Monday, August 31, 2009

It's a Bull Market for Pawn Brokers

The demand for cash is very high.

San Diego Jewelry Buyers reports a steady increase in immediate cash loans on luxury collateral, such as fine jewelry, gold coins, rare timepieces, and large carat diamonds.

According to Carl Blackburn, president of SDJB:
Since the second quarter of 2009, when we increased our loan limits on qualified collateral, we have seen a notable increase in 25-50k loans, on everything from high grade vintage watches and large estate diamonds, to rare jewel-studded writing instruments and custom made fine jewelry" says Blackburn.The credit crunch has been especially hard on many high net worth entrepreneurs in San Diego.And fortunately we've been in the position to help many small businesses maintain their liquidity after they've been turned down by banks or other institutional lenders who continue to tighten their purse-strings.

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