San Diego Luxury Pawn Shop Report

Gold Fuels Pawn Shop Boom

2010-02-02T05:35:44Z

KPLC TV News is reporting that the high price of gold has local pawn shops booming, as more people dig through their jewelry boxes for gold items they can trade or sell for cash. The Lake Charles news team interviewed a local pawn shop owner who says more customers are finding gold and pawn shops a great combination, especially since it’s hard to get fast cash from banks and other lending institutions.

“A lot people have single earrings, broken rings or necklaces that they’re not going to repair,” said the pawnbroker. “With the record price of gold now, a lot of times they’re pleasantly surprise with how much they can get for it.” He also advised customers to go local when you put your gold items on the market.

Many people are also mailing in their gold to companies who advertise frequently on television. Recently several of these businesses have come under intense scrutiny. New York Congressman Anthony Weiner (D-NY) has even called for the Federal Trade Commission to look into one company’s “deceptive practices,” after hearing several complaints from sellers who say the company didn’t give them the promised price for their gold.

And all experts agree (including us at the San Diego Luxury Pawn Shop Report) that before selling or trading to any gold buyer, consumers should get several quotes from different brokers.

San Diego Buyer Predicts Strong Prices for Gold, Gold Jewelry, & Scrap Gold

2010-02-02T05:15:49Z

Although the U.S. economy and the dollar remain on shaky ground, many analysts are predicting that one thing will remain strong during 2010: the price of gold. One of those analysts is Carl Blackburn, owner of San Diego Jewelry Buyers (SDJB). “In early December we saw the price of gold break the $1200 an ounce barrier, and ever since then it’s been fluctuating around the $1100 range,” says Blackburn. “The price is now starting to spike, and we may just see it breaking the $1200 mark again soon.”

According to SDJB, the strong price of gold can help consumers weather the current economic downturn in two ways. For investors looking to store their wealth, gold provides an attractive alternative to the stock market or real estate. And for consumers and small businesses seeking quick cash to pay off outstanding bills, now is an excellent time to be selling your scrap gold, outdated gold jewelry, or other gold assets.

For those looking to sell gold, Blackburn says that San Diego Jewelry Buyers consistently pays customers between 50% to 100% more than other gold buyers and pawn shops in the San Diego area; and as much as 400% more than some of the well-known national gold buyers who advertise on TV. “Our business model is based on low overhead, large volume, small margins,” says Blackburn. “It works for us, and it works for our customers. We make enough to operate with a profit, and the end-consumer ends up with a lot more money in their pocket.”

But Blackburn is quick to add that customers shouldn’ t just take his word for it. San Diego Jewelry Buyers encourages people to shop around and do their homework, such as examining closely gold buyer reviews. SDJB also offers the following tips for finding a reputable gold buyer who will pay you top dollar:

1) Be wary of high-end retail stores in high-rent locations advertising to buy gold. The common misconception is that the better the location and quality of the jewelry store, the more money they have to pay you for your gold. Actually, the more overhead they have, the more profit they need to make on your transaction, thus the less money you will get for your gold.

2) Call gold buyers by phone and get a feel for how they answer your questions. Most likely if the phone call goes smoothly (no telemarketing feeling, or snobby, or secretive voice on the other end), then your face to face transaction will also go smoothly.

3) Check out the gold buyer’s website. If it is sloppy and disorganized, then it’s likely that their business is too.

To learn more about selling your gold in San Diego watch KUSI TV’s special report, “Selling Your Gold? Don’t get scammed!”, where Emmy-award winning reporter Sasha Foo interviews Carl Blackburn about how to sell your gold smartly.

To schedule an appointment with SDJB call 800-557-9413 or visit SanDiegoJewelryBuyers.com.

Pawn Shops See Business Spike for Diamonds & More

2010-02-02T04:48:29Z

The Telegraph Herald Online and Reuters are reporting that all across America, pawn shops have seen spikes in their business due to tougher economic times. We here at the San Diego Luxury Pawn Shop Report would certainly concur with that report, especially when it comes to diamond jewelry and items made of gold or other precious metals. In the TH Online article they publish a useful Q & A. The following is a sample.

Question: How does a pawn work?

Answer: A pawn is another term for a collateral loan. Pawnbrokers lend money on items of value ranging from gold and diamond jewelry, musical instruments, televisions, electronics, tools, household items, firearms and more. Some pawn shops might specialize in certain items. Loans are based on the value of the collateral. When a customer pays back the loan, his or her merchandise is returned. A customer also could choose to surrender your collateral as payment in full. Pawn shops may offer extensions/renewals (where permitted by state law).

Question: Why would someone go to a pawnbroker to get a loan?

Answer: Pawnbrokers offer the consumer a quick, convenient and confidential way to borrow money. A short-term cash need can be met with no credit check or legal consequences if the loan is not repaid. Pawnbroking imposes a discipline on the borrower that other lenders do not. Pawn loans do not cause people to overextend credit or go into bankruptcy.

Question: How much should I expect for a loan on my item?

Answer: Loan amounts vary according to the value of the item. There is no minimum dollar amount allowed on a pawn transaction but the maximum amount might be set by state pawn laws. Your loan amount will be determined according to other factors as well such as demand and condition of the item. Not all pawn stores are the same and price will vary.

To read the rest of the Q & A, please check out the article by clicking on: Pawn Shop Q & A.

SDJB Opens Diamond, Jewelry, & Watch Vault for Christmas Holiday Shoppers

2009-12-14T02:58:34Z

San Diego Jewelry Buyers (SDJB), California’s premier luxury pawnbroker of fine gold jewelry, diamonds, Swiss watches, and other luxury assets, has announced that it is opening up its vault for the holidays to help shoppers seeking extraordinary jewelry and gemstones. “While we often sell certain pre-owned items directly to consumers, we’ve decided to allow San Diegans to purchase some of the truly amazing jewelry, diamonds, and watches that we usually reserve for collectors and private investors around the world,” says Carl Blackburn, owner of SDJB.

In the couture jewelry and diamond category, San Diego Jewelry Buyers’ offerings include a round 6.00 carat G, VS1 diamond for $275,000; a radiant cut 5.12 carat Fancy Yellow Diamond ring for $82,500; a round 10.01 carat K,VS2 diamond for $210,000; and a round 10.03 carat I, VS1 diamond for $420,000.

In the fine mechanical watch category, San Diego Jewelry Buyers offerings include a Men’s Pre-Owned (2001) Rolex Masterpiece Special Edition. This unique platinum timepiece is priced at $50,000, and includes a full diamond bezel and diamond dial. Also available to the horology connoisseur is a Men’s Pre-Owned (2004) Patek Philippe 5040. Priced at $55,000, this timepiece is crafted in 18K yellow gold and comes with a leather band.

San Diego Jewelry Buyers also has more modest mechanical watches and fine jewelry available for holiday shoppers. “We have thousands of loose diamonds in our inventory,” says Blackburn, “plus a wide selection of estate and vintage jewelry. In other words, our vault can more than match the expectations of almost any budget or discerning need.”

Of course, San Diego Jewelry Buyers is also available to purchase or provide an instant collateral loan on any gold, jewelry, or watch item for customers who need extra funds this holiday season. “We are open to purchase any product that is made from gold, silver, or platinum, or which has been set with diamonds or gemstones,” says Blackburn.

Located in downtown San Diego, within the Jewelers Exchange Building, San Diego Jewelry Buyers has been in the luxury pawnbroker and jewelry buying business for over thirty years. Their reputation is such that KUSI TV News chose to feature them in a news program aimed at helping consumers choose a good gold buyer. To find out more about what items SDJB has for sale or how they can help you get instant cash with no credit check, call them toll-free at: 800 557 9413.

For more information about the company, visit their website at SanDiegoJewelryBuyers.com.

Located at the Jewelers Exchange Building in the gas-lamp quarter of downtown San Diego, SDJB leverages over 30 years of industry experience and fine jewelry expertise to make certain that customers receive the fairest cash offers and loans for their diamond/gemstone jewelry, and premiere brand watches.

Why Gold Remains Hot

2009-12-02T07:13:03Z

San Diego gold investors and gold sellers take note that Business Week has an excellent interview online with commodities guru Jim Rogers, creator of the Rogers International Commodities Index, wherein he talks about gold’s current popularity.

Here is an excerpt:

MARIA BARTIROMO

Gold, as you know, hit an all-time high today, with the Russian central bank buying bullion. How high can gold go?

JIM ROGERS

Well, I own gold and I have for a while. How high can it go? I fully expect it to be over a couple thousand dollars an ounce sometime in the next decade—I didn’t say the next month, I didn’t say the next year, I said the next decade—because paper money around the world is very suspect. But right now everybody’s bullish on it, so I don’t like to buy things when that’s happening. But I’m not selling under any circumstances.

What’s behind the runup? Has buying by the central banks changed the equation here? Or is this still a demand story?

Certainly a demand story because, as I said, everybody’s printing so much money and people around the world are worried about that. But you also have central banks, which five years ago were selling gold, now buying. So that’s a huge shift in the marketplace. Central banks are like lots of other people—they just follow the crowd. There are probably better commodities to buy than gold, but you can’t tell that to central banks because they’ve got gold on the brain.

To read more, go to: Why Gold is Glittering.

San Diego Luxury Pawnbroker Reaches Out Into New Affluent Markets

2009-12-02T06:56:09Z

San Diego Jewelry Buyers (SDJB), California’s luxury pawnbroker and diamond buyer of choice, is extending its market reach with a new advertising campaign that targets high net-worth professionals in Rancho Santa Fe, Solana Beach, Carlsbad, Del Mar, La Jolla, and other affluent communities in the region. SDJB has begun the campaign with a featured ad in the latest issue of Ranch & Coast, San Diego’s luxury lifestyle magazine.

“In the past, we have reached out to professionals in Olivenhain, Carmel Valley, Santaluz, and other affluent areas primarily through our website SanDiegoJewelryBuyers.com,” says Carl Blackburn, owner of SDJB. “But since our website is now well-established, we are taking some of our rather modest advertising budget to place ads in a select group of leading luxury lifestyle magazines.”

According to Blackburn, San Diego Jewelry Buyers only allocates a small amount to advertising (versus the millions that national jewelry and gold buyers spend) so that it can pay clients more for their fine jewelry, diamonds, gold, and premier brand watches. “At SDJB we see ourselves as more than just a buyer of fine jewels or an elite luxury pawn shop; we are a hands-on financial services provider; and that means keep our operating costs down to a minimum, so that we can provide better collateral loans and higher buying offers.”

Ranch & Coast magazine was chosen to start SDJB’s new advertising campaign because the popular publication reaches into not only San Diego’s most affluent zip codes but also luxury hotels and premier news-stands across California, Arizona, and Nevada. This advertising push beyond San Diego County coincides with SDJB’s recent free courier service to sellers of diamonds and other luxury estate assets in Arizona cities such as Phoenix, Scottsdale, Glendale, and Tempe.

Featured by KUSI TV News as a trusted gold jewelry buyer, SDJB has been buying high-branded assets such as Tiffany jewelry, Rolex watches, and Harry Winston diamonds for over 30 years. Located conveniently within the San Diego Jewelry Exchange, the company also helps customers who seek custom-made engagement rings set with large estate diamonds. “Whether you’re someone who wants to buy bespoke jewelry or sell a Cartier necklace, we encourage you to call SDJB first,” says Blackburn. “We are here to help you with any decision related to the buying or selling of precious metal and diamond assets.”

Please call SDJB toll free at 800 557 9413f or a free consultation or visit them online at SanDiegoJewelryBuyers.com.

The Buying & Selling Gold Frenzy

2009-12-02T06:40:42Z

The Associated Press is reporting that gold’s remarkable run has implications far beyond smart investors. In New York’s diamond district, more people started showing up late last year to sell their gold, and the crush hasn’t let up, said Anthony Iannelli, owner of Iannelli Diamonds.

“They’re bringing in jewelry from the ’70s and ’80s they don’t wear anymore,” he said. “They’re following the news and see prices are high. They realize they have a little cache, and want to take it out of the vault.”

Typically, gold is a safe place for investors to park their money, says the AP, not something they buy to make money. It doesn’t earn any interest, and because it’s always sought-after, its value tends to be fairly stable. For example, when gold first reached $1,000 it was in March 2008, shortly after the collapse of investment bank Bear Stearns. Investors bought it up then because they feared for the stability of the financial system.

This time is different. Investors — think of them as the ‘09ers — are buying gold to protect themselves against the falling dollar. Currencies are weak investments around the world because of record-low interest rates. Foreign banks that hold substantial amounts of U.S. debt, such as China’s, want to diversify their holdings. News earlier this month that India’s central bank bought nearly $7 billion worth of gold from the International Monetary Fund triggered a frenzy of gold buying.

The surge has been remarkable. Gold is up 7 percent just this month, and 26 percent for the year. Some forecasters see it going to $1,200, $1,500 or beyond — unless the buying frenzy comes to a halt. That is good news for folks in San Diego looking to sell their old gold jewelry and other gold items.

The Year’s Biggest Watch Auction

2009-12-02T06:18:00Z

Bloomberg is reporting that Christie’s International raised 19 million Swiss francs ($19 million) in the biggest watch auction this year. Included in the lots was a collection of 10 Patek Philippe watches for almost double the low estimate.

Nine of the top 10 lots were Patek Philippe, and one was Rolex, in the auction that took place in Geneva. Christie’s estimates the entire sale to raise 10 million francs to 15 million francs.

The most expensive timepiece was a Patek Philippe 18-carat gold watch with a calendar that adjusts for leap years, sold for 2.4 million francs to a Swiss museum, Christie’s said. The collection of Pateks sold for 5.8 million francs.

Watch auctions have been successful, reports Bloomberg, even as Swiss watchmakers suffer from the worst recession since the Great Depression. Rare pieces continue to attract more demand than newly made watches, as Swiss watch exports have dropped 26 percent in the first nine months of this year in value.

A Sotheby’s auction of timepieces in the same Swiss city on Nov. 15 raised 5.1 million francs, within the auctioneer’s estimated range of 4.15 million francs to 5.71 million francs.

In other watch news, the family that controls Porsche SE, the maker of the 911 sports car, is selling watches from its private collection at a charity auction in London today.
Ferdinand Alexander Porsche and his sons have entered 49 watches into a sale to be held by Bonhams on Dec. 2.

The group includes examples by Eterna, Porsche Design, Rolex, Panerai, Jaeger LeCoultre, Breitling and Omega, is expected to fetch 100,000 pounds. Proceeds will be donated to the oncology research department of the Robert Bosch Hospital, Stuttgart, Germany, said Bonhams.

San Diego Pawnbroker & Gold Buyer Reports Rise in Large Cash Loans

2009-09-30T11:29:55Z

San Diego Jewelry Buyers (SDJB), the elite pawnbroker of San Diego County, has reported 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 San Diego Jewelry Buyers, the rise in its large instant cash loans is due to a combination of factors: the privacy SDJB ensures its clients; the fact that no credit check is required; continued lending restrictions among banks; and the ability his company has to offer significant cash loans on the spot.

“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,” he adds. “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.”

According to San Diego Jewelry Buyers, the company will accept any luxury asset for collateral that is fashioned from precious metal (gold, platinum, or silver) or which includes precious gemstones, such as diamonds, sapphires, and emeralds. SDJB also offers large cash loans on exceptional timepieces, providing generous valuations on exclusive brands such as Rolex, Cartier, Patek Philippe, Panerai, and Audemars Piguet, as long as the hard market value of the watch qualifies for the company’s minimum loan amount of $2500. For loans below $2500, the company recommends customers use one of the many jewelry pawnbrokers in San Diego that require no minimum.

“We have a special interest in many top shelf brands of Swiss timepieces,” adds Blackburn. “And our staff has decades of experience evaluating the real worth of these mechanical works of art. A rare or vintage timepiece could still qualify a client for a substantial loan, even if the piece is not fashioned in gold or platinum.”

The process for receiving an instant collateral loan from San Diego Jewelry Buyers is described as follows:

1. Call or email SDJB to set an appointment.
2. Bring in your valuable items.
3. SDJB’s qualified consultants will appraise your items while you watch.
4. You will receive cash on the spot against the value of your items.

To learn more about SDJB and read about the personal experiences of their customers, as well as view a TV news program which features the company, please visit them at: SanDiegoJewelryBuyers.com.

Swiss Watchmaker: Patek Philippe

2009-08-31T03:10:59Z

The old company saying at watchmaker Patek Philippe is that “You never actually own a Patek Philippe. You merely look after it for the next generation.” And most “owners” of a Patek Philippe wristwatch would agree. The family-run watch company based in Geneva is truly in a class of its own. Established in 1839, the company has fashioned such highly sought after watch collections as Calatrava, Ellipse, Nautilus, Gondolo, Aquanaut, and Twenty~4.

Known worldwide for its complicated watches and its timeless elegant designs, Patek Philippe has been producing timepieces cherished by monarchs, popes, political leaders, and rulers since the reign of Queen Victoria. It all started in 1851, when Victoria acquired a key-wound Patek Philippe watch created in a pendant style during the Great Exhibition of London. Soon Patek Philippe was regularly supplying its watches to her Majesty and her consort, including one exclusive timepiece that was suspended from a diamond and enamel brooch to be worn pinned to the Queen’s clothing.

Victoria’s fascination with Patek Philippe quickly attracted the attention of all the royal courts of Europe. The Swiss company began creating timepieces for such notables as Pope Pius IX, Christian IX and Louise (the king and queen of Denmark), Victor-Emanuel III (king of Italy and Duke of Savoy), and Hussein Kamal (prince of Egypt in the period of 1914-1917).

For its 150th anniversary in 1989, Patek Philippe created one of the most complicated mechanical watches ever made, the Calibre 89. This amazing timepiece holds 33 complications, including the date of Easter, a thermometer, time of sunrise, equation of time, sidereal time, and many other indicators. 1,728 unique parts allow for sidereal time, a 2,800 star chart, and much more.

Today, vintage Patek Philippe wristwatches regularly command the highest prices at watch auctions around the globe, some selling for well over US $1 million. If you are lucky enough to be in the possession of a Patek Philippe watch take care of it very well for the next generation of your family. And should you ever decide to sell one be sure to go to an experieced watch buyer who understand the full worth of these mechanical works of art.