Pawngo Reviews: Has Pawngo Reinvented Pawn Shops?
June 28, 2011 by Our Staff
Filed under Pawn Jewelry
There was a recent article in the Financial Bin which talked about how the online pawn shop Pawngo and its CEO are reinventing the pawn shop and elevating it from its seedy image. Actually, the pawn shop industry has been elevating itself from that stereotypical image for decades. Today, many pawn shops (like San Diego Luxury Pawnbrokers) more closely resemble an upscale fine jewelry store than the run down pawn shop one used to see in Hollywood films.
Many pawn shop owners surely take issue with statements Pawngo’s CEO and the writer make in the article. Pawngo’s CEO says that Pawngo can develop relationships with customers and make time on the phone for them, while in a brick-and-mortar store you’re talking to an employee who makes $8 to $10 an hour who doesn’t care about your situation. This frankly is an insult to San Diego pawn shops and pawn shops nationwide, who have been building close relationships with customers over many years and who pay their highly trained staff (which sometimes include graduate gemologists) much more than the $8-$10 an hour the Pawngo’s CEO cites.
Later in the article, the writer states that Pawngo’s online pawn shop will allow you to pawn items worth up to $100,000. They say that a cash loan like this is unthinkable in the seedy pawnshop of the stereotype. While it is true that this amount is unthinkable in the seedy stereotype pawn shop, it is not an unthinkable amount in any of the many fine pawn shops that dot the landscape of the United States. For example, here at San Diego Luxury Pawnbrokers, we offer cash loans up to $250,000 on qualified collateral.
So, while pawn shop owners wish Pawngo and its CEO all the best with their online pawn shop, we wish they would have given a more accurate appraisal of today’s pawn shop industry in the interview that appeared at the Financial Bin.
Tamara Kane on Sat, 2nd Jul 2011 3:04 am
Hello, I am considering trading with PawnGo. Fedxing them my item’s for cash but I, at this time, am considering buying a cabin rental business in North Georgia(GREAT OFFER). Will PawnGo or Lightbank lend enough money to buy this business? My husband and I will operate the business in the meantime improve and grow the resort. We have allot of idea’s to be self contained for the guest’s along with promoting the nearby amenities and amusements available. It’s a beautiful place to be.
Your thought’s are welcomed,
Tamara Kane
Southern California
San Diego Pawn Shops on Mon, 4th Jul 2011 7:29 am
Dear. Ms. Kane,
Thanks for your message. We can’t comment on whether Pawngo or any other online pawn shop would loan you enough money to purchase that business. It all depends on the collateral, how they value it, and what their loan limits are for your item. It would be best to call Pawngo and discuss the collateral you are looking to pawn or sell. Good Luck on acquiring the business!
upload to my mp3 on Sat, 9th Jul 2011 8:16 pm
I agree 100%
all three on Mon, 18th Jul 2011 6:53 am
Good points
cool article on Fri, 22nd Jul 2011 2:26 pm
Right on!
cool article on Fri, 22nd Jul 2011 2:54 pm
I agree 100%
Devin Crosno on Wed, 17th Aug 2011 6:47 pm
Thank you for a great post.
Londa Sappah on Wed, 17th Aug 2011 9:33 pm
Good points