Talk:Pawnbroker

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This article incorporates text from the Encyclopædia Britannica Eleventh Edition, now in the public domain.
  • "The symbol of a pawn shop in Hong Kong is a bat holding a coin": is "bat" the animal or is it a wooden baton? Anthony Appleyard 22:26, 15 May 2006 (UTC)
  • One of the photographs appears to show a highly stylized flying mammal clutching a coin. J S Ayer 02:34, 25 July 2006 (UTC)

Contents

[edit] Symbols? WTF???

I've never seen a more garbled section in an article. SHouldn't be too hard to fix though. Justinmeister 15:54, 15 August 2006 (UTC)

the information about the hold placed on purchased items is incorrect. i work at a pawn shop in Kentucky, and our police hold lasts only 10 days. i would have fixed it myself but couldn't access that part of the page.

Personal attack removed the 10 day hold on purchased items is not for the whole state, the hold is a law that has been passed by a county or city (such as lexington).

[edit] Interest rates

Can someone check the chinese pawn rate please. The british rate was miles off so I fixed it and added a reference. ---*- u:Chazz/contact/t: 23:34, 2 January 2007 (UTC)

[edit] Police Hold & Reporting

The time of a required "Hold" varies in the United States. 30 days is the norm, but it also can be higher or lower, depending on the jurisdiction and item sold/panwed. All states require a pawnbroker to report everything they take in, be it a buy or a loan. This is cross-referenced against theft reports.

Having worked in a pawn shop, it is very rare to find stolen items. Of those that were found at our shop, all but 2 were stollen by a friend or family member. These are the hardest to validate, because there are rarely police reports filed. In most instances, the thief tells the person where their things are, and police are not involved because of the desire to not prosecute the thief. Real criminals avoid pawn shops because legitimate owners report everything to the police. Less then 1% of pawn shops are "crooked". 75.120.79.138 15:24, 22 March 2007 (UTC)

it's me from kentucky again. at my shop in louisville, the rate for pawn loans was 20%. not that every area needs to have its respective rate listed, but since the discrepancy between the rates is significant, maybe it should be noted that the rates listed are possibly on the low side. i would go ahead and do this, but i am so uneducated about html that i am afraid to muck with the page itself. ~spooky —Preceding unsigned comment added by 74.129.118.105 (talk) 02:10, 23 January 2008 (UTC)

[edit] statistics

Anybody know (for various eras, countries, etc.) what percentage of pawned items are eventually redeemed by the pawner? Doops | talk 04:48, 12 September 2007 (UTC)

 The average rate of redemtion, or items payed for and picked up, is about 75% which leaves 25% to
be sold retail so that the pawnbroker can "get his investment back".
 This rate will vary from shop to shop depending on the "pawnbrokers" decision on how much to loan
on items. If they loan more on a item, the odds increase that the customer will not return due to
a larger amount of money to pay back. 
 A Pawnbroker will usually loan more to a customer that shows that they will pay for their loans.
If a person never pays a loan and continually defaults on the loans then the pawnbroker is
basically buying the goods since they will be converted to inventory eventually.

I do not have verifiable sources on-hand, but I work as a pawnbroker in Kentucky. We assume that 2/3 of the loans will default to forfeit. I am sure this varies by location, time and the varying interest rates of loans, but that's our rule of thumb. —Preceding unsigned comment added by 74.130.50.57 (talk) 21:00, 3 November 2007 (UTC)

[edit] Pawn shops in Asia

The paragraph regarding pawning in India is horribly garbled. I'll do my best with some spelling/grammar fixes, but can anyone clear it up? Jedikaiti (talk) 15:58, 8 June 2008 (UTC)