During hard economic times, certain industries that are not considered a necessity-industry struggle. Many actors, writers, and others within the art community took advantage of pawning their art for cash.
After the economy picked up, both art collectors and pawn dealers mutually benefited from the rise in art pawn deals. Art patrons like getting quick cash and pawnshops were able to expand their business. In the past, art pieces were sold and distributed through other means like art galleries and auction houses. Now, it’s much easier to get money for your art as collateral.
It’s recommended that use PawnGuru as a vital resource when you pawn an item, especially valuable art to ensure you get the best deal.
Whether you are attempting to pawn your art-or sell it outright—there are numerous benefits of using a pawn dealer. The simple, expedited process of pawning art has made it an industry standard for pawnshops to deal art. There are even pawnshops that deal only in art, similar to specialty jewelry pawnbrokers.
Pawnshops commonly accept modern & contemporary fine art, rare numismatic coins, and memorabilia as the various areas of high-end art commonly pawned. Art mediums that dealers like to draw up contracts, range from canvas paintings to sculptures. Nothing is off limits. The definition of high-end art extends into myriad styles, time periods, and mediums.
Valuable or heirloom art can be retrieved after paying the loan back. Many art collectors aren’t necessarily pawning out of desperation, or even necessity. Collectors use their art possessions for an intended purpose, as an investment. You can pawn your art collection to fund your next entrepreneurial project and still be able to get the collection back.
Many choose the approach of pawning because it is much quicker than traditional loan methods. Applying for a loan from banks, financial services, and traditional lenders could take you weeks or even months to get your cash. With a pawnshop, you can walk away that day with your cash in hand.
If you choose to sell your art, this also takes an exhausting amount of time. High-end art is similar to real estate, or other high-value pawn loans, in regard to lengthy turnaround times for selling. Art will be appraised, shown, and brokered. You will need to pay commission to a broker and other parties involved in the contracting process.
If you use an auction house, you won’t have complete control over the final amount your collection is sold for. With pawning, you have control over your art pieces agreed upon value. If you don’t like the terms, use a different pawn dealer. Depending on the shop you work with, you can pawn or sell your art for close to if not, the true value of the arts’ appraisal.
If you decide to pawn your art collection or individual art pieces, the best tool to use is PawnGuru. PawnGuru is the pawnbroker of the 21st century and makes it easier to get the most money possible from the most reputable pawn dealer.
PawnGuru allows you to use a virtual portal of every local pawnshop in your area. The way it works is that you list your art on PawnGuru for free. You will provide a short description of the artwork and provenance. After this, simply sit back and monitor your emails for offers. You choose the highest offer from the most trustworthy pawnshop in your local area.
PawnGuru has a community rating-star system which keeps all parties protected. If a pawnshop engages in any dishonest business, they are rated and reported on PawnGuru. The safety net and quick services of PawnGuru make it the premier approach to pawning high-end art. You can also buy and sell items using the site too!
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles