Can You Pawn Fine Art?
Fine art has sold at auctions for millions, but that ugly painting Aunt Martha gave you 30 years ago is still sitting in your attic. You need fast cash. So, why haven’t you brought it in yet? Maybe you didn’t know that you could pawn fine art. You can. Here’s what you need to do before you bring it to local pawnshops, and what happens after.
How Does It Look?
In the art world, the condition of a piece is everything. The same is true in a fine art pawnshop. If anything looks like it was dragged out of a dumpster, we’re not gonna buy it from you.
We will give you some advice on what you can do to restore it, however, and how much that might cost. If your art is in awesome condition, you can go right to the next step, which is research.
Do Some Detective Work Yourself
Do you know who created the piece you want to pawn? If not, find out. Then do a search for the name to get some artist background. Have no idea who that person is? It doesn’t matter. Antique pawnshops will if they know their stuff.
The next thing is to research the style. Your artwork could be impressionist, abstract, landscape, etc. You get the picture, so to speak. After that, figure out its medium. Oil on canvas, charcoal or pencil sketch, watercolor? Whatever it is, put all of this info together, and search for similar pieces and how much they’re going for.
You also need to know the time period because that affects how much it’ll be worth. The older it is, the more you might get for it.
What Does the Pawnshop Do?
When you bring art into a jewelry pawnshop, the process is the same whether you’re looking for cash or a collateral loan. We look at factors like its condition, signature, and rarity, to name a few. Then we give you a value based on that appraisal information. Once you have a number, it’s time to make a choice.
Getting a Collateral Cash Loan
If you need money, but the bank won’t give you the time of day, you can get collateral or emergency cash loans. Give us your art, we give you a cash loan, and you have four months to repay it. No credit checks, no monthly payments, no questions. Not only that but, here in NYC, your interest is a measly 4% a month. Let a credit card or bank try to match that!
Here’s the bottom line: Your art can’t get you any cash by sitting in your basement or attic. Get it out of there, dust it off, and bring it to GEM Pawnbrokers. With 24 locations and 70 years of experience in appraising fine art, jewelry, and more, we always pay the highest prices. Want proof? Just call (718) 596-5626.