The public pawn shop in Geneva is celebrating its 150th anniversary. It is the only one in French-speaking Switzerland. The Pawn Shop, a way to get money fast by leaving items for 6 months or more.
Then two options, refund and recover his property or keep the money and the item is sold at auction. 85% of the items deposited are jewelery or watches, but there are also cameras, bags, blankets, fur coats and sometimes more unusual items such as gold teeth or lockets with the ashes of loved ones inside.
The public pawnshop fund, the only one in Romandie, is non-profit. “The goal is to recover the object we are here to lend. If the loan is not repaid in time, we sell it on at auction” specifies Dominique Tinguely, director of the Geneva pawnshop.
95% of items are recovered, peak times are before summer and end of year.
For valuables, proof of purchase is required to avoid hiding stolen items. Free loan up to CHF 350 and 7% interest on top of that. Last year, almost 2,800 customers benefited from this service for a total of around 4 million francs.