Pawnbroker to the Stars

What's the largest loan you've made? Seven figures.

What's being pawned? The more upscale clients are bringing in pricier items: diamonds and watches, such as Patek Philippes and diamond-encrusted Rolexes. We also lend against artwork and have seen Picassos, Warhols, Lichtensteins and Rauschenbergs. But the vast majority of our business is fine jewelry and watches. We can do a $250,000 loan in ten minutes.

Are people embarrassed to come in? I think there is a stigma attached to going to a pawnbroker. But coming to us for a loan against your beautiful six-figure diamond is no different than getting a loan against your beautiful six-figure home. They're both tangible assets that you own and that you're leveraging to get cash. I've heard people compare my role to that of a bartender. People have cried in my office. It's often their first time at a pawnshop. I never ask why they want the loan, but nine out of ten tell me.

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Has anyone ever pawned an Oscar? People have tried. But Oscars belong to the Academy, so we turn them down.

Any surprises? I've had people come in with a diamond engagement ring from a previous marriage that turns out to be a cubic zirconia. I tell them that maybe the divorce wasn't such a bad thing after all.