February 11, 2020 - Antiques, Art and Collectibles
Although you might think that pawn shops are only interested in items like diamond jewelry or electrical goods, that isn’t always the case.
In fact, pawnbrokers are interested in any item where they might be able to make some money. For example, if you have an interesting piece then you could consider pawning wood carving art.
Pawning art is done in the same way as pawning other items. The main difference when looking at pawning wood carving is to find a pawn shop or site that understands the value of what you have.
Not all pawnbrokers know how to pawn art, so your first job is to find a shop or site that will understand the value of what you have. Pawnbroking is a business, when you deposit your item the pawnbroker will decide what they can make from selling it if you don’t make your payments. In order for them to make money, they will only loan you somewhere between 50 and 80% of this amount. That’s why it’s important that your pawnbroker understands exactly what it is that you are selling.
Before you start the process of pawning your wood carving sculpture, you should assess the value. This isn’t just a question of money, there is also a question of sentimental value. Although 85% of customers repay their loans and reclaim their items, that means 15% don’t. If you were one of that unfortunate percentage, what would that mean for you?
Wood Carving has been a part of art history for thousands of years. Carved items can date as far back as Ancient Egypt, and has been explored by cultures on every continent. Antique wood carving items are a specialist area, it helps to have a provenance, that is proof of where the item came from, to support its value.
But modern wood carving items also have a value, with famous names like Henry Moore and Barbara Hepworth having explored the medium. Alongside these ‘fine art’ items, there are also folk art pieces. For these, it will be helpful to find the purchase receipt, so you can make a reasonable claim to their value.
Once you have identified a site or shop that you think can help you with your item, you should arrange a visit. Take all your documentation with you, and decide on what you think you should accept in cash terms.
Hear what the pawnbroker has to offer – you might be pleasantly surprised.
Make sure that you read the documentation carefully before you agree to pawn wood carving art. Ask questions if you need to, and make sure that you note when you need to repay the loan in order to reclaim your item.
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