Requirements to Pawn: Where to Do It, Appraisers and MORE

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If you want to pawn an object of value or a jewel, do you know what the requirements to pawn? Where to do it? Who performs the valuation?

This and many more are detailed in this article, so if you are interested in this information, read on and get ready to go out and achieve that much-needed endeavor.

What are the Requirements to Pawn in Mexico?

Pawn establishments are generally called: Pawn shop. This type of trade is an alternative to get out of some economic difficulty, delivering in warranty or bail any object of value as mentioned below. All this in exchange for credits deposited in account or in cash:

  • Jewels.
  • Household appliances.
  • Computer equipment.
  • Smart phones.
  • Vehicles, among others.

When you need to pawn something, first what should be done is to go to a reputable pawn shop to avoid scams. Once at the pawn shop, the requirements must be presented, which are mentioned below:

  1. Updated identity document can be: IFE, valid passport (some pawn shops accept this identity document), military service certificate, professional identification card, among others.
  2. Phone number.
  3. Some pawn shops require a third party, in case the applicant cannot make the necessary payments or paperwork.
  4. The object to pawn. It can be a jewel, a household appliance or computer, a car, a smartphone, or any other that is accepted by the pawn shop.

At the pawn shop, the appraiser will perform the review routine of the object, which will be used as a surety or guarantee to estimate the maximum amount to be provided. The pawn applicant is informed of the maximum amount to be awarded and decides whether to accept or not. If you accept, a representative of the pawn shop receives the applicant’s data for proper registration.

The data to be supplied to the Pawn shop are as follows: The name, surname, contact telephone numbers, room address, technical details of the pawned item.

Also in the same form or form the pawn shop places: the interest to be charged, the commission corresponding to the operation and the times for payments.

These latest data may change depending on the store of pawn. For example, there are pawn shops where the applicant’s fingerprint and the data of a third party are also requested on the spreadsheet. With the purpose that it can carry out the procedures or payments in case the applicant of the pawn cannot carry them out.

What can be pawned?

The Pawnshops, This type of trade presents an alternative to get out of some economic difficulty, delivering in warranty or guarantee any object of value such as those mentioned below. All this in exchange for credits deposited into account or delivering cash to the applicant:

  • Jewels.
  • Household appliances.
  • Computer equipment.
  • Smart phones.
  • Vehicles, among others.

It is important to mention that items that receive the Pawn shops may change, depending on the store. There are pawn shops that do not accept the same items in their different stores, since each one is dedicated to receiving different objects.

In the case of jewelry, is an article for which pawn shops determine a set of physical characteristics with which the jewelry to be pawned must comply. As well as for the type of metal with which it is made.

However there are pawn shops that they do not ask for certain conditions to receive the jewel, but in some way the characteristics of the garment will influence the amount to be awarded.

In addition, these stores almost never require receipts certifying ownership of the jewel, which does not limit pawning a certain number of pieces in the case of earrings and other pieces.

On the other hand, when it comes to watches pawn shops accept them of any brand, and also those made in or with a certain gold content. However, they prefer not to receive those that come from a boutique. If you accept the latter, the money to be awarded will always be less than with another type of watch.

Regarding watches, there are stores that prefer to receive this type of articles in gold or platinum, which must maintain acceptable conditions. For these stores, it is essential to receive the pair in the case of cufflinks for clothing, earrings or buckler. As for watches, they mainly receive those made by the Swiss.

Where can you Pawn in Mexico?

In Mexico there are many houses of responsible endeavor, on where you can go to perform the procedure to pawn any object of value. Here are just a few of these stores:

  • Montepío Luz Saviñón.
  • National Mount of Piedad.
  • Rafael Foundation.
  • Prendamex.

It is important to mention that not all pawn shops accept all objects or items to pawn. There are some that accept only jewelry and watches, there are others that accept only vehicles.

On the other hand, others only accept electronic equipment, appliances and smartphones. So when starting the pawn, you should inform yourself about the stores that accept the items you want to pawn.

In this sense there are stores that accept multiple objects, This type of stores accept objects such as smartphones, laptop-type computers, televisions, appliances, furniture, and others. With regard to these cases, the evaluation of the objects is similar to that in the case of jewelery and watches.

These stores perform an appraisal of the objects and determine the amount to be awarded. That is why the conditions of electrical appliances or electronic objects must include all components, for example, the remote control of the television, a DVD, cables and other accessories such as chargers and batteries for laptops, cell phones and others.

However, before the little use of analog equipmentMany pawn shops have downplayed the reception of obsolete televisions or telephones, due to the fact that in the event that the applicant loses the option to get their pawn item back; it is complex for the store to later sell the object and recover the amount granted.

In the case of pawn shops that accept vehicles, the requirements in the conditions of the same are greater, since in addition to the current official documentation of the car is necessary a receipt indicating the address of residence, with an issue date less than 3 months old.

Likewise, the original invoice for the car, the driving license, among others, is necessary. There’s also pawn shops that accept automobiles with a maximum age of ten (10) years of being on the market, in addition to those considered as classic models.

Requirements to Pawn. Appraisers

In the financial field, the valuation is also called asset valuation, is the action of making an estimate of the value of liabilities or assets. In this environment the evaluation process is fundamental for many circumstances incorporating: The analysis of investments, capitals, mergers and purchases in general.

On the other hand, in the real estate environment the appraiser is a specialist who estimate the value of houses or properties in general. For which he will make visits to the property (s), to capture several photos, consult details of the property and prepare an urban and construction analysis of the property.

All this in order to determine the estimate real and commercial, which contains a margin of acceptance to increase or decrease the cost of the property at the time of sale.

In the case of pawn shop appraisers, are the people who have the responsibility of evaluating or indicating the price of an object or item. Taking into account the physical, obsolescence and manufacturing conditions of this. In this sense, another function of these specialists in a pawn shop is customer service, as shown below:

  • Serves customers, indicating, among other things, the requirements to pawn.
  • Carry out the evaluation of the object to be pawned by the client, it can be: Gold, platinum or silver jewelery, watches, vehicles, smartphones, electronic equipment and household appliances, among other things.
  • He must advise the client in relation to the credits granted by pawn: Data required for the application, applied interest, commissions, payment terms and others.
  • You must also attract customers for the company.

Pawn Requirements What is Pawn?

It is basically handing over to someone a thing of value, such as jewelry, vehicle, household appliance, electronic equipment and others; as a deposit in exchange for an amount of money, generally as a loan for the return of which this thing responds. All this complying with the requirements to pawn.

To pawn any garment or another object, the first thing that should be taken into account are the following aspects. Since they can be part of the requirements of the establishment to accept the commitment:

  1. In what condition is the object or garment to be pawned.
  2. It is also necessary to know what material the garment is made of, in case it is a garment that you want to pawn.
  3. Have the documentation in order, if it is an object that you want to pawn.

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