Beverly Hills Pawnshop

The customers get out of their BMWs and Bentleys and pop into the Beverly Hills pawnshop called “Valencia Loan Company” located at near the corner of Rodeo Drive and Dayton Way in Beverly Hills (9564 Dayton Way to be exact). Wait a minute. Did you say Pawn Shop? Yes. Likewise, Rolex, Cartier and Tiffany are brands associated with Rodeo Drive, but images of these brands don’t tend to instantly flash into one’s mind when thinking of a pawnshop. Yet those are a few examples of the brand names that their clients bring. The company specializes in granting loans and holding high-end jewelry, watches and gold as collateral.

Incorporated in 1957, Valencia Loan Company, Inc. is the “Pawnshop of the Rich and Famous.” Hey, even TV stars need to make ends meet sometimes. Reality shows have taken a lot of their jobs, after all. Besides, have you checked out a monthly payment on a Rolls Royce, lately?

They buy, sell, and most importantly, make loans on jewelry, watches, precious metals and coins. High-end stuff only, please. After all, this is Rodeo Drive.

The President of Valencia Loan Company says he has had a multitude of famous personalities and businesspeople for customers – buying, selling and borrowing. “Let's just say we have some very well known clients," he says. “But our client list is top secret. We have had members of the press ask us to name names but our client’s identities are off limits. Our reputation for privacy is what keeps our clients coming back again and again.”

“We had a 15 year run of prosperity in this country. A vast majority of our high-end clients amassed luxury items during this period. Now, with bank loans harder to acquire than any time recent memory, people of all walks of life are looking to alternative financing methods. Those who have them can use their luxury goods as loan collateral. That’s where Valencia Loan Company comes in. We are experts and ascertaining the value of these items. Our management has decades of experience in appraising jewelry and other luxury goods. So, we have clients walk into our Beverly Hills pawnshop with a diamond or a bag of gold and walk out with a few of months of mortgage payments.”

Many customers of the pawnshops in recent times have been professionals, the majority of whom have never entered a pawnshop. "We have a lot of brokers, small businesspeople and the like really having a hard time making ends meet these days,” he says.

The employees of many pawnshops are often newbies as well. One real estate salesman, who wanted to remain unnamed, said that he chose to apply for a job at a pawnshop when he saw one client of his after another get turned down by banks. “I knew I wasn’t going to be making much of a living in real estate for a while. So I sheepishly walked into a Beverly Hills pawnshop and borrowed a few thousand dollars on my Rolex watch. I got to talking with the pawnshop owner about employment and before I left, I walked out with a loan check and a job.”

According to the National Pawn Brokers Association website, pawnbrokers made loans to over 25 million consumers last year. Their website goes on to say, “Our customers represent the working families of America who have an unexpected need for a short term loan. Pawn loans keep the electricity on, rents paid and cars working.”  With the current economic downturn, the industry has also been attracting a new segment of society, the middle and upper class. If a loan is not timely paid, the shop can foreclose on an item and offer it for sale to the public. Thus, pawnshops also attract bargain hunters looking for discounted prices on previously owned items.

Cooperating with law enforcement is also an important aspect of operating a pawnshop. The industry is generally required to obtain identification and a thumbprint when purchasing an item or granting a collateralized loan. This procedure is to help prevent transactions with stolen goods.

As the oldest type of financial institution, pawning carries a history that can be traced back to at least 3,000 years ago in ancient China. Their use in commerce has also been revealed in ancient writings of Greece and Rome. With the number of bank failures in recent times, perhaps history repeats itself.

Valencia Loan Company, the Beverly Hills Pawnshop, (and Santa Clarita Pawnshop) can be reached for a private appointment by calling 310-276-LOAN (310-276-5626). Call for free information to see if a collateral loan is right for you. Make an appointment at a convenient time. Then, to arrive for your appointment, take Wilshire Boulevard into Beverly Hills. Turn on Rodeo Drive into the entrance of the shopping district, then take an immediate right onto Dayton Way. You will find a free valet parking garage. After parking, walk along Dayton Way back toward Rodeo Drive. Take the crosswalk across Rodeo Drive and take the short stroll to 9564 Dayton Way. VLC shares an office with a high-end watch dealer named "Philippe’s Watches."