Selling to a Pawnbroker
Pawnbrokers generally operate a second-hand business in conjunction with their lending business. To that end, they will often offer to buy items brought in for inspection.
After purchase of an item, they will report all pertinent details of the transaction to the police and hold the item for seven days. After this period a pawnbroker will clean and test the item before offering it for sale to the general public.
Buying from a Pawnbroker
When buying secondhand goods there are many options, but none as safe and secure as purchasing from a licensed secondhand dealer. Unlike less regulated avenues, when purchasing from a Pawnbroker you are protected from any kind of property charges related to the purchased item.
Many a bargain hunter has had the miserable experience of a ‘receiving stolen property/tainted property’ charge after purchasing a ‘great deal’ on Gumtree, eBay, or a Facebook Marketplace. However, when you purchase from a pawnbroker you can buy risk free, knowing that not only has the item been through the police database, but if in the unlikely case that it did turn out to be stolen property, you would be reimbursed by the Pawnbroker and protected from any charges.
Loans from a Pawnbroker
Pawnbroking loans are short term, high interest loans against goods of value.
A pawnbroker will assess the value of an item and generally make the offer of a loan on that item for markedly below what they believe they could sell it for. This item will be safely stored by the pawnbroker for no less than three months. The customer then has the opportunity to return, pay the loan amount plus the interest, and have their goods returned to them.
What makes a Pawnbroking loan different?
There is only one consequence of not repaying a Pawnbroking loan. Unlike a more mainstream loan; if you cannot or do not repay a mainstream loan, you will start to receive harassing phone calls, letters of demand, have your credit score tarnished and find yourself pursued by debt collectors or even end up in court.
However, the consequence of not paying a pawnbroking loan is simple, you lose the item that you have already been without for over three months.
You’ve been paid by cheque or received a cheque from a government service, but you don’t want to deposit it into your bank account and wait for the cheque to clear.
Hippopotamus Pawnbrokers will give you ‘cash in hand’ for a government or business cheque for a small fee. Please Note: Conditions apply.
So, you have a balance in your PayPal account that you want to ‘cash’. Instead of waiting for your money to go into your account and waiting again for it to clear, you can transfer your balance to Hippopotamus Pawnbrokers and get cash in hand for a small fee.
Please Note: Conditions apply.
Hippos carry an extensive range of secondhand goods. Just about everything you can imagine turns up in our stores at one time or another. Everything you can think of and more, from machinery to jewellery, electronics to tools, collectables to musical instruments.
All our stock is thoroughly tested and cleaned before being offered for sale at very reasonable prices. You can purchase either in-store, or on eBay and Gumtree. Visit a store at Morayfield, Caboolture or Lawnton and if that store doesn’t have what you want, our friendly staff will contact our other stores to see if they can help.