2023-12-05 10:24:50
Update
December 05, 2023
11:24
By offering an interesting alternative to consumer credit and installment loans, Mont-de-Piété is attracting more and more customers.
Despite signs of the recession easing, new customers continue to flock to the Pawnshopthe only establishment in Belgium which grants pawn loans.
“This year, the number of new customers increased by 31% compared to 2021 (i.e. the reference year before the start of the energy crisis)”, indicates Cathy Vaessen, its communications manager.
“It’s not only the interest rate, but also the simplicity of the process that attracts more and more people.”
In practice, customers obtain a loan in less than 30 minutes by entrusting one or more valuable objects as collateral. The valuation of valuable items is carried out without an appointment.
“It’s not just the interest rate — 3.25% on a 6 month loan (i.e. an APR of 6.5%) — but also the simplicity of the approach which attracts more and more people.
Average loan amount increasing
Furthermore, the average amount of the pawn loan he too remains sharply increasing compared to 2021. It is thus passed from 600/700 euros in recent years, almost 1.000 euros in 2022.
“It stabilized at that time. Therefore, we expect to reach 30 million by the end of the year (compared to 21.5 million euros in 2021). It’s a record!”
Clientele and goods
Who visits the Mont-de-Piété and what type of goods are pledged? “Profiles are diversifying and people are bringing higher value goods.” Items deposited as collateral remain almost exclusively jewelry and watches.
“As we want to allow as many people as possible to benefit from our services, we accept around twenty categories of objects, but this remains proportionally marginal. A little leather goodsa few tableaux…”, explains Cathy Vaessen.
Pawned or sold
Most customers come to pawn an item to get money directlypresumably to pay bills, and in 95% of cases, they get it back later. “This figure remains stable. No development has yet been observed at this stage.”
Anyone who wishes to sell can directly obtain an advance equivalent to 50 to 70% of the value of the item.
However, some want to sell the object. But in all cases, the customer must take out a loan.
“Anyone who wishes to sell can directly obtain a advance equivalent to 50 to 70% of the value of the object, or a sum from 30 eurosbut he will have to wait two or three months to receive the proceeds of the sale, the time that the object spends in the sales room”, explains Cathy Vaessen.
You should therefore not be in too much of a hurry… Let us point out that the decision to sell the item can be taken directly or later.
Advice
In gold buying/selling stores, you will sell your jewelry by the weight of gold. “Via our services, as long as the object is pretty and several buyers are interested in the auction room, it is much more likely to sell for a price higher than its monetary value“, explique Cathy Vaessen.
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