Jewelry Pawn Shop | Pawn Jewelry Online | Diamond Banc

Jewelry Pawn Loans

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WHY DIAMOND BANC?

  1. Highest Loan Values & Lowest Borrowing Costs In The Nation.
  2. Borrow Funds As You Need. Credit Line Flexibility.
  3. Payments Above Minimum Interest Are Applied To Loan Balance.
  4. Automatic Payment & Digital Reminders.
  5. Items Are Insured While In Transit & In Our Possession.

Why Choose Diamond Banc Over A Traditional Pawn Lender?

  • High Loan Amounts: Diamond Banc’s staff are true jewelry experts, who take every value-adding factor into consideration to offer you the maximum loan amount. We are in the business of loaning money and want to loan our clients the most money possible. In addition, the majority of pawn lenders do not have the capital on hand to make large loans. Diamond Banc regularly makes loans from $20,000 – $250,000 and has the ability to fund transactions up to $1,000,000.
  • Our Loan & Buy Offers Are The Same: Most pawnshops will offer to loan you less for your item than they will buy it for. This policy does not make sense to us! At Diamond Banc, our loan offer and buy offers are almost always the same.
  • Significantly Lower Interest Costs: Diamond Banc typically charges 50% – 80% less than the standard pawn industry interest rates allowed by law.
  • We Want You To Get Your Items Back: Diamond Banc has plenty of its own jewelry and we want you to get yours back! With most jewelry pawn loans, every 30 days clients can pay only the interest due or all of the principal plus the interest due. This payment structure is beneficial for the pawn lender; however, for the borrower, it can be detrimental. With a loan from Diamond Banc, providing your loan charges are current, any extra amount that you wish to pay goes directly towards your pawn jewelry loan’s principal balance, thus lowering your monthly interest costs moving forward.
  • Loan Re-Advancements: Let’s say you borrowed $10,000 against your Rolex from Diamond Banc and have paid down your balance to $3,000, which is not an option with most standard pawn jewelry loans. After you have paid down your balance and something else comes up, Diamond Banc can then increase your loan by re-advancing you the $7,000 you paid back. By re-advancing the pawn jewelry loan funds, this brings your loan balance back up to the original $10,000. You can draw your loan up as often as you wish, and carry your balance as long as needed, providing your interest charges have been paid as agreed and your loan is in good standing.
  • Your Items Are Insured: If you read the fine print on most pawn lender’s paperwork, you will discover that your item is not insured in the event of a loss or theft during the life of your loan. At Diamond Banc, all loan collateral used for a pawn jewelry loan is insured for the amount of the loan, or sometimes for more during your loan period.

Diamond Banc Equity Loans

Traditional Jewelry Pawn Loans

Industry experts offering an ultra-high loan to value ratio

Conservative loan amounts

Additional loan principal payments encouraged

Stringent repayment structure, discouraging principal payments

We want our clients to redeem their collateral

Hope loans are not redeemed and added to inventory

Clients can draw loan balance up and down and can have access to their jewelry via collateral exchange during the loan period

Rigid loan structure, benefitting the lender, not the borrower

Customizable and automatic loan repayment terms encouraged

Antiquated loan servicing

Low rate guaranteed

High interest and loan fees


How Are Diamond Banc’s Jewelry Pawn Loans Structured?

Our jewelry pawn loan structure is designed to be quick, efficient, and secure. The pawn jewelry loan process is as follows:

  • Once the collateral is received and verified, all loan documents are completed, then the funds will be issued via immediate check or wire transfer.
  • For the duration of the jewelry pawn loan, your collateral is stored in our insured vaults.
  • Once your loan is repaid in full, the collateral is promptly returned to you.
  • If you choose to do so, your loan balance can be drawn up and down as needed, much like a traditional line of credit.

Borrowing money from Diamond Banc against your Rolex, diamond, or fine jewelry is a much smarter option rather than from a traditional pawn lender. Getting a loan against your jewelry from Diamond Banc is generally a more cost-effective option than pawning your jewelry in the traditional sense. Whether you looked for “jewelry pawn loans near me” or something else, Diamond Banc is not limited to a certain location and provides loans to customers all over the country. With our efficient system, we can have you funded in as little as 24 hours and our process is simple, fast, and secure. Diamond Banc is the number one online jewelry pawnbroker! In today’s digital world, you can consider us the best jewelry pawn lender near you. Diamond Banc prides itself on having the best pawn jewelry loan program in the nation.

Diamond Banc Jewelry Equity Loans simultaneously offer customers unmatched value and flexibility. Clients simply pledge their jewelry as collateral and the jewelry is then kept safely locked away in our secure vaults. Once the loan has been repaid by the client, their items are immediately returned.


Terms of Your Jewelry Pawn Loan Outlined

  • Your loan is a 30 day loan that can be extended for as many 30 day periods as needed, as long as the minimum monthly cost of funds is paid every 30 days.
  • As soon as the pawn jewelry loan is originated, the first 30 day billing period is accrued. This amount is then due 30 days from the date of origination. The cost of funds is accrued in full 30 day periods and is not prorated.
  • Since not every month has exactly 30 days in it, the due date will move forward over time – it is advised to schedule your payments before the official due date.
  • The minimum cost of funds is not applied towards the principal balance.
  • To reduce your loan balance, you must make a payment above your minimum monthly cost of funds. It is your responsibility to contact our office to arrange additional principal payments during your loan. Your loan is only eligible for principal payments providing it is in good standing and no unpaid cost of funds is due.
  • The length of the loan is solely dictated by you. Take as little or as long as you need to repay the principal balance.
  • We have clients secure the minimum monthly cost of funds payment via credit/debit card, which is automatically processed each month. This keeps the account current and in good standing.
        

Explaining Our Jewelry Pawn Loan Costs

Diamond Banc’s average pawn jewelry loan size is small and the duration of our loans is much shorter than traditional loans. As a byproduct, our rates must be greater than traditional loans. Our average loan is approximately $6,000 and is repaid within 6 months. By contrast, a 25 – 30 year mortgage bears a lower interest rate because the amount financed is greater and the repayment term is significantly longer. On a typical home loan, a person pays hundreds of thousands of dollars in interest and 80% of early mortgage payments go towards interest. The majority of credit card balances are carried for years and still bear a notable interest rate.

The collateral we accept is not accepted by traditional banks. The luxury market and the value of your pawn jewelry loan collateral can quickly change and we must be compensated for this risk. In addition, it takes a unique, expert skill set to evaluate and verify the collateral we lend against.

Our pawn jewelry loans are non-recourse, meaning if you don’t pay the loan back your credit is not affected. If you default on your loan with Diamond Banc, nothing negative happens outside of you forfeiting your ownership in the pledged collateral.

Diamond Banc’s own cost of capital is above market benchmarks due to the specialized type of lending we engage in. Obviously, we must charge above our own cost of funds to cover overhead, justify the risk and allow for a return.

Diamond Banc pawn jewelry loan products are ideal options for people wanting to borrow money for 1 – 6 months. We do not recommend using our loan service for long-term financing.

In most cases, Diamond Banc charges 50% – 80% less than what is allowed by law for the type of loans we make and what other pawn lenders are charging their pawn jewelry loan clients.


How Does a Traditional Jewelry Pawn Loan Work?

There are many misconceptions about pawn jewelry loans and what pawning your jewelry actually means. In the traditional sense, pawning a piece of jewelry is simply pledging the item for collateral and borrowing money against it. Pawning your jewelry does not mean that you are selling the item, although most pawn shops offer that service as well. The universal pawn symbol, which features three globes, stands for “Buy, Sell, Trade”. Pawning jewelry is actually a form of asset-based lending, which is the oldest type of lending structure. Asset-based lending is offered more widely in countries outside of the United States. Pawning jewelry has earned a questionable reputation because oftentimes the general terms provided are pro-lender and the client experience is often unpleasant.


What is the Structure of a Traditional Jewelry Pawn Loan?

  • The borrower pledges a piece of jewelry as collateral for a pawn jewelry loan and the pawnbroker holds the collateral in their possession for the duration of the loan. The pledged piece of jewelry should be free of title, debt, or encumbrance from the borrower prior to pledging.
  • The loan value offered by the pawnbroker varies greatly based on their product knowledge, liquidity position, and ethics, but is often 15% – 30% of the original purchase price of the jewelry. In the event the loan is not repaid, the pawnshop wants the ability to quickly sell the item to a wholesale jewelry dealer.
  • In most cases, the loan interest accumulates in 30 day periods and is not prorated by the day like a traditional loan (e.g., car loans). This means that if you borrow the money for 1 day or 29 days, the interest cost is the same.
  • At a traditional pawn lender, every 30 days you can either pay just the minimum interest required, or the entire principal balance plus the interest that has accumulated. This is unlike a traditional loan, where the borrower can pay over the required payment to have the funds go towards the principal balance, thus lowering their interest expense
  • Depending on the state and jurisdiction governing the pawn loan, missing 1 to 3 payments results in the client defaulting and forfeiting ownership of the pledged collateral.
  • It is the client’s responsibility to make their payments every 30 days and the pawnshop will usually not follow up with the client to ensure that their account is up to date.
  • The fine print on most pawn tickets states that your item is not insured during your jewelry pawn loan, therefore if it is lost or stolen then you are without your item.
  • Oftentimes, the pawn lender will have the piece of jewelry in their showcase with the intent of pre-selling the item in the event the loan defaults.
  • An advantage of any jewelry pawn loan is that it is non-recourse, meaning it does not affect your credit in the event you do not repay the loan because the loan is solely secured by the item pledged as collateral. Often, income verification and credit checks are not required to obtain the loan.

What is the Cost of a Jewelry Pawn Loan?

The monthly charges of a pawn jewelry loan often include storage fees, insurance, and interest. Generally, these three components equate to the pawnshop collecting all of the funds as one bundled rate of “interest”. The maximum pawn charges are determined and governed by each state and vary widely. These interest rates generally vary from 36% APR to 300% APR. Pawn loans are often explained and sold by the monthly cost of funds, such as 3% per month, up to 25% per month.


If you are looking for a pawn jewelry loan, complete our form online or visit one of our Diamond Banc locations in Tampa, Boca Raton, Miami, Orlando, Nashville, Kansas City, & Columbia.

What We Loan On

Diamond Banc is a trusted, national jewelry lender, offering online short-term jewelry equity pawn loans for people who wish to use their jewelry as collateral.

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Jordan-Isaacs
Meet Our National Director of Funding

Jordan Isaacs

Jordan Isaacs is the National Director of Funding for Diamond Banc’s corporate office. His primary focus is to ensure that our clients receive the best experience possible while evaluating their items for immediate sale or loan services. Jordan is an expert communicator with prompt and informative follow-up. His unique skill set and expertise allow him to provide the highest offers in the industry, financing options catered specifically to our clients, and exceptional service. Please call us or make an online submission to begin working with Jordan.

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