Pawn Art in San Diego
We are a San Diego pawn shop that pawns Art as well as other items. We pay cash for art or collateral loans on art. If you are looking to pawn art in San Diego you have come to the right place.
If you have art it is important to know who the artist is. Usually this is determined from the work of art, the signature of the artist and the certificates or paperwork that comes with the art.
If your art has all of the above it would be easy to determine who the artist is and evaluate what their art sells for. If not our experts will look at the art, research it and let you know who it is by and what the value is.
Not all art is signed. In those cases it can be more difficult to determine who the art is by and what it is worth. If you have any certificates of authenticity, letters from or to the artist, letters signed by the artist, pictures with the artist or any other documentation that would be helpful.
Even if you don’t have any of the above, our San Diego pawn shops show your art to our experts who will tell us their opinion of the piece.
If you want to know about pawning fine art or pawning paintings the best bet is to e mail us a picture of the painting, a picture of the signature (if any) and a picture of the certificate or letters you may have to go with it (if any). We will then have our experts review the pictures and make a determination.
Not all San Diego pawn shops pawn art or understand art. Some specialize in other items such as musical instruments or electronics.
When looking for the best place to pawn art in San Diego you are best off first sending pictures of your item and receive a response back to determine if the pawn shops in San Diego that you have contacted are interested in your art or not. If yes, then you want to make sure their experts look at the art and evaluate it so that you have an understanding of how much you will receive for your pawned art.
You can get a collateral loan on your art based on the value of the art piece and how difficult it would be to sell it. Art loans can range from small amounts to large sums depending on your type of art.
Pawning art in San Diego is easy. Just come or or call us and we’ll take care of everything for you.
If you are looking for local pawn shops to pawn art or pawn shops near me to pawn art call us at (619)777-8238 or click here to contact us.
For more information about pawning art see article below from the Huffington Post by Daniel Grant:
Art Collectors Turn to Pawn Shops
In the course of a week, Yossi Dina talks to a lot of art dealers and art collectors, movie moguls and real estate investors, all of whom want him to give them a loan, using their art as collateral. “Almost every day, people want to know what their art is worth, what kind of loan I give them,” he said. Not everybody is so nice. “A lot of people try to scam me. They think I don’t know anything about art or what something is worth. They think I’ll take a fake, but I’m not stupid, and they learn pretty quickly.”
In the small world of loans where art is accepted as collateral, Yossi Dina is one of the go-to guys. A few banks will permit their long-time “preferred” customers, whose diversified portfolios they manage, to put up artworks along with other assets against borrowed money. The New York City-based Rosenthal & Rosenthal (1370 Broadway, New York, NY, 212-356-1400, ) is a private loan company that will take art as collateral, and the largest auction houses — Christie’s, Phillips and Sotheby’s — make advances against consignments and for planned bidders. And then there is Dina, owner of The Dina Collection, a pawn shop that specializes in the fine arts. The banks, the financial services companies and the auction houses can take a while to agree to a loan, but Dina generally makes a determination while you’re standing, later that day if things are more complicated. Selling art through galleries and auction houses usually takes even longer.
If the United States slides into a recession, as many economists are predicting, those with nonliquid assets, such as artwork and jewelry, may be looking convert some of their holdings into cash. The benefit of a pawn shop is that someone doesn’t lose possession of an object unless he or she decides to default on the loan; and it is a type of default that won’t appear on a credit report — you just keep the money you received. The downside of a pawn shop loan is that the money is never equal to the value of the object that is handed over.
Most of the loans that Dina makes are between $2,500 and $500,000, occasionally based on prints but more often unique works by such artists as Marc Chagall, Salvador Dali, Amedeo Modigliani, Pablo Picasso, Ed Ruscha and Andy Warhol. “Most of my loans, relative to other pawnbrokers, are large,” he said. “Most pawnbrokers make loans of $50-100. My average is over $10,000, and I don’t do 100 loans a day.”
On occasion, the loans get into the million-dollar level, such as a recent deal involving 10 artworks on which he paid out “a little under $4 million.”
The art owners needing money “are just normal people, not on drugs or anything. They don’t come here out of desperation,” he added. They just need cash right now, perhaps to “buy more art or invest in something, like buying a building.” Well, some may be a little desperate, such as the movie and television industry people who have been out of work as a result of the writers’ strike. In Beverly Hills, someone always needs emergency money to pay a lawyer or to bail a kid out of jail, an art gallery owner whose last exhibition produced no sales need money to pay the rent. It’s none of Dina’s business why they need the money, and he claims to never ask, although the information is sometimes volunteered.
He makes four-month loans, charging four percent interest per month – the maximum allowed under the California penal code – and will roll over the loan for another four months at the clients’ request (“I try to be nice”). As any other pawn shop doing business in his location, The Dina Collection is incorporated under California law, has both a state and city (of Beverly Hills) pawn brokers license, obtained a resellers permit and posted a $100,000 bond. State law requires pawn shop records to be available to law enforcement agencies, but otherwise all loan information is confidential. All pawn brokers loan a percentage of the amount that they can expect to receive if they have to sell the item in the event that the borrowers do not come back to get it. Under state law, and true in all 50 states, borrowers are required to present a state issued picture identification card or drivers license; other forms of identification, such as a birth certificate, car registrations, health insurance cards, passports, student ID, fishing license, hunting license, library card, credit card or company employee tag, are not permissible. After the four months is up (plus a 10-day grace period), unless the borrower requests an extension on repaying his or her loan, ownership of the item reverts to the pawn shop owner.
California and New York State banking laws, which regulate pawn shops, both permit no more than a four percent per month interest rate, or 48 percent annually. Many other states are more lenient towards pawnbrokers, allowing annual interest rates of 120 percent, or 10 percent per month. That is in addition to storage fees (a wide and negotiable range, based on the size of the object – cars and trucks take up more room than most art and jewelry) and processing fees (sometimes a set amount and other times a percentage of the loan – perhaps one or two percent). Nationally, two-thirds of pawned items are retrieved, particularly objects of greater value, according to John P. Caskey, chairman of the department of economics at Swarthmore College, who has studied the pawn shop industry. “The pawn shop owner will lend you some fraction of the resale value, so you have a strong interest in getting it back,” he said. “Say, you bought a watch for $200 and bring it into a pawn shop. The owner will think that he can sell it for $100, so give you $50 for it. It makes sense for you to get it back as soon as you can.”
Dina noted that one of the artworks he has in his shop is a painting that he quickly determined by looking through auction records had a fair market value of $10 million. He loaned its owner $1 million. “The state doesn’t tell me how much I have to pay people,” he said. “There is no logic to my business.” Still, most of his high-end customers must understand logic, since Dina claimed that more than 90 percent of them redeem their artwork within a year or less. Dina wastes no time selling unretrieved artwork, as well as other art he purchases from estate and bankruptcy sales (“Every day I get a deal”) – the artwork (Impressionism, Modern and contemporary art, with an occasional Old Master) forms The Dina Collection. “I sold more art last year than most galleries,” he boasted, crediting his success to being able to underprice mainstream commercial galleries. The actor George Hamilton is one of his buyers, he added.
Since Dina is only licensed to make loans in Beverly Hills, all transfers of artwork and money must take place in person. Telephone inquiries come in from all over the United States — images of the artwork are sent as J-PEGS through e-mail, and other documentation is faxed — but he (as all pawn brokers) wants to see the object in person; those would-be borrowers to whom he agrees to make a loan are required to travel to Beverly Hills. “My clients know it’s worth it to make the trip.” Borrowers must also retrieve their items in person or designate in writing at the time of the initial loan who else can pick it up.
The popular image of the pawn shop is a seedy store front with bullet-proof glass in a seedy neighborhood, frequented by people who are clearly down on their luck, trading their wedding rings or cars for rent or food money. Many are still like that, but Caskey noted that a new crop of pawn shop has emerged, serving a higher-end clientele. “There has been an effort to upscale the image,” he said. “The chain pawn shops are more sophisticated, well-lit, clean, spacious, more like a 7-11.” The names of the more upscale pawn shops also don’t suggest hard times, such as The Dina Collection or Carver W. Reed in Philadelphia, which specializes in jewelry, and they are located right in the higher-rent commercial districts of their respective cities.
Yossi Dina is not the only pawn broker to accept artwork, although jewelry tends to be their highest priced valuable. The Dina Collection is the art branch of the South Beverly Wilshire Jewelry and Loan, also owned and operated by Dina and located in the same building on a street filled with high-end jewelry shops. The Yuppie Pawn Shop in Kirkland, Washington, Buy Sell Loan in the San Francisco Bay Area and The Cash Store in Fairfax, Virginia also highlight their willingness to make loans collateralized by artwork. Having a nicer looking store and paying higher rent for it doesn’t make these pawn shop owners any less avaricious. “The loans we make aren’t anywhere near what the things are worth,” said Karen Moskowitz, co-owner of The Yuppie Pawn Shop, which has taken as collateral works by Dale Chihuly, Salvador Dali and Bev Doolittle. “We probably give 10-30 cents on the dollar.” Dmitri Bertsovsky, owner of Buy Sell Loan stated that he pays out 25-30 percent of the actual value for “bronzes, oil paintings, porcelains, and only by listed artists” – that is, artists who have an auction sales record.
The Dina Collection, however, is the largest and Dina himself has been labeled “pawnbroker to the stars.” (Among the people who have bought jewelry from him, according to employee Dominique Pinassi, are Farrah Fawcett, Janet Jackson and Liza Minelli.)
The 50 year-old Dina was born in Israel and came to the United States in 1979 to visit his brother, who lived in New York City. He hitch-hiked across the country, settling in Los Angeles and earning money along the way selling jewelry. “I used to do just a jewelry pawn shop,” he said, “and then I dated a girl who was into art, and her father was a collector.” The relationship with the girl did not last, but his interest in acquiring and selling art grew, because “there was no competition in art. People who have art and need money right away, where else are they going to go?”
Here is another article on Masterpieces being pawned:
Art Collectors Pawn Masterpieces To Meet Market Rout Margin Calls
Earlier this year, Picasso’s Women of Algiers (Version O), set an auction house record when it sold for $179,365,000, including the house’s premium, prompting us to remark that if you were looking for signs of runaway inflation, Christie’s may be a good place to start. We remarked further:
The nearly $200 million price tag for the “riot of colors focused on scantily dressed women” is, according to WSJ, reflective of the work’s “trophy” status which it earned as a result of its “ownership pedigree”. Translated from high-end art world parlance to plain English: for billionaires who have seen their obscene fortunes balloon under monetary policies designed to inflate financial assets at the expense of everything else (including market stability), purchasing art affords the buyer an even greater opportunity to “boast” than hoarding $100 million homes because after all, there a lot of mega mansions, but there’s only one vibrant, multi-hued Picasso riff on a Delacroix, so really, $180 million is a bargain, especially when most of the purchase price will be recouped by S&P 2,500, or SHCOMP 6,000 (depending on the nationality of the unnamed buyer).
Well that was then, and this is now, and after the close of trading in Shanghai and New York on Monday, the SHCOMP was sitting at 3,209 and the S&P was at 1,893, prompting some of the collectors who had so willingly forked over tens and even hundreds of millions for “riots of colors” on canvas were suddenly forced to consider pawning these treasures for cash as the margin calls rolled in.
Here’s Bloomberg with more:
Art dealer Asher Edelman’s vacation in Comporta, Portugal, was interrupted Monday by inquiries from clients as global equities plunged.
Some asked about borrowing against their art collections from Edelman’s art-financing company ArtAssure Ltd. Others wanted to sell works. Everyone was looking for the same thing: liquidity.
“There are many margin calls,” Edelman said in a phone interview, adding that no deals were struck yet.
Boutique lenders said they were unusually busy in late August, when most of the art world is on holiday. Global equities and the art market have become intertwined as art prices have soared and more wealthy buyers view their collections as an investment they can borrow against.
“Ten years ago no one in the art market paid close attention to these corrections in the stock market,” said Elizabeth von Habsburg, managing director of Winston Art Group, an independent art appraisal and advisory firm. “Now clients respond immediately.”
“When liquidity leaves the marketplace people will consider art loans as an option to replace volatile margin securities loans,” said John Arena, senior credit executive for Bank of America’s Private Wealth Management Business. He said his group — which didn’t see a spike in art loan inquiries Monday — doesn’t limit its credit exposure to art loans during market turmoil.
Edelman said his clients asked about the borrowing terms against works ranging from Iranian artifacts to Andy Warhol paintings.
And while some clients were content to borrow, others apparently opted for firesales, causing dealers to line up bank financing in order to take advantage of opportunistic prices.
Collectors aren’t the only ones looking for liquidity with art-backed loans. Art Finance Partners, a New York-based firm, was contacted on Monday by dealers looking to borrow money to close private sales.
In one instance, market uncertainty spurred the seller of a painting by Camille Pissaro, with the asking price of about $500,000, to close the transaction with a dealer, who will use a loan to buy the work, said Andrew Rose, president of Art Finance Partners.
With the deadlines to consign art for the November auctions coming up, some collectors have decided to sell works rather than wait.
“Some are pulling the trigger,” Rose said. “People want certainty.”
So it would appear that China, via the pressure its collapsing stock market and currency shocker have put on global equities, has single-handedly reversed the fortunes of the hyperinflating high-end art world as collectors’ collective scramble for liquidity is creating a buyer’s market and indeed, as one expert told Bloomberg, “hot emerging artists whose prices exploded in the past year [have] recently started to cool off.”
In other words, even Picasso isn’t immune from exported Chinese deflation.