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ONLINE PAWN SHOP

Updated on March 4, 2015

E-Commerce Industry

The E-business is newfangled concept in Indian economy but has significantly evolved benefitting economy with higher gains. The Indian traditional marketing system is adsorbing the new technological approach in order to cope with international market and vast growing Indian consumer market.

The penetration of E-commerce is low as compared to markets of US and UK but is growing at a much faster rate with a large number of neophytes.

Key Propeller in Indian E- commerce is:

  • Booming broadband Internet and 3G penetration.
  • Mounting standards of living and a burgeoning, upwardly mobile middle class with high disposable incomes
  • Availability of much wider product range compared to what is available at brick and mortar retailers
  • Busy lifestyles, urban traffic congestion and lack of time for offline shopping
  • Lower prices compared to brick and mortar retail driven by disintermediation and reduced inventory and real estate costs
  • Increased usage of online classified sites, with more consumer buying and selling second-hand goods
  • Evolution of the online marketplace model with sites.

WHAT IS A PAWN SHOP ?

It is basically a shop where customers bring in a variety of artifacts to sell or pawn and who are shown haggling over the price and discussing historical background of those items.


When the buyer is unable to evaluate an object, they consult with a knowledgeable expert who can evaluate it to determine its authenticity and potential value and in the case of items needing repair, the cost of restoration or preparing the item for sale. Whoever is evaluating the object goes over the potential value with the customer, including the expert's opinion, if one is given, often interspersed with an interview in which he explains the basis of his decision to the viewer. A price tag graphic at the bottom corner of the screen provides the ever -changing dollar amount as the two haggle over the item's price. On occasion, buyer will purchase items in need of restoration before determining its restoration costs, thus taking a risk on such costs.


An important factor of pawn shop is the Pawnbroker who provides outstanding customer service while conducting merchandise buying, selling and pawn activities for customers. Team Members work with supervision; follow business standards for accurately appraising customer goods, pawn loans and purchase approvals; adheres to industry regulations and Company policy in order to comply and to prevent losses or damage to Company and customer assets.



Online Pawn: A Booming Business Luring Upscale Customers

Online Pawn: A Booming Business Luring Upscale Customers

Pawn shops are moving from the seedy side of town and going online to compete with the giant’s likes of Amazon and eBay.

Just as Amazon and eBay pioneered online shopping and are now the biggest players, online pawn shops are jockeying for position, hoping to get the largest slice of the pie. The pawn industry as a whole has swelled to $7 billion, helped by the combination of a stagnant economy and reality TV shows such as the History Channel's Pawn Stars, which popularized pawning.

And nowhere is it growing faster than online. Online pawn shops are aspiring to go upscale. They cater to the so-called luxury pawn market whose customers often can put up collateral -- sometimes to the tune of $1 million.

Pawn Star - TV Reality Show

The TV reality show “Pawn Stars” takes you inside the colorful world of the pawn business. At the Gold & Silver Pawn Shop on the outskirts of Las Vegas, three generations of the Harrison family–grandfather Richard, son Rick and grandson Corey–jointly run the family business, and there’s clashing and camaraderie every step of the way. The three men use their sharp eyes and skills to assess the value of items from the commonplace to the truly historic, including a 16th-century samurai sword, a Super Bowl ring, a Picasso painting and a 17th-century stay of execution.

LIST OF FEW ONLINE PAWN SHOPS

iPawns offers simple loans, without exorbitant interest rates and no hidden costs. They do not require a credit check. Interest rates are as low as 1%. There are special offers and rates for small business owners. It has its headquarters in Tyler, Texas.

PawnUp.com headquartered in Centennial, Colorado is a full-service online pawn shop whose primary goal is to allow you to "get cash now", when you need it the most, hassle-free and with absolute discretion. One can sell here item for quick cash or use it as collateral. When an item is pawned here it still belongs to the owner once the loan is paid back, they'll return them to you free of charge. At PawnUp.com they do not check your credit score or financial history. Moreover, they will not engage in collection efforts if you do not repay your pawn loan and under NO circumstances would they report you to a credit agency.

Pawngo

Launched in June of 2011 and located in Denver, Colorado, Pawngo is the first full-service online pawn shop in the US and is venture-backed by Daylight Partners, Access Venture Partners and Light bank, the $100 million fund started by the founders of Groupon.

Pawngo provides a short-term answer to immediate financial need via collateralized loans of up to $1 million. Our secure, discreet online process allows our customers to conduct the entire loan transaction from the comfort and privacy of home. Pawngo's mission is to help individuals, families and small business owners get the cash they need quickly, without any risk to their credit, and so far customers across 48 states are inclined to agree that our mission has been a success.

ePawnmarket

With ePawnmarket one can get a secured loan today using luxury assets one already own as collateral for a short term online pawn loan. Interest rates start as low as 2.99% per month.
Headquarters: Atlanta, Georgia

Ultrapawn

Ultrapawn provides a fast and reasonably priced solution to your short term cash requirement. Interest as low as 2% per month. Its headquarter is in Littleton,Colorado.

Pawntique

“Pawntique is an online pawn shop , its headquarter is in Portsmouth, NH. There are 12,000 pawn shops in the United States. But there are only a couple of us who are trying to transfer that business model to the Internet. Pawntique helps people solve their short-term cash problems by loaning them money using their personal items as collateral. If they really don’t want these items back, then the organization is willing to buy the items from them. So it’s really adapting the business model of a pawn shop. No payment for the first 3 months!

Borro

Borro headquartered at New York, NY provides short term personal loans against fine art, jewelry, luxury watches, prestige cars, fine wine and more.

Pawnshopper.com

Pawnshopper.com links to pawn shop online inventory across the nation! Simply choose a category, enter your zip code and your search radius and we will show you inventory from pawnshops in your local area.
Pawnshopper.Com started as a solution to provide consumers a better way to locate pawn shop inventory from a radius of their zip code. Recently, Pawnshopper.Com has transitioned to a full E-Commerce solution. Consumers can now click on a Purchase Now button or a Make Offer button to buy an item directly on the site. The site also has an industry first Pawn Loan solution that allows a consumer to submit an item directly on the site (with photos), input their zip code and choose which pawnshops will view their item within a certain distance from their zip code. The item is then submitted to the selected pawn shops and the pawn shops respond with a potential loan amount saving the consumer time and sometimes embarrassment of having to go into several pawn shops to find out how much their item is worth and how the loan process works. With Pawnshopper.Com, a consumer can find out what their item is worth with only a few easy steps. The site is fairly young, but is sustaining steady growth each month

PawnBahn

PawnBahn saw the need for individuals to easily access financial assistance, in these tough economic times. One of the ironies of the banking industry is; when the economy is doing poorly, and individuals and households are in the highest need of financial help, getting a loan from a bank is extremely difficult and sometimes impossible. PawnBahn wants to loan you money based on the worth of your asset(s), not your credit score, annual income or asset to debt ratio. Most everyone has a few items (be it jewelry, precious metals, art or collectibles) that they could utilize to borrow money. A bank or financial institution wouldn't take those items into consideration when giving you a pawn loan, but PawnBahn will give you an online pawn loan based solely on said item. We believe you will find our process quick, simple and beneficial to your financial needs.

ONLINE PAWN SHOP IS UNTOUCHED TERRITORY IN INDIA.

E -commerce is changing our economy and affecting all aspects of business. It has become a part of core business functions. There are various things like clothes, home appliances, electronic gadgets, etc. available on line for buying and selling. Just like clothing, electronic and IT industry, the Pawn shop industry is a budding business today. Many business analysts assumed that their business is not fitted for incorporating information technology such as Internet

There are thousands of products available online, today think of anything and at a blink of eye there are several online shopping portals presenting the good in their own unique way, however still there are few untapped segments where bit of research is required to bring the product Online. One among that untapped segment product is Pawn Shops.

There are currently no business listed under Pawn Shop for India.

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