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Scavenger Hunt

By | from Les Gold, from Seth Gold, Latest posts, Uncategorized

Finding High-Value Pawn Items

We all need some extra cash every once in a while.

And while some high-value items immediately come to mind (gold, jewelry, electronic), you may be surprised to find that you may have other items perfect for pawn. 

Join us in a scavenger hunt to find value in unlikely items!

The ‘70s are full of groovy items!

This decade gave us tie-dye, Star Wars, high-waisted pants, roller-skating.

Wait a minute… 

It’s time to check the closet and basement because your vintage items (50 years old or more) may be worth big money! These items are perfect for pawn. Start looking for:

  • Original Tupperware
  • Comics
  • Handbags
  • Lunchboxes
  • Magazines and cookbooks

Brush with Fame?  

Did you go to high school with a famous athlete or celebrity and have a yearbook with their signature? Take a stroll down memory lane too. (Bonus: pre-hashtags and texting). Did your yearbook have any of these? ASS: always stay sweet, KIT: keep in touch, or LYLAS: love ya like a sis. 

  • Kristen Bell: Shrine Catholic High School, Royal Oak
  • Jack White & Diana Ross: Cass Tech High School, Detroit
  • Eminem: Lincoln High School, Warren
  • Jalen Rose: Southwestern High School, Detroit

‘90s Toys. Shockingly Valuable

When toys are in great condition they can be worth great money. Time to raid the toybox!

  • Retired American Girl dolls (Molly and Samantha, for example)
  • Original Harry Potter books
  • Yu-Gi-Oh! Cards
  • Board Games: Mall Madness, ‘90s Trivial Pursuit, and more

M-I-C-K-E-Y M-O-U-S-E

Disney never goes out of style, but there are a few things that continue to grow in value.

  • Vintage Disney World or Disneyland park maps
  • Trading pins 
  • Original Buzz and Woody toys

Ready, set, go!

Start your scavenger hunt by looking around your house for valuable items you never knew you had.

Then, visit American Jewelry and Loan and pawn for instant cash!

 

Les Gold Emcees Corks & Forks Auction

By | Community Engagement, Detroit Love, Uncategorized

On Saturday, February 29, 2020, Les Gold was honored to host Winning Future’s high end auction at their annual Corks & Forks fundraiser. This was the fourth year that Les volunteered his time and talents for this event.

The mission of Winning Futures is to be an exemplary business-education partnership that inspires and prepares teens to be successful in a career through workforce preparation, life skills development, strategic planning, mentoring, and scholarship programs.

Les Gold and American Jewelry & Loan are proud to support this great cause.  If you’d like to learn more about Winning Futures, please visit their website at www.WinningFutures.org

Can’t Come In? Visit Our Online Stores!

By | Uncategorized

At American Jewelry & Loan, we strive to provide each customer with the best possible customer service – and that includes your online shopping!

We have a lot of fans and shoppers from around the globe that connect with us on a daily basis through our online shops on eBay and Etsy.  Jewelry, luxury handbags and hundred of unique items at discounted prices….and we’re always adding new stuff!

Shop with us on eBay here: http://www.ebaystores.com/americanjewelryandloan

Shop with on on Etsy here: https://www.etsy.com/people/PawnDetroit

Don’t see what you’re looking for?  You can always shoot us a note through email at [email protected]  We’d love to hear from you!

Happy shopping!

Les Gold is the honored recipient of a "Partner of the Year" award from Winning Futures.

Les Gold Honored Recipient of 2019 “Partner of the Year” Award from Winning Futures

By | Community Engagement, Detroit Love, from Les Gold, Uncategorized

Les Gold, founder & president of American Jewelry and Loan, is honored to receive a “Partner of the Year” award from Winning Futures, an organization who has been empowering high school students to succeed as adults in the workforce since 1994.

On May 15, 2019, over 300 students, staff, mentors, partners, and supporters gathered at the Winning Futures 25th Anniversary Awards Celebration. During the event, Les was recognized as Partner of the Year, along with Hamilton Chevrolet and Warren Consolidated Schools.

Les was named Partner of the Year for serving as emcee and helping to raise over 425,000.00 for the benefit of Winning Futures during their annual gala live auction fundraiser event, “Corks & Forks“.

 

Les Gold to receive "Partner of the Year" award from Winning Futures of Metro Detroit, MI.

Celebrating its 25th anniversary and presented by Lear Corporation, Winning Futures (WinningFutures.org) is a nationally recognized and award-winning expert in empowering high school students to succeed. Through their evidence-based and structured Workforce Prep program, students throughout metro Detroit are immersed in a four-year experiential curriculum that begins in tenth grade and continues through one year post high school. The program includes in-class mentoring, life skill development, goal setting, job readiness training, and career exploration. With help from volunteer mentors and partnerships with the business community, students are transformed into self-reliant, employable, and productive adults with defined academic and career goals, and highly desirable workforce skills. Since 1994, Winning Futures has positively impacted more than 49,000 students and awarded $1.9 million in scholarships.

 

 

American Jewelry & Loan now offers fast, easy online loan payments.

American Jewelry And Loan Bets On Digital

By | Uncategorized

American Jewelry and Loan now offers fast, easy digital loan payments. Customers may use a self-service kiosk at the Detroit store to pay loan interest, pay off their loan and pick up their items, or pay on items in layaway. These transactions may also be made online.

“People want convenience. People want to do their transactions quickly, so they can get on with their day.” said Seth Gold, co-owner of American Jewelry and Loan.

Read more at Crain’s Detroit.

 

We'll beat any online diamond retailer's price!

Shopping Online for a Diamond? We’ll Beat Their Price!

By | Business, Uncategorized

Purchasing a diamond is a big decision — by limiting your shopping experience to the internet, there is no chance to “try before you buy”. In order to see that diamond you purchase online, you have to buy it…which increases the risk of fraud or ending up with an expensive item that you are unhappy with.

Find a stone that you want to buy online?

American Jewelry and Loan will set an appointment for one of our GIA Certified gemologists to show you comparable diamonds and/or jewelry pieces that are similar to what you find at online retailers. We will match the published price on a like-for-like stone. In the rare circumstance that we are unable to find exactly what you’re looking for and you end up purchasing the stone online after a consultation with one of our jewelers, we will pay you $100 (just show us the proof of purchase of that original online stone with specifications including cut and clarity).

Power to the Gird matches individuals on the autism specturm with jobs that fit their unique abilities.

American Jewelry and Loan Celebrating Two Years of a Commitment to Workforce Diversity

By | Latest posts, Uncategorized

Two years ago, American Jewelry and Loan became the first BETA Test site in Metro Detroit for a program that was focused on hiring, educating, and empowering individuals on the Autism spectrum.

“When we first found out about this opportunity, there was no hesitation–we have a need for talented skilled workers who can keep our ecommerce store running. This program fills that need efficiently and effectively” said Les Gold, owner of American Jewelry and Loan.  Now two years later, all of the participants in the program remain an important part of our team and have grown in their roles individually and collectively, working almost every day to not only list items to our ecommerce store but also to process our technology inventory such as laptops, tablets, and game systems.

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Through this partnership, American Jewelry and Loan is able to add staff to their team from a previously untapped workforce–individuals who are affected by autism. “When I leave work every day, I feel fulfilled, independent, and needed” Les said “now, thanks to this program, we’re able to provide that same pride to an entirely new population who might otherwise be unemployed, under-employed, or marginalized” he added.

“We were the first business to test this model–and if we have been able to make it happen in the back of a pawnshop, then I believe that literally any business can take advantage of this same opportunity” said Seth Gold, who oversees the ecommerce department for the store.

CNBC: The wealthy are using pawn shops to finance their business ideas

By | Uncategorized

At American Jewelry and Loan, we frequently work with entrepreneurs to help them get the cash they need to keep their business running. Check out this interesting article from  from CNBC:

Wealthy people looking to fund new ventures are turning to their Rolexes and art collections as collateral for quick and easy loans from high-end pawn shops.

The handful of lending companies tapping into the trend let their affluent clients take quick thousand-dollar or million-dollar loans with high-end collectibles as collateral. That’s far greater than the average loan size of $150, according to the National Pawnbrokers Association. Business owners say the way the luxury goods-backed loans are growing points less to the financial distress associated with pawn shops and more to seize money-making opportunities.

The pickup in economic growth has shifted the balance toward small business owners growing their businesses, said Jordan Tabach-Bank, CEO of Beverly Hills-based The Loan Companies.

Growth is “certainly geared more towards opportunity loans than anything else,” Tabach-Bank said in a phone interview. His company operates brick-and-mortar high-end pawn shops in Beverly Hills, Chicago and New York. Business is doing so well that he’s considering opening a fourth location.

In another sign, Denver-based Luxury Asset Capital said it launched an online version called Lux Exchange in late January and has secured a credit line of $50 million from a family office.

A big part of the job is “educating the affluent consumer that they have all these assets sitting in their closet,” said Dewey Burke, president and CEO of Luxury Asset Capital.

One of his clients was able to use his watch collection to seal a commercial real estate deal. This client spent 10 years trying unsuccessfully to purchase a piece of property, Burke said. When it suddenly came up for sale last year, the client had just one week to close.

No bank would provide a loan in such a short time, Burke said. But after the client mailed in “four very, very high-end luxury” watches, Burke’s company was able to provide him with $400,000 in 48 hours.

Some clients also leave their luxury goods with Lux Exchange for a service that acts like a revolving line of credit.

“Often times if I talk about my business, the assumption is that people borrowing money from you, they must be in a bad spot. That’s simply not true,” Burke said. “We also and more often deal with business owners that are growing.”

Global wealth is on the rise as equity markets have run into record high territory, and prices for luxury goods are climbing. Last fall, a da Vinci painting sold for more than $450 million, the most expensive piece of art sold at an auction, according to Christie’s. In December, a vintage Rolex formerly owned by Oscar-winning actor Paul Newman set the record for the most expensive wristwatch sold at auction – $17.75 million.

Individuals are also using high-end pawn shops to use their existing collectibles to buy more.

“They’re able to fund the passion with the passion, versus using assets that would be used for other purposes. It makes a lot of sense for me,” said Morgan Duffy, president of Hayden Wood Insurance Agency, which focuses on the car collection market.

Sometimes using a traditional lender has resulted in not being able to make a purchase at all.

One of Duffy’s clients had $20 million worth of cars, and saw that the 18th out of 19 cars in one line was coming up for sale at an auction in four weeks. “He had tied up all his liquidity in business pursuits” and didn’t have the roughly $3 million for the car, Duffy said. “Even with providing evidence of what his collection included, we couldn’t get the traditional lender to wrap his head around it in time to purchase the car for his collection.”

But the overall trend for high-end pawnbrokers appears to be entrepreneurs needing large amounts of capital quickly.

In Houston, Pamela Wright of Wright Pawn & Jewelry said loans in the last nine months grew 20 percent from the same period last year, mostly driven by luxury goods. She said some of the business loans were for:

  • a young woman who needed to patent and create a cosmetic product that now sells through the QVC television shopping network;
  • a man who needed to purchase a car to become an Uber driver;
  • a woman who started a successful delivery service.

“There does seem to be an increase in clients patenting ideas to take to market,” Wright said. “It’s not just the sandwich shop down the street. These are people that are thinking outside the box.”

 

 

Read full article: https://www.cnbc.com/2018/03/05/the-wealthy-are-using-pawn-shops-to-finance-their-business-ideas.html