Source: TVGuide.com

Discovery Channel is putting a new spin on the popular pawn/auction genre. The cable network has picked up the series Final Offer, which pits four experienced dealers from the world of art and antiques against each other.

Final Offer, which premieres Thursday, May 31 at 10/9c, centers on rival dealers Jacob Chait, Patrick Painter, Billy Roland and Jordan Tabach-Bank as they battle and bid for big-ticket items. The dealers will use their own money and personal expertise to duke it out for historical artifacts and original artwork, as well as pop culture items like rock-star instruments and film props.

For sellers, it’s a chance to land big bucks from one of the four buyers. But there’s a catch: If a seller passes on a bid (in the hopes that another buyer will offer more cash), there’s no going back. They might end up with lesser offers — or none at all.

Discovery calls the show “an intense and dramatic high-stakes face-off.” Michael Kalish is the host of Final Offer, which comes from FremantleMedia North America. George Moll (Kirstie Alley’s Big Life) executive produces.

When it comes to securing a pawn loan on high-end or luxury items, savvy consumers provide more information about their collateral than one might think. While Beverly Loan Company has experienced GIA trained gemologists, and expertise in art and memorabilia, it is always recommended that any item is accompanied by as much documentation as possible. Providing detailed authentication helps borrowers secure the largest pawn loans possible.  

Jordan Tabach-Bank, CEO of Beverly Loan Company, recommends that his customers bring all related documentation with them when making a pawn loan. “We specialize in making large dollar loans on unique items, so we need as much information as possible about the items that we loan against,” said Tabach-Bank. “Providing provenance, including certificates of authenticity, appraisals, auction records and sales receipts, expedites the authentication process and helps our clients receive the most money for their items.”

For all pawn loans, personal identification is the first and most important item required. Most government issued identification will suffice including a passport, State issued identification or drivers license, a foreign passport with an additional identification bearing an address or a Matricula Consular with an additional identification bearing an address. In addition, Beverly Loan Company always requires a physical address where notices can be sent.

Beverly Loan offers pawn loans on fine jewelry and luxury watches, including estate jewelry, diamonds and fine gems. When securing a pawn loan on collateral of this nature, laboratory certifications are extremely helpful especially with respect to high-end diamonds and colored stones. Certifications should be from prominent sources such as the Gemological Institute of America (GIA), American Gem Society (AGS), European Gemological Laboratory (EGL), International Gemological Institute (IGI), Gubelin Gem Lab or American Gem Trade Association (AGTA). GIA is the most common and trusted source for laboratory certifications.

With certain brands such as Rolex, Cartier, Tiffany and Co., Van Cleef & Arpels, Harry Winston, Chopard, Bvlgari, Patek Phillipe, Hublot, Panerai, IWC, Audemars Piguet and Chanel, retaining the original packaging is essential and can have a tremendous impact on the final loan amount.  All original jewelry, watch or fine gem packaging, boxes and documentation can not only be very helpful in determining authenticity but also increase the value of the item – thereby increasing the potential pawn loan amount.

Fine art, especially contemporary or modern, is of great interest to Jordan Tabach-Bank. “The true value of art often relies on its provenance,” he says. “It’s important to provide any documentation relating to your fine art. We need to prove how the artwork got from the hand of the artist to the hand of the borrower.” Documents that support authenticity and provenance include gallery receipts, auction records (Christie’s, Sotheby’s, Bonham’s, etc.), appraisals or certificates of authenticity.

Beverly Loan Company will also make pawn loans against sports, entertainment or political memorabilia. In order to verify the authenticity of these types of items and guarantee the highest loan amount, it is recommended to provide sales receipts, auction records, appraisals or certificates of authenticity. For sports related items, 3rd party authentication companies such as Professional Sports Authenticator (PSA/DNA), James Spence Authentication (JSA) and Online Authentics are trusted sources. Also approved dealers, such as Upper Deck Authenticated, Steiner Sports, Mounted Memories, Tristar Productions or GT Sports Marketing (GTSM) are valuable reference points to determine authenticity and value. Determining entertainment memorabilia value can be difficult due to the ephemeral nature of these types of items. However, value, history and provenance can be established by providing auction records from trusted auction houses such as Julien’s Auctions, Heritage Auctions or Profiles in History.

The common theme among all genres of collateral is the more documentation the better. Tabach-Bank says, “When in doubt, bring it in.”

Some U.S. pawnbrokers are taking liquid assets – literally.

Along with family jewels and fine art they will accept wines as collateral for loans to help ease cash shortages of businesses and people on all rungs of the economic ladder.

“You’d be amazed by how many wealthy individuals have terrible credit ratings,” said Jordan Tabach-Bank, head of Beverly Loan Co. in Beverly Hills, California.

“And besides, if you go to a bank, it can take weeks or months to get a loan. When we make a loan, it’s usually the same day,”

The pawnshop for the prosperous lends to hedge-fund managers, bankers, lawyers, doctors and even Oscar winners.

“Most people have a vision of pawn shops as sad sites. But that’s not the case here,” Tabach-Bank said. “I have a lot of people who come in who have a business opportunity and they need an infusion of cash for business purposes.”

USGoldBuyers.com, an online pawnbroker with an office in New York, will also accept fine wines, said spokesman Jose Caba, adding that the rich do not always have liquid assets to keep up with their expensive toys.

“That’s where we come in,” he said. “We don’t really want to sell the wine, or any asset that we take in whether it be gold or fine art.”

He estimates that about 90 percent of the loans made have been repaid.

But interest rates and length of the loans vary widely.

British-based pawnbroker, borro.com, recently lent $120,000 in exchange for 128 bottles of Chateau d’Yquem, which had an estimated worth of $250,000.

Within the last three weeks, borro.com had taken a case of 1989 Chateau Petrus, valued at about $38,000, for a loan of $24,000, said its Chief Executive Paul Aitken.

Loans were also secured on various vintages of the five First Growths Bordeaux: Chateau Haut-Brion, Chateau Lafite-Rothschild, Chateau Haut-Brion, Chateau Margaux and Chateau Mouton Rothschild — top wines regularly sold at auctions where cases fetch tens of thousands of dollars.

Aitken’s clientele, whose net worth ranges from $1 million to $10 million, are mostly small business owners with cash flow problems. Financial advisers and wealth managers recommend many of their clients to him.

Britain’s Prime Asset Loans, based in Durham, has a specific list of wines it will loan against including the First Growth Bordeaux, Burgundy’s Domaine de la Romanee-Conti and, depending on the vintage, Australia’s renowned Penfolds Grange.

“We lend up to 70 percent of the value of the wines and the term is usually seven months,” said Richard Mews, a partner at Prime Asset Loans. “Investors are using this type of loan more as it is quick, easy and there are no fees.”

Credit Municipal de Paris, which has been offering loans against fine wines, champagnes and aged spirits since 2008, can keep more than 90,000 bottles in its 18th century wine cellar.

“Just deposit your bottles against a loan that is immediately awarded,” said spokeswoman Florence Marambat, adding that Bordeaux were the wines most frequently offered as collateral.

READ THE FULL ARTICLE HERE

By Bob Pool

A Beverly Hills real estate broker is waiting for escrow to close on two upscale properties, but that won’t happen until after Christmas.

So what is a powerhouse agent to do to generate some quick spending money for holiday shopping?

This one hocked her diamond Patek Philippe watch at a Beverly Hills pawnshop for cash. She’ll reclaim her $15,000 timepiece when the deals close, said Jordan Tabach-Bank, chief executive of 73-year-old Beverly Loan Co.

“Never before have we seen so many affluent people needing cash,” he said. “People are in a cash crunch. You can’t go to the bank for a loan for holiday shopping.”

So that might explain why a Beverly Hills financial manager pawned his wife’s six-carat diamond engagement ring so he could reward his staff members with Christmas bonuses this year. And why an elderly woman decided to outright sell her $80,000, circa-1920s emerald and diamond bracelet to the pawnshop so she could buy Christmas gifts for her children and grandchildren.

There’s no pawnshop symbol — the signature three balls suspended from a bar — outside Tabach-Bank’s office in a South Santa Monica Boulevard office building. But people find the shop anyway. Most of his clients live or work nearby, he said.

Most of the thousands of pieces of high-end jewelry, artwork and collectibles are locked in a bank vault downstairs from the pawnshop. Ninety percent of the items will be returned to their owners, who pay a state-regulated fee of about 4% a month on the loan amount.

“We like to get the ring back on the finger, the watch back on the wrist and the art back on the wall,” Tabach-Bank said. “Loans in the $3,000 to $4,000 range are typical in Beverly Hills for the holidays.”

Items sold to the store or left unclaimed by their owners are sold by the pawnshop. The number of shoppers looking for deals on jewelry has doubled this holiday season over past years, he said.

There are some pawned items that Tabach-Bank is especially hoping will be reclaimed. Like the 1980 Raiders Super Bowl ring belonging to “a person slightly down on his luck. My hope is the gentlemen will be able to get it back,” he said.

The 33-year-old executive acknowledged that for some, “there’s a stigma, an embarrassment” to pawn loans. That’s unfortunate, since no one bats an eye at someone who is seeking a mortgage for a house, he said.

Nonetheless, pawnshops may be a barometer of the economy. And these days business is booming.

Beverly Loan Company also boasts an impressive collection of items for sale. The 73 year old pawn shop has a large selection of estate jewelry and high-end watches, as well as unique once-in-a-lifetime items available for purchase to the public at large at “dealer” prices. Beverly Loan Company’s items recently appeared on NBC’s hit TV show “It’s Worth What?” The show featured a stunning Alan Friedman yellow diamond pendant and chain ($175,000) and a De Beers diamond hourglass ($15,500).

Known as the “Pawn Shop to the Stars”, since 1938 Beverly Loan Company has offered confidential pawn loans against signed jewelry and watches, including such brands as Cartier, Graff, Tiffany and Co., Patek Philippe, Panerai, Audemars Piguet, and Rolex. Unlike your average pawn shop, Beverly Loan also specializes in modern and contemporary art, including works by Warhol, Picasso, Hockney, Lichtenstein, and Chagall. Owing to its exclusive 90210 location, Beverly Loan Company even has expertise in rare Hollywood collectibles such as Emmys and Golden Globes and sports memorabilia. The collection includes championship rings and belts, along with pop icon articles worn by figures such as Marilyn Monroe, Madonna, Elvis Presley, and Michael Jackson.

Tabach-Bank noted, “We take our customers needs for security and privacy very seriously.” Beverly Loan Company is located on the 3rd floor of the Bank of America Building on the corner of Santa Monica Blvd. and Beverly Dr. in the heart of Beverly Hills. Tabach-Bank added, “For our customers protection, Beverly Loan Company has an armed guard on duty at all times. All jewelry is stored in our private safe located inside Bank of America’s vault.” Beverly Loan Company has been featured in the New York Times, Los Angeles Times, E! Entertainment Television, the Wall Street Journal, and Newsweek.

Beverly Loan Company, the premier collateral lender in Beverly Hills, launched a new and improved website today, http://www.BeverlyLoan.com. The new site provides detailed information regarding Beverly Loan Company’s unique history and unprecedented security and privacy measures. The site also includes Beverly Loan Company’s extensive press coverage in an updated visual layout, as well as a host of interactive video and audio casts.

Known as the “Pawn Shop to the Stars”, since 1938 Beverly Loan Company has provided pawn loans against high-end luxury items, including Cartier, Patek Philippe and Rolex watches, heirloom jewelry, diamonds and fine gems, as well as modern and contemporary art, including works by Warhol, Picasso, Hockney, Lichtenstein, and Chagall. Owing to its exclusive 90210 location, Beverly Loan Company also specializes in rare Hollywood collectibles and sports memorabilia, such as Emmys and Golden Globes, as well as pop icon collectibles, including articles worn by figures such as Madonna, Elvis Presley, and Michael Jackson. Most recently, Beverly Loan Company has made pawn loans against sports memorabilia, including championship rings and belts.

The website’s new “Pawn News” section will provide users and clients with continuous news covering topics that fall into Beverly Loan Company’s expertise, including “how to grade a diamond” and market trends in art and jewelry auctions. Additionally, the new website also highlights Beverly Loan Company’s forthcoming second location in New York City’s International Gem Tower.

Jordan Tabach-Bank, Beverly Loan Company’s CEO, stated, “We’re very excited to present our revitalized online presence to the world.” Beverly Loan Company is also expanding its presence on social media with Facebook, LinkedIn, Youtube and other social media pages that can be linked to from the new Beverly Loan Company homepage.

Beverly Loan Company has been featured in the New York Times, Los Angeles Times, E! Entertainment Television, the Wall Street Journal, and Newsweek.

The 2007 financial crisis, which led to the weakening of global economies and the loss of 8 million jobs in 2008 and 2009 in the United States, tightened the availability of credit for consumers and small businesses.

Since the crisis, the unemployment rate in the United States has remained stubbornly high and the economic recovery has stalled, causing fiscal uncertainty to hit consumers’ pocketbooks and the balance sheets of small businesses.

In this new economic environment, consumers and small business owners have increasingly turned to nonbank sources of credit, such as collateral loans.

More Consumers Are Seeking Out Collateral Loans

Collateral lenders provide short term non-recourse cash loans against items individuals already own.

While retail and other sectors have suffered in the economic downturn, the collateral loan industry has thrived, giving people a low-hassle option for obtaining a line of credit.

Collateral loan businesses specializing in upscale merchandise are especially popular.

Jordan Tabach-Bank, owner of Beverly Loan Company, a collateral lender in Beverly Hills, operates a thriving shop that caters to socialites, businesspeople and celebrities in the nation’s most famous zip code.

“We’ve seen a higher volume of business since the recession hit,” Tabach-Bank said. “People are looking for accessible lines of credit right now, and our confidential pawn loans appeal to them.”

The family-owned “pawn shop”, which opened in 1938, provides large collateral loans against fine jewelry, watches and artwork. The shop has been dubbed the “Pawn Shop to the Stars,” for its notable clientele and reputation of providing confidential loans.

Beverly Loan Company offer “pawn loans” against, purchases and sells luxury goods to the public at large from its discreet location on the third floor of the Bank of America building. Situated one block east of Rodeo Drive, Tabach-Bank’s shop embodies the high end of the collateral loan industry, an increasingly popular market as people seek out new and alternative lines of credit.

Collateral Loans Help Small Business Owners

Small business owners, finding it more and more difficult to obtain loans from banks, are using upscale collateral loans to meet payroll and answer other financial pressures. These short-term pawn loans provide business owners a much needed cash infusion to keep their business operating and profitable.

Upscale collateral lenders, such as Beverly Loan Company, also enable new business owners to get their companies up and running. Would-be small business owners can present luxury items as collateral for a pawn loan to finance start-up expenses without impacting their credit.

 Beverly Loan Company’s certified gemologists specialize in vintage and modern diamond jewelry, including signed pieced by Cartier and Tiffany and Co, as well as high-end watches, including Rolex and Patek Philippe. This Beverly Hills institution also lends against other luxury items, including sterling silver flatware, Baccarat and Lalique crystal, as well as modern and contemporary art, including works by Warhol, Picasso, Hockney, Lichtenstein, Miro and Chagall. And, due to its unique 90210 location, Beverly Loan Company also provides pawn loans against entertainment and sports memorabilia, including awards, costumes, and championship rings and belts.

“We see all kinds of fascinating items come through our doors,” Tabach-Bank said.

But Tabach-Bank believes that it is more than the unique pawn loan offerings that keep clients coming back–it is the reliable and personable business model.

“People appreciate the confidentiality and consistency of our service,” he said. Pawn loan transactions are conducted in private offices, and valuables are kept in a secure bank vault.

“We’ve always offered something unique, and we continue to be recognized as the foremost collateral lender of luxury goods in the United States,” he said.

His shop has been written up in the New York Times, Los Angeles Times, The Wall Street Journal, and Newsweek, among other publications.

The rich have always faced periodic “liquidity shortfalls,” where they have plenty of assets but not enough cash.

Yet apparently, those shortfalls are becoming more common in the bad economy. And the cash-poor rich are fueling a continued rise in high-end pawn shops.

According to an article in the South Florida Sun-Sentinel, business is booming at Boca Raton Pawn, which will pawn everything from Hublot watches and Jimmy Choo shoes to diamonds and Lamborghinis. The shop recently got a call about a Picasso.

“We looked around and there were really no pawn shops in the area catering to the rich,” owner Seth Marcus said. “We call ourselves a pawn shop, but we’re really a high-end collateral lender.”

Boca Raton Pawn is part of a growing cottage industry of pawning to the rich. They work like regular pawn shops, where the shop gives a loan based on a piece of collateral that it holds. If the loan isn’t paid back, the shop sells the collateral. The only difference is that high-end pawn shops deal in bigger numbers.

Boomerang Lending, a Colorado-based business founded in the depths of the crisis in 2009, has pawned a $90,000 Ducati racing bike, a Corum Golden Bridge watch, and a solid-gold, 19th-century cocktail purse valued at $25,000. Boomerang Lending has dealt with a Picasso (what is it with pawned Picassos?). Their interest rate is 48%.

“There is a certain type of affluent customer that will not go into a pawn shop,” owner Todd Hills told Newsweek in 2010. “And they don’t have a $50 or $100 problem. Maybe they have a $100,000 problem.” The granddaddy of all the plutocrat pawnshops is Beverly Loan Co., in Beverly Hills, which bills itself as “the Pawnshop to the Stars” has been helping the cash-strapped and famous for nearly 75 years.

Owner Jordan Tabach-Bank told CNN in 2009 that he was “giving more loans and they’re bigger than ever.”

“I recently had a hedge-fund manager in here getting a large loan on his collection of diamonds,” he said. (Yes, Beverly Loan also lists Picassos among their previous inventory).

You’d think that after the market rebound in 2009 and 2010 that the rich would be more flush and pawn-free.  Yet Seth Marcus of Boca Raton Pawn said some of Boca Raton Pawn’s business is coming from small-business owners pawning designer watches to make payroll. One woman pawned her engagement ring to buy a puppy.

Would you ever go to a high-end pawnshop?

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Alan Friedman Yellow Diamond Skull Pendant and Chain

Designed by Alan Friedman, this 18-carat yellow gold skull and chain is 24″ long and has 920 natural fancy yellow diamonds totaling over nine carats. There are also 28 tapered baguettes and 2 rose diamonds, totaling another 1.88 carats. Value: $175,000

De Beers Diamond Hourglass

Forget “sands through the hourglass”! This limited edition hourglass from De Beers is filled with 2000 natural rough diamonds with an approximate total weight of 36 carats, suspended in silicone fluid. Although this is an hourglass, it only takes about 10 minutes for the diamonds to move from top to bottom. Value: $15,500