Frequently Asked Questions (FAQ)
What does iPawn do?
iPawn is built on the premise of providing safe, affordable access to short term cash-to help people create better lives for themselves, their families and ultimately, their communities. We believe that there is no reason why it should be so difficult or expensive for individuals and small businesses to to sell their luxury goods for a fair market value or to borrow needed money, especially during tough times. iPawn is out to change this. We are committed to bringing you closer to the funds you need, with no further delay.
What types of items do you accept?
iPawn only accepts (instead of loans against) valuables for which we are well-qualified to evaluate and appraise. We typically accept:
Jewelry & Diamonds - most types of precious jewelry including rings, bracelets, necklaces and earrings made from gold or platinum, with or without diamonds
Branded Watches - luxury watches including Rolex, Cartier, Omega, Breitling, Audemars Piguet, Patek Philippe, Tag Heuer, and many more.
Precious Metals - we accept all types of gold (not plated), sterling silver, platinum, and palladium.
View full list
What items do you not accept?
Here are some examples of items that we do not currently accept:
- Electrical items such as laptops, mobile phones or iPods
- Art and antiques
- Other collectibles
What is your loan interest rate?
iPawn works hard to give you the best loan offer possible with the most attractive interest rates in the business. We guarantee a 1% interest rate for all loans over $2,000 and maintain rates that are 5% or lower for smaller sized loans.
Why iPawn vs Ebay?
We understand how valuable your items are to you and they should not be handled by just anyone. Whether they have sentimental value or are a one-of-a kind item it is our priority that your item is handled by only the best and with the utmost care. It all begins with a professional in-house inspection that is entirely objective, taken care of by us for no extra charge. Then we put in the work to sell your item to the highest bidder out of a network of trusted buyers who truly understand the value of your item. Once there is a transaction agreement, the buyer is committed with no last-minute changes. All transactions are also licensed and regulated by US laws. Lastly, when a transaction is completed, you get your money right away. Ultimately, iPawn acts as a trusted middle man, preventing fraud, theft, and dishonesty. You will get the highest market value with almost no risk or effort.
Why should I trust your evaluation team over my local jewelers appraisal?
With over 30 years of experience and state of the art machinery in our advanced lab, our appraisal will be very accurate. Our experts are also qualified to appraise all types of valuables from jewelry, to watches, to precious metals. Your valuable will only be appraised and handled by the very best in the industry. Meanwhile, the appraisal will be entirely objective as we are not the buyers of your item. The purpose of the appraisal is to present it to other trusted buyers to use as a reference. While your local jeweler is likely to be highly qualified to properly appraise jewelry, it is best practice that all appraisal and handling of your items be done in house.
What is the difference between Pawning an item and selling it?
Pawning an item means that we offer a low-interest cash loan while holding your item at our secure facility. Once loan payments are completed, at your desired timeframe, your item is returned. If payments are not submitted for a month, we automatically provide you with an additional 30-day grace period (as required by the Office of Consumer Credit Commissioner). Selling the item means we extend an offer to purchase the item outright. If you accept the offer, we give you the money with no further obligations on either side.
Can I extend the duration of the loan?
We guarantee a loan with an interest rate as low as 1% for the first month and for an additional 30-day grace period. After the initial month, if both parties are interested, you can pay only the monthly finance fee due and a new pawn ticket will be signed in order to extend this timeframe.
How much can I borrow?
The maximum loan amount per pawn ticket is $16,500 and the minimum is $500. You can sign multiple pawn tickets and receive up to $200,000.
How long does it take to get a loan offer?
We will send you an initial offer within 60 minutes of receiving your photo or description of the item you want to pawn. Please note, that the more detailed you are in your description, the faster you will get an offer.
How do you calculate the loan amount?
To put it simply, all loans are based on the item's resale value estimate. Such estimated resale value, however, is not based on the "replacement value" of the item. It is based on how much the item could be sold for in the current market.
How do I make loan payments?
Loan payments can be made via bank transfer, PayPal, money order, or certified check. Payments need to be received by iPawn on the agreed payment due date. It may take a few days to process a payment, it is best to submit the payment with enough time to for processing.
How do I redeem my item?
To expedite the redemption of your valuable item, you should simply transfer the total amount due to our bank account or send us a cashier's check, money order or certified check. Once the payment is received in our account, your item will be returned to you right away.
What if my valuables are not in perfect condition?
You can still loan against them. Jewelry and precious metals are appraised based on their weight and quality (e.g., the size of the diamond or the weight and quality of the gold that makes up the valuable), so we can still loan against them even if they are broken or incomplete. Watches, however, will achieve a better loan value if they are in proper working condition. It is always preferable to receive valuables in their original box and/or with the payment receipt.
Why do I need to send my items?
In order for us to make a fair and accurate offer, it is necessary for our trusted, in-house appraisers to physically inspect your item. This is as equally beneficial to you as it is to us. If we relied solely on images and descriptions, we could potentially make an offer that is too low for a very valuable item. You can also rest-assured that your items will be safe and secure both while in transit and at our secure facilities. Throughout the entire process your items are fully insured and protected, strictly handled by our in-house appraisers.
How do I send my valuables to you?
Your valuable item will be collected by a FedEx courier free of charge. We even email you a FedEx label that you can print out. Packages are tracked from the moment they leave your door to the moment we receive them. Valuables are insured by Delta Lloyd insurance from beginning to end, while the packages themselves receive additional insurance with ParcelPro.
How much does shipping cost?
We cover most shipping expenses, including collection and insurance of your valuable item from your home to our secured facility. If you decide to pawn an item, we will pay for shipping the item to our premises, while you will cover the shipping costs for returning the item upon redemption.
Where will my valuables be stored?
All items sent to iPawn are tracked and monitored as soon as they reach our facility. Once we have evaluated your valuables, we store them in highly secure vaults for the duration of the secure loan agreement. iPawn's secure storage facility is fully protected and your items are insured from the moment we receive your valuable until we ship it back to you.
What happens if my valuables get lost or stolen?
In the extremely unlikely event that this happens, your valuables are insured from the moment they are collected. You will be compensated according to market value in accordance with Texas regulation.
If i reject the offer will you send back my item?
Yes. If you are not satisfied with our offer simply request for the item to be sent back to you. We will immediately send your item back in the same condition it was sent to us, no strings attached.
Is it possible to send my items to a different address?
iPawn will not send any of your valuables to an address other than the one listed on your photo ID card used in the transaction. This is due to regulations and best business practices.
If I have a certification or appraisal on my item does that increase the value?
Certification or pre-appraisal will get you a higher offer for your item. We accept appraisals and certificates from the following institutions:
GIA (Industry standard)
Are your facilities safe and secure?
The safety of your items are our priority. When your items are in our possession they are locked in a secure vault and only handled by our trusted experts. Furthermore, we have fully backed insurance from Delta Lloyd covering your items throughout the entire process.
Can you take out the center stone and send me back the ring?
This depends on the ring setting. In some cases the stone is set deep into the setting thus making it very difficult to remove the stone while keeping the ring fully intact. In other cases it is easy to do and we will happily oblige the request. In either case, one of our representatives will be in touch with you to go over the options. We will only take such action with your approval.
Can I visit your offices?
Yes, you certainly can. We are located at:
4607 Troup Highway
Tyler, TX 75703