A loan option
DOWNTOWN — With The Beatles’ “All You Need is Love” playing in the background, Patrick Fischer and his fellow pawnbroker Debbie Dowse sit behind a tall,wooden counter processing paper work while waiting for a customer to come walking through the doors of Angelo Garzieri’s Jewelry and Loan Company, the “Pawn Shop to the Stars.”
The two are surrounded by treasures of all kinds, from pink cowboy boots and gold watches tucked away in long glass cases, to acoustic guitars and platinum records hanging from walls stretching 20 feet high.
There are no security bars or dark shadows where sleazy salesmen chomp on cigars with a sinister grin, salivating over the chance to take advantage of a desperate patron.There are no thieves looking to unload the previous night’s stash — just Fischer and Dowse, two easy-going loan officers eager to lend a helping hand to those in need, that is when they aren’t busy teasing one another like siblings on a long road trip.
“There are plenty of misconceptions and stereotypes about pawn shops,” said Fischer, 46, a tattooed transplant from Minnesota who has worked as a pawnbroker in Santa Monica for the last 11 years. “You think people are coming in here selling off their family heirlooms for a can of soup. It’s just not that way. People just do what they do. You come in here waiting for your pay-check and you need to loan in your camera to make if through the week. That’s all.
“We do what a bank does but on a smaller level,” Fischer said, tossing aside sarcasm for a small dose of sincerity. “Actually, we do what a bank won’t do.You can’t go into Bank of America and say ‘Hey, I’m a little short this week. How much will you give me for this watch?’”
With some down time between customers, Fischer talked with the Daily Press about the pawn shop business and some of the misunderstandings people have. In short, Angelo’s may be the pawn shop to the stars, Fischer said, but there is nothing Hollywood about it — except for occasional paparazzi.
How did you get into the pawn shop business?
“Through a natural occurrence of events. I’ve always dealt with old and unusual things. That’s always been my passion, so the transition here was pretty easy.”
What do you think spawned that interest? “Probably have an old soul, I don’t know.”
Are you a pack rat? “I have a lot of things at home, but I’m not a pack rat though. People say my house looks like a San Francisco whorehouse in the 1800s. It’s very western nautical, everything’s old, classic. It’s very eclectic … When people come over they’re always wanting things. ‘Oh, can I have that when you die?’Hell, take it now, why wait and hover like vultures.I really don’t care. If someone really wants something, I have no problem giving it up. It’s stuff, you know. Besides, it’s bad business to hoard. We’re here to sell things, not pack them away.”
When did you start working as a pawnbroker?
“About 10 or 11 years (ago). I worked in movies before that. I did pretty much everything behind the scenes, from the props, to setting up shots, a lot of manual labor, everything but directing … I’m too old for that kind of work now. Too grueling.”
What’s the demographic of people coming in here?
“Everyone from the rich and elite, movie stars to the down and out, everyone. Most times, there are more people like me and you than the rich and down and out. You would think it would be more of the down and out but that’s not the case. It’s really just people who need a little cash to hold them over until they get paid.”
It says “Pawn Shop to the Stars.” Have you had any celebrities in here?
“Yeah, but I won’t tell you just out of respect. And it’s not to be all mysterious … I’ll tell you another good story. I had a big star in here, and a paparazzi came flying in here to give them a whole bunch of information and I told them I wouldn’t do that, and he started getting an attitude with me. So, I got an attitude with him and chucked him right out of the store. I would do that for you, if somebody came in, ‘Who was that? What did he want.’ It’s none of your business. Not only do I protect the rich and famous, but anyone who comes in here. Your business is your business, and we do not disrespect that.”
Why Santa Monica? “Well, the shop was here, it’s been here since 1984. The owner’s what attracted me. He’s a great guy, best guy I’ve ever worked for, and that’s not me just kissing his ass either. He’s just a real wonderful guy, real genuine, down to earth, just an all-around great guy and a hard worker.”
What is the most bizarre thing someone has ever tried to sell you?
“Well, there’s been a lot of things really, but one that sticks out is a prosthetic leg, and that was at the insistence of (the customer), you know. We’re in the business of trying to help people out, so you’ll loan on things that you normally wouldn’t, and this guy came in with a prosthetic limb. I told him we’d loan him a couple bucks, you know, help him get through whatever he was going through, but we didn’t want to take the guy’s leg. He said, ‘No, don’t worry, I’ll be back,’ like he was going to hop right back in here on one leg with the money. It wasn’t like we were going to cheat the guy out of his leg. We were really hesitant about it, but he insisted. So, we get things like that sometimes.”
What’s the average price of an item? “Every piece of merchandise stands on its own, so there is no set price. You have a price in your head that you would like to get, but you almost never do.”
Do people bargain? “When they’re buying things, absolutely. It’s expected … People ask if you can do better. Now, I’m not telling you these things so you can use them against me (smiling). Always in any pawnshop, you can expect people to try and get a bargain. Swap meets used to be like that. You used to ask them, ‘Hey, can you do better?’ Now, with e-Bay and everything else, people say no. And I find that offensive.”
It’s interesting that you bring up e-Bay. Has that site and others hurt the pawn shop business?
“I don’t think a lot, because so many people have been burned by e-Bay that they want that hands on, they want to see the merchandise. e-Bay can be such a hassle too, with all the fees and things.”
Favorite thing about Santa Monica and least favorite?
“Dining is my favorite thing. I love Yankee Doodles. I love the King’s Head and Monsoons. Least favorite, the hypocrisy, and you can quote me on that.”
What items stay here the longest and which ones are bought up rather quickly?
“Well, in the old days you used to be able to track it. Nowadays, there’s no rhyme or reason, which is very strange. People used to come in for certain things like jewelry or guitars. These days you just can’t tell what people want, which is why we are setup the way we are. We try to have a very eclectic selection to cater to all types of people. Some days I’ll have a lot of people coming in for old guitars, video tapes, cowboy boots, accordions, and the next day I’ll sell a lot of jewelry. You just can never tell.”
What are some of the oldest things you have here.
“A lot of the older stuff comes from the 1800s, like old surveying scopes to vintage bowler hats.”
What’s your markup? “Sometimes dollars for what we put into it. A pawnshop is not about getting something for nothing. Electronics are a nightmare because they devalue so quickly. A brand new computer, $2,5000. In six months, it’s half. A year down the line, you can’t even give them away. Since we can’t dictate our loan periods, you’ve got to be aware of that. You won’t loan someone $2,500 on a computer or even half that because three or four years down the line, you’ve lost a ton of money on an item.”
So how do you determine how much you are willing to loan?
“When it comes to electronics, yes, you’ve got a lot of factors involved. When it comes to everything else, it’s easy. There’s gold weight and diamond size that we go buy. Guitars have a value. Guitars will go up in value. Electronics are really the only things that take a dive so quick, that you have to be aware of them.”
What’s the length of time someone has when they pawn something before it becomes yours to sell?
“Four months in the state of California, with a 10 day grace period. People can come within that period of time and buy the item back or pay the interest on the loan and extend if for another four months, or just let the item go.”
You said something interesting … “Did you hear that? I said something interesting.”
You have all this great stuff, but you’re not making money on it?
“Well, it’s not just that. People have this attitude about a pawnshop. A lot of times they think isn’t it sad or depressing, but when you look around, it’s just stuff. The best story I’ve always got to equate to that scenario is a young girl came in her one time with her grandma’s bracelet and it was just the most incredible gold charm bracelet I had every seen. It was this beautiful ruby and diamond bracelet out of the 30’s and then she had several new things that she had bought. She was trying to sell her grandma’s stuff and put a loan on her stuff. I was trying to tell her to do the reverse … I’m a pawnbroker, but for 20 minutes I tried to talk her out of it. ‘Sweetie don’t sell this. Just take a loan on it and have sometime to think about.’ But she insisted. She was in her 20s and said the jewelry was ugly, that she would never wear it again, that it was hideous. So I bought it. It was in my case for less than a week when another young girl about her age saw it and fell in love with it. She was like ‘Oh my God, I’ve got to have it.’ Now, how cool is that? Even though it didn’t stay in the family, it went from one young girl who could care less to another young girl who is going to cherish it for a lifetime. So that’s it, that’s the business. Art and jewelry are very personal things. What may appeal to me, may not appeal to you. So, hopefully you are finding good homes for the little treasures. That’s when this business gets really cool, when you get people into stuff that you think is a treasure that they will cherish for the rest of their lives.”
What’s a P.D. hold? “Well, we are very heavily regulated. We have to fill out paper work on everything. We make copies of I.D.s, take signatures, fingerprints, and all of it goes to the police department every day. We do that to make sure that things are not stolen, and if they are stolen, you can retrieve them. So really, the stupidest thing if you steal something is to bring it into a pawn shop. But that never stops stupidity.”
So you do get people who bring things in that have been stolen?
“It’s very rare. I’ve been here 11 years and you would think the ratio would be a lot greater, but no. I won’t deal with people who I think are stealing things. If I see a street kid and he’s got something he shouldn’t have, I won’t deal with him.”
Any cases been solved out of here? “Oh sure, we’ll go to court. I’ve been to the courthouse many times to be a witness for a prosecution. I don’t tolerate that crap. You have a man who is going to steal and then come into your place of business and sell you something stolen, I have no problem putting that guy away.”
What’s the longest thing that has sat in here?
“We’ve had things here since we’ve opened. When you are eating merchandise and you look around and see something that has been around here for 20 years, you’re like ‘Aye caramba.’ There are things that have been here as long as I have, like the surveying scope and it just drives you nuts. I’d sell it cheap, sometimes even at a loss just to get rid of it. Some guy came up to me and said, ‘You know, you can get $10,000 for that on e-Bay.’ Well, I’ll sell it to you for $1,000 and you sell it on e-Bay. I couldn’t even get that.’”
What is the total value of everything in this store?
“What I can get for it. Truly that’s the honest answer. People walk in here and say, ‘Oh my God, that’s so expensive.’ We are willing to go hundreds below what we are asking. We have ideal prices that you’d like to get, but that almost never happens.”
Anything bizarre happen while you’ve worked here?
“Plenty. You’ve got to remember, you are dealing with human nature. It all depends how people come at you. There are those who come at you who are very genuine and heartfelt, and then those who are telling you stories about how they are trying to accomplish this, or their real motive is this and, on top of the crazy outrageous people you see … yeah.”
How do you deal with these folks? “Well, Debbie’s really nurturing. She loves to talk. Me, only towards the women and old people. I’ll be really tolerant. For guys, I won’t. They should get it, you know. Nothing disrespectful about it, I just can’t stand whining with guys. I’ll have a guy here, and a woman there and the guy will be like, ‘Why aren’t you treating me like that?’You’re a man, you want me to treat you like a woman?”
Do you think that providing an immediate, emergency loan is providing a public service ?
“Absolutely. We have people here all day who are in need and we try to be aware of that. In doing business, you can never be arrogant, to think that we are doing someone a favor. People are patronizing our business just like anywhere else. If it works out for them, it works out for us. You are dealing with people who may be very sensitive so you don’t want to be arrogant, like the statement I made earlier about hypocrisy. We pay (city employees) salaries and they don’t give a (crap). They don’t really cater to the business community and that’s offensive. For us, while were on a much lower level, we still have respect for the human condition. You just have to be aware of that. I do that in my personal life and I do that here too.”
Isn’t that just part of the game? “It’s not a game. We are not gaming people, we are not being dishonest. This is a business and you have to treat it like one, but at some point, when you are having a bad day, you are willing to selling whatever you can just to recoup. At one point, you have to just say you are going to take a loss and you have to be willing to adjust to that. It really goes both ways.”
Originally published in the Santa Monica Daily Press print edition on September 11, 2006. Read the original PDF.