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     Banking & Finance - Pawnshops

     Pawnshops In Singapore

   Items which may be pawned include watches, gold chains, bracelets, rings, earrings, diamonds and other semi-precious stones, etc.

   Items may be pawned for a period up to six months. Items may be redeemed and pawned again provided the interest for the previous six months is paid.

   Interest is usually 1 - 2% per month.

   Bring along your identity card or passport and a guarantor (for first timers at the shop). Guarantor's identity card or passport also needs to be produced.

   Instant approval.

   Pawnshops usually issue loans worth 50 - 60 % of an item's value and expect monthly interest repayments. If the owner defaults for six months, the item is sent for auction on the seventh month. Surplus funds from the auction - the difference between the auction and reserve prices - are returned to the person who pawned the item.

   Items not redeemed within the six-month period are auctioned off. The pawnshops' association holds monthly auctions to auction off such items. The monthly auction is usually held from 10 - 14 of each month at Hotel Royal 15th floor Room 1522/1519, 36 Newton Road Singapore 307964. If you are interested in bidding for any item, just pop in for a visit to view the items from 10am - 2pm on the day of the sale. Auction time is 2.15pm sharp.

 

     NEWS SNIPPETS

  Pawnshops did a roaring business last year, with a turnover of S$1.1 billion. Singaporeans and other residents, needing quick cash, made a total of 2.5 million transactions at the more than 70 pawnshops here, said Parliamentary Secretary (Prime Minister's Office and Health) Chan Soo Sen on 10 Sep 2000. (Straits Times 11 Sep 2000)

Auctioneers no longer need to apply for licences to conduct sales. Parliament on 3 Jul 2000 approved the Auctioneer's Licences (Amendment) Bill which removes the licensing requirement. The Auctioneers' Licences Act, enacted in 1906, regulates those who conduct the sale of goods or any other properties through open bidding. Finance Minister Richard Hu, who proposed the change, said that regulating auctioneers was irrelevant because other modes of sale, like direct and exhibition sales, and telemarketing are not licensed.

     According to the Registry of Pawnbrokers, about 2.4 million pledges were redeemed in 1999 - around 4% more than 1998's 2.3 million. Pawnshops also lent less money in 1999 than in 1998, an indication that good times are coming back. Pawnshop loans dipped 4.3% to S$1109 million in 1999 from S$1159 million in 1998.

 

YEAR

TOTAL PAWNSHOP LOANS

1999

S$1109 million

1998

S$1159 million

   

Wang Wang Pawnshop P/L Blk 204 Bedok North St 1 #01-423
Heng Fatt Pawnshop P/L 255 South Bridge Road
Thai Hong Pawnshop (Pte) Ltd Blk 72 Lorong 5 Toa Payoh #01-580
First Pawnshop P/L Blk 846 Yishun Ring Rd #01-3667
Tai Siang Pawnshop P/L Blk 66 Kallang Bahru #01-515
Heng Seng Pawnshop Co (P) Ltd Blk 79 Toa Payoh Central #01-37
Heng Soon Pawnshop (Pte) Ltd 244K Upper Thomson Rd 5˝ms
Hup Fatt Pawnshop Co P/L Blk 27A Commonwealth Ave #01-280
Joo Hwa Pawnshop P/L Blk 201-D Tampines St 21 #01-1165
Jurong Pawnshop (Pte) Ltd Blk 966 Jurong West St 93 #01-217
Kian Hin Pawnshop P/L Blk 184 Toa Payoh Central #01-360
Kong Hin Pawnshop P/L 314 Changi Road
Lian Chong Pawnshop P/L Blk 204 Serangoon Central #01-108
Lian Foong Pawnshop P/L Blk 214 Bedok North St 1 #01-159
Lian Hin Pawnshop P/L Blk 40 Holland Drive #01-29
Lianhe Pawnshop P/L Blk 89 Bedok North St 4 #01-85
Shing Heng Pawnshop P/L Blk 1A Woodlands Centre Rd #01-98
Thye Lian Pawnshop P/L 621 Balestier Road
Thye Soon Pawnshop P/L Blk 728 Ang Mo Kio Ave 6 #01-4232
Ban Foh Pawnshop P/L Blk 463 Jurong West St 41 #01-574
Ban Sun Pawnshop P/L Blk 345 Jurong East St 31 #01-11
Ban Hin Pawnshop P/L Blk 924 Yishun Central 1 #01-342
Ban Joo Pawnshop Blk 1 Tanjong Pagar Plaza #01-15
Ban Kim Pawnshop P/L 296 Balestier Road
Ban Soon Pawnshop P/L Blk 101 Yishun Ave 5 #01-63 
Chye Fatt Pawnshop P/L Blk 501 Jurong West St 51 #01-287
Chye Hin Pawnshop (Pte) Ltd Blk 828 Tampines St 81 #01-232
Da Li Pawnshop P/L Blk 211 Hougang St 21 #01-285
Fook Cheong Pawnshop P/L Blk 713 Ang Mo Kio Ave 6 #01-4048
Fook Hin Pawnshop P/L 390 Geylang Road
Yong Sheng Pawnshop P/L Blk 12 Haig Road #01-325
Hua Lian Pawnshop P/L Blk 503 Tampines Central #01-309
Fook Lian Pawnshop P/L Blk 555 Ang Mo Kio Ave 10 #01-1970
Min Tai Pawnshop (Pte) Ltd Blk 177 Toa Payoh Central #01-148
Fook Soon Pawnshop P/L Blk 202 Ang Mo Kio Ave 3 #01-1660
Fook Thai Pawnshop P/L Blk 116 Lorong 2 Toa Payoh #01-148
Thai Shin Pawnshop P/L Blk 253 Jurong east St 24 #01-249
Soon Chong Pawnshop P/L Blk 513 Tampines Central 1 #01-154
Soon Hin Pawnshop P/L Blk 145 Tiong Bahru Rd #01-1018
Tai Hin Pawnshop P/L Blk 638 Bukit Batok Central #01-22
Tai Hin Pawnshop P/L Blk 102 Towner Road #01-266
Teck Chong Pawnshop Blk 339 Ang Mo Kio Ave 1 #01-1585
Teck Hing Pawnshop (Ngee Kee) P/L 352 Geyland Road
Heng Leong Pawnshop (Pte) Ltd Blk 77 Indus Road #01-527
Thye Eik Pawnshop P/L Blk 305 Woodlands St 31 #01-89
Thye Joo Pawnshop P/L Blk 624 Choa Chu Kang St 62 #01-240
Thai Sun Pawnshop P/L 233 Jalan Besar
Thai Chong Pawnshop P/L Blk 133 Jalan Bukit Merah #01-1508
Thai Chong Pawnshop Co P/L 74 Serangoon Road
Thai Onn Pawnshop P/L Blk 161 Bukit Merah Central #01-3717
United Pawnshop P/L Blk 374 Bukit Batok St 31 #01-180
Wan Keong Pawnshop P/L Blk 109 Gangsa Rd #01-155 Bukit Panjang New Town
Wan Onn Pawnshop P/L Blk 18 Toh Yi Drive #01-109 (Jalan Jurong Kechil)
Loong Chong Pawnshop P/L Blk 354 Clementi Ave #01-181
Wing Teck Pawnshop P/L Blk 153 Serangoon North Ave 1 #01-498
Yick Koon Pawnshop P/L 71 Tiong Bahru Road
Yong Teck Pawnshop P/L Blk 8 Hougang Ave 3 #01-32
Heng Heng Pawnshop P/L Blk 631 Hougang Ave 8 #01-14
Loong Shing Pawnshop P/L Blk 442 Clementi Town Centre Ave 3 #01-95
Lian Thye Pawnshop (Pte) Ltd 56 Changi Road
Min Lian Pawnshop P/L Blk 2 Geylang Serai #01-30
Ban Lian Pawnshop P/L Blk 1 Rochor Centre #01-514 Rochor Rd
Min Seng Pawnshop P/L 128 East Coast Road
Nam Cheong Pawnshop P/L 287 South Bridge Road
Sam Thay Siew Kee Pawnshop Blk 465 North Bridge Road #01-5087
Sengkang Pawnshop P/L Blk 809 Hougang Central #01-182
Sembawang Teck Hing Pawnshop P/L Blk 729 Yishun St 71 #01-115
Sheng Cheong Pawnshop P/L Blk 258 Bukit Panjang Ring Road #01-48
Tack Sing Pawnshop P/L Blk 102 Yishun Ave 5 #01-119
Ban Yu Pawnshop P/L Blk 28 Teban Gardens Road #01-514
Clementi Pawnshop P/L Blk 445 Clementi Ave 3 #01-139
Tai Eng Pawnshop P/L Blk 218 Bedok North St 1 #01-31

Auction Information Tel: (65) 6533 0220