When it comes to pawning, it is the one thing I grew up having a negative connotation over. You wouldn’t catch me red-handed, to be anywhere near a pawnshop, for sure! But now that I’m grown, I have come to realize that pawning is nothing different than getting a loan with your personal property as a collateral.
The negative connotation on pawning may come from those that make pawning a habit. It is of course, always wiser to have the interest work for you. But in the event that you find yourself strapped for cash, and in urgent need to pay something off, is it not a good thing to have something of value that you can use as collateral to settle the bill? It boils down to discipline, and the fact that it is not a perfect world. Makes sense, right? I know, it took me a while to embrace that.
More than stuff that depreciate, I learned a long time ago (thanks Mom!) that investing on jewelry is way wiser since it becomes an asset, as opposed to buying say, a car, that depreciates over time. 🙂 
As much as I love bangles, it has always been a challenge to find myself a bangle that fits! Tiny-boned. Wrist size: 5.5″. Was giddy when I found a bangle that fitted. regardless if it’s kid size.
During a trip to Vietnam early this year, I bought a gold bangle. We were encouraged by a friend that Vietnam gold appraises high back home. So because I wanted to see for myself, I went to the nearest Cebuana Lhuillier, and had it appraised. Why Cebuana Lhuiller, you ask? A recent experience I had with a friend when she pawned her jewelry, got me convinced that Cebuana gives the highest appraisal. I tagged along, and had a couple of my own earrings appraised. I was there anyway, so I might as well try it for myself.
Don’t just take my word for it. These are the actual appraised amounts from three different pawnshops of two sets of earrings:
Vietnam Gold Bangle:
- Pawnshop X – P3,900
- Pawnshop Y – P3,500
- Cebuana Lhuillier – P4,300
Tri-Color Stud Earrings:
- Pawnshop X – P4,000
- Pawnshop Y – P3,500
- Cebuana Lhuillier – P4,318
Looped Earrings:
- Pawnshop X – P3,400
- Pawnshop Y – P3,000
- Cebuana Lhuillier – P3,729
Cebuana Lhuillier is by far the highest appraisal rate for my two sets of earrings, and Vietnam Gold bangle. Now when it comes to getting that bang for your buck, while you are at it, anyone will downright choose the pawnshop that will give the highest amount (biggest take home pay) for their jewelry, in the event a need arises. I know, I will. 🙂
Truth be told, pawning an item is a tradition that goes way back – way before banks started offering credit cards, there were already “pawn shops.” In a world that is not perfect, this has been a legitimate way to deal with short term cash flow issues.
Cebuana Lhuiller also does Subasta Sale, where they sell off pawned items that were not claimed. It makes sense to actually buy jewelry from pawnshops since we know for sure that they are legit, and properly appraised. The jewelry are sold for a fraction of their real sale item. I actually used to have a look/see, in case there’s a piece I’d like. I will sure update this post in the event I chance upon a piece that I’d like enough to purchase. 🙂
Cebuana Lhuillier has grown to become the largest microfinancial services company. Their giving back as they champion the Filipino spirit through the Happiest Pinoy search, and the National Protektado Day, where they gave away free microinsurance to 1 million Filipinos, tells enough of the company’s generosity. This is why it’s no wonder why they are known for giving the highest appraisal.
I know that this post is mostly about my thoughts on pawning, but this Cebuana Lhuillier Microfinancial services shoot off is totally mention-worthy. Since I was covered myself for a good couple of years with their accident insurance in the past, and I am going to have myself covered again. As a freelance online virtual assistant since 2009, Cebuana Lhuillier has become my go to microfinancial provider, as I have learned some work around on the absence of the usual benefits that a regular employee has working in the corporate world. There really is so much to love about Cebuana Lhuillier, especially as they make insurance coverage so much affordable for the common Filipino.