Shawn Ambrose, Author at Goody Feed

When my mum accidentally cracked the face of her beloved Rolex watch, she was heartbroken. I tried to convince her to sell it but she was too attached to it. But when my grandmother needed some financial assistance for her medical bills, I persuaded my mum to pawn her watch. I went to a few pawn shops and failed miserably. They took one look at the cracked watch face and turned me away. Then I went to ValueMax. I went in expecting to be rejected again, but the friendly staff at ValueMax quickly ushered me in for an appraisal. The Process Now, if you're like me, you probably don't know much about the pawning process. Here's what happens: The appraiser scrutinises the item to verify its authenticity, check its condition and whether any parts have been replaced. He then tells you how much cash the pawnshop is willing to give you for that item If you accept and decide to pawn your item, the pawnshop will keep it as collateral for six months. If you pay back the principal amount plus interest within six months, you will get your item back. Being able to pawn her broken Rolex watch gave my mum the ability to help my grandmother financially. And in the meanwhile, she can take her time to decide whether she wants to pay to get it back, or just let it go. But why go to ValueMax instead of other pawnshops? Helping Those In Need What really sets ValueMax apart from their competitors isn't just because they're the experts when it comes to the pawnshop business, but their philosophy. They're not in this just for the money. Their first priority is to provide the best value they can possibly give to people who need money. In other words, a solid, dependable friend who will lend you money when you are most in need. Best Valuation I’m surprised I was able to get a good valuation for my mum’s watch considering its condition. In my conversation with the appraiser, I realised that ValueMax’s appraisers are able to give good valuation because they have many years of experience and can appraise an item accurately. Having lots of experience also means they’re able to accept diamonds and other gemstones without official certificates, many different brands and models of luxury watches, and also items of varying conditions. The fact that ValueMax outlets are usually located in the heartlands such as neighbourhood centres and shophouses means that they don’t have to pay high rental rates like those in shopping malls and can thus give better value to their customers. And It's Not Just Pawnage You're probably thinking you have no use for ValueMax because you don't need a loan. I thought the same. But then I found out that ValueMax sells a wide array of preloved goods ranging from S$50 to over S$200,000. And if you think that these preloved goods look time-worn or dull, think again. ValueMax houses their own workshop where experienced craftsmen polish and refurbish preloved goods before they are put up for sale. I personally couldn't tell that they were pre-owned. They all looked brand new to me. If you're intrigued by the vast array of goods at ValueMax but don't want to go down right away, you could visit their online store and look through their impressive collection of jewellery and timepieces. They even have a Carousell account where they list some of their products. I was certainly impressed by their preloved goods, but more than anything, ValueMax prides itself on being a reliable loan option for those in need of money. If you need a loan and you're thinking of visiting a bank or moneylender, you could consider visiting ValueMax instead. But Why? But why would someone choose a pawnshop loan over a traditional loan? Instant cash. Customers can walk into a ValueMax, pawn an item, and walk out with cash a few minutes later. Those in tight financial situations might value the speed with which they receive their loan, as opposed to banks or moneylenders. They're also more accepting than banks or moneylenders. They don't require credit checks, payslips, or CPF statements. Nor will they demand a minimum income. All you need is an item to pledge as collateral and proof of your identity. More importantly, ValueMax also offers a better interest rate than most personal loans from banks, moneylenders or credit cards. If you pawned a watch for S$1,000 and repaid the loan within the first month, you would only have to pay S$1,010. That's right, a $10 interest only. Getting a pawnshop loan also does not affect your credit rating or loan limit, unlike bank loans. Plus, a bank won't give you a loan for your valuables, will they? After visiting ValueMax, my perception of pawnshops has certainly changed. I no longer see it as a place where uncles and aunties surreptitiously pawn their items for fast cash, but as a valid loan option and a great place to purchase luxury items. No watches were harmed in the making of this article. This article was first published on Goody Feed and written in collaboration with ValueMax.

Shawn Ambrose

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