|Pawnshop to the Stars|
Jordan Tabach-Bank of the Beverly Loan Company in Beverly Hills.
(Beverly Loan Company)
Beverly Loan Company says more affluent people than ever need cash
A sign of very bad economic times for some. But Jordan Tabach-Bank says business is good at the 73-year-old Beverly Loan Company in Beverly Hills, California.
“Never before have we seen so many affluent people needing cash,” he said. “People are in a cash crunch. You can’t go to the bank for a loan for holiday shopping,” reports the Los Angeles Times.
- A Beverly Hills real estate broker is waiting for escrow to close on two upscale properties. She hocked her diamond Patek Philippe watch at the Beverly Hills pawnshop for cash. She'll reclaim her $15,000 timepiece when the deals close.
- A Beverly Hills financial manager pawned his wife's six-carat diamond engagement ring so he could reward his staff members with Christmas bonuses this year.
- An elderly woman decided to outright sell her $80,000, circa-1920s emerald and diamond bracelet to the pawnshop so she could buy Christmas gifts for her children and grandchildren.
"We like to get the ring back on the finger, the watch back on the wrist and the art back on the wall," Tabach-Bank said. "Loans in the $3,000 to $4,000 range are typical in Beverly Hills for the holidays."
There are some pawned items that Tabach-Bank is especially hoping will be reclaimed. Like the 1980 Raiders Super Bowl ring belonging to "a person slightly down on his luck. My hope is the gentlemen will be able to get it back," he said.
Business is booming.
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|The only thing missing at the Beverly Loan Company is the traditional three balls outside the front door.|