How long have you been in the pawn business?
We have been operating in the pawnbroker and loan business in the Los Angeles area since 1948. Our decades of experience in gold buying and collateral loans and our attractive location make us one of the preferred pawn shops in the city.
Are you licensed and insured?
Yes, we are a BBB business that is fully licensed, bonded, and insured.
What items can I pawn?
There is no definitive answer to this question as we assess every single item on its individual merits with the aim of helping everyone where possible. The main items are usually jewelry and other antique goods, but depending on when you visit and what you have, there is no restriction on what items can and cannot be pawned.
What is the difference between pawning and selling an item?
If you sell an item, you relinquish all ownership rights and the item is no longer yours in any sense. If you pawn the item, there is a clause that allows you to buy the item back at an agreed price with your pawnbroker after a contracted period of time.
How much money can I get for my pawned item?
This will depend entirely on what the pawnbroker believes the item is worth. There will always be a market value for things like gold, but for the wider antique spectrum, there is a much more fluid range of pricing.
What is the interest rate for pawning?
Interest rates will vary between pawn shops, brokers, and items, but to give a general idea, the interest rates are usually anywhere between 3% and 10%.
How long do I have to repay my pawn loan?
The standard term of pawnbroker loans is 6 months, but these contracts can be extended. A change in the loan period may also mean a change in the interest charge.
Is my pawned item safe and secure?
We guarantee customers that their pawned items will remain safe and sound on our premises and be unavailable for other customers to buy. These terms will obviously change if you are not able to meet your loan agreement terms, at which point you forfeit rights to the item and it will be put up for sale.
Can I get my pawned item back if I change my mind?
Once an agreement has been made, you will be required to fulfill the loan repayment terms in order to retrieve your pawned item.
Do you buy items outright or only offer pawn loans?
We are a business that provides both of these services, depending on the demand for any item at any given time.
How do you determine the value of an item?
For jewelry, the estimate will be a combination of metal value and gemstone value, and for other items, we rely on the input of various experts in different fields and knowledge of local market forces.
What are your store hours?
We are open from 9 am to 5 pm Monday to Friday, 10 am to 3 pm on Saturdays, and we are closed all day on Sundays.
Do you offer discounts or promotions?
We may offer discounts and promotions at certain times throughout the year. The best way to keep up to date with this is by visiting our website and checking in-store when you can.
How do I contact your customer support?
There are a number of different ways that you can get in touch with our customer support team and experienced staff members:
- Via telephone on (323) 400-6480.
- In-store at 5511 Santa Monica Blvd, Los Angeles, CA 90038.
- By visiting our Facebook page – https://www.facebook.com/diamondpawnshop/
- By sending us a message on Twitter – @pawn_la
- By filling out the contact form on our website and detailing your query – https://laloancompany.com/contact-us/.