FAQ – Frequently asked questions
What sort of items can I pawn?
We provide loans for valuables, silver/ gold/ diamond jewellery, bars, coins, any kind of watches, valuable pocket watches, unmounted diamonds, and anything of value. Of course only items unconditionally owned by the pledger can be pawned.
If you’d like to know whether we can accept your item, you can call any of our branches during their opening hours. One of our friendly, competent staff members will be glad to assist you further.
When do I get my money?
The loan is paid out as soon as the pawned item has been valued by one of our trained experts.
How long is the loan term?
The loan term is for three months, after which time you can either extend the contract (which requires payment of all interest and fees due up to this time) or redeem your item in exchange for loan repayment (plus interest and fees).
How much are the fees and interest?
The interest and fees incurred by your pawn loan agreement are charged by the pawn shop for every commenced month. You pay the interest and fees for the pawn loan at the end of the three-month term, regardless of whether you wish to redeem the pawned item or extend the loan.
The legal interest rate is 1% of the loan per month, and the monthly fees are determined by the loan amount.
Do I incur a debt with a pawn loan?
In principle, no. “Debt” means there is an obligation to repay this in full with interest at an agreed time. It generally also means your liability extends to all your property.
With a pawn loan, liability is limited to the pawned item, and you yourself decide whether and when, during the term, you wish to reclaim your property through repayment. By paying the interest/fees, you also determine whether you wish to extend the contract. If you don’t want your pawned item anymore, it will be sold at an auction in your best interests, with any additional proceeds credited and paid out to you, the “seller”.
Do you obtain information from the German General Credit Protection Agency (Schufa) about me?
No, we do not conduct any credit checks, nor do we enquire with Schufa or any other information bureaus. You don’t need to submit income statements either. All we require is that the pawned item be your personal property.
Can I extend the loan beyond three months?
Yes, you are welcome to extend the loan beyond the three-month term. You simply need to pay the interest and fees due up to that point in cash at our shop or by bank transfer, and the contract will then be extended for a further 3 months. This process can generally be repeated until you wish to reclaim your property.
How secure are my valuables?
We guarantee professional storage of all valuables at our pawnshops thanks to high-security facilities, such as maximum-security safes/vaults, access restrictions through biometric scans at the manlocks, guard services, and smash-proof glass on all panes. Legal regulations oblige every pawnbroker to adequately insure all pawned items against any eventuality.
What do I do if I lose the pawn ticket?
Please immediately report the loss to us so we can place a restriction notice on it. As the pawn ticket is considered a contractual document, an unauthorised party may otherwise be able to collect your pawned item. The item may only be redeemed upon presentation of ID.
You are welcome to report a loss to any of our shops.
Is my data forwarded to third parties?
Our philosophy of “discretion is a matter of honour” applies at all times.
If you pledge your property, all information is treated as confidential by our pawn shop, and is not forwarded to third parties, e.g. the German General Credit Protection Agency (Schufa).
The borrower assumes no personal liabilities! The loan is guaranteed solely by the pawned item.
What happens to the auction proceeds?
Any additional proceeds are of course passed onto you. Any loss is borne by the pawn shop. If the additional proceeds are not collected, the pawn shop must pay these to the federal government after three years.