Collateral Loans

Frequently Asked Questions…

1. What kind of collateral do you accept?

We accept gold or platinum jewelry with or without diamonds, including rings, bracelets, necklaces, earrings, cufflinks & gold coins. We also accept high quality watches. If you are unsure if we accept your jewelry, call or visit one of our branches and ask any of our brokers.

2. What value do you loan?

The loan value will be a percentage of the market value based upon weight, condition and quality. Which ranges from $1000 – $50,000

3. What are the requirements to make a loan?

You will need to provide us with your jewelry to be held as collateral and a valid government issued photo identification (i.e. drivers license, passport, etc.). By New York law you must be at least 18 years old to make a loan.

4. How long does the loan process take?

Our process is quick and easy. A loan value will be determined within a matter of minutes, and you can be on your way with cash in your hand moments later. All business done with Manhattan Buyers Inc. is strictly confidential.

5. How do I know that my jewelry will be returned to me in the same condition?

Your jewelry is safely packaged and labeled with a unique pawn number. The package is then stored in a secure vault. Upon repayment of the loan, the collateral is returned to you.

Your jewelry is insured by Manhattan Buyers Jewelry Insurance Policy

6. How long do I have to repay the loan?

New York State mandates that loans are written for three (3) months.

7. If I make the loan, what do I get?

First, you will receive the money. We can provide cash or check. Regarding cash, we are fully compliant with US Patriot Act Laws regarding the distribution and collection of cash.

Second, you will receive a pawn ticket. Do not lose the pawn ticket, as it is necessary to redeem your merchandise. The ticket will provide a description of your merchandise, the amount financed, all charges, and the terms of the contract. Any person who presents the pawn ticket can redeem the merchandise, so: DO NOT LOSE YOUR PAWN TICKET!!!

8. What if I cannot redeem my merchandise after 3 months?

You may request Manhattan Buyers to re-pledge your property for an additional one (1) to three (3) months. If agreed, a new ticket will be generated after all interest and fees are paid. You must contact us by email or certified mail if you are not able to pick up your loan. As a courtesy Manhattan Buyers provides a one (1) week grace period. If did not contact Manhattan Buyers within that time your loan will be sold off.

9. What if I would like to redeem my loan earlier?

The borrower can redeem the loan at any time before the end of the loan period, and will only be charged for that period of time which has passed

10. What are the charges for the interest and fees?

New York State law allows pawnbrokers to charge four percent (4%) per month. The law also allows for a ticket writing fee (depending on loan amount, but maximum of $10). There is also a vault & storage fee (2% under $200, 3% over $200), and an insurance charge of 2%.

11. I cannot come into a store. Can I get a loan thru the mail?

That is not a problem. Submit the form on your right or call us and we will make the arrangements.