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Anti-scam for Internet sales

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Another insight from this year’s National Pawnbrokers Association convention. This one came during the roundtable on Police Confiscations, but the speaker did not identify himself, so I don’t know whose good advice this is.

When selling electronics, like a laptop, over the Internet, he said he puts an identifier somewhere hidden on the item. He uses Whiteout or a scratch tool.

He also photographs — not just writes down — the serial number.

That way, if a “buyer” has a broken laptop, then buys a good one from you, then “returns” the broken one for credit, you are in a strong position to defend yourself when Paypal or eBay starts a dispute.

burglar

This won’t protect you from someone sophisticated enough to swap the good memory module in your machine for the bad one in  his, then return a “broken” machine to you, but it will screen out the less akamai scamsters, and that’s most of them.

Good to know.

#mauipawn #mauiretail

 

Anti-scam for Internet sales

/in

Another insight from this year’s National Pawnbrokers Association convention. This one came during the roundtable on Police Confiscations, but the speaker did not identify himself, so I don’t know whose good advice this is.

When selling electronics, like a laptop, over the Internet, he said he puts an identifier somewhere hidden on the item. He uses Whiteout or a scratch tool.

He also photographs — not just writes down — the serial number.

That way, if a “buyer” has a broken laptop, then buys a good one from you, then “returns” the broken one for credit, you are in a strong position to defend yourself when Paypal or eBay starts a dispute.

burglar

This won’t protect you from someone sophisticated enough to swap the good memory module in your machine for the bad one in  his, then return a “broken” machine to you, but it will screen out the less akamai scamsters, and that’s most of them.

Good to know.

#mauipawn #mauiretail

 

 

 

Pawn your sneaks? Sure, why not?

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You can do it in Harlem now.

Smell this

Smell this

A 16-year-old kid with 200 pairs of sneakers had the idea. It works about like any other pawn, which is to say, if there is a market for used goods, a pawnbroker somewhere will make a loan on them.

As we say at our Maui pawn shop, we’ll take in anything that doesn’t eat. And no doubt somewhere in the world there’s a pawnbroker who does take livestock, we just haven’t heard from him yet.

At Sneaker Pawn, there is a bit of a different wrinkle. If the shoe owner wants to sell, instead of making a straight purchase, it operates more like a consignment: Sneaker Pawn makes the sale and splits 80/20 with the seller — 80% to the seller.

Biggest drawback from the pawnbroker’s point of view: He has to sniff each shoe.

 

 

Ain’t nothin’ like the real thing

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As Smokey Robinson so wisely taught us long ago.

It appears that the magic of “Pawn Stars” is limited to the actual Gold & Silver Pawn Shop cast, at least if you value the opinion of critic Steve Bornfeld.

There’s a Vegas show called “Pawn Shop Live!” that’s supposed to be a spoof of the top-rated cable “reality show.” Vegas Steve didn’t like it when it opened early this year, and now that it has been revamped, he likes it even less:

Flashing back to the original Pawn Shop Live! at the Golden Nugget in February, I labeled it “an amateurish misfire of major proportions.” Updating to the rewritten Pawn Shop Live! at the Riviera, I amend that to “an amateurish misfire of TITANIC proportions.”

We suggest authenticity counts with tongue in cheek. Much as we like “Pawn Stars” and appreciate how much it has done to enhance the reputation of pawn shops everywhere, life with Rick and the family is not really what pawnbroking is like.

Pawnshops, including our Maui pawn shop, do get fascinating, rare and curious items from time to time, but emphasize time to time. Not all the time, like on “Pawn Stars.”

Here’s a secret: TV reality shows are scripted. And not only that, but a show like “Pawn Stars” has agents who comb the country for telegenic items to “pawn.” The owners, who get a chance to explain their treasures on a big stage, cooperate but those are not real transactions.

The valuation offered by Rick may be authentic,  but it’s all for show not dough.

If you think about it for a moment, you can understand. It costs thousands — in the case of “Pawn Stars” tens of thousands — of dollars to create each minute of program. The producers cannot wait around until the next interesting customer walks in.

Even “Antiques Roadshow,” which does draw thousands of hopefuls to each city it visits, sends out advance agents to recruit good antiques and even arranges to transport the big items (like Federal-period highboys) to the auditorium where the show is taped.

If you want to see a real pawn shop in action, come down to 52 North Market Street any day of the week. But you might have to wait several days for any excitement.

Fixing the price

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As Kamaaina Loan blog has often said, we (and all other pawnbrokers) are at the mercy of the international gold market. We have no way to influence the price.

If we offer you $500 on Monday because gold is selling at, say, $1300, and it goes down the next day to $1200, that’s our risk. Nothing we can do about it. (And if the price goes up, lucky us.)

It would be nice to think that gold is a true market. We don’t want to play if somebody is scamming the game.

It turns out, somebody is. Or was. In this Bloomberg News report, we learn how a Barclays trader managed to depress the world price by a few cents in order to cheat a client out of $3.9 million.

The manipulation was small and lasted only minutes. Not enough to affect our pawnshop, but worrying nonetheless.

We would like to think that the world market is big enough and free enough to avoid serious manipulation. But we know people will try.

(Barclays was in a position to work this scam because it is one of 4 banks that participate in the daily “London fixing.” The other members are from Canada, Scotland and France, reflecting the international balance of influence in 1919 when this system was set up.)

 

 

 

 

 

 

 

Why they pawn — playing the long iron game

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As we often say here at Kamaaina Loan blog, unlike at the bank, you don’t have to tell us why you want to borrow money. It’s don’t ask, don’t tell at the pawnbroker.

You could call it a sad iron

You could call it a sad iron

But sometimes we wonder, all the same.

From Bangkok, an unusual example of how a customer uses a pawnshop:

It seems he pawned an iron — Lovestar brand — 15 years ago and has been paying interest on it regularly ever since. Since he’s not rolling over the interest, it isn’t a case of owing much more than the iron is worth.

According to the Bangkok Post, pawn shop employee Nattarak Peekklang thinks, “The customer may think that his iron is better kept inside the shop’s safe than at his home.”

Maybe. But he isn’t taking the iron out to use it from time to time then returning it to “storage.” He isn’t even using his iron the way David Copperfield’s old nurse, Peggotty, did in Dickens’ novel, pawning hers for sixpence each Friday and redeeming it each Monday because she never can keep to a budget.

But Mr. Nattrarak follows the international Code of the Pawnbroker:

 

I never ask him why he doesn’t pay it all off at once

 


#maui #mauipawn #mauiloan

Boulevard of Broken Promises

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Among the smaller items in the Maui County budget — which will far exceed half a BILLION dollars, we are not a small, rural place any more — but one close to Kamaaina Loan’s interests is the Iao Minipark (or whatever its final name turns out to be).

The historic Wailuku business district, which we are proud to be one of the oldest existing veterans of, was designed for horse-drawn buggies and walkers. North Market Street was not paved for many years. Then after World War II, everybody got wheels.

Congestion.

The county took a bold step, buying up several blocks and closing a couple of streets (alleys, really) to create the large Wailuku municipal parking lot. Since then, it’s been all downhill as far as parking has been concerned.

In other older places struggling to adapt to modern  habits, the county has added significant public parking: a million-dollar lot in Makawao and a similar one in Paia. Presumably these are partially responsible for the full storefronts and higher commercial rents in those towns. (Having top drawer tourist draws helped, too, of course.)

Wailuku languishes. Commercial rents in Paia are about four times higher than in the North Market Street area.

Much follows from low rents. Non-profits, which are attracted by low rents, swarm in Wailuku but are absent from Paia and Makawao. In those “country towns,” merchants compete vigorously for shop space and there are few vacant buildings. There has been new construction in Paia and lots of investment in keeping up the old buildings in Makawao.

Not in Wailuku. Space goes begging and comparatively less sprucing up occurs. Green Lotus has recently upgraded and reopened a vacant gas station on Main Street that had been vacant for over a decade (despite having its own parking). Only one new-from-the-foundations building has gone up in our district in the past decade.

What construction has occurred has chipped away at our parking.

Now the county proposes to chip some more.

No question the vacant, unpaved lot between the Iao Theatre and our building (in which Maui Sporting Goods is a tenant) needs to be addressed. Right now, it provides  nearly two dozen precious, in-the-middle-of-things parking spaces.

When rebuilt, paved and made to conform to 21st century codes, at least 10 stalls will disappear, maybe more.

The area lost at least 23 when North Market was gentrified. In our view, we have gotten down to a point where 10 or 12 fewer spaces is a really big deal.

Don’t get us wrong. We support the minipark, for safety reasons. People we know have stumbled and fallen and been injured there.

But the history of the county’s work in the historic business district has been to promise more parking and then not deliver. Before the devastating rebuilding of North Market, the business owners and managers were promised that before North Market was to be taken in hand, something would be done.

That something was prominently to be a parking garage on the municipal lot. Never happened. Nor did anything else.

People really do need parking. A big fraction of the activity in the area is governmental. The county’s own staff grows year by year, till it has overflowed the nine-story county building into the One Main Plaza building.

Those people don’t (for the most part) walk or bicycle to work. They drive. Then they park.

The Chinese used to practice a form of slow execution called the “death of a thousand cuts.” That’s what’s happening to business in Wailuku.

#mauitraffic #mauibudget #mauibusiness

Boston pawnbrokers save the day

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Imaging-resource.com, a website for serious photographers, alerts us to this heartwarming story that will resonate with many, many visitors to Maui who have lost cameras — to trunk poppers or otherwise.

 

A Nikon D3100

A Nikon D3100

Someone found a camera left on the Red Line and brought it to Michael Goldstein at Empire Loan. The con artist didn’t know what he had or even how to turn it on. When Empire’s alert pawnbrokers began asking questions, he fled, leaving the camera.

Goldstein then used photos in the camera memory to sleuth out the owners, who had posted a lost-and-found appeal on Craigslist. He is shipping the camera to them at their home in Spain.

Image-resources has some good advice for vacationers and their cameras, including this one:

Get a card reader for your tablet or smartphone and use it to back up your photos while you’re on vacation—that way, if the camera gets swiped, at least you’ll still have your shots.

Honeymooner alert: We cannot recall all the pathetic appeals over the years from honeymooners on Maui who lost (usually, had stolen out of their rental car) their wedding photos. Listen to Liam McCabe at image-resources. It couldn’t hurt.

#Maui #maui photo #maui vacation #lost camera

Big cat fight on Maui

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There’s a hot cat fight going on here on Maui. But ours is just the local edition of a cat fight that is making fur fly all across the country.

Thrill killers?

Thrill killers?

You may have been following the controversy about the Maui Humane Society, its departing executive director and the strident campaign of cat (but not bird) lovers to introduce a “no-kill” policy at the society, which gets most of its money through a county animal control contract. There’s more here (though behind The Maui News paywall).

And still more here about the situation in New York City, just to show we are not alone..

In theory, cats can be controlled by having cat lovers capture and spay or neuter feral cats, then return them to their happy hunting grounds, feeding and watering them, until they die of old age. Problem solved.

This is not how it works in real life. There was a cat colony at Iao Valley State Park, and a few years ago if you went up there after dark and shined your headlights into the forest, you would see hundreds of cats’ eyes looking back at you. During the day, scores of cats patroled the parking lot.

You cannot go into the park after dark any more, so the spooky cat crowd is not on display; and the last time I was at the parking lot it was not overrun with cats. I don’t know if that means the cat colony has diminished, but I doubt it has.

Colonies of Jackson’s chameleons, nene and pueo do die out. Cat colonies and cattle egrets, hardly ever. Usually, it seems that people who are dropping off their unwanted cats (instead of drowning them, which was customary in bygone times) look for existing cat colonies, presumably so their cat will have company and three squares a day.

On Maui, there is the issue of ground-nesting birds, especially seabirds. Some of these are endangered. All of them are slaughtered by cats. Few seabirds even try to nest on the island, and when they do they are usually mauled.

Even well-fed cats will hunt and kill for pleasure.

The upside of this is that without our thousands of blood-crazed cats, there would be even more feral chickens everywhere.

 

#maui cats #feral cats #no-kill #maui

 

 

Seedy maybe, but not dark

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Reporters who show no interest in the millions of ordinary working people who patronize the nation’s 13,000 pawnshops are endlessly fascinated by the small number of threadbare millionaires who — when down to their last Patek Philippe — do the same.

Few show much evidence of ever having visited a pawn shop themselves.

Kamaaina Loan -- neither dark nor seedy

Kamaaina Loan — neither dark nor seedy

Take, for example, a story that got nationwide exposure yesterday on National Public Radio.

Ashley Milne-Tyte — sounds rather posh, doesn’t she? — of the Planet Money team did a segment about a “new” (not really) sort of pawn shop that caters to the well-off. These shops are not, she said, “dark and seedy” like other pawnshops that deal with the “desperate.”

While traveling around the country, I stop in pawnshops of all sorts. Some are really gun shops that do a little loan business, others are really jewelry shops that take in a small amount of household goods. Others are primarily second-hand goods stores that will buy a gold ring or two.

Most are like Kamaaina Loan, full service lender/traders whose customers are primarily working people. They may need to even out their cash flow (especially if they work on a tourist island where many jobs are intermittent or subject to wide swings in income) but are hardly desperate.

Some pawn shops I have visited are definitely seedy. These tend to be on the outskirts of town, in areas of low-paid work, cheek by jowl with mobile home sales lots, dealers in not-too-new used cars, second-hand furniture stores and apartments and houses that have not been repainted since the Reagan administration. The people they deal with seldom acquire high-quality merchandise in the first place, and what they have to offer for a pawn loan will not impress the likes of Ashley Milne-Tyte.

But dark? Never dark.

#maui #maui gold