Many people think it is a a place to buy and sell items, and that this is how pawn shops make money. While this is one way pawn shops make money, this is not how they measure their success. They measure their success by their “pawn balance”, or by how much money they have currently loaned out.

Pawn shops provide loans to people who have exhausted other options to borrow money.

How Do Pawn Shops Work?

• In order to get a loan from a pawn shop, all you need to have is something of value that you own, you take it to a pawn shop, and they give you cash immediately for your item.

• You pay them interest every month until you want to buy the item back for the amount your borrowed against it.

• If you decide not to pay the interest, then the pawn shop keeps your item and sells it in their store.
  

• Pawn shops charge anywhere between 10% and 25% per month. As a result most pawn loans are short term, because if it goes 4-10 months you may have paid as much as you borrowed in interest, and you would be better offer just letting them keep the item.

What is different about Internet Pawn?

• Lower terms: Internet Pawn charges as low as 6% interest per month, which over 6 months results in about a 300% savings vs. a traditional pawn shop.

• Experience: The team at Internet Pawn has decades of experience in the industry and has appraisers on site to make certain you get the most amount of cash possible for your item.

• Privacy and Safety: Internet Pawn enables you to use pawn services from the privacy and security of your own home. In many cases we will  pick items up from your home via Fedex or Brinks.

• Security: Your items are stored in a state of the art secure facility and insured by Lloyds of London.
  

Since the home mortgage related crisis began a few years ago and continues to affect the housing market, buying a house often means home buyers have to acquire a larger down payment to obtain a mortgage for a new home.

Advantages of using a collateral loan for down payment assistance and mortgage:

1. This does not affect you income vs. monthly payment calculation.
   When you acquire a collateral loan, all you are doing is moving a current asset to cash. If you have jewelry, watches or diamonds that are worth a few thousand dollars or more, you should be reporting these as assets. When you convert them to a collateral loan you receive the cash, with no obligation to pay the loan back, and nothing reporting to any credit agency.

2. There is no credit check with a pawn loan for down payment assistance for a mortgage qualification.
   In order to provide you with a collateral loan, the only thing we have to do is take steps to evaluate your jewelry, watch or diamonds, and make certain they are not stolen. We never run a credit check, and we never report your transaction to a credit agency.

3. You can receive your down payment assistance for your mortgage from us within 24-48 hours.
   If you have high end jewelry, diamonds or a watch worth $2,000 or more, and you need cash for them fast, you may have trouble selling them quickly. If you do sell them quickly, you are likely to receive a lot less for them than you deserve, because it is not a seller’s market. By utilizing a collateral loan, you can get cash right away, and then choose to sell your item when the market is better or buy it back as soon as you are able. There are other benefits to utilizing a collateral loan for down payment assistance.
   

Contact one of our loan specialists today at 888-837-5877 or fill out an application at Internet Pawn and we will call you back promptly. Down Payment Assistance and Mortgage.

Resale jewelry value is probably the number question we get on a daily basis in our industry. The pre-owned value of jewelry and watches is often confused with the appraised value. Appraisals are typically used for insurance purposes and full retail replacement of your valuables as if they were lost or damaged. Jewelry items such as Diamond Rings-Bracelets-Necklaces-Earrings and other manufactured Jewelry items take the biggest deprecation hit. The biggest reason for this is the cost of design-manufacturing and retailing these items. A single piece of jewelry starts as raw gold and raw diamonds. Gold has to be refined before it can be used to build a piece of jewelry, a diamond has to be mined from the earth and then cut into a shape and then polished. All of these processes are very time consuming and very costly. Once that the gold is refined and the diamond is mined, cut and polished we are now ready to design a piece of jewelry. After the piece is designed then it’s ready to go to the jeweler for manufacturing. So as you can see from what I’ve just described there’s a lot that goes into making a piece of jewelry and the piece passes through a lot of hands and at every stop there’s a markup of at least two times. The true pre-owned value of most jewelry is 1/3rd of the original retail price.

Of course, there are a lot of people who are looking for the “value of antique Rolex watch”, or “appraisal of my watch”.

Fine watches are a different story. A fine watch if kept in good condition and all original paperwork is also kept the depreciation curve is not as dramatic. Some watches will actually increase in value. Watches are much easier to research and determine the true pre-owned value because there are many websites that will give you the pre-owned value of your fine watch. Just remember to put yourself in the buyer’s shoes and think about what you would expect if you were looking to purchase a pre-owned fine watch or piece of jewelry.

43-year-old Jim Sanders was the victim who was fatally shot during a robbery in his home in Edgewood Washington home on April 28 while his family was bound and beaten.

Police identified the suspect as 23-year-old Clabon Berniard from SeaTac.

Berniard moved to Washington from New Orleans in 2005 after Hurricane Katrina, and police said he has strong ties to Louisiana, where investigators are likely working with police. Law enforcement is also looking at a list of the man’s relatives.

Berniard has a history of crimes, most of which were committed in King County. Records show he was last in the county jail for investigation of drug possession in March, and on separate occasions between 2005 and 2009, he was convicted of robbery, burglary and theft.

Berniard is described as African American, 5 feet 11 inches tall, 200 pounds with black hair and brown eyes. He is known to frequent Seattle, Kent and SeaTac, Pierce County Sheriff’s Department spokesman Ed Troyer said. Police said he is known by the street name “G.”

“He knows we’re looking for him. We did a couple of operations (Wednesday), we weren’t able to locate him, so now we’re asking for the public’s help to try to get this guy caught,” said Troyer.

The fugitive is now charged with first-degree murder, first-degree robbery and second-degree assault, the same charges filed on three other suspects accused in the slaying.

The three other suspects, already in police custody, are 21-year-old Amanda Knight, 22-year-old Kiyoshi Higashi and 20-year-old Joshua Reese. A tearful Knight appeared in Pierce County court Wednesday. She pleaded not guilty to those charges as well as another series of charges including first-degree robbery, second-degree assault and one count of second-degree burglary.

In a strange twist, three years ago Berniard and his sister were given a “Citizen Life Saving” award for pulling two people out of a burning building in the Skyway area. At that time, fire victim Cherry Gray called Berniard “her angel” for pulling her out of that building.

Higashi and Reese remain in Redwood City, Calif. after they were arrested, along with Knight, in Daly City on unrelated charges. Knight bailed out, but turned herself in to police in Sumner Tuesday night.

The San Mateo County Sheriff’s Office told KIRO 7 Eyewitness News reporter Jeff Dubois that the two men will be transferred to Washington before May 20, but wouldn’t provide a specific date “for security reasons.”

Troyer told KIRO 7 reporter Kevin McCarty on Thursday, “We believe the shooter is already in custody,” but did not say whether investigators thought the gunman was Higashi or Reese.

Police said Sanders was killed when four people, three men and a woman, entered his home on the premise they were interested in a diamond ring Sanders had posted on Craigslist. Sanders was shot and killed when he stepped in to protect his 14-year-old son, who was being pistol-whipped by the robbers.

Knight, Higashi and Reese are also suspected in a similar robbery in Lake Stevens, about 60 miles north of Edgewood, in which a couple said they were tied up and their home was ransacked by two men who said they were responding to their Craigslist ad for a flat-screen TV.

Many people do not realize that a Pawn Shop is a much safer place to buy, sell and get instant cash loans for your items.Internet Pawn has even more advantages over your typical pawn shop or local pawnbroker.

Guaranteed Short Term Loans From $500 to $250,000

Internet pawn provides personal loans from the privacy, convenience and security of your own home. Internet Pawn loans money secured by the Jewelry, fine Watches and Gold you already own. We are experts at advancing cash on Rolex, Patek-Philippe and other luxury Watches, Diamonds, Gold and almost any item of value.

• Confidential & Secure: Point… Click…. Pawn!

• Better Terms: No Payments for 180 Days

• Cheaper Rates: Up to 70% Less Than Other Lenders

• More Cash: 50% More Cash Than Your Local Jeweler!

• No Credit Checks

• Free Insured Shipping

• Satisfaction GuaranteedApply Online to Get Cash in as Little as 24 Hours

DENVER,  May 4, 2010 – Internet Pawn, Inc., the first dedicated online pawn shop in the United States, today announced that it has completed a $1.5 million Series A equity financing that will allow the company to scale the organization and bring its groundbreaking online pawn personal loan service to market.

New investors Daylight Partners and Access Ventures joined the Company’s founders in the financing.  “We are thrilled to welcome Daylight Partners and Access Ventures to the Company’s family” said Todd Hills, co-Founder and CEO, “the expertise and capital our new partners bring will help us meet the increasing demand for our cash loan services around the United States.”

Rocky Mountain, of Austin, Texas based Daylight Partners, has joined the Company’s Board as part of the transaction.  “Daylight rarely invests in Companies outside of our own backyard.” Said Mountain “however Internet Pawn’s offering is so disruptive we felt compelled to make an exception.  With no interest due for 6 months and loan costs 60% less than a traditional brick and mortar pawn shop, this financing option will prove to be an exciting alternative for the millions of U.S. residents who currently utilize pawn services to meet their short term cash needs.”

“The Internet Pawn concept is one of the more intriguing we have seen in 15 years of investing” added Jay Campion of Access Ventures, who has also joined the Company’s Board with the financing; “the transparency, privacy and easy terms of the transaction has so far proven to be an attractive alternative to the professional or entrepreneur who needs immediate access to cash to satisfy short-term needs.”

About Internet Pawn
Launched in 2009 by 25-year industry veterans most recently responsible for the Jumping Jack Cash chain of traditional pawn shops in Colorado and Utah, Internet Pawn is the first Web-based pawn shop in the United States. As such, it is revolutionizing a 3,000-year-old industry by guaranteeing secure, confidential, asset-based loans with consumer-friendly rates and terms online. Unlike other online lenders, Internet Pawn offers loans based on the collateral of customers’ personal valuables. The company offers cash quickly with no payments for six months. A member of the Better Business Bureau and National Pawnbrokers Association, Internet Pawn guarantees a premium value based on its experience and proprietary valuation technology, and all transactions are conducted from the privacy of the customer’s home. For more information, go to www.internetpawn.com.

While Internet Pawn will loan on just about anything legitimate and of value from diamonds, art, gold & jewelry, to automobiles and motorcycles, Internet Pawn specializes in Providing Rolex for pawn, Omega for Pawn, Tag Heuer for pawn, and Breitling for pawn services.

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This new generation of customer base has never had experience in a traditional  brick mortar pawnshop.

The traditional pawnshops are not equipped   with necessary tools and staff to meet this customer’s short term cash needs. An average loan at the neighborhood pawns shop is less than $100.00
their main focus is on Electronics-Tools and Small Gold Jewelry items’ they do a great job fulfilling small loans on these types of products.

An online pawnbrokers average loan is over $2500.00 and their main focus is on Fine Jewelry and Watches such as Vacheron Constanin ,Patek  Phillippe ,IWC, Girrard,Perregaux, Rolex, Audemars Piguet.

Online pawnbrokers have expert staff that is experienced in evaluating fine Jewelry and Watches.

Just last week internetpawn.com gave a NFL player a $10,000.00 cash loan on his breitling diamond watch.

Todd Hills, CEO of Internet Pawn was surprised when the online application came in. The player has been in the league for over ten years and has played for multiple teams.

The player said that he needed the cash to cover some unexpected bills. He was able to get a cash loan on his Breitling diamond watch for $10,000.00 in less than 24-hours.

The player said he would be back to repay his online watch loan in less than 30-days even though he has 6-months to retrieve his watch.

The one thing I hear all the time is pawnshops only deal with crack heads, drunks and thieves. These typical stereotypes still hold true for a number of pawn customers, but there is a new pawn customer emerging.

The pawn industry has significantly changed over the last decade. There is a new customer base and a new quality of product being pawned. The high unemployment rate, lack of personal loans, and overall economic downsize has produced a whole new breed of pawn customers. These people are not crack heads, drunks and certainly not thieves. The new customers are honest, hard working, educated, blue and white collar Americans that are caught in the country’s credit crunch and huge economic slowdown.

Let me be a little more specific about who this new customer is. It could be a very successful business owner that has a payroll to meet next week. I have provided financial solutions for a few professional athletes, who are down on the luck and their contracts have expired. With the divorce rate continuing to loom around 50%, diamond rings are pawned or sold to help build new lives. Or how about a big time wealth manager or a real estate broker, mortgage broker or car sales person. Many industries are being affected by the economy and many people are one pay check away from financial hardship. In this day and age I never know who my customer will be, but am always glad I can offer a financial solution. In the good times these new pawn customers have done their part in stimulating the economy by purchasing

items like. The good news is that they have these assets, which can be pawned for financial relief. I have seen a tremendous growth in the value of items being pledged, and would expect to see this trend as the economy continues to suffer.

Pawnshops have been around for centuries. In the good times and bad, they have been there to service the financial gap that traditional financial institutions cannot, or will not serve.

Todd Hills

CEO, Co-founder internetpawn.com

AS CONSUMERS SEEK ALTERNATE INCOME SOURCES DURING RECESSION, INTERNET PAWN OFFERS A SECURE, CONSUMER-FRIENDLY WAY TO ACCESS CASH

Company seeks to revolutionize pawn industry by offering the first Web-based pawn shop in the United States
DENVER, August 18, 2009 – As a result of the economic downturn, a large segment of the population is unable to access credit. Internet Pawn, a new online pawn service launched today by founders with more than two decades’ experience in the pawn industry, provides consumers a unique opportunity to discreetly leverage the equity they have in their personal valuables to solve immediate cash flow needs.

Internet Pawn:

• Provides personal loans based on the collateral of customers’ personal valuables – customers do not have to sell sentimental assets or valuables in order to receive cash

• Requires no credit checks or proof of employment to obtain a loan, given the collateral-backed loan agreement

• Offers cash quickly with no payments required for six months and gives customers the option for credit without negative consequences to their credit scores

• Guarantees premium loan amounts based on proprietary valuation technology and decades of industry experience

• Returns excess sales proceeds to the original owner

• Uses the latest in security standards, and partners with such industry leaders as Wells Fargo, Equifax, Verisign, Westec and PawnGuard, so consumers can trust their assets and personal information are safe and secure

“Internet Pawn puts a whole new twist on the concept of pawn loans, making pawn more attractive, affordable and convenient to a broader group of customers,” said Todd Hills, co-founder, president and CEO of Internet Pawn. “Internet Pawn is ideal for anyone with a valued personal asset and a temporary cash flow need. This can be someone who can’t rectify a financial challenge in 30 to 90 days, but will be in a different financial position in six months to one year; entrepreneurs without access to lines of credit; customers who have extended their credit over the past few years or anyone experiencing an unexpected household emergency.” “Internet Pawn derives revenue from the interest rate of our loans. It is our goal to return 100 percent of the items used as collateral to our customers,” said Jim McHose, Internet Pawn’s co-founder and CFO. “Our terms allow consumers time to get on their feet financially using valuables they might otherwise have to sell so that they can repay their loan. If they opt not to repay and we sell their item, we return excess proceeds from the sale to the consumer.”