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Pawn Shops Thriving in Macau

By   /  January 31, 2013  /  International Pawnbrokers  /  No Comments

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Pawn shops in Macau are booming, and unlike in other parts of the world, this bodes well for the local economy.  Macau is a hot spot for gamblers, but because of controls imposed by the Chinese government, mainland citizens are only allowed to bring what amounts to a little over $3,000 into the Macau Special [...]

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SOE Ministry wants Calls for Regulations to Indonesian Pawn Industry

By   /  January 28, 2013  /  International Pawnbrokers  /  No Comments

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An official at the State-Owned Enterprise Ministry has called for the Financial Services Authority to regulate Indonesian pawnbrokers.  According to Gatot Trihargo, acting deputy for services at the SOE Ministry, there was only one broker in the past, Pegadaian, and so there are currently no government agencies monitoring such businesses.  In fact, Perum Pegadaian was [...]

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First Cash Boosts Profits by Expanding Pawn Business

By   /  January 28, 2013  /  Pawn News  /  No Comments

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First Cash Financial Service Inc. reported a 29 percent increase in income in the fourth quarter.  The Arlington, TX based company bought more pawn shops in the U.S. and Mexico and scaled back its payday lending business.  According to First Cash, payday lending, which is heavily scrutinized by federal regulators, now makes up less than [...]

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Consumer Price Index for Jewelry Falls 2.9 %

By   /  January 26, 2013  /  Jewelry  /  No Comments

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The U.S. consumer price index for jewelry in December fell 2.9 percent year on year to 176.87 points.  The index was also lower than November’s reading, however, the CPI has maintained its historically strong trend as December marked the 24th consecutive month of a reading of more than 170 points.  The ease was likely in [...]

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What’s Causing Gold’s Price Decline?

By   /  January 26, 2013  /  Gold Price  /  No Comments

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Gold futures fell 1% this week.  The January 23rd House vote to suspend the debt ceiling until May, expectations of stronger growth and higher real interest rates, lower U.S. initial jobless claims and recent news suggesting an earlier-than-expected end to quantitative easing all may have contributed to the recent weakness in gold prices.  Some experts [...]

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How to Open a Pawn Shop

By   /  January 25, 2013  /  Collateral Loan, Home, Pawn News  /  No Comments

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If you follow pawn news at all, you’ll know that pawn shops are thriving right now.  Opening a pawn shop is not a simple process, but if you’re willing to follow the right steps and if you have or are willing to learn the skills and knowledge it takes to be a pawnbroker now is an [...]

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Melted down Gold Worth More than Heirlooms

By   /  January 25, 2013  /  Gold Price  /  No Comments

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Jeweler William Houchin has seen the price of gold rise and has even profited from the rise by buying gold and reselling it to a refinery that melts it down.  Houchin isn’t happy with the way the market is operating, however.  His 20-year-old boutique no longer moves the exquisite gold jewelry estate items the way [...]

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Pawn Broking Just another Form of Asset-Based Lending

By   /  January 23, 2013  /  International Pawnbrokers  /  No Comments

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Bank lending in the U.K. has been in decline since 2008 leaving alternative lenders in a good position.  While crowd-funding and peer-to-peer online finance platforms are getting a lot of attention, there is a much older industry also profiting from the credit crunch.  Pawnbrokers are continuing to do what they’ve been doing throughout history and [...]

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High-end Arizona Pawn Shop Gives Alternative to Bank Loans

By   /  January 23, 2013  /  High End Pawn  /  No Comments

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David Goldstein of Biltmore Loan and Jewelry in Scottsdale, AZ has seen his business grow in the wake of the recession.  Pawn shops take risks on individuals and small business owners that banks won’t.  “It’s asset based lending,” says Goldstein.  “It could be cars, boats, dune buggies.  It can be any antique.”  For Bruce Inouye, [...]

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Original Batmobile Expected to Bring in Millions at Auction

By   /  January 20, 2013  /  Collectibles  /  No Comments

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The original Batmobile used in the 1960’s Adam West TV show as well as the movie adaptation starring West will be up for auction at the 42nd annual Barrett-Jackson Scottsdale event.  The car is expected to bring in up to $5 million dollars.  “It’s one of those wild cards, since we really don’t know what [...]

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