Frequently Asked Questions
Have a Question? Read our FAQs or Call Us!
We pride ourselves on honesty, integrity and respect for our customers.
What Is a Pawn?
A pawn is an item that is used as collateral when you're borrowing money. In order to receive that specific item back you have to pay back the amount you borrowed along with interest accrued. You can renew this arrangement as many times as you need and we will work with you during the process.
How Do You Determine The Value Of An Item?
We determine the value of the item(s) based on the condition it is in and what other vendors typically sell a similar product for.
When dealing with precious metal (gold/silver) or diamonds we determine the value by current market dealer prices.
What Happens If I Don't Pay On A Pawn?
At Mills Jewelers & Loan, we send a text and phone call notice when your pawn is due. If we do not hear back from you within a few days of your late notice, your pawn will forfeit and we take possession of the item.
Do You Need Good Credit To Pawn or Sell With You?
No credit check is required.
What Are The Interest Charges?
The interest charges are a set rate for the amount you recieve. Once you are at $2500 the interest rates become negotiable. We do charge pawn ticket fees, and storage fees.
Are Pawn Shops Regulated?
Yes. States have regulated the pawn industry for decades. In addition, local authorities oversee licensing and regulation of most pawnbrokers. We are subject to laws such as the Truth In Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Patriot Act, and Federal Trade Commission Rules on Data Privacy and Security Transfer. At the federal level, regulatory authorities include the Federal Trade Commission (FTC), Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Treasury Department.
How Do You Determine The Loan Amount?
Our professional staff determines the value of your item by —its current appraised value, its current condition and our ability to sell the item on the off chance it becomes forfeited. We use all the research tools we have at our disposal to determine an item’s value and get you the most money we can. The amount offered is based on the wholesale, resale/second hand value of the item, not the new price.
Do Most Customers Lose Their Merchandise?
On average, a high percent of pawns are repaid. Repeat customers make up much of our business. Some customers borrow against the same items regularly. If the borrower chooses not to repay the amount and interest charges, we take possession of it in place of the amount borrowed. We prefer that customers return for their property.
What Items Can I Pawn?
We only pawn on items that are fine jewelry, precious metals, and luxury handbags by Louis Vuitton, Gucci, and Chanel. Click below to see examples of what we accept.
GOLD & SILVER
Bring in your gold/silver, coins/bullion and hollowware/flatware. We test it, weigh it and offer to buy it without damaging your item. The process is quick, friendly and easy.
LUXURY HANDBAGS
Ventura County's largest selection of pre-loved luxury handbags by Louis Vuitton, Chanel, and Gucci. Available in store and online through our website, our pre-owned handbags are all authenticated by a third-party specialist.
DIAMONDS
When looking to sell diamonds, it is important to remember there are many variables that determine its value. We review each diamond by cleaning, testing and analyzing it, after this we will discuss our offer with you.
JEWELRY AND WATCHES
We buy your gold/silver fine jewelry including diamonds/gemstones, rings, earrings, bracelets, necklaces and Rolex quality watches. We even buy your broken jewelry!
COLLATERAL PAWN
We offer both short term and longer term pawns. We are here to help you get the cash you need. Ask Mills Jewelers & Loan for additional details.
2320 Ventura Blvd
camarillo, CA 93010