"Down and Out in Beverly Hills: Rolexes, Picassos Hit Pawnshops"

Parent Cafe
1

<p>I don’t understand the appeal of Rolexes except they fill some animalistic need in some people.</p>

<p>Anyway, if you’re pseudo rich, you can borrow at the wonderful rate of 4% a month. </p>

<p>"The worse the economy gets, the better it is for Jordan Tabach-Bank. </p>

<p>``Business is booming,‘’ said Tabach-Bank, the chief executive officer of Beverly Loan Co. in Beverly Hills, California. </p>

<p>Beverly Loan is a pawnshop. Not just any pawnshop, but the kind that caters to people who hock Cartiers, Harley- Davidsons and Oscar statuettes when they need cash. They really need it now, Tabach-Bank said from a third-floor office, protected by bulletproof glass, off his showroom in the Bank of America building near Rodeo Drive. </p>

<p><code>I’ve never seen so many bankers, lawyers, doctors and actors’’ with valuable things to pawn, he said. He pointed to an 18-carat white gold bracelet with 69 diamonds ($2,900) and an 18-carat yellow gold Rolex Yachtmaster II (</code>a steal’’ at $18,500). </p>

<p>With credit drying up at regular lenders, <code>in many cases now, we’re not just the bank of last resort,‘’ Tabach-Bank said.</code>We’re the bank of only resort.‘’ </p>

<p>"Under California law, a pawned item remains in a shop for four months and 10 days, after which the client may get it back by paying off the loan or delay redemption by paying just the interest. </p>

<p>The state dictates interest rates for loans up to $2,500, lenders for loans higher than that. The usual rate at Beverly Loan is 4 percent a month, Tabach-Bank said." </p>

<p>[Bloomberg.com:</a> Spend](<a href=“Bloomberg Politics - Bloomberg”>Bloomberg Politics - Bloomberg)</p>

2

<p>I never/u] buy anything new. This computer laptop is from a pawn shop. I needed a clean (not junked-up) and XP computer and they had one. My bicycle is from my local pawn shop.</p>

<p>He owner gives me extra discount because I pay cash (its recorded on the till) and I shop regularly.</p>

3

<p>I wear the same watch that Hank Paulson does.</p>

<p>I bought my son an upgraded model earlier this semester because he forgot to go to a class at the beginning of the semester.</p>

4

<p>I don’t wear watch period.</p>

5

<p>Hmm, I wanna go to BH pawn shop and do some consignment shopping</p>

6

<p>Timex here. 12 years old. Last one went 14. </p>

<p>I like QUALITY.</p>

7

<p>I’ll keep my Citizens eco-drive…no winding, no battery…</p>

8

<p>Hank Paulson wears a cheap Timex. It looks pretty odd with his $3,000 suits.</p>

9

<p>Inexpensive. Not “cheap”. ;)</p>

10

<p>I have owned a Rolex since early in my career because I wanted a solid watch and I love quality. I have traded in and/or upgraded a few times. I make no apologies. I love my Rolex and H loves his. We each also have a TAG for the same reason. Quality, durability and classy.<br>
I also have plastic running watches and some fun Swatch watches. I like watches.</p>

11

<p>My Citizen Eco is from the pawnshop. I was getting tired of buying batteries and replacement bands for the CHEAP and inexpensive watches. The watches were functional but burns me to install batteries and bands each costing more than the original.</p>

12

<p>My Timex watches run about 6 years on a battery. The reason I love them is that they have five alarms, chronometer, count-down timer and address book. They also provide illumination at the flick of the wrist. They’re fine for swimming too.</p>

<p>I typically set an alarm very early in the morning. If I can’t find the watch, I only need to wake up early and listen for the alarm.</p>

13

<p>Where do you get batteries that last six years??? I have a Citizen eco-drive, actually two of them, and I love them. No batteries needed - these watches are environmentally friendly,</p>

14

<p>Electronics today use up less power than before or provide more compute power.</p>

<p>We have a battery recycling bin at the office.</p>

<p>BTW, I think that Timex could do a battery-less watch with all of the high-tech features but it would cost a lot more than they do now. They have a data port watch with a USB port to hook up to your computer so that you can put calendar alarms on your watch for appointments. They also have watches with barometric pressure, digital compass, altimeter, etc.</p>

15

<p>My brother’s FIL has a watch fetish which he shares with all of his family members. He has given my brother no fewer than a dozen watches, all expensive ones, all unusual in the 4 years my brother has been married to his wife. Most of the watches are those perpetual motion type which drives him crazy as you can’t just put the watch away and then have ready to wear. You have to keep moving to keep the watch wound. They actually have perpetual motion cases (expensive!) to keep those watches. I wanted to get him one for Christmas, but the price tag scared me off. My bro was horrifed when I showed him the contraption in a catalogue.</p>

16

<p>My 12-year-old Timex has never needed a new battery.</p>

17

<p>I cannot seem to keep a watch. I have broken or ruined any number of them in the last 20 years including Timexes, Seikos, and even some high end ones that are supposed to be everything proof. It seems like replaceing a battery ends the lives of watches for me. I have gotten to the point that I just wear the inexpensive $10 watches and pitch them and buy again when they go. Lately, I’ve not worn a watch at all.</p>

18

<p>No watch anymore. Cell phone suffices instead!</p>