afford the Bentley - why couldn't they get a loan from the bank? or sell the car?

I know, I'm confused why use a pawn shop not an auction or private sale?

Why pawn a huge ruby to set up a shop? I thought the idea was you buy it back at some point, what's the benefit to the pawnbroker?

Sorry OP not overly helpful, I've just asked more questions

I'ts ok Nicky. I've come to the conclusion of "More money than sense".

I just watched it, imagine having a ruby like that and not knowing how much it was worth, she mustn't have had it insured. The pawn brokers make money on the interest they charge and I think if the item is not bought back within a certain amount of time they keep it and can sell it to the highest bidder. I was delighted about the handbag, the poor woman had such money worries and had £15000 worth of handbag in her sitting room, she thought it was fake, to be honest I probably would too.

What I don't understand is how someone finds themself owning a Birkin bag without knowing if its real or not. She obviously didnt buy it, so it must have been a gift but bloody hell, a 15k gift!?!?

Birkin bags are more expensive second hand than from actual shop due to shortage of supply from actual shops. My guess is it's 15k second hand but might have been less from the actual shop.

There's a whole industry in buying Birkins and selling them on for a profit...

The reason they use pawn shops is usually because they can't get credit / any more credit from banks. Usually they intend to get their original item back after they have paid the loan off. However I think many of the people chosen for this programme were slightly unusual customers which definitely made for an interesting watch!

The ruby was so beautiful. Appreciate that needs must, but what a shame to risk losing such and heirloom.

There are actually quite a lot of posh people with expensive jewelry/watches using pawn shops. Not sure why. My mum went to one posh pawn shop, and this well-dressed, posh woman came in with bags full of very expensive (think Cartier) stuff...

PS: And they never seem to actually pay it off?!? My mum loves to just go there and ogle. Apparently, they look like posh jewelry shops, some of them.