FAQ's - Beverly Loan Company
Where is your location?
Beverly Loan Company is located just one block off Rodeo Drive on the third floor of the Bank of America building at the corner of Little Santa Monica Boulevard and Beverly Drive. Our address is:
9440 South Santa Monica Blvd., Suite 101
Beverly Hills, CA 90210
If you are in need of our services on the East Coast, our sister store, New York Loan Company, is located in the International Gem Tower in Manhattan’s Diamond District.
How do you compare to other pawnshops in Southern California?
Beverly Loan Company prides itself on being the premier high-end luxury pawn shop in the country. We have the expertise to purchase and loan against unique, one-of-a-kind collateral. With over 75 years of experience, our family-owned business has earned an impeccable reputation and is frequently referred to by the media as the “Pawn Shop to the Stars”. We are able to provide higher loan amounts due to the expertise of our GIA trained loan officers and our longstanding relationships with buyers on both Coasts.
No matter what the size of the transaction, every pawn loan is conducted with unparalleled professionalism in the comfort of a private office. Furthermore, we make every effort to protect our clients’ privacy and confidentiality; customer service and discretion have always been the cornerstone of our business.
Do I need to make an appointment and where should I park?
We have an open door policy, but calling in advance is always suggested. There is valet parking available at our building and complimentary parking next door at Crate & Barrel.
What is a pawn loan?
A pawn loan is a collateralized loan where the value of your collateral is all that matters, not your credit score or financial circumstances. Our four-month loans are not only non-recourse but also completely confidential; we only report to the authorities as required by law. Should you require additional time, arrangements can be made to extend your loan term. Your collateral is redeemed and returned to you, which is always our goal, once the principal and accrued interest is paid. Learn more about our loan process .
Are there any requirements to qualify for a pawn loan?
Pursuant to California State law, you must be at least 18 years old and have a government-issued ID (driver’s license, passport, etc.) to receive a pawn loan.
In many cases, we may request provenance, receipts, or certificates of authenticity to make a loan. Please refer to the specific pages under the “assets” tab at the top of this page, or contact us for more information.
What are the loan terms?
Beverly Loan Company offers four-month loans. All loans are non-recourse and all interest rates and loan terms are governed by federal, state and local law.
We pride ourselves on in being completely transparent and have absolutely no hidden fees. Pawn tickets have a clear breakdown of all costs associated with the loan. Unlike some of our competitors, Beverly Loan Company does not take any fees at the front end of your loan, meaning the entire amount all interest and fees are paid only when you redeem your item or rewrite the loan. Our loan officers are pleased to answer any questions regarding the loan process.
What types of payment do you provide/accept?
While, the majority of our clients prefer cash, we can also pay via business check, cashier’s check, money order or wire transfer.
We accept interest payments in the form of cash, cashier’s check, money order, wire or debit.
How long does the loan take to complete?
We make the loan process as quick and simple as possible. Transactions typically take no more than 30 minutes; however, the more collateral that we appraise, the longer the process will take. The majority of the time is spent writing detailed descriptions of the collateral and attempting to provide the most competitive valuation for your collateral.
What types of collateral do you loan against?
While we primarily make pawn loans against gold, platinum and diamond jewelry, and fine watches, we also have significant expertise in other high-end items, including contemporary and modern art, and one-of-a-kind entertainment and sports memorabilia. We also purchase and loan against auction-worthy handbags, sterling silver flatware, extremely fine wines and rare coins. Unfortunately, we do not accept any household items, including electronics, tools or musical instruments.
To see a complete list of collateral that we accept, please see the “assets” tab at the top of this page.
How do you authenticate and value jewelry and watches?
We are not the type of collateral lender or buyer who simply loans or purchases based on gold weight. With over 75 years in business, we are keenly familiar with market fluctuations and the premium that signed goods carry (e.g. Graff, Harry Winston, Cartier, Tiffany & Co, Rolex, IWC, Patek Philippe, Audemars Piguet). Beverly Loan Company employs GIA graduate gemologists to authenticate and value diamonds and gemstones. We are able to pay a premium for many items based on our longstanding relationships with dealers in the trade on both Coasts.
Each item is authenticated on a case-by-case basis since no two items are exactly alike.
How do you authenticate and value of art/memorabilia?
We ask that the client compile an email with photographs of the potential collateral and any details, specifically the provenance. Upon receipt of the email, we will conduct our due diligence. This process can take 24 hours (or more) as we must often consult with other experts and pull comparable auction records in order to determine the most competitive valuation possible.
Please be aware that we cannot make a firm offer until we see the collateral in person. To see what kind of collateral we accept and learn more about the process and paperwork necessary for each collateral type, please see the “assets” tab at the top of this page.
Can you provide quotes over the phone?
In most cases, we cannot provide a quote over the phone. In order to provide the highest loan amount possible, we must personally authenticate, inspect, and appraise the specific attributes of your collateral prior to making an offer.
Will you make an outright purchase?
If you have no desire to receive a loan against your collateral, we are happy to make an outright purchase.
What security measures do you have in place? How do I know my collateral will not be damaged/switched?
Beverly Loan Company has an armed guard on site and other significant security measures including a state-of-the-art alarm system and video surveillance. All collateral is afforded the highest level of protection either on premises or in Bank of America’s secure vault on the ground floor of our building.
Please note that our family-owned business has been in continuous operation since 1938 and we have never lost, broken, or misplaced any collateral. We handle all collateral with the utmost respect and care and package it safely and securely while in your presence.
Can I also purchase jewelry/watches?
We have a jewelry showroom where we offer dealer prices to the public at large, making Beverly Loan Company a great place to shop. No matter the occasion, visit our office, it won’t disappoint.