Top notch place. These people are extremely professional, kind, and make what can be an uncomfortable situation fairly pleasant.
We are here to help.
These are the final words used by Beverly Loan Company s description for their pawn loan service. I think it must be… Read More
We are here to help.
These are the final words used by Beverly Loan Company s description for their pawn loan service. I think it must be said: their estimation of their own helpfulness seems to be as miscalculated as their feigned empathy or their bloated sense of their organization s importance. A quick visit to the website, with ridiculous amounts of press clippings and self-congratulating proclamations of their silence in the face of the ceaseless hounding by the press, seems more like a case study in World Wide Web narcissism rather than an accurate reflection of their efforts or service.
I approached Beverly Loans hoping to secure a small pawn loan ($1,000) on a fine art sculpture I have, since they say their speciality is in loans for items that are generally outside the interest of most pawn shops, particularly fine art. Needing a short-term loan for any reason is usually a sign of something unfortunate or unpleasant occurring in one s life, and their PR magic really sold me that they understand that, as did the implications that they care about and respect me as a person.
For a company that prides itself on being able to work with items that are not ordinarily easy to value, I anticipated the process to be a no-brainer. The sculptor is modern, but well-known; and even considering mark-ups and premiums for something like a sculpture, it still seemed that this $45,000 piece by someone who regularly sells work, and whose work rates on the artbrokerage.com s wanted list, would surely be enough collateral to cover a $1000 loan. As you may already guess, it wasn t — but to be honest, though irritating, that fact alone wouldn t have merited writing this review.
First off, I found it a little difficult to reach them since the phone number listed on every page was for some man s custom kitchen store. However, after digging through the glitz I finally found a usable number. So, I sent in the information after speaking with someone at the store on Wednesday and communicating an unexaggerated but unambiguous urgency. As I mentioned before, the need to pawn something is often marked by certain usual characteristics. Time is almost always of the essence. Having received no phone call or communication of any kind (not even acknowledgement of receipt of my item s details) I proceeded to call around noon the next day to see if there had been any progress. Rather than someone who seemed sympathetic toward the average person seeking a pawn loan, I was met with a sarcastic You have to give them at least 24 hours. It had been close to that, but I tried to be understanding myself, and said I d wait for someone to contact me as soon as they re able.
Fast forward 27 more hours to 3PM on Friday. After close to 48 hours and no word, I called, and was placed on hold for 5 minutes before being connected to the receptionist s voicemail. I left one, and waited. Ten minutes later (what I can only assume having done a great deal of price research of my own, was the amount of time it took to do a quick search on Terapeak or an equivalent, and was likely all the time they ever needed) I get a return call from someone who tells me that it s a very beautiful sculpture, and while he was able to find figures about the piece s retail value, and figures for the sculptor s work (whom he consistently, even after I corrected him, referred to as he when it is she — demonstrating, I think, the obvious depth and time invested into this research which took two days) on the secondary market, there is no instance that this particular piece has resold, therefore no valuation can be established.
Considering the sculpture is new, and that it is, like most of her other work, a limited casting, it s not surprising that there isn t a documented resale of this particular sculpture. However, looking at the artist s other work (which anyone looking to do a valuation I would hope had bothered to do) they all tend to be similarly sized, themed, and executed. If this man, a fine arts professional, was unable to feel comfortable with that data that it was surely worth at least the value of the raw materials, and a guess that it would fair half or a quarter as well as any of its brothers and sisters, and thus be worth far in excess of $1,000, then I have to say that either he is a fraud, or that he lied to me about his real reason I suspect they wouldn t help me: I d foolishly stated in my request for valuation that I only wanted $1,000, an amount that would certainly be repaid to reclaim such a valuable piece.
A pawn shop makes far more money when their customers do not return to pay back their loan so they get to take possession of an item and sell it themselves, than when someone does repay the loan, and the shop is by law only allowed to collect a tiny percentage of amount loaned. So, don t believe for a second that these people are any different than vultures circling you and your precious belongings.