Since man has known the concept of property, pledging has played a role in the world. In general, however, pledging is perceived rather negatively, because people with debts have to pledge or, in the case of a salary garnishment, something is taken away from you. On the other hand, there is a fascination with pledging. This proves television shows, such as the "Pawn Stars" (The three of the pawnshop). Almost everyone has imagined suddenly owning something very valuable and getting a lot of money for it in a pawn shop. Although this is more fantasy than reality, in this post we will look at some of the issues surrounding pledging.
What can I pledge?
Actually, almost anything can be pawned that is "movable" in some form or another. Thus only land and real estate are excluded. In these cases we speak of a mortgage. The following list shows numerous examples of valuable items or rights that can be pawned:
- Precious metals in various forms (coins, bars, jewelry, etc.).)
- Electronic items (tablets,, smartphones, laptops etc.)
- Vehicles (cars, trucks, motorcycles, etc.).)
- The right to make payments (debt claims, salaries, rents, etc.) is not a matter for the government.)
- Objects of art (paintings, sculptures, etc.) can be purchased digitally.)
- Historical items (badges from wars, rare cultural goods)
- weapons (especially older weapons)
- Securities (stocks, bonds, etc.)
- Fashion items (designer bags, clothes etc.)
- Insurance (life insurance etc.)
- Musical instruments (guitars, violins etc).)
Ultimately, anything that has a certain objective value can be pawned. Exactly this determination of value can also hold a great tension in the pledge.
Note: In some special forms of pledging, the creditor or. owners of the pawn claim the income from the pawn, for example interest from a savings account. Here we are talking about fruit enjoyment.
Where can I pawn?
The answer to this question results from the pawned object. Savings books or shares can also be pawned at banks. But usually for pledging a suitable pawnshop is visited. It should be noted that different pawnshops specialize in different pawned items. There are in Austria own pawnshops for vehicles. People are more likely to go to a Dorotheum with jewelry or precious metals. In addition, other pawnshops also gladly take electronic pawns. If you are looking for a pawnshop in Austria, you can find lists of pawnbrokers and their specialization on various subpages here:
How much money do I get when I pawn?
In this question the resale value is of particular importance. Should the pawn not be released, the pawnbroker has the right to sell the pawn. If the pawnbroker receives too little money in this case, it is his problem and his damage.
The resale value is usually lower than the actual value. For this reason pawn shops usually offer less than the item is actually worth. This is because the pawnshop wants to protect itself against this risk of resale. This undervaluation also contributes to an ambivalent attitude towards pawnshops. On the one hand, customers tend to get too little money in a pawnshop and on the other hand, many customers can make a bargain there.
For many standardized pledged items, the potential buyer can determine in advance online how much he or she can get. These standardized products include numerous electronic items of a certain brand and model. In addition, in the case of precious metals, the amount of the pawned loan can be easily estimated on the basis of the current exchange rate.
Note: In this new online pawnshop, the pledge amount can already be determined via the Internet.
FAQ about pawning
Where can I find pawnshops?
Actually, there is a pawnshop in every major city in Austria. Just use a Google search along the following lines: find pawn shop in [insert your city here]
When do I get the money in a pawnshop?
You usually receive the payout at the pawn shop immediately after the value of the pawned item has been verified.
Who goes to a pawnshop?
Pawnshops are visited by people who urgently need money or by bargain hunters.
How much money I get in a pawnshop?
Pawnshops can usually also pay out larger amounts of money.
What are the costs for a pawn credit?
In addition to the actual interest, pawnshops also charge for the safekeeping and insurance of the valuables.
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