Pawnshops are very convenient and practical. Just think about it, nowhere can you undergo a transaction which doesn’t even last for ten minutes. They are basically the quickest way to earn cash, especially when you’re in need. Aside from that, they are a major part of Filipino culture. TV commercials aside, pawnshops are rooted in the Filipino system since the time of the Spaniards, when they allowed the Chinese to sail the Philippine shores in order to do their trades. This has been a long running business model in the Philippines, much so that the number of branches that pawnshops have in the country now outnumber banks. So regardless of area, social stature, and occupation, Filipinos will always approach a pawnshop as a first resort.
Of course, not many pawnshop clienteles have expensive items to pawn off, it’s just that they manage to come up with valid items that qualify according to the pawnshop’s standards. With that in mind, it is understandable that many are still unaware of the exact lists of items which can be pawned off. Not everyone has financial concerns, after all, so some haven’t even been in a pawnshop before. No worries, as we have listed the correct items which can count towards you having extra cash by the end of the day:
Gold is one of the most common items to be pawned off. Of course, the pawnbroker has to double check its authenticity. Not everything that glitters is gold, after all. But once proven that an item is indeed gold, the broker would come up with the price appropriately reflecting the condition, quality, and authenticity of the item. Be sure to declare whether an item is full gold or gold-plated, as those are also two separate things. Just be honest about the condition of the item and answer the pawnbroker’s questions about the item as well. Who knows, you might get a great deal in the process.
According to a famous song, they are timeless, they are indestructible, they are “forever.” Yes, diamonds may be one of the strongest and fanciest jewels to date, but the same process of evaluation for a fair appraisal is basically the same as that of gold items. It would all depend on the quality and authenticity of the item, though there would even be lesser things to worry about if your diamond is authentic, due to the fact that it can only be scratched by other diamonds. They can also be polished well, which is why you wouldn’t have a hard time cleaning them up if you ever decide to pawn them off.
There is a reason why it is heralded as the “king of the metals.” It is 15 times rarer than gold. As a matter of fact, is the only precious metal used in fine jewelry design that is up to 95% pure, making it the purest metal of them all (gold is only 75%). But do not let its purity fool you, it’s definitely a tough metal, so if ever you’re going to pawn off one, even in spite of over usage, your jewels would still look great in quality.
Smartphones are a staple of pawnshops as well. Accordingly, only a few types and models of cellphones are accepted, depending on the standard of the pawnshop itself. Nonetheless, they are a welcome addition to the already huge plethora of items you may pawn off. Take note that just like any other items, the quality will come into play. Also be reminded that this falls under the category of gadgets, so they should be in great working condition when pawned off. Much better if you were to pawn off a smartphone while still in mint condition. They have a higher appraisal.
Much like cellphones, laptops which are pawned off while still in high quality and mint condition are prone to a higher appraisal. Of course, the more branded they are, the better. Be sure that the battery and charger is still intact and fully-functioning.
Take note that these are just the basic items you can typically pawn off, depending on the pawnshop, other items may still be qualified for a good appraisal. Feel free to ask your local pawnshop for more details.
Now that we’ve got that out of the way, we should look at the technicalities when it comes to pawning off your items. Aside from the usual verification process, you may also need to present one or two of the following:
- Passport; including those issued by foreign governments
- Driver’s License
- Professional Regulation Commission (PRC) ID
- National Bureau of Investigation (NBI) Clearance
- Police Clearance
- Postal ID
- Voter’s ID
- Barangay Certification
- Government Service Insurance System (GSIS) e- Card
- Social Security System (SSS) Card
- Senior Citizen Card
- Overseas Workers Welfare Administration (OWWA) ID
- OFW ID
- Seaman’s Book
- Alien Certification of Registration/ Immigrant Certificate of Registration
- Government Office and GOCC ID, e.g., Armed Forces of the Philippines (AFP ID), Home Development Mutual Fund (HDMF ID)
- Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
- Department of Social Welfare and Development (DSWD) Certification
- Integrated Bar of the Philippines ID
- Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC
- Passports issued by foreign government
A Well-Rounded Pawnshop That’s Always Ready to Serve
If you would ask, “What would you recommend? Is there any pawnshop that can guaranty a balance of good service and high appraisal?” As a matter of fact, yes, there is. Look no further than Cebuana Lhuillier, a leader in the pawning industry. Cebuana Lhuillier offers up to 35% higher appraisal rate compared to other pawnshops in its 2,500branches nationwide. The company’s business has evolved with the needs of the Filipino people by accepting an array of valuable items—from jewelry to gadgets—in exchange for a fair loan amount.
With every competing pawnshop in existence, each one has their own set of transactions and processes to follow. But for Cebuana Lhuillier, a simplified transaction will always make it stand out from the rest:
- Visit any Cebuana Lhuillier Pawnshop branch and present the item to be pawned.
- Accomplish the customer information sheet.
- Present a valid I.D. (see list below)
- Let the appraiser assess the value of your item. Advise the branch personnel if you agree with the appraised value and net proceeds.
- Sign the Prenda card and the pouch containing your item to ensure its authenticity and safety for when you get it back.
- Count the money received and secure the pawn ticket, which is required to be presented during renewal or redemption of the pawned item.
Cebuana Lhuillier also assures the highest appraisal and security for pawned items. Advance interest will be charged Php4 for every Php100 loan amount. To maintain the excellent standard of service offered by Cebuana Lhuillier, clients are charged five pesos (Php 5) service fee, no other hidden charges will be deducted from the loan, whatsoever.
For any further clarifications or inquiries, please feel free to visit any of our nearest branch. Our staff would be more than happy to answer your questions and feedback.