National Pawnbroker Fall 2017

Official Publication of the National Pawnbrokers Association

Celebrating 30 Years

NPA CELEBRATES

YEARS PAWN EXPO 2017

Non-Traditional Marketing Ideas What is a Good Pawn Loan?

FALL 2017

message business from the sense president

How Times Have Changed

Tim Collier NPA President

30 years ago, I doubt anyone in the pawn business could have imagined what the federal government and governmental agencies would burden pawnbrokers with from a compliance standpoint in today’s world. With the NPA turning 30 years old this year, it’s nice to daydream of the times that used to be.

Do you realize that 30 years ago, in 1987, gasoline was $0.75 a gallon, the common cell phone was a bag phone, and disposable contact lenses were introduced? My, have times changed. Who would have thought we would have cell phones that check emails and fit in our pocket? And that we would be able to take a picture of a check and instantly deposit it in our bank account? Technology has truly been an eye-opening phenomenon over the past three decades.

With this ever-changing technology comes some very scary times for pawnbrokers. Because of the internet, we have electronic reporting requirements making it easier and quicker for law enforcement to gather information to solve property crimes. However, this also brings opportunities for pawnbrokers to fall out of compliance by not reporting in a timely manner. Add in the Military Lending Act responsibilities to check all customers for active duty status, and yet another compliance issue arises. With the new compliance requirement to collect social security numbers, yet another burden falls on the pawnbroker to protect our customers’ sensitive personal data.

While new technology is great for the average person, businesses are constantly seeing problems arise from the side effect of these advances. The good news is the current administration sees the burden being placed on small businesses from federal agencies and the federal government, and is doing something about it. President Trump has asked for a plan from all federal agencies within the executive branch to review their efficiency, effectiveness, and accountability. The plan, due within six months, is to determine if a reorganization or elimination of any agencies is warranted.

Let’s hope the administration recognizes the burdens placed on small businesses, specifically pawnbrokers, and eliminates some of the unnecessary compliance issues that slow our transactions and hinder what we do most - helping underbanked people get short-term cash until their next paycheck.

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Table of Contents

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Cover Story NPA Celebrates 30 Years Page 41

31

highlights Out of the Ordinary Marketing Ideas What Is a Good Pawn Loan?

Pawn Expo 2017

Contributors for this issue of National Pawnbroker

27 31 40

Greg Engstrom AmeriPawn of Valparaiso Steve Fowler SteveFowler.com

In this Issue Message from the President 1 Message from the Executive Director 4 Business Solutions

Higher Cut Grades Convert to Cash 19

Rapaport: Diamond Industry Adjusts 22

Add Extra Sparkle to Your Jewelry 45

I’m a Store, Not a Shop 49

Boosting on Facebook?

53 Certified Pawn Professional (CPP)

Mastering the Pawn Profession 14 Community Involvement

FBL 2017 Scholarship Winners 60

Arielle Baker: Past FBL

Scholarship Recipient 63 Compliance

AML Compliance Course 59 Government Relations

Government Relations Team Defined 6 Member News

NPA Board of Directors 34

NPA Annual Awards 37

Malorie Kaye

Cameo PR (for White Pine Trading)

27

Rudy Klancnik Avi Krawitz The Rapaport Group

Member Benefits

Finding Friends with Pawnfyndr

“This Week in Pawn” Newsletter Member Spotlights

Young Pawnbroker to Watch Pawnbroker

Industry Partner Member News

New NPA Members

State Association News Book Corner Pawnder This Calendar of Events Advertiser Index

8 12 9 10 16 56 64 61 66 68 68

Emmett Murphy 3 CLiCk Media Kathy Pierce Monster Pawn Joanne Slawitsky Lighting4Diamonds Michael Willingham iPawn Arkansas, Inc

National Pawnbroker is the official publication of the National Pawnbrokers Association (NPA), and is published quarterly. No part of this publication may be reproduced without the written consent of Dana Meinecke, NPA Executive Director. Sale or distribution of any or all of the contents of this magazine is prohibited. All rights reserved.

For more information on advertising or to obtain additional copies of National Pawnbroker, call (817) 337-8830, or send an email to Margie@NationalPawnbrokers.org. For membership information, email Helen@NationalPawnbrokers.org. EDITOR’S NOTE: This publication is designed to provide accurate and authoritative information on the subject matter covered. It is provided and disseminated with the understanding that the publisher is not engaged in rendering legal or other professional services. If legal advice is required, the services of a competent professional should be sought. Expressed opinions are those of the author and do not necessarily reflect the views of ownership. © 2007-17 National Pawnbrokers Association: PO Box 508, Keller, TX 76244 • (817) 337-8830 • NationalPawnbrokers.org EDITOR: Margie Swoyer, Director of Communications & Marketing, Margie@NationalPawnbrokers.org DESIGNED BY: SPARK Publications

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message from the executive director

Moving the Industry Forward Pawn Expo 2017 is now in

Dana Meinecke NPA Executive Director

the record books and was another exciting success.

Attendees were “Powered Up!” with new sessions, new speakers, and new vendors on the trade show floor as they celebrated NPA’s 30th anniversary. I’d like to personally thank all of our sponsors for their generous support to the NPA including:

Palak Diam Padmavati Exports, Inc ABC Diamond Buyer Simplex Diam, Inc Geib Refining Corp The Trendz Marshall & Sterling Sparkle & Dazzle/Chetan Collection Aagam Creation LLC

Wexler Insurance Agency, Inc Technology Media Group Bluestone Trading Company, Inc Saumil Diam LLC Shri Diamond, Inc Di-Moksh Diam, Inc

Pawn Expo 2018 will again be at The Mirage in Las Vegas, but it will be in a new space that is closer to the elevators, restaurants, and shopping—much less walking! The dates are July 10-12, so be sure to mark your calendar. Additional details will be forthcoming in the next several months.

Congratulations are extended to the five

pawnbrokers who received their Certified Pawn Professional (CPP) designation at the annual membership meeting on Tuesday, July 11. The new recipients are: •M ichael Gamber, Mentor, OH •R oger Hunnicutt, Pendleton, SC •L arry Nuckols, San Antonio, TX •S cott Paulsen, Seaford, DE •J ames Starnes, Taylors, SC For more information on the CPP program, see page 14.

Tim Collier, NPA’s newly-elected president, went to Washington, DC, in July where he met with senior officials from the Vice President’s office. They discussed the Military Lending Act and the CFPB’s use of civil investigative demands (CIDs). The Administration was receptive to our concerns and had some great insights to inform our efforts to seek relief.

The past few years have been filled with changes on both the legislative and economic fronts. Your NPA membership dollars help the NPA leadership and government relations teams monitor these changes and provide a best course of action. The 2018 NPA membership drive will begin this fall and, with your support, the association will endure. We very much appreciate your continued endorsement for what we do for the pawn industry and look forward to receiving your membership renewal. To learn more about the actions of the NPA government relations committee, turn to page 6.

NPA STAFF

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Dana Meinecke

Margie Swoyer

Executive Director Dana@NationalPawnbrokers.org

Director of Communications and Marketing Margie@NationalPawnbrokers.org

Helen Moore

Brittany McCorkle

Director of Membership Helen@NationalPawnbrokers.org

Program Coordinator Brittany@NationalPawnbrokers.org

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Mailing Address: PO Box 508, Keller, TX 76244 Physical Address: 891 Keller Pkwy, Ste 220 Keller, TX 76248 Phone: (817) 337-8830 Fax: (817) 337-8875 NationalPawnbrokers.org

Stay Polished.

Always Shine.

Find everything you need to polish anything at Stuller.com/Polishing.

Stuller.com

800 877 7777

Government Relations

Government Relations Team Defined Walking the Hill and meeting with our elected officials and staff sounds intimidating —and sometimes it is. Telling them you are a pawnbroker and would like to address banking concerns can be even more intimidating. You are a pawnbroker and you know what you do; they have no idea. Some will smile politely, nod, take notes, and will have that look...you know the one.

The look you give your kids’ teachers when you are forced into a parent/teacher conference.

How can you change “the look” to “I had no idea.

That is interesting. How can I help?” Remind them you are a small business that employs X amount of people. They get that. Add in your customer numbers, and that equates to a large number of votes back home.

Small business is a hot topic in Washington, DC, and at home. Now, you have their attention. I know you’re thinking, “Kathy, they already know I am a small business!” Nope. Honestly, it never occurs to them that you have employees and they have families, too. Most think you are a one- or two-man operation sitting behind a dusty counter in a small shop in mid America. They do not know your story. Only you, your employees, and your customers know your story. It is our job to remind them every time we get the chance. It’s not intimidating when you talk about your passion and your livelihood.

“But Kathy, my NPA dues are so expensive!

Why is $450 of it for government relations? What the heck does government relations do? Do I really have to pay that for each store? Why?” These are

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Kathy Pierce Chairman NPA Government Relations Committee

just some of the questions we get, so this is a good time to go over what YOUR government relations team has been working on for YOU and YOUR business for many years…not just this one.

MLA

The Military Lending Act (MLA) is always a good one to start a conversation. The MLA effective compliance date was October 3, 2016.

A quick recap of the MLA: a requirement for all lenders to run customers’ name, date of birth, and social security number through the Department of Defense DMDC website to receive a positive or non-positive reply for active duty military, their spouse, or dependents. If the response is positive, they are qualified; no loan can be written for them for over 36 percent APR. Asking for your customer’s social security number is a tricky proposition. If Target had a problem keeping those numbers safe, why are they asking small business pawnbrokers to be in charge of them? It’s illogical, at best. But remember, it’s a regulation of the Department of Defense and enforced by the Consumer Financial Protection Bureau (CFPB) so....illogical and Washington, DC, sometimes go hand in hand.

In addition to our request for continuing the pawn industry’s prior exclusion from the regulation, our proposal to both agencies was to prominently display signage in our stores referencing the ruling and offering a special rate for all military personnel and their families - no social security numbers involved. They liked the

Government Relations

“ Remind them you are a small business that employs X amount of people.”

through answering the CID questions, plus more demands for information, determining just what they’re really looking for, and limiting the scope and lookback period. Your NPA government relations team has been working with Congress and the current administration to obtain a limit on these CIDs, so they are not handed out fast and loose without much thought as to how they can create chaos in a small business in a short time period.

Small Dollar Rule

idea, but would not consider it as qualifying us for the “safe harbor” we pawnbrokers need. The NPA government relations team wants safe harbor for all our members. We are continuing to work for a solution to do just that without the need for Social Security numbers. If your government relations team can find it and close the deal, we will have a safe harbor product for you.

CIDs

What is a CID and why does the NPA government relations team need to worry about it? A Civil Investigative Demand (CID) is the no-restrictions super power method the CFPB employs that has the ability to shut down a business fast. A CID from the CFPB requires an answer to questions, in their format, within 10 days. You will have to hire an attorney experienced in this federal area – not the lawyer down the street who does wills and real estate closings – to guide you

The release of the CFPB’s Small Dollar Rule is expected as this article is being written. The CFPB Director, Richard Cordray, has expressed interest in running for governor of Ohio. He is the first director of the CFPB, and leaving such a large footprint behind will no doubt add stars to his resume. What will the final Small Dollar Rule contain, and are pawnbrokers still excluded, is anyone’s guess right now. This cloud leaves your government relations team reading every article in banking publications, The Wall Street Journal, etc., on a daily basis looking for hints. Honestly, I have not read this much since I was in college.

There is more, lots more, that your government relations team does for the NPA while at the same time running our own businesses. Cliff Andrews, our lobbyist in Washington, DC, spends an enormous amount of time monitoring hearings and meeting with staff and members of Congress.

(Continued on page 52)

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Have you ever met a pawnbroker at an NPA event, but couldn’t find their business card once you got home? Did you ever visit a new city and wonder which pawn stores were NPA members? No worries! You can find the needed information by using PawnFyNdR.com if you know the store name or the city and state where they are located.

PawnFyNdR.com is an online pawn store locator that lists NPA pawnbroker member stores. Each month, it’s populated with the store name, address, phone number, and website of current NPA members in the U.S. and Canada. It also includes a link to Google maps so you can get directions should you want to stop by for a visit.

There are two ways to access the site: 1. Look for the PawnFyNdR.com link on the NPA home page (NationalPawnbrokers.org) in the “Are You Taking Advantage of Your Member Services?” box.

2. Go directly to PawnFyNdR.com.

If your store is not listed or contains inaccurate information, send an email to Connect@NationalPawnbrokers.org. The website is updated around the 15th of each month, so look for updates after that date if you have submitted a change.

Young Pawnbroker to watch

Willie Showell

Best Advice I Ever Received: Treat every customer as if they are the deciding factor in the shop staying open.

Head Manager Nathan’s Lynnhaven Pawn Shop Virginia Beach, VA

My Advice to Pawnbrokers New to the Industry: Be a sponge. Learn by listening more and talking less.

Years in the Pawn Industry: 19

Most Significant Accomplishment: Gaining the respect of fellow pawnbrokers who have been doing this for much longer than I have.

People May be Surprised to Know That I: • listen to every genre of music • am very good at math and anything to do with numbers.

How the Pawn Industry Should Prepare for the Future: By educating young pawnbrokers on the traditional ways of running a pawn shop like we used to do before the internet and technology took over.

My Media Mix Musical Artists: Bruno Mars, The Notorious BIG, Nirvana, Usher, Bootsy Collins, Curtis Mayfield, NAS, Jay-Z, 2Pac Social Media Platforms: Facebook and SnapChat TV Shows: NCIS, Overhauled, Martin, Chicago PD, Blindspot

When I’m Not at Work, I… Work out at the local gym, travel with my wife, think of ways to make my shop more successful and how to gain new customers.

Role Model: Jay-Z, because he used his surroundings (good and bad) and made them work for him to become a very smart business mogul on a national level.

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Pawnbroker Spotlight

South City Pawn Wisdom from a West Coast Pawnbroker Dave Newman is both president and head janitor

of his South San Francisco, CA, store, South City Pawn. Established in 1969, he and his brother took ownership of the store in 1989. They have been members of NPA ever since.

National Pawnbroker (NP): What makes

your stores different from other pawn stores in the area?

Dave Newman (DN): In a word, service. We pride ourselves in delivering a higher level of customer service than our competitors, and make each customer feel like they are a part of our family.

I’m also a dog handler for the state and county Search and Rescue teams, and my dog, a 100-lb.

German shepherd (who is also our store security officer), conducts regular therapy sessions with local kids in our store.

NP: In your opinion, what are the biggest

challenges facing pawnbrokers today?

DN: From my perspective, the biggest challenge comes from the politicians who prey upon our customers by passing legislation and rules that look good on the surface, but, in reality, make it more difficult to obtain the financing they need to pay their bills.

NP: How has the new Military Lending Act rate cap affected your company?

DN: Not at all. We’ve always been a militaryfriendly business. Most of us are veterans ourselves, and we’ve always offered discounts to military members and their families as a way of saying thank you for the sacrifices they make. Here in California, we’re a low interest rate state anyway,

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Dave Newman and his wife, Marilyn

so the new mandated rate didn’t really affect us.

The question that should be asked is: How has the MLA affected the military families that are now afraid of using our services in fear that it will get back to their commanders and be reflected in their next evaluation?

NP: What advice would you give someone just

entering the business?

DN:

• You’re entering one of the most fun, educational, and rewarding career paths you could choose and one with many challenges and temptations.

• Always remember that the customer is the only thing keeping you from getting a boring job like everyone else. Treat each customer like they’re special, and let them know you appreciate that they chose to come to you.

• Be an active part of your community and give back to it often. You will stand out from your competition and be rewarded for your efforts.

• Be patient with your customers. Many are in dire straits and you are their last recourse. Their

Pawnbroker Spotlight attitude isn’t personal; you’re just the person in front of them when they felt the need to vent.

• Whatever your buildout budget is starting out, double it, and then add a few extra dollars. Build a store that you’d be proud to have your family/friends/pastor/rabbi visit.

• Always remember that your primary job is selling money and finding the balance between how much you give out without giving so much that the customer doesn’t come back for it.

• Regardless of the profit, you can only sell it one time. But you can re-loan on it forever, and that is the goal.

• No matter what part of town your store is in, you are in charge of the type of clientele you will attract, so build the store that will attract the type of customers you want.

• Finally, there is no excuse for poor customer service. What you show the public, the public will reflect back at you.

NP: How does your company give back to the community?

DN: Through volunteering in the school reading programs, donating instruments to the music classes, and by providing emergency assistance (food baskets). We also donate our services to search and rescue to aid community members in locating family members who have gone missing.

NP: Why are you a member of NPA? DN: I was originally sent to the NPA by

my state association president (the second organizing meeting in Miami) in order to keep an eye out for anything being done nationally that could affect our state. I’ve stayed with the NPA since that time because the people have become family. Even after all these years, I still learn something new to take back to my store every time we get together.

NP: Tell us something about yourself that

would surprise us.

DN: “I have nothing else to say” should be a surprise to anyone who knows me.

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member benEfits

Keeping NPA Members Informed NPA debuted a new industry newsletter in June entitled “This Week in Pawn”.

The newsletter features pawn stories from around the country that are of interest to members. It’s emailed to all NPA members every Tuesday and replaces the “NPA Weekly Newsbrief” previously sent by Multiview.

The newsletter is produced by Naylor Association Solutions, an integrated media communications company that provides advertising, publication, and media services to the pawn industry.

NPA is proud to serve as the nation’s leader in the industry and as the voice of the profession. Our media outlets provide valuable opportunities to present in-depth perspectives on the vast array of issues important to our membership. We are confident that our partnership with Naylor

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will continue to increase the unmatched educational, networking, and promotional opportunities already included in our membership.

If you have a suggestion for an article in the newsletter, email Dana@NationalPawnbrokers.org.

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Certified Pawn Professional

New CPP graduates receive their certificates at Pawn Expo 2017. L to R: Willie Showell, James Starnes, Roger Hunnicutt, Larry Nuckols, Scott Paulsen

Mastering the Pawn Profession An update on the CPP program NPA’s Certified Pawn Professional

(CPP) program is now in its third year and continues to attract new participants. Course offerings have been administered to over 120 pawnbrokers since its inception in 2015, with 11 of them completing the requirements to receive their CPP designation. Those who can now add “Certified Pawn Professional” to their bio include: • Douglas Braswell - Braswell & Son Pawnbrokers, Little Rock, AR • Don Clark - Clark Loan & Jewelry, Inc, Aberdeen, MD • Maurice Fuller – Chesapeake Square Pawn, Chesapeake, VA • Michael Gamber – Mentor Financial Jewelry and Loan, Mentor, OH • Roger Hunnicutt – Tiger Pawn Shop, Pendleton, SC • Ben Levinson – Dynasty Jewelry & Loan Ltd, Norcross, GA • Larry Nuckols – Brittex Financial, Inc, San Antonio, TX • Scott Paulsen – Peninsula Pawn, Seaford, DE • Willie Showell – Nathan’s Lynnhaven Pawn Shop, Virginia Beach, VA • James Starnes – American Pawn Exchange, Taylors, SC • Nick Uroda – Clark Loan & Jewelry, Inc, Aberdeen, MD

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The CPP program covers a wide variety of topics that are essential to the business of a pawnbroker.

Receiving the designation elevates the professional standards of the recipient, recognizing him/her as one who is committed to their profession. It can open opportunities for advancement, increase earning potential, improve business acumen, and build confidence in pawn knowledge.

Courses are offered several times a year - at Pawn Expo, the industry’s national convention and trade show, as well as at other select locations around the country. The six course offerings include: 1. Store Operations 2. Marketing, Advertising, and Public Relations 3. Human Resources 4. Product Knowledge 5. Federal Regulations 6. Security, Risk, and Crisis Management Who can participate?

New candidates to the program must have at least three years of full-time work experience in the pawn industry and must complete the CPP application prior to registering for the first course. There is an application fee of $25 for members and $50 for nonmembers. Approved CPP applications remain active for one year from the application approval date. If a candidate does not take their first course within one year, their application will become inactive and they must reapply.

Certified Pawn Professional Completing the CPP Designation

The CPP designation is obtained when a candidate completes the required number of courses, currently five out of six. Candidates have three years from the date of their first course to complete all required courses and they must recertify every three years in order to maintain their designation.

On-location courses are activity-based learning environments where the students actively participate and learn from their peers as well as the instructor.

Courses begin at 8:30 a.m. and conclude at 4:30 p.m.

Students must attend the full course and pass the exam at the end of course (offered that day) in order to receive credit. Breaks are provided throughout the day.

Once a student is registered for a course, the course workbook is emailed to them prior to the course date. Candidates are required to read the workbook prior to attending the course and are responsible for printing and bringing the course workbook with them. Exams cover the material in the workbook.

NPA membership is not required for participation

upcoming CPP Courses: Human Resources September 16, 2017 Columbus, OH

Marketing, Advertising, and Public Relations October 20, 2017 Grapevine, TX

For more information, visit NationalPawnbrokers. org/about-the-cpp-program or email Helen@NationalPawnbrokers.org.

in the CPP program, but it is highly recommended, and members do receive a significant discount on the course fees. The cost for each course is $199 for members; $499 for non-members.

So, why get certified if you already know how to do your job? Because it separates you from your peers and gives you the personal satisfaction that you have mastered your profession. And that’s a great return on your investment!

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Industry Partner Spotlight

GIA headquarters in Carlsbad, CA, features an education campus, a laboratory, and a research facility.

Photo by Eric Welch © GIA

Gemological Institute of America Providing gemstone education and research for over 75 years Founded in 1931, the Gemological Institute

of America (GIA) has been providing gemstone education and research to the public for over 75 years. Their mission is to ensure the public trust in gems and jewelry through research into diamonds, pearls, and other gems; to provide education programs in gemology, and jewelry design and manufacturing; and to offer laboratory services to identify and grade the qualities of diamonds, pearls, and colored gems.

After recognizing the need for a comprehensive approach for understanding and evaluating gemstones, former retail jeweler Robert M. Shipley and his wife, Beatrice, cashed in their savings to establish GIA in 1931. GIA developed not only as a place for gemological study and research, but as an educational resource that organized and shared gem knowledge with the public.

In the 1950s, GIA created the international standard for describing diamond quality: the 4Cs (Color, Cut, Clarity, and Carat Weight) and the GIA International Diamond Grading System™, which is recognized by virtually every jeweler in the world.

GIA Today

Today, GIA operates as an independent nonprofit organization with more than 3000 staff members and a presence in 14 cities around the world – all major gem and jewelry centers. Its headquarters

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in Carlsbad, CA, features an education campus, a laboratory, and a research facility. Locations around the globe include: • New York (education campus and laboratory) • London (education campus) • Antwerp, Belgium (research) • Gaborone, Botswana (education campus and laboratory) • Johannesburg, South Africa (laboratory) • Ramat Gan, Israel (laboratory) • Dubai (education campus) • Mumbai, India (education campus and laboratory) • Bangkok, Thailand (education campus, laboratory, research) • Hong Kong (education campus, laboratory and research) • Taipei (education campus) • Seoul (education campus) • Tokyo (laboratory) GIA’s mission to protect the gem and jewelry buying public touches all aspects of the retail experience. Your customers will benefit from interacting with professionals who are educated about gems and jewelry, and who can provide the most knowledgeable evaluation of their pieces.

New Trends in Diamonds and Gems

The diamond industry is still evolving from a

Industry Partner Spotlight single channel rough supply market (i.e., De Beers) to a multi-channel market. The result has been increased volatility in prices and supplies. Demand has been relatively flat worldwide for several years with the only real price growth at the extreme top end.

In colored gems, the trend has gone the opposite way, with larger, more mechanized operations accounting for an ever larger share of ruby, sapphire, and emerald production. Country of origin determination, always an important factor in colored gem value, has become even more important as fair trade and sustainable production issues are further ingrained in consumer choices.

Helping Pawnbrokers

GIA Education courses can help NPA members – and anyone with an interest in gems and jewelry – understand properties of diamonds, gems, and jewelry, and be able to speak knowledgeably about them to their customers.

GIA offers a 10 percent savings on tuition

to NPA members; contact GIA Admissions in Carlsbad at (800) 421-7250 for more information.

GIA’s Keys to Success

GIA is a mission-driven organization, so being true to that mission by applying their knowledge of gems and jewelry to help protect the public drives their success. Students around the globe turn to GIA for the knowledge, skills, and credentials that help launch successful gem and jewelry careers.

Also, the standards they have developed – the 4Cs of diamond quality; the color and clarity grading scales for D-to-Z diamonds; and their standards for colored diamonds and colored gemstones – are universally accepted. Whether someone is looking for education or to better understand their gemstones, GIA has a lot to offer.

Visit GIA.edu to learn more about GIA’s education, research, and laboratory services, along with the latest news from the field and from GIA’s world-renowned library and museum.

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BUSINESS SOLUTIONS

Higher Cut Grades Convert to More Cash

by White Pine Trading

When purchasing or loaning on a diamond, most pawnbrokers know to pay close mind to carat (or size), color, and clarity as the obvious determinants. However, many don’t realize that it is essential to take cut into account as well, as the cut of a diamond can considerably affect the overall value of the stone.

Cut, also known as the “make” of a diamond, refers to how well a diamond’s facets interact with light. To the untrained eye, the idea of cut appears to represent a simple shape or design, but in actuality, the cut is what gives a diamond its scintillation, fire, and brilliance, or what many tend to sum up as its “sparkle.”

Today, more than ever, the quality of a diamond’s cut is of paramount importance when assessing its value. This quality is graded using a five point scale that ranges from Poor to Excellent. Not only do Excellent and Very Good diamonds demand the highest prices in the marketplace, but these diamonds have also become the most popular with consumers as they clearly result in the most glittering

end result. Notice on the scale pictured that Excellent cut diamonds will command 25 percent more than a Good cut stone. Adversely, a Poor cut stone can be worth as much as 25 percent less, which is a substantial reduction and, if gone unnoticed, can lead to severely overpaying for a stone.

Excellent

Very Good

Good

Fair

Poor

+25-30% More Value

+15-20%

-

-15%

-25-30% Less Value

Typically, cut grade is listed on GIA, AGS, and select EGL laboratory certificates, which accompany a great deal of the stones in the marketplace. In that case, brokers, buyers, and customers alike can quickly determine how much more or less any given stone may be worth to them based on the cut certification listed. If cut grade is not included, there are a number of key indicators that will assist in exposing a Fair or Poor cut grade.

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Below are a few gauges to look for when evaluating stones. These can easily help you avoid overpaying for a diamond.

Culet

Ideal Table

Large Table

A large table: This refers to the flat surface on top of the stone. The larger the table, the larger the stone appears to the naked eye when set, which can increase both perceived and real value. However, too large a table can indicate a less than ideally cut diamond.

Thin Girdle

Thick Girdle

A very thick or very thin girdle: The circumference of a diamond, dividing the crown from the pavilion. A thick girdle adds dimension to the stone and allows more light to penetrate the stone, making it appear more beautiful. However, too thick a girdle can mean the diamond is deep.

Off-Center Table

Off-Center Culet

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Open Culet

An open culet: Diamond does not come to a point, resulting in an additional facet. An open culet will determine the way light is distributed throughout the stone’s facets, affecting its amount of sparkle.

In response to consumer demand, industry trends point to re-cutting diamonds with a Good, Fair, or Poor cut grade as a way to achieve a Very Good or Excellent cut rating and create more value. Since carat weight will be lost during re-cutting, you must consider characteristics of the final re-cut product when you originally offer on diamonds with lower cut grades. Because carat weight is often valued in increments, sacrificing a small portion of the weight in exchange for a higher cut grade can absolutely be worthwhile, and add worth to the stone.

Here’s a real-life business example of how recutting will affect the value of a diamond: A Good Cut 1.20ct G VS1 is worth significantly more than a Good Cut 1.05ct G VS1 – not just because it has more weight, but because when the 1.05ct diamond is re-cut, it will most likely drop below a carat, whereas the 1.20ct should remain above 1.00ct even after it is re-cut to an Excellent cut grade.

Out of Round Girdle

Fair or poor symmetry: An off-center table, off-center culet, or girdle that is not perfectly round are key indicators. Each of these elements, when existent, creates a weighty imperfection to the symmetry of the stone, greatly affecting its overall exquisiteness.

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If you are unsure of cut grade or value, contact White Pine Trading for a free evaluation so that you can continue to loan with confidence. White Pine’s experts buy all sizes, shapes and qualities of diamonds, including broken and chipped. If you have diamonds or diamond jewelry that you would like to sell, schedule an appointment with their experts by phone: (646) 791-3777 or email services@whitepinediamonds.com.

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BUSINESS SOLUTIONS

Diamond Industry Adjusts as Changes Take Hold

By Avi Krawitz, Rapaport Group

The diamond industry has its fair share of

challenges, ranging from the threat of synthetics, to navigating the volatile global economy, to changing consumer habits and shrinking profit margins.

Among those, however, the need to lift consumer demand is widely recognized as the most pressing.

“Consumer desire is the single source of a diamond’s value,” Paul Rowley, executive vice president of De Beers global sightholder sales, stressed during a panel discussion at the recent JCK Las Vegas show. “We [De Beers] mine as a consequence of consumer desire, and therefore, we mine according to consumer demand.”

Panelists in the discussion, which Indian diamond manufacturer SRK Exports hosted, agreed that to raise demand, the industry needed to assess how it was marketing diamonds and to sell the product in a different way.

Rowley urged the industry to embrace storytelling as a means of interacting with a changing consumer base. The messaging must

communicate that a diamond holds intrinsic and emotional value, added Tom Moses, executive vice president and chief laboratory and research officer at the Gemological Institute of America (GIA).

Polished Prices Slide

Diamantaires were encouraged by an apparent rise in storytelling marketing planned for the second half of this year. The Diamond Producers Association (DPA) secured a $57 million budget for 2017 — of which $50 million has been earmarked for the U.S. — to fulfill its mandate of leading a generic marketing campaign on behalf of the industry.

Ultimately, the goal of the DPA’s campaign is to lift polished prices and allow margins to grow, the group’s CEO, Jean-Marc Lieberherr, said in a recent interview. This will empower the industry to restore profitability and invest even more in marketing, he explained.

The DPA has its work cut out for it, as diamond

RAPI for 1-carat diamonds slid 2.5% in the first half of 2017, after falling 5% in 2016.

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prices continued to soften in June. The RapNet Diamond Index (RAPI™) slipped 0.8% during the month. RAPI for 0.30-carat diamonds fell 1.5%, while RAPI for 0.50-carat diamonds declined 3% and RAPI for 3-carat diamonds dropped 1% during the month (see chart on page 22).

The Rapaport Melee Index (RMI™), tracking small diamonds often recovered from set jewelry and traded in the pawnbroker and secondary market, was stable in the second quarter. The index was 1.9% below its level from one year ago (see chart above).

The trade is assessing its marketing strategy to lift demand as polished prices continue to soften and profit margins shrink.

A Need to Adapt

Suppliers reported tighter profit margins in recent months as polished demand remained sluggish and rough prices firmed. The largest mining companies — De Beers and Alrosa — raised prices an estimated 3% in the first half of this year.

In addition, De Beers limited its sales at recent sights, with rough buyers speculating that the company was trying to align its supply with lower levels of polished demand. Lower supply has also helped support rough prices, others noted.

Analysts at VTB Capital expect that higher rough prices might stimulate “the long-awaited increase in polished prices,” especially as Chinese

demand shows signs of recovery. Diamantaires are less optimistic, noting that consumer demand for diamond jewelry remains cautious and purchases have shifted to lower price points.

In 2016, global consumer demand for diamond jewelry edged up 0.3% to just over $80 billion, driven by strength in the U.S. and a slight improvement from local currency sales in China, according to the De Beers 2016 Insight Report published in June (see chart on page 24).

De Beers expects similar marginal growth in 2017, signaling that much remains to be done to stimulate stronger growth. Rowley cautioned that the industry would need to adapt to a changing

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7/19/17 9:53 AM

market, particularly as retailers adjusted to omnichannel sales.

“We are still going through the biggest change in consumer behavior,” he said. “Our opportunity lies in the creativity and innovation we bring to telling the diamond story.”

The Rapaport Group is an international network of companies providing added value services that support the development of fair, transparent, competitive and efficient diamond and jewelry markets. Established in 1978, the Rapaport Price List is the primary source of diamond price and market information. Group activities include Rapaport Information Services, Rapaport Magazine, and Diamonds.net, providing research, analysis and news; RapNet – the world’s largest diamond trading network; Rapaport Laboratory Services provides GIA gemological services in India, Belgium and Israel; and Rapaport Trading and Auction Services specializing in recycled diamonds and jewelry.

The Group supports over 20,000 clients in 121 countries and has offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai, and Hong Kong. Additional information is available at www.Diamonds.net.

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BUSINESS SOLUTIONS

Out of the Ordinary Marketing Ideas

by Michael Willingham, iPawn Arkansas

As retailers, we are always researching ways to get more traffic through our doors.

Not just traffic, but potential new customers we might persuade to do business with our company. The internet brought new competition for brick and mortar stores; however, social media can help level the playing field when used strategically. One thing is certain. We can no longer say: “We’ve always done it this way.”

When it comes to marketing, thinking outside the box does not always have to be expensive.

With the ever changing environment of what is needed to operate a small business (customer needs, employee needs, cash-flow, marketing,

inventory, software, etc.), there are many lowcost ways to find new customers.

Social Media

Social media is a marketing must. But to advertise on social media, you need an audience, or followers. There are many ways to get a lot of followers on social media and just as many companies will let you pay them a fee to get you your followers. However, most likely these followers will not be local. You want local followers!

Here are some marketing strategies we tried at iPawn Arkansas that were very successful in gaining local followers.

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Giveaways

When we started our business six years ago, we began a campaign with every customer who walked in. It was simple: “If you like us on Facebook, we’ll give you a free DVD.” This worked well, but didn’t put us on the fast track to gaining followers. iPawn Cash

The important thing to remember about ideas is that being a copycat is okay. You may remember a few years ago there was a man in California who created a scavenger hunt by hiding envelopes of money around the city and tweeting out clues to the money’s location on Twitter.

We adopted this idea, changed it up a little, and expanded it to our Facebook and Instagram pages.

We had iPawn envelopes printed and began hiding one envelope around the city each day for the first two weeks in June. We chose June because school is out, it’s the beginning of summer, and if you know anything about Arkansas, it gets hot and humid after June.

These envelopes contained anywhere from $20 to $100. We used #ipawncash and #payitforward for our social media posts that included a picture of where the money was and a riddle or clues. After a few days, we went from about 600 followers on Facebook to over 7,000. This really caught traction when all of the local news organizations did stories

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on iPawn Cash, which resulted in a lot of free publicity on television, radio, and social media. iPawn Rock

The iPawn Cash promotion was successful but needed to be reinvented. We came up with the idea of hiding a rock on public property in the city, and teamed up with a local radio talk show to announce riddles that would be clues to find the rock. If you found the iPawn Rock, you could win up to $5,000.

BUSINESS SOLUTIONS

Where customers view your business on Google The Google services that customers use to find your business 1 month

Total views 9.5K 600

450

300

150

0 May 8

May 15

Listing on Search 7.54K

We sold iPawn Rock t-shirts at our locations for $10. So the rule was, if you found the iPawn Rock you won $1,000. But, if you found the iPawn Rock wearing an iPawn t-shirt, you won $5,000!

We gave out one clue every morning. The clue was first announced on the radio and then was put on the iPawn and radio station’s social media pages (see above).

We have done this for two years now and it is always a big event that gets a lot of news and social media attention. People actually call and ask when we are doing the iPawn Rock again. The best part about this event is that it doesn’t cost us anything.

The t-shirt sales pay for the grand prize!

The Magic Bullet

Many people ask how we generate so many phone calls and walk-in traffic into our stores.

There is one critical weapon we use that manically locates and grabs individuals who have a need for a pawn shop right now, right out of their vehicles, and in through our doors.

Almost every single one of your potential customers is carrying a smart phone in their purse or pocket right now. If you know what you’re doing, this phone is a magnet to your store! When that customer has a need for a pawn shop, they pull out their phone and search “best pawn shop” or “pawn shop near me”. If you are one of the top

May 22

May 29

Listing on Maps 1.97K

Almost every single one of your potential customers is carrying a smart phone in their purse or pocket right now. If you know what you’re doing, this phone is a magnet to your store! three stores in the search results with the most positive reviews, you will get that customer.

Don’t believe me? In the month of May 2017, we had 9,500 people search for a pawn shop in our area (see the chart above and on the next page).

This is not 9,500 people driving by a billboard who don’t need our services. Instead, this is 9,500 people who are telling us they need a pawn shop RIGHT NOW! These customers are already qualified.

These are the people we want to serve.

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BUSINESS SOLUTIONS

Customer actions The most common actions that customers take on your listing Visit your website 153

1 month

Total actions 795 60

Request directions 211 Call you 431

45

30

15

0 May 8

May 15

May 22

May 29

Of these 9,500 people, 153 of them visited our website. More importantly, 211 clicked for driving directions, and 431 people called our store. These graphs show the results from just one of our locations.

This strategy is called LOCAL SEO. We use a company called front7.net. This company specializes in local SEO for pawn stores and we have enjoyed great results. If you don’t have this dialed in and budgeted, you are “gifting” customers to your competition. Do a Google search for pawn shops in your area. Are you ranking in the top three? Do you have a log of reviews and a position review score? If not, this is the most important adjustment you must make if you want to obtain more customers.

So, try one of these low-cost, non-traditional marketing ideas and see what happens. What have you got to lose?

Michael Willingham is the co-founder, Vice President, and Chief Operation Officer of iPawn Arkansas, Inc., a full-service pawn operation based in Little Rock, AR.

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BUSINESS SOLUTIONS

What is a Good Pawn Loan?

by Greg Engstrom

After the recent bankruptcy news

of a very well-known chain of pawn stores, the question of what is a good pawn loan has resurfaced. There have been many theories in the past decade or so, some used with great success, some that have been forgotten, and some that are as old as the dust in the corner and considered passé.

The idea of making a good loan is as old as the pawn industry itself, and is simply what every clerk does every day. A good loan is one that extends enough cash to the borrower to take care of their immediate need and leaves enough equity in the pledged item to entice the borrower to return and pay the loan plus charges to get their item back.

Sounds simple enough, right?

Then in comes the numbers guy who says there is

more income in those loans and to just up the loan amount. It will return in spades as more money loaned equals more charges (i.e. income) for the same effort. He says if a $100 loan grosses $10 in charges, a better loan for $125 grosses 25 percent more income for the same amount of work, the same item, and in the same amount of time.

Yes, not everyone redeems their pawn loan. But it seems the small bump in the loan amount has not changed the redemption rate, only the bottom line income. This has worked well in many stores and the theory of their business has become “Loan all you can, and buy as cheap as possible.” This seems to be pure genius because you are helping people by loaning them more than if they just give up their item, and you are adding to the bottom line rather

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BUSINESS SOLUTIONS

“ A good loan is one that extends enough cash to the borrower to take care of their immediate need leaving enough equity in the pledged item to entice the borrower to return and pay the loan plus charges to get their item back.”

nicely. If you operate a chain of stores, just imagine the magnitude this difference will make for your company and your own bottom line.

The question remains – what is a good loan? Let me show you an example: John Q. brings you his class ring and wants a loan. The scrap value of the ring is $100. In the olden days, you loaned him $60 on his ring, so if John did not come back, you would make your company $40. And you know John will be back because his dad paid $500 for that class ring. With the new way of doing business, you loan him 25 percent more. Now the loan is $75, still less than scrap and additional income to the company. John is happy that you are his pawnbroker and vows to never go anywhere else. This is exactly what you want to happen - happy customer and increased income to the company.

John comes in a third time and you qualify him again. “John, are you wanting a loan or do you want to sell this ring today?” John answers, “No, this ring means everything to me. I just want a loan and I’ll be back next week. Can

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I get a $200 loan this time?” This newfound genius is still bubbling in your brain, so you say, “John, you are a good customer, but I cannot give you a loan for $200. However, since you are so good, I will give you a loan of $150.” The deal is done and you nearly sprain your wrist giving yourself a pat on the back. Just wait until everyone sees how smart you are and how the monthly reports are going to look because this is not the only John. There are customers that you take care of like this every day!

Now, the ring is overdue and where is John?

His address and phone numbers are not good, so what happened? When the ring is scrapped, the store is going to lose money, and the month-end report won’t look as good, but this is just John. Surely the rest of the customers will pull through. By the middle of the next month, things are looking bleak. There are several write downs facing you, and all those great customers, like John, seem to be disappearing all at the same time.

Does this sound familiar? The new way of loaning money to pawn customers has a way of coming back

BUSINESS SOLUTIONS around, so let’s look at what went wrong.

John was not a loyal customer and had shopped the ring around. The highest cash offer he received was $70. The theory of lending all you can and buying as cheaply as possible lowered John’s expectation (when he was no longer attached to the ring and it was time to sell), so you got sucker-punched.

John knew that you loaned him double his original loan and figured it was a mistake. Since he couldn’t afford to pay off all that money plus the charges, he went away. John is now a customer at a different pawn shop because he is embarrassed.

You took a perfectly good loan and a good customer and “over-stretched” the collateral to the snapping point. John may not be a pawnbroker, but he is street smart, and he was afraid that if he didn’t pick up his loan, next time you would punish him for letting his loan expire. Now John is a customer down the street.

John and all his similarly situational customers are part of the disposable society. If they lose something out of pawn, they just buy a new one

instead of paying what seems like too much to get their item back. What does John buy? John goes to the department store and buys a sterling silver class-looking ring. He sports it proudly because yellow is out of style and everyone is wearing silver. John won’t pawn this new ring with you either.

Let’s revisit the definition of a good loan: “A good loan is one that extends enough cash to the borrower to take care of their immediate need leaving enough equity in the pledged item to entice the borrower to return and pay the loan plus charges to get their item back.” This may be the golden rule of pawnbroking, at least the way I learned it, but you cannot make a good loan out of a bad loan. Customers, in general, are not going to cooperate in a numbers game. They are some of the savviest people on earth which is why they borrow from a pawnbroker.

Greg Engstrom is the owner of three pawn stores in Indiana.

He’s been a member of NPA since 1996.

We buy . . .

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Aagam Creation LLC 75 John Portman Blvd, Suite 6N-306A • Atlanta GA 30303

Cell: 678.773.0195 • Off: 404.474.1563 Bhavesh@aagamcreation.com

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2017-2018 NPA Board of Directors

Officers

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President, Tim Collier Pacer, Ltd Little Rock, AR

Tim is co-owner and managing partner of Pacer, Ltd. He founded the company in 1990 after a 10-year career in retail jewelry with Gordon’s Jewelers and several independent jewelers. He is president of the Arkansas Pawnbrokers Association and past GRC chair of the NPA. Tim and his wife, Lisa, have been married for 32 years and have three sons, Walker, and twins, Garrett and Griffin.

Vice President, Kathleen Barbee Lombard Financial Services Fort Worth, TX

As the Director of Operations and Partner of Lombard Financial Services, L.P., Kathleen is primarily responsible for the operations of the company.

She has spent the last several years focusing on its growth strategy, as well as volunteering for various NPA endeavors. Kathleen is excited to utilize her experience to serve the membership of the NPA. She and her husband, Justin, who serves as the Director of Training and Professional Development for the company, have a son named Elliott, and two dogs, Sadie and Kerley, all of whom are avid TCU fans. Go Frogs!

Treasurer, Robert Anderson, CPA, CMA R & R Pawn Indianapolis, IN

Rob is CFO for R & R Pawn and holds professional accounting certifications in both the U.S. and Canada. He is an Indiana CPA Society award winner for Leadership in Technology and serves as chair of the NPA Finance Committee. He is also Treasurer for the Indiana Pawnbrokers Association and an Advisory Board Member for St. Elizabeth Coleman Pregnancy and Adoption Services. Rob has three daughters. He plays and coaches ice hockey with USA Hockey, and his team won the USA Hockey National Adult Pond Hockey Championship three years in a row (2012-2014).

Secretary, Kerry Rainey Bayou Pawn & Jewelry Hammond, LA

Kerry is the owner of Bayou Pawn & Jewelry, with four locations in Louisiana. He is an experienced jeweler with 32 years on the bench. Kerry has been a member of the Louisiana Pawnbrokers Association for 26 years and has served as a board member, Vice President, and, currently, Treasurer. Kerry and his wife, Sharman, along with their three sons, enjoy traveling and scuba diving.

Immediate Past President, Larry Nuckols Brittex Financial San Antonio, TX

Larry is a co-owner of Brittex Financial and formed Money Mart Pawn & Jewelry in 1993. He has served on the boards of Texas pawn associations for 25 years and currently serves on NPA’s Government Relations Committee. He and Beverly, his wife of 41 years, have two children and one wonderful granddaughter, Veronica.

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2017-2018 NPA Board of Directors

Board Members Edward Bean Suffolk Jewelers, Inc. Boston, MA

Ed is president of Suffolk Jewelers, Inc. in Boston, MA, and is also a lawyer.

As a third generation pawnbroker, he has been in the business for 53 years.

He is a founding member of the NPA, and was elected to its first board of directors in 1988. He is also a past president and served as chairman of the Government Relations Committee. He and his wife, Laurie, have three children and have been married for 16 years.

Douglas Braswell Braswell & Son Pawnbrokers Little Rock, AR

Douglas is the owner of Braswell & Son Pawnbrokers with 3 locations in Central Arkansas. He is a second generation pawnbroker who has worked in the industry for 24 years. Douglas is a Graduate Gemologist, a member of the Arkansas Pawnbrokers Association Board of Directors, and a Past President. He and his wife, Camille, have two teenage sons.

Bill Dawson LDPM, Inc Morrisville, NC

As CEO of LDPM, Inc. Bill developed the Picasso Pawn brand consolidating 10 individually named pawn stores and 7 different companies into one cohesive unit. He started in the pawn business almost thirty years ago as something to do “in between opportunities” and never left. Bill and his wife, Heidi, love to travel and have a cat named Kiki. Bill is a Graduate of East Carolina University and the GIA Diamonds and Diamond Grading program.

He is also an avid Carolina Hurricanes fan. In his free time, Bill can be found either on the golf course or practicing his game.

Michael Goldstein Empire Loan Boston, MA

Michael Goldstein is the owner of Empire Loan, an eight-store pawn chain, operating in Massachusetts and Rhode Island. He is a third generation pawnbroker originally from New York. Michael founded Empire Loan in 1985 and claims to be the first fully computerized pawn store in the northeast.

Through the Empire Loan Charitable Foundation, founded in 2012, he and his staff have contributed over $360,000 to local non-profits. He and his wife, Allison, live in Concord, MA, with their three children.

Lauren Kaminsky E Z Pawn Corp New York, NY

Lauren Kaminsky is President of New York City multi-store operation, E Z Pawn Corp. She is a third generation pawnbroker, and works closely with her father, David, and brother, Jason, to run their 14 stores. Lauren graduated from Boston University’s School of Management where she earned her Bachelor of Science degree in Business Administration and Entrepreneurship.

She is also partners in the pawnshop-concept storefront, Beauty & Essex.

Lauren is a graduate of GIA’s Diamond Essentials course.

Craig McCall DC Management Las Vegas, NV

Craig began the chain of Pawn Plus/USA Pawn & Jewelry Co. in 1995 and is the past Vice President of the Oregon Pawnbrokers Association. He has spent many years on the Board of Directors of a publicly-traded bank and is a part-time instructor at the University of Nevada, Las Vegas Business School. Craig and his wife, Katie, have been married for 25 years and enjoy spending as much time as possible with their four children.

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Brian Moulton National Jewelry & Pawn Durham, NC

Brian graduated from East Carolina University with a degree in systems engineering before deciding to get into the family business. In 2010, he joined his father at National Jewelry & Pawn, a 12-store operation in North Carolina, becoming a third-generation pawnbroker. He strongly believes we can change the negative perceptions of the pawn industry one customer at a time.

Boyd Naylor Bali Credit Corp San Antonio, TX

Boyd is President and co-owner of Bali Credit Corporation which operates five stores in the San Antonio area. Prior to founding the company in 2000, he practiced law in El Paso, TX, for 15 years. Boyd is a member of the State Bar of Texas and serves on the Texas Association of Pawnbrokers Board of Directors. He is married to Alison, whose family has been in the pawn business for almost 50 years. They have been married for 30 years and have three sons – Brooks, Jared, and Reagan.

Scott Paulsen Peninsula Pawn Seaford, DE

Scott Paulsen is the owner of Peninsula Pawn with two locations, one in Delaware and the other in Maryland. He and his wife, Rita, started Peninsula Pawn in 2006, and Scott founded the Delaware Pawnbrokers Association in 2016. In their spare time, Scott and Rita enjoy traveling and spending time with their two kids and two grandkids.

Kathy Pierce Monster Pawn Bloomington, IL

Kathy works at Monster Pawn in Bloomington and has ownership in Midwest Exchange (also in Bloomington) as well as the Monster Pawn stores in Normal and Springfield in central Illinois. A new store in Peoria will be opening this July. Kathy serves as the Chair of the NPA Government Relations committee. She and her husband, Edwin, have been married for 24 years. They have three children: Everson, Annellia, and Tripper. Max, the basset hound, previously worked six days a week at the Bloomington store, but is now retired and spends his afternoons sleeping on the couch with his sister, Honey Bunny, the golden retriever.

Jordan Tabach-Bank Beverly Loan Company Beverly Hills, CA

Jordan is the owner and CEO of Beverly Loan Company in Beverly Hills, New York Loan Company in New York City, Chicago Loan Company in Chicago, and Jewelry-N-Loan in Costa Mesa. He is a member of the State Bar of California and serves as co-chair of NPA’s Government Relations Committee. He and his wife, Casey, have a son, a daughter, and a mutt named Wilbur.

Michael Willingham iPawn Arkansas, Inc. Little Rock, AR

Michael Willingham is co-founder, Vice President, and Chief Operating Officer of iPawn Arkansas, Inc., a full-service pawn operation based in Little Rock, AR. The company began in 2011 as a single store operation and has expanded to three stores servicing central Arkansas. Throughout his career, Michael has learned from colleagues, and has the desire to help others as he’s been helped. For the past five years, he has offered a Radical Mentoring course to 45 hand-selected students. He feels involvement increases awareness and action, and hopes to foster that understanding in those he’s mentored.

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Pawn Expo 2017

NPA Annual Award Winners Recognizing leaders in the pawn industry The NPA held its Annual Awards luncheon on Tuesday, July 11, 2017, at The Mirage Hotel and Casino in Las Vegas, NV, to honor members who have demonstrated superior leadership and service to the pawn industry.

Charles R. Jones Lifetime Achievement Award The NPA awarded its highest honor, the Charles R. Jones Lifetime Achievement Award, to Kevin Prochaska of Lombard Financial Services, Longview, TX. Mr. Prochaska has been a driving force in the growth and development of the NPA. He has served on the association’s board of directors in nearly every capacity, including NPA president from 2011-2013. While steadily growing and maintaining his own chain of stores and adhering to the highest business and ethical standards, he contributed his time and energy to ensure the NPA developed under the same rigorous and watchful eye. He has provided the NPA countless volunteer hours, charitable and financial support, and is the first to volunteer for any task, regardless of how thankless it may be.

His intelligent and personal approach to industry issues, his unerring business acumen, and his formidable accounting skills have been made freely available to his colleagues. He has taught, traveled, consulted, and counseled fellow pawnbrokers through difficult years of growth and change at his own expense.

The Charles R. Jones Lifetime Achievement Award recognizes individuals who, through their outstanding leadership and efforts, have gone above and beyond to make a significant and lasting impact on the pawn industry over the course of their career.

Honorees are regarded by their peers as leaders in the industry and recognized as such, nationally.

Kevin Prochaska is presented with the Charles R. Jones Lifetime Achievement Award by Larry Nuckols.

2017 Pawnbroker of the Year NPA’s 2017 Pawnbroker of the Year Award was presented to Lou Tansky of Uncle Ben’s Pawn Shop, Cleveland, OH. Mr. Tansky was recognized for his exemplary service to the pawn industry on the national, state, and local levels. He served as the president of the Ohio Pawnbrokers Association for 14 years and continues to serve on its board. As a long-time member of the NPA, he has lent his time and energy to assist in nearly every facet of the association’s activities, from government relations to the member forum.

Throughout his career, Mr. Tansky has worked diligently to update Ohio’s pawn statutes. In 2016, he played a pivotal role in uniting Ohio’s independent pawnbrokers with a large corporate pawn store chain to bring about key legislation that benefited all pawnbrokers in the state. He helped to implement continuing education courses for pawnbrokers and has fostered relationships with the press and law enforcement agencies to present the industry in a positive light.

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Lou Tansky accepts the NPA Pawnbroker of the Year Award

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Pawn Expo 2017

2017 Industry Partner of the Year NPA awarded Geib Refining Corporation with the 2017 NPA Industry Partner of the Year Award.

Geib has supported the National Pawnbrokers Association as an industry partner member since 2001 and has sponsored countless special events. In addition to winning this year’s award, they were also the 2007 NPA Industry Partner of the Year, and have become a trusted precious metals refiner serving pawnbrokers across the country.

As a second generation, family-owned business, the Geib Refining Corporation has been melting metal for over 45 years.

Incorporated in 1979, the company has grown considerably and has earned a reputation for integrity and reliability. The team at Geib is also known for their personal relationships with pawnbroker clients and simple gestures of kindness, such as remembering birthdays, special events, or personal achievements.

Larry Nuckols presents the Industry Partner of the Year Award to Ron Steele and Peter Spector of Geib Refining Corporation.

2017 Young Professional of the Year NPA’s 2017 Young Professional of the Year Award was presented to Nick Uroda, Clark Loan & Jewelry, Inc., Aberdeen, MD. The NPA Young Professional of the Year Award recognizes young professionals who have demonstrated exceptional success in their businesses and local communities and have made a significant contribution to the pawn industry during the previous year.

Mr. Uroda completed NPA’s Certified Pawn Professional learning program in 2016, becoming one of the first pawnbrokers to receive the CPP designation. His involvement in the NPA Legislative Conference, where he met with lawmakers on Capitol Hill, resulted in a greater understanding of the positive role the pawn industry plays in serving the financial needs of Americans.

Within his company, Clark Loan & Jewelry, Mr. Uroda has instituted a number of initiatives to improve compliance, human resource practices, advertising strategies, and safety measures, and has become an essential component of the company’s success.

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Nick Uroda accepts the Young Professional of the Year Award from Larry Nuckols.

Pawn Expo 2017

2017 Outstanding Community Relations Award NPA’s 2017 Outstanding Community Relations Award was presented to Braswell & Son Pawnbrokers, Little Rock, AR. Douglas Braswell accepted the award at the NPA Annual Awards luncheon on July 11, 2017.

With three locations in central Arkansas, Braswell & Son Pawnbrokers’ mission is to build lasting relationships while meeting short-term needs in a positive atmosphere. Community begins in the store with customers and employees, and extends into the neighborhood and cities in which the stores are located.

The company supports several local charities by donating a percentage of each store’s sales as well as merchandise for auctions. Braswell & Son Pawnbrokers is actively involved in local outreach groups, including The CALL of Pulaski County, Faulkner County Boys & Girls Club, Children’s Advocacy Alliance, Exodus Project, Law Enforcement Officer Awards – 20th Judicial District, Pulaski County Sheriff’s Awards Banquet, and others. Additionally, in 2015, Braswell & Son Pawnbrokers donated 20 musical instruments to North Little Rock Middle School and provided a $1,000 grant earmarked for instrument refurbishment.

Douglas Braswell of Braswell & Son Pawnbrokers is presented the Outstanding Community Relations Award.

The Outstanding Community Relations Award was created in 2015 and is presented to an NPA pawnbroker or affiliate member company who advances the standard and quality of life in their community through public service or volunteerism.

2017 Outstanding Pawn Industry Image Award NPA’s 2017 Outstanding Pawn Industry Image Award was presented to Dynasty Jewelry & Loan Ltd, Norcross, GA. The award was presented to Ben Levinson at the Annual Awards luncheon on July 11, 2017.

Dynasty Jewelry & Loan Ltd has excelled at creating a multipronged marketing and public awareness campaign that utilizes email, radio, digital, social media, and television advertising focused on consumers seeking to buy, sell, and secure collateral loans. The campaign harnesses creative branding and professional imagery to depict a professional pawn store atmosphere and has put forth a pawn-positive message that reinforces the industry’s core values.

Bolstered by outstanding customer service and a commitment to high industry and ethical standards, their marketing campaign has resulted in superlative online reviews, excellent word of mouth advertising, and a positive standing in the community.

“One of our first customers who walked into our new location said, ‘I feel proud to pawn my items here,’” noted Joel Levinson, company vice president. “This compliment alone proved that our initiative in promoting ourselves and our industry has worked, and our customers see and feel the ‘Dynasty Difference’ when they walk through our doors.”

Ben Levinson, Dynasty Jewelry & Loan Ltd, Norcross, GA, is presented with the Outstanding Pawn Industry Image Award.

The NPA Outstanding Pawn Industry Image Award is presented to an NPA pawnbroker or affiliate member company who creatively generates positive awareness of the pawn industry through a print or digital marketing campaign including television, radio, social media, print campaign, and email. This is the first time the award has been given.

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Pawn Expo 2017

POWERED UP! Pawn Expo 2017 launched on Tuesday, July 11, at The Mirage in Las Vegas, NV,

with a POWERED UP! theme. Some of the highlights of the three-day event included: • Breaking Barriers to Become a Successful Pioneer in Your Field presented by the Opening Session keynote speaker Colonel Eileen Collins, retired NASA astronaut • How to Persuade, Motivate, and Influence Your Peers and Secrets of Successful Critical Thinking & Creative Problem Solving sessions by David Lyons, Corporate Strategies • Yigal Adato’s Leadership: Balance Between Business and Life session

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• Pawnbroker Succession Planning by Dr. Geralynn Miller • Your Way or the Right Way – The Importance of Being in Compliance by Robert Frimet, Cory Brown, and Larry Dunn • 3 new Product Knowledge sessions • 6 new Pawnbroker Peer Roundtable sessions • Trade Show with 19 new vendors

Pawn Expo 2017

NPA Celebrates 30 Years!

NPA celebrated 30 years of

existence at the Welcome Reception on Tuesday night, July 11.

Sponsored by Palak Diam, guests were treated to an array of gourmet delights, a champagne toast, foosball game table, palm readings, caricature drawings, photo booth, and a special singing performance by Butch Tinker from Big A Jewelry Pawn Shop in Lake Charles, Louisiana.

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Pawn Expo 2017

POWERED UP!

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Pawn Expo 2017

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THE TRENDZ

WE BUY

TURN YOUR DIAMONDS INTO CASH MELEES LARGE STONES BROKEN, CHIPPED, EVEN BURNT DIAMONDS as well as UNWANTED JEWELRY

YOU’VE GOT THE KNOWLEDGE, EDUCATION, AND SKILLS. NOW PROVE IT. Top 3 reasons to seek your Certified Pawn Professional designation:

• Validate Experience • Show Commitment • Stand Out from the Competition

MEMBER RATE $199/course NON-MEMBER RATE $499/course

For more information, visit NationalPawnbrokers.org and click on the CPP tab or call (817) 337-8830.

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Courses are available in several states across the U.S. Check the NPA website for a course near you!

• Store Operations • Marketing, Advertising, and Public Relations

• Human Resources • Product Knowledge • Federal Regulations • Security, Risk, and Crisis Management

BUSINESS SOLUTIONS

Add Extra Sparkle to Your Jewelry Submitted by Lighting4Diamonds

Store image and impression are an integral part of any retail operation, but perhaps even more so when selling jewelry. You want your diamonds and gems to sparkle and reflect their brilliant cuts. With the right lighting, showcase, fixtures, and locks, you can put your best “jewelry” foot forward to entice customers.

Lighting

Instore lighting is a critical component to the bottom line of any jewelry retailer although it isn’t usually given the attention it deserves. Putting your merchandise under the best possible lighting conditions is as important as the sign on your front door. Did you know that at noon on a very clear

day the kelvin color of sunlight received from the sun will read 5500K? Back in the “good old days”, jewelers would take their customers outside to best display their diamonds and stones.

There is a diverse selection of solutions to showcase your merchandise. A lighting system can be designed which most closely mimics the natural light from the sun illuminating your diamonds, electronics, and other products, and displaying them in the best light possible.

When designing your lighting solutions, keep a few things in mind. The first (and most important) is how it can help you increase sales. Then consider factors like energy savings, maintenance, longevity, etc. Store owners have a lot on their

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BUSINESS SOLUTIONS plate – maintaining a functional staff, implementing proven solutions to drive sales, the list goes on and on. A turnkey lighting solution will highlight your products and take the guesswork (and the headache) out of color correction, making your job as the owner a little easier.

If your diamond is white, under the wrong kelvin color, it would naturally appear yellowish which can seriously jeopardize your sales. An E color diamond vs a K color in diamond grade is a huge difference in price. Aside from the merchandise itself, strive to create that warm inviting feeling once your customers see or enter your store.

With the right lighting inside your showcases and matching lamps above, your merchandise will pop. Lighting systems can highlight the merchandise with approximately 30 percent more light than the rest of the store, drawing customers to your products. Once the merchandise is taken out of the showcases, the ceiling light from above will maintain the shine.

Showcases & Fixtures

Showcase expertise and manufacturing capabilities are quickly innovating the market. Your selected showcase manufacturer should have the capability to react to the needs of an ever changing retail environment.

The process starts with a talented design team.

From concept to 3D renderings to final production, they should take pride in the creation of your personalized fixture every step of the way.

All fixtures that are constructed should be inspected and reviewed for form, fit, function, material options, and structural integrity. They should be utilizing the most up-to-date technology in millwork and metal fabrication, and their services should be seamless and efficient.

Locks

Having trouble with your showcase locks?

Almost every retailer does. The locks are the last thing many people think about when purchasing showcases. However, they are often the first part of the showcase that will give you trouble.

The locks are the part of the showcase you use the most, and many will complain when they are not functioning properly. After all, if you cannot access your case, you may lose the sale. Educate yourself regarding the differences between lock

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types, security levels, and manufacturers. Spend the few extra bucks to get something that will function well, last a long time, and provide you with the security you require versus what you think you may already have.

The trick is to find that right source and then specify what you want. Do you really like having a key ring full of keys with a different key for each case? It does not have to be that way. Take control over your store environment and ensure that your showcase locks will work flawlessly and will last for years to come. If you specify correctly, only you will have the keys to your “castle” and no one else.

Keep in mind that cheap locks often have the key number stamped right on the face of it. A Google search, such as “showcase key number 915”, can provide the wrong person with the key.

Lighting4Diamonds is a jewelry lighting company providing expert lighting for jewelry retailers. They are your one-stop shop for instore lighting, showcases, and security. For more information, visit Lighting4Diamonds.com.

THE FUNDS YOU NEED TO GROW YOUR PAWN SHOP

Discover PawnBroker Financing (“PBF”), a direct lender to the pawn industry. Operating a Pawn Shop requires a steady flow of cash.

Financing options for the Pawnbroker Industry are typically limited and very restrictive. PBF allows owners in the pawn industry to obtain the cash they need in a timely manner. “Get a Fast Approval for your Pawnbroker Line of Credit”.

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BUSINESS SOLUTIONS

I’m a Store, Not a Shop In My Opinion by Steve Fowler

Reprinted from the Summer 1998 issue of National Pawnbroker.

I’m not telling you anything you do

not already know when I make the statement, “Pawnbroking in America has an image problem.”

Many of the negatives we in the industry suffer are misplaced stereotypes, bred and fed by the entertainment industry and the news media.

However, some of the negatives are based on a measure of truth. We are limited in our ability to engage the media myths, but do have considerable power in overcoming the negatives based on our own actions.

The level of power or control is up to us as individual pawnbrokers. We possess the ability to destroy a number of negatives that bring

harm to our image—individually and collectively as an industry. If we possess the attitude and desire to improve our stores, based on sound business principles and with a good business plan, we can and will eventually overcome those terrible negatives.

Have you developed a philosophy about the image and appearance of our business? Are tools, jewelry, or guns your most important inventory item? Do you engage in continuing education to better yourself and your pawnshop? Follow me as I consider these and other areas of pawnbroking.

1. I never refer to my store by the single word “shop”. I feel it lowers the image of a retail business (exceptions include stores like dress shop and coffee shop). How does “jewelry shop”

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BUSINESS business SOLUTIONS sense

sound? Before you pounce on me, I do use the word pawnshop. I just don’t say, “Hey, drop in to my SHOP, if you’re in the neighborhood.”

I’d rather say, “My STORE is centrally located, and if you’re in the area, please stop in.”

2. I’m a pawnbroker engaged in pawnbroking in a pawnshop. I’m not a hockbroker engaged in hockbroking in a hockshop. There are a number of derogatory synonyms for pawn and pawnbroking and I choose not to let them become a part of my vocabulary. Nor do I permit my employees to use such terms.

3. I am sure most of you would agree that many pawnbrokers should work harder to clean up their stores. We live in a very competitive era and a junk-filled pawnshop is not conducive to decent profits and the presentation of a professional image. I’ve visited hundreds of pawnshops throughout North America and am

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disappointed to say that more than a few of them do not bring to mind terms like professional, clean, tidy, comfortable, or appealing. Evaluate your product mix, market, and methods of display.

4. Too many pawnbrokers don’t know how (or just will not take the time) to clean their stores and their merchandise. Dust abounds in the great majority of the pawnshops I have visited.

If you turn merchandise, thereby turning dollars, dust won’t have time to collect.

5. Pawnbrokers are notorious for paying very little for used merchandise, then pricing those goods with new retail prices. This is neither helpful in building your business nor a healthy competitive marketing strategy.

6. Many pawnbrokers feel the need, or have a desire, to lower themselves to a level equal to, or

BUSINESS SOLUTIONS below, the appearance level of their customers.

Keep this in mind. The book “Dress for Success” was a bestseller. “Dress for Mediocrity” was a flop.

7. Some pawnbrokers condone foul language in their stores and too often participate in this behavior themselves in front of children and other customers. You shouldn’t permit this behavior in your business.

8. Many pawnbrokers fail to bathe and groom themselves properly and regularly. How about a shave? Haircut? Shampoo anyone? My mother has always said soap is “cheap”, and taking time to tidy up doesn’t cost money.

9. Some pawnbrokers fail to keep regular business hours. Just plain dumb.

10. Many pawnbrokers fail to understand the nature of the fiduciary relationship they have with their customers. Therefore, they fail to adequately insure and protect the property of others.

Fiduciary is synonymous with confidence, faith, and trust. Do your actions reflect an appropriate level of responsibility in your role as one who must honor the faith, trust, and confidence your customers have reposed in you?

11. I’ve been in pawnshops without alarm systems.

I know of one that operated (until it went out of business) without a safe. They used a standard filing cabinet with no lock. I know of another that has operated for 20 years using only a bankers (cardboard) box to store pledged jewelry. Many fail to use good screening procedures when hiring employees. Many are too loose with the access they permit to their back room. Friends, employees, boyfriends, children, customers, etc. commonly travel in and out of pawnshop back rooms across this nation.

Give your customers a good reason to trust you with their property.

12. Lawyers, doctors, accountants, jewelers, hotel managers, firemen, chefs, airline pilots, policemen, and others take the opportunity to engage in ongoing education. To remain competitive and competent in this day and age,

The best way to make a profit in this industry is to turn inventory. we must make every opportunity to engage in improving our knowledge and skills. Do you attend your state, regional, and national pawnbrokers association meetings and seminars? If not, the NPA National Convention [Pawn Expo] is a great place to start.

13. A few pawnbrokers fail to adhere to ethical business practices and don’t operate their stores in compliance with applicable laws and ordinances. This creates a multitude of problems for the “Good Guy” pawnbrokers.

Operate your store with common sense, good ethics, high moral standards, community spirit, and within the law.

14. Some pawnbrokers are all too eager to default loans and seize property. The short-sighted nature of those pawnbrokers results in poor public relations when a greedy action results in the loss of both the pawn customer and a redeemable transaction. I’ve seen countless situations where a loan was defaulted at the stroke of midnight, only to sit on the shelves for years. Not smart.

15. A few (fortunately very few, but still too many) pawnbrokers seize pledged property prior to the date noted in their agreement with the pawning customer. Enact procedures to avoid the accidental involuntary forfeiture of pledged goods prior to the expiration of the customer’s contract with you. Mistakes can happen; however, this is a big no-no. If it happens and it’s not a mistake, you should forfeit your pawnbroker’s license.

16. All prudent business owners insure. Do you?

Do you have liability insurance? Do you carry workman’s compensation insurance? Do you (Continued on page 58)

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Government Relations (From page 7)

Government Relations Team Defined

Professor Sarah Jane Hughes reads, interprets, and advises on the complexity of rulings and the “watch out for” additions to bills that go to committees and Congress that affect pawnbrokers and their businesses. Fran Bishop, NPA Government Relations Liaison, helps get us to the heart of the issues from behind the pawn counter, warns when something is getting ugly, and has endless emails, calls, and meetings with pawnbrokers about state and federal issues, large corporations that work with pawnbrokers, and the banks we need in order to run our businesses.

And remember Operation Chokepoint? Well, it’s still out there, and this team has been slowly chipping away at it to release its choke hold on pawnbrokers.

That is why we tell our story. We are pawnbrokers. We are small business. We are your Team GRC – and that is what we do.

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BUSINESS SOLUTIONS

Boosting On Facebook?

You may be wasting your money

by Emmett Murphy, 3 CLiCk Media

If you’re boosting Facebook posts

and spending ad money, you may be wasting your marketing budget. Boosting seems pretty easy, right? Well, it is intentionally designed that way. Facebook wants the process to be as simple as possible. However, if this is the only way that you’re promoting your content on Facebook, you’re probably not getting the best bang for your buck.

Basic post boosting is like shooting fish in a barrel. It’s easy to do and you’re rewarded with immediate likes. These types of posts are primarily focused on people who are “engagement-heavy users.” They are the social butterflies who are always active on Facebook. They only account, however, for about 16 percent of your potential audience. While these users are most likely to engage, comment on, share, or like your post, you’re just preaching to the choir. Facebook intends for this population of users to see your boosted posts because they’re most likely to click, thereby charging you an ad fee.

The New and Improved Facebook Ads Manager

To hone in on your broader target audience, Facebook provides an Ads Manager tool that has been recently updated and improved. The Ads Manager gives you more advanced options and granular control of your ads to achieve specific objectives. These marketing objectives include actions, such as clicking to a website outside of Facebook, video views, phone calls, collecting emails, and brand awareness, as well as many other options.

Pro Tip #1: To find the Ads Manager on the Facebook desktop website, click on the triangle icon in the upper right hand corner of the webpage, and then click “Manage Ads.” For mobile devices, you can download the Facebook Ads Manager app.

The new Ads Manager helps you to define what your marketing objective is and determines what you want people to do when they see your ads. For example, if you want to get people to your website, you can create an ad tailored to that goal. If you want people to watch your video, you can create an ad that specializes in displaying videos. The Ads Manager provides almost every type of objective that could align with your overall business goals.

Facebook breaks up the possible marketing objectives into three main categories: awareness, consideration, and conversion.

1. A wareness is an objective that generates general interest in your products or services.

This includes brand awareness and reaching

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BUSINESS SOLUTIONS the maximum number of people with your ads, but does not necessarily include getting people to click through to a website to buy a specific product or service. Awareness posts are a way to let people know that you’re on the scene and open for business.

2. Consideration includes objectives that get people to start thinking about your business and look for more information about it.

Consideration encompasses getting people to click through to your website, engagement with a specific post, viewing promotional videos, lead generation, phone calls, events, and offers.

3. Conversion includes objectives that encourage people to buy products or use your service.

A powerful use of conversion posts for pawnbrokers would be to promote store visits to people who are local or physically nearby.

Once you define your marketing objective and click “Create Ad,” the Ads Manager guides you through a step by step process to define your audience, placement, budget, and schedule. If you are experienced with boosting posts, this process will be familiar to you. By using the Ads Manager rather than simply boosting a post, you will be able to harness the complex ways that Facebook engages with its users while focusing in on exactly what you want your ad budget to achieve.

Boosted Ad Restrictions and Prohibitions

When deciding on Facebook marketing objectives and ad content, it’s important to know that Facebook has developed a complex list of advertising policies, some of which may affect pawnbrokers. These policies are primarily centered around restricted or prohibited content.

As an example, “…ads must not promote the sale or use of weapons, ammunition, or explosives.”

Facebook allows blogs or groups connecting people with weapon-related interests as long as the service doesn’t lead to the sale of these products. Facebook restricts ads promoting financial services by specifying that these types of ads “must clearly provide sufficient disclosure regarding associated fees, including APR percentages transaction fees, within the

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Pro Tip #2: Creative ways to encourage user engagement include crowdsourcing answers to questions, collecting testimonials via questions (i.e. How were we able to help in a financial emergency?), asking customers to post videos or photos using your products, or running contests to collect photos.

ad’s landing page.” Also, ads that promote loans must not directly request the input of a person’s financial information, including credit card information. For a complete and current description of Facebook’s advertising policies, visit www.Facebook.com/policies/ads/.

Why Have Basic Boosted Posts?

You might be asking yourself, “Then what are basic boosted posts good for?” As we discussed earlier, basic boosted posts typically only reach your most engaged followers. These are people who are always liking and engaging with your posts, regardless of the content. If your marketing goal is to reach this population of people who may be interested in a specific storewide promotion, product, sale, or event, a general boost will work well. However, don’t waste your money on just trying to build up your fans. Remember that the business with the largest amount of likes doesn’t win. The business that converts its audience into real sales, clicks, and phone calls takes the prize.

The new Facebook Ads Manager options may seem daunting to beginners, but the process is simple. The most important thing is that you have a clear idea of what the objective of your Facebook marketing effort is. Are you trying to sell products? Are you hoping for customers to call your store, or attend a special promotional event? Maybe you’re hoping to generate leads.

Once you define your goals, the Facebook Ads Manager will lead the way.

3CLiCkMedia is a digital design and online marketing firm that combines cutting-edge technology with tried and true media strategies to build movements that get results. For more information, visit their website at 3clickmedia.com.

18 More Stores Sold

Stallcup Group facilitates the sale of 2 separate companies in Arizona and North & South Dakota!

December 2016 – Stallcup Group, Inc., an Exit Strategy Consulting firm, announced its successful facilitation of the sale of Pawn 1st, LLC and First National Pawn.

Both are independently-owned business that comprised 18 pawn shops located in Phoenix and North and South Dakota. Stallcup Group served as the exclusive financial advisor to the sellers in these highly successful transactions.

Stallcup Group’s thorough analyses of the sellers’ financial data, and the unique attributes and characteristics of both companies and individual stores helped ensure their clients achieved all of their selling goals.

Here is what other clients of Stallcup Group have to say about their successes: “Stallcup Group’s dedication to the sale of my company resulted in a 12%-15% higher closing price than the initial offer letters from various buyers. To my surprise there were multiple facets of negotiations above and beyond the final purchase price that the Stallcup Group handled with expertise. These results were tangible and financially beneficial. There is no doubt the results would not have been nearly as profitable without Stallcup Group.”

– Mike Fisher, Regent Jewelry & Loan, 4 stores in TX “Ultimately, I was most impressed with Stallcup Group’s financial modeling, which is extremely sophisticated, and their ability to package information in a way that buyers want to see.”

– Craig McCall, 12 stores AZ/NV

Why Stallcup Group?

We have more than 30 years of experience in the pawn shop industry and have closed almost $205M in transactions since founding the business in 2009. We are the leader in Exit Strategy Consulting, and solely represent pawn shop owners. All Stallcup Group’s clients have realized a purchase price increase of 10-50% from initial offer to final closing price.

Contact us directly, and let us evaluate the true value of your pawn business:

Steve Stallcup

steve@stallcupgroup.com

817.479.3880

STALLCUPGROUP.COM

member news Pawnbrokers Arizona SMART Pawn First, LLC • Phoenix (5) SMART Pawn First, LLC • Goodyear SMART Pawn First, LLC • Glendale SMART Pawn First, LLC • Surprise SMART Pawn First, LLC • Gilbert SMART Pawn First, LLC • Mesa SMART Pawn First, LLC • Tempe SMART Pawn First, LLC • Scottsdale

Minnesota PawnWorks • Burnsville North Carolina Frank’s Pawn Shop, Inc • Salisbury North Dakota SMART Pawn Dakotas, LLC • Fargo SMART Pawn Dakotas, LLC • Grand Forks SMART Pawn Dakotas, LLC • Mandan

Colorado American Jewelry and Pawn • Pueblo (2)

South Carolina Palmetto Pawn • Anderson

Georgia Action Pawn & Collectibles, Inc • Baxley Bubba’s Pawn & Jewelry • Calhoun Illinois J & S Gold & Diamond Exchange • Olympia Fields

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Michigan Coldwater Gun & Pawn Inc • Coldwater

California Antioch Coin and Jewelry Pawn • Antioch Gems & Jewelry Inc • Palmdale

Florida Executive Jewelry and Loan • New Port Richey Franky’s Efectivo Corp • Miami Patriot Gun and Pawn LLC • Seminole

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Kentucky Middlesboro Pawn Shop • Middlesboro

South Dakota SMART Pawn Dakotas, LLC • Rapid City (2) SMART Pawn Dakotas, LLC • Sioux Falls Texas Canutillo Pawn • Canutillo Washington Pistol Annie’s Jewelry & Pawn • Bonney Lake West Virginia Island Pawn Brokers • Wheeling

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International Empenos Y Joyerias Don Jose • David, Chiriqui, Mexico Finardi SC DE RL DE CV • Playa Del Carmen, Mexico Presta Lana • Tala Jalisco, Mexico Empenos Mas Me Dan • Panama City, Panama Industry Partners XcelData Inc • Bakersfield, CA Initiative Consulting Group • Winter Park, FL Meena Diam (HK) Ltd • Kowloon Hong Kong Esha Jewels Inc • New York, NY K.P. Diam Inc • New York, NY Surya Insurance Services LLC • New York, NY Jewelers Mutual Insurance Company • Neenah, WI

BUSINESS SOLUTIONS (From page 51)

I’m a Store, Not a Shop

insure the property of others? Remember your fiduciary responsibility to your customers.

17. Some pawnbrokers still insist on using outdated cigar box accounting procedures. You have more in the box at the end of the day than you started with? Yes? Then you must have had a profitable day. Right? WRONG! Can you track your sales? Do you know what percentage of your profit is from interest income on loans? Get smart. Adopt modern accounting procedures and throw away that box.

18. More than 9 out of 10 pawnbrokers answer the following question incorrectly when I ask it: “What is your most important inventory item?” The answers I get are usually jewelry, electronics, or guns. The correct answer is CASH! The best way to make a profit in this industry is to turn inventory. This relates to number 12 above. If that item is sitting on the shelves out front, it’s not making you any money. So what if the guy redeems it and never comes back. You can now turn that money over and over and over and over. TURN YOUR INVENTORY! TURN YOUR CASH! I often think of the items in back as being connected to little meters. As long as they’re in back, the meter is usually ticking and profits are being created. When they are sitting out front, the meter is stopped cold. You get one tick, and that’s when it sells.

19. Many pawnbrokers really don’t know what business they’re in. If they think they are primarily in the retail business, they’re dead wrong. A pawnbroker is in the lending business first. Retail is only a byproduct of pawnbroking. All other profit centers are, and should be, secondary.

20. Membership. There are too many freeloaders in this industry. They need to be paying their fair share. They need to become members of the state associations and the NPA. The NPA is seeking members who are good, competent, responsible, and honest pawnbrokers.

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I’ve placed myself in a very public position in my community. I’m a politician. Unfortunately, pawnbrokers like those described above, make my life very difficult in terms of public opinion and the opportunity for votes and support. Negative stereotypes, perpetuated by some of our peers in this industry, affect us all. And yes, at times I am embarrassed about being a pawnbroker. When?

For the most part, it is when I enter one of the seedy establishments described herein or when a creep with a pawn license makes the front page or the evening news operating outside the law. This offends me and it should offend you.

I believe the biggest problem is that most of those offenders I’ve described see absolutely nothing wrong with the way they operate their businesses. What a shame. Pawnbrokers must conform to this professional competitive era we live in – or fail. Are you a leader in this evolving industry? YOU CAN BE! Business consultant Steve Fowler is a former multistore pawn store owner and previous member of NPA’s Board of Directors.

His pawn industry experience includes senior management responsibilities with Pawnbroker.com and Mister Money Holdings. For more information, visit SteveFowler.com.

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NPA offers an online anti-money laundering program that allows you to get all your compliance training requirements without ever leaving your office. The self-paced course, “AML for Pawnbrokers and Dealers in Precious Metals”, will teach you how to properly file an 8300, OFAC requirements, when to file a Suspicious Activity Report, and more.

Avoid fines and stay in compliance. Visit NationalPawnbrokers.org/Compliance for more information on this important training course.

Simplex Buying diamonds or fine jewelry from your customer?

Sell to Simplex

Diam INC.

www.checkconsultants.com

Stephen Foster President Fresno Coin Gallery California Pawnbrokers Association Board of Directors

Jitesh (212) 833-0888 ext. 1007 diainfo@simplexdiam.com

“We have had great experience selling our diamonds to Simplex Diam. They consistently offer fair prices and buy most of our goods.

We find them easy and enjoyable to deal with no matter what the market condition.”

IJO Pawn Expo - Las Vegas July 11-13, 2017

CAPA Convention - San Diego, Ca October 27-29, 2017

Our highest price, quickly, no games, no stress.

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Community involvement

2017 FBL Scholarship Winners Seven students receive $1000 scholarships

l to r: Larry Hipps, Austin Hipps, Rosemary Hipps

l to r: Nicholas Fulton, Jr, Miranda Fulton (scholarship recipient), Michelle Fulton, Nick Fulton. Nick Fulton was the founder of the FBL scholarship program.

NPA’s Future Business Leaders (FBL) scholarship program proudly announces the winners of this year’s $1000 scholarships: Miranda Fulton Madison, MS Sponsored by USA Pawn & Jewelry, Ridgeland, MS

Zachary McClain Maumelle, AR Sponsored by USA Loans, Little Rock, AR

Savannah Garris Alpine, AL Sponsored by Sylacauga Pawn Shop, Sylacauga, AL

Julia Mae Newberry Mansfield, OH Sponsored by Johnson Brothers’ Jewelry & Loan, Mansfield, OH

Austin Dale Hipps Harvest, AL Sponsored by Larry’s Jewelry & Pawn, Florence, AL Joseph Marvin Asheville, NC Sponsored by Alan’s Jewelry & Pawn, Inc, Asheville, NC

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Destiny Owens Waxahachie, TX Sponsored by Lombard Financial Services, Inc, Fort Worth, TX

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l to r: Alan Sheppard, Tonia Sheppard, Joseph Marvin, Terri Lynn Queen

l to r: Manuel Castrillo, Zachary McClain, Jeff Howey

In addition to the seven individual scholarships awarded, a $1000 scholarship was given to Concerns of Police Survivors, Inc. (C.O.P.S.), an organization that provides resources to assist in the rebuilding of the lives of surviving families and affected co-workers of law enforcement officers killed in the line of duty.

Since 2003, the FBL scholarship fund has presented more than $140,000 in scholarships to deserving students. All scholarships are completely funded through NPA member donations and are given annually to the children, grandchildren, customers, employees, or individuals sponsored by an NPA member in good standing.

To learn more about the FBL scholarship program, visit NationalPawnbrokers.org and click on the Community Relations tab.

Book Corner

Customers For Life

by Carl Sewell and Paul B. Brown

How to turn that one-time buyer into a lifetime customer Using his customer-centric approach, Carl Sewell, a third-

generation automotive dealer, has turned his family’s Cadillac dealership into one of the most successful in the country with sales in excess of $1.6 billion. In his book, Customers For Life, he shares how going the extra mile has helped him reach rock star success in the auto industry.

Sewell’s basic premise is simple: figure out what the customer wants and make sure they get it.

To keep his car buyers returning time after time, he follows his “ten commandments of customer service” which include, among others: • Empower your employees with

the freedom to be customer service superstars.

• Always under-promise and over deliver.

• Always ask your customers what else you can do for them.

According to Sewell, if customers are happy and feel special, they won’t mind paying a little bit more, and they will remain loyal.

Since it’s a lot less expensive to keep a customer than it is to find a new one, your profit margins will increase. When you read Customers For Life, you’ll learn how to turn those one-time buyers into lifetime customers. Then watch your business soar.

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Visit Us at : Paww Expo 2017

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July 11th - 13th 2017 Oct 8th - 11th 2017 2017

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2017

Community involvement

FBL Scholarship Recipient Achieves Goal

EVALUATING TIME

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Research, Identify, and Value Wrist and Pocket Watches

Arielle Baker, Doctor of Physical Therapy Arielle Baker received a scholarship from the Future Business Leaders scholarship program in 2012 when she was sponsored by West Side Pawn in Knoxville, TN. Her childhood dream was to be a professional Arielle Baker receives her Doctor of Physical dancer. But after years Therapy from West of dancing, she had Virginia University. to have knee surgery followed by months of therapy. She then refocused that dream and set out on a new path to become a physical therapist.

With an undergraduate degree in chemistry, Arielle attended physical therapy school at West Virginia University. After three years of hard work and determination, she earned the degree of Doctor of Physical Therapy.

“It has been a great honor to realize the potential impact I can make in people’s lives while pursuing a career in which I am very passionate. I would not have been able to develop this passion and make this impact without the assistance of the NPA. They have allowed me to fearlessly strive for greatness in my academic career,” shares Arielle.

Thanks to the NPA scholarship, Arielle was able to set her goals even higher than she ever anticipated. Prior to graduation from physical therapy school, she applied and was selected for a Neurologic Physical Therapy Residency at Virginia Commonwealth University. This residency will allow her to continue developing her skills as a physical therapist in treating patients with neurologic disorders, such as spinal cord injury, brain injury, and stroke. She says, “Throughout my long journey to become the physical therapist that I am today, I thank the NPA for supporting my education and allowing me to shoot for the stars.”

Watch specialist Adam Harris presents proven methods of identifying watch types and evaluating their authenticity and condition in this course.

September 16-18, 2017, at the NAWCC education facilities, Columbia, PA

Registration Fee: $1,000 early bird (one month prior to course date) $900 for NAWCC members (early bird period only) $1,250 regular price For additional information or to register: Contact the Education Department 717.684.8261, ext. 237, or email: education@nawcc.org www.nawcc.org • 514 Poplar St., Columbia, PA 17512-2130 *Watches for the Novice Workshop Friday, October 27

A hands-on course by watch specialist Adam Harris Oct. 28-30, 2017, at the NAWCC education facilities, Columbia, PA How to identify genuine watches Brands discussed will include: Omega • Hublot • Rolex • Rolex-Tudor Breitling • Cartier • Tag Heuer • Panerai Bell & Ross • Audemars Piguet

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State News

State Association Updates State pawn news FROM across the nation that under the New York State Constitution, data mining, under the guise of administrative inspections, is a violation of the rights of pawnbrokers and our customers. We will continue to fight off this legislation, but while we do, we are required to participate with LeadsOnline. We believe that we will ultimately be successful.

New York

Eric Modell, President Collateral Loanbrokers Association of New York eric@modellfinancial.com

Earlier this year, the Collateral Loanbrokers Association of New York (CLANY) suffered a set-back when the Appellate Court overturned the lower court’s decision to grant a temporary injunction protecting pawnbroker data from being made widely available to law enforcement. For this reason, New York operators are now required to upload data to LeadsOnline.

CLANY’s earlier victory, protecting the customer data (names, addresses, etc.) remains in effect, and as a result, we only upload information specific to the collateral. Unfortunately, with so many precincts in New York, it became quickly apparent that different precincts were taking different positions on exactly how to interpret the law and different precincts are making different demands in different neighborhoods. Some precincts are visiting shops every 10 days while others are continuing old practices of collecting hard copies because the LeadsOnline data is incomplete.

Operators in New York are encouraged to reach out to the association and let us know about their experiences.

This is only a temporary set-back that pertained to the temporary injunction. The triable issues have not yet been heard, and CLANY remains confident

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OHIO

Raphael Tincher, President Ohio Pawnbrokers Association raph@tedspawn.com

In Ohio, we have been closely monitoring several bills, not yet introduced, that would be unfriendly to our industry. We are striving to stop these before they are introduced, but are also lining up assistance should they be introduced in committee.

The Liberty Coin case (Federal 6th Circuit) which we discussed in depth at our last membership meeting was appealed by the state of Ohio, and oral arguments were heard in early July. We look forward to the decision which we hope will remain favorable to our industry.

Please mark your calendars for Sunday, September 17, 2017, when we will be holding our fall membership meeting and Continuing Education Seminar. A CPP course will be offered on Saturday, September 16, at the same location. Details will be coming soon.

State News

a pawnbroker. Literally, you could not pay your customer on the item until after the hold period expired. You take possession, but they do not get paid. You would have to contact them later and tell them to come and get their money.

This bill gained some traction and, if it had passed the committee process, could have been really detrimental to our industry by literally not allowing pawnbrokers to purchase items from anyone.

HB 4077 (Dukes) TEXAS

Vince Santoscoy Texas Association of Pawnbrokers vince@loanstarpawn.com

If you haven’t already heard the news, Texas Association of Pawnbrokers (TAP) is moving its convention dates to February 9 – 11, 2018, at the Wyndham Riverwalk in San Antonio, TX. This decision by the Board of Directors was made after much input from our members and vendors. We believe these dates and venue will give all attendees a better convention experience without conflicting with other state association calendars. We hope you will join us in San Antonio!

Another Texas legislative session has come and gone. We had a few bills that would have negatively affected on our industry. Of those, only two got hearings. They are: House Bill, HB 1157 (Davis)

• Designated a 20-day hold period with some exceptions •R equired a pawnbroker to withhold payment from the seller until the day the hold period ended • Any funds not collected by the seller (because the seller never returned) would be placed in escrow for six months. Unclaimed funds were subject to Title 6, Property Code, which would have been a bookkeeping nightmare.

In simpler terms, this bill dealt with the purchased property “hold period” and the withholding of payment on purchases made by

• Required pawnbrokers to report goods acquired electronically to an unspecified database • Failing to report an item could subject a pawnbroker to an administrative penalty, not to exceed $500 for each item not reported to law enforcement with electronic data transfer (EDT) Although many Texas pawnbrokers already transfer information electronically to LeadsOnline, this would have required all pawnbrokers to do so.

The bill also required pawnbrokers to collect all of the customer’s data (full name, address, birthdate, and, possibly, social security number) which would need to be included with the transfer. In today’s world, customer privacy and data protection is a potential liability.

Dave Springett, our legislative chairman, testified against both bills. With his testimony, along with our lobbyist, Angelo Zottarelli, and members of the House and Senate, we were able to stop these bills.

Unfortunately, customer privacy will be an ongoing issue we are going to be facing in sessions from now on. Thank you to Dave and others for all you do!

Recently, members of TAP received a mailing that requested donations to our Political Action Committee (PAC) fund. If you received this, please mail your donation back to us, so we will have the ability to continue to fight bad legislation. Texas is a great state to do pawn business and we need to protect it!

If you would like to submit an update on your state association’s activities, please email Margie@NationalPawnbrokers.org.

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pawnder this

Hey Batter, Batter, Batter!

By Rudy J. Klancnik

I just spent five days and nights in a

tiny barracks in the middle of the summer with eleven 12-year-old boys—with no air conditioning, no television, and terrible food that included a very questionable baked ziti dish on back-to-back nights. It included some suspicious sounds in the middle of the night and even more suspicious smells throughout the day. It took me more than a week to mentally and physically recover from that experience.

And it was the best week ever. Seriously.

I’ve played Pebble Beach, stood on the field for Michigan vs. Notre Dame, attended four Super Bowls, a World Series, an NBA Finals game that starred Shaq and Kobe, and even walked the fairways with Tiger during the 100th U.S. Open. But the week I spent in Cooperstown, NY, watching 11 little knuckleheads, during what can only be described as a real life Field of Dreams, was beyond awesome.

Anyone who’s heard the word “baseball” has heard of Cooperstown. You might not know exactly where it’s located in the state of New York or that it’s even in New York, but you know Cooperstown is linked to baseball like Vin Scully, hot dogs, and that super annoying, over-cursing fan sitting in

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front of you at Yankee Stadium.

Cooperstown is home to the baseball Hall of Fame. Downtown Cooperstown is a baseball lover’s paradise. Pretend your significant other forces you at gunpoint to walk around a quaint downtown filled with antiques and jewelry you have zero interest in purchasing. Then flip it 180 degrees and turn all of those shops into baseball-related stores filled with baseball cards, vintage bats, and more jerseys and caps than you’ve ever seen in one place.

That’s Cooperstown – and it’s freaking awesome.

To add to Cooperstown’s awesomeness is the tournament I alluded to earlier. Tucked in a beautiful valley, that feels as if Walt Disney designed it, is a youth baseball complex called Cooperstown, where hundreds of teams from around the country descend every summer. We played teams from California, Georgia, North Carolina, Delaware, and Texas, our home state.

In all, 104 teams competed during our week for what I imagine is a pretty cool trophy. Not that we really believed we had a chance of holding the darn thing since many of these teams feature nuclear-powered 12-year-olds with full beards and mortgage payments. We ended up playing nine games, which is nine times for my heart to stop

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pawnder this beating and my blood pressure to spike.

But baseball, at this tournament anyway, ranks about 22nd in importance. The boys played whiffle ball, traded collectible pins, made up games inside the barracks, and produced very creative odors all the while losing at least one item of clothing per day.

While other parents enjoyed cookouts with steak and lobster at their lakeside rental homes, I enjoyed ham and cheese sandwiches on Wonder Bread with a thimble of orange Gatorade (no hyperbole . . . it was a real thimble). While other parents went paddle boarding, swam, or just laid out for a nice tan, I was chasing my catcher in the middle of the night when he went on a sleep walkabout in the compound. On night two, I was shaken awake at 3:08 a.m. by my centerfielder who needed to go number one.

By night three, I was so tired that even my son’s constant wiggling in the bunk bed above didn’t impact me. I slept a good two hours that night, and that was the record for the week.

So, yeah, it was like a week of boot camp for a

50-year-old dude that does just enough cardio to stay in very average shape. It was also a blast that I’ll remember forever. Thanks, Cooperstown.

Rudy J. Klancnik writes for fun, sells stuff for a living, and cheers for any team playing Ohio State or the Yankees.

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calendar of events

OCTOBER 2017

NPA Board Meeting October 21-22, 2017 Hilton DFW Lakes Grapevine, TX Contact Dana Meinecke: Dana@ NationalPawnbrokers.org

California Pawnbrokers Association Convention October 27-29, 2017 Paradise Point Resort San Diego, CA Contact Kim Andosca: KAndosca@amgroup.us

FEBRUARY 2018 Texas Association of Pawnbrokers February 9-11, 2018 Wyndham Riverwalk San Antonio, TX Contact Peggy Roden: TAP@rmaus.net

MARCH 2018

Dixie Conference & Trade Show April 13-15, 2018 Marriott Little Rock Little Rock, AR Contact Rosemary Hipps: Larrysjp@ comcast.net

Index of Advertisers ADVERTISER Page

ADVERTISER Page

ADVERTISER Page

3 CLiCk Media 52 (212) 365-0691 3clickmedia.com Aagam Creation LLC 33 (248) 961-0506 ABC Diamond Buyer 12 (586) 354-7274 abcdiamondbuyer.com Atish Diamond 15 (212) 938-1005 Bluestone Trading Company Inc Back Cover (888) 800-BLUE (2583) bluestone-trading.com Bravo Pawn Systems 3 (888) 407-6287 bravopawnsystems.com Certified Pawn Professional (CPP) 44 (817) 337-8830 nationalpawnbrokers.org Diamonds and Jewelry Services 48 (973) 303-8389 Di-Moksh Diam, Inc 47 (213) 479-3023 dimokshdiam.com Dillon Gage 21 (888) 436-3489 dillongage.com Firerox 30 (213) 624-1111 firerox.com Garrett Metal Detectors 8 (800) 527-4011 garrett.com

Geib Refining 31 (800) 228-4653 geibrefining.com Gemological Institute of America 24 (800) 421-7250 gia.edu Hoover & Strong 13 (800) 759-9997, ext 164 hooverandstrong.com International Gemological Institute Inside Front Cover igionline.com National Association of Watch and Clock Collectors 63 (717) 684-8261 nawcc.org Padmavati Exports Inc. 62 (212) 869-0544 padmavatiexportsinc.com Palak Diam 18 (213) 228-0077 palakdiam.com Pawnbroker Financing 47 (303) 373-1300 pawnbrokerfinancing.com Paysouth Merchant Svcs 57 (617) 578-9444 paysouth.com/partners/npa Rapaport Auctions 25 (212) 354-9100 rapaportauctions.com RMF Consulting Group 59 (866) 204-7209 checkconsultants.com

Saumil Diam 52 (212) 575-3655 saumildiam.com Shri Diamond Inc 17 (212) 840-0650 Simplex Diam Inc 59 (212) 883-0888, ext 1007 simplexdiam.com Sparkle & Dazzle LLC 11 (212) 789-9088 sparklendazzle.com Stallcup Group 55 (817) 479-3880 stallcupgroup.com Stuller, Inc 5 (800) 877-7777 stuller.com Surya Capital LLC 56 (800) 242-7766 diamondmelle.com The Buyers 61 (562) 945-7276 thebuyers.com The Trendz 44 (866) 337-7464 thetrendz.biz United Precious Metal Refining, Inc. 26 (800) 999-FINE (3463) unitedpmr.com Wexler Insurance Agency Inside Back Cover (800) 432-1853 wexlerinsurance.com Worldwide Diamond 67 (213) 622-2191 wwwdiamond.com

The NPA does not specifically endorse any entity including but not limited to exhibitors and advertisers; makes no representations, warranties, or guarantees; and assumes no responsibility for the products or services provided by these entities. The NPA expressly disclaims all liability for damages of any kind arising from the use or the performance of the products or services provided by these entities.

68

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National Pawnbrokers Association

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FALL 2017

WEXLER INSURANCE AGENCY, INC.

INSURING

PAWNBROKERS

SINCE 1968

The Best Coverage at Competitive Prices Available Coverages: v Pawned & Owned Jewelry & Guns

No Coinsurance for: v Pawned & Owned Guns & Jewelry or Other Stock

v Pawned & Owned Other Stock

v Business Personal Property

v Memo

We pay based on your choice of the following:

v Products Liability for Guns & Ammunition

v Actual cost of the loan plus legally accrued interest

v And many more see back page

v 2 or 3 times pawn value

Wexler Insurance Agency, Inc. 1120 Ponce de Leon Blvd.

Coral Gables, FL 33134 Tel: 305-445-5050 Fax: 305-448-8189 Nationwide: 1-888-4-WEXLER 1-800-432-1853 E-mail: info@wexlerinsurance.com

v Replacement Cost

New York Office 580 Fifth Avenue Suite 715A New York, NY 10036 Tel: 212-391-5211 Fax: 212-391-5212 California Office 2711 East Coast Hwy. Suite 106 Corona del Mar, CA 92625 Tel: 949-723-3835 Fax: 949-723-3839

Ohio Office 7363 E. Kemper Rd. Suite C & D Cincinnati, OH 45249 Tel: 513-891-2131 Fax: 513-891-2132

Ask about our exclusive Workers Comp program for Pawnshops which is available in all 50 states.

CALL 1-800-432-1853 FOR AN IMMEDIATE QUOTE OR VISIT US AT WWW.WEXLERINSURANCE.COM

DIAMONDS & JEWELRY

$50 COUPON SPECIAL

WE’LL GIVE YOU $50 WHETHER WE BUY OR NOT! Mention this promotion with shipment to receive your $50 bonus.

Limit one (1) coupon per month

A DEAL YOU CAN’T LOSE ON! ALWAYS FREE OVERNIGHT SHIPPING

SAME DAY WIRE/OVERNIGHT CHECK

CALL US AT 888.800.BLUE (2583) BUY - SELL - MEMO

www.Bluestone-Trading.com