According to the management of Consumer’s Gold Dealer on Saipan, if pawnshops work with DPS, police can immediately track down stolen items.
The CGD management told the Variety that in other countries, pawnshops have access to a software program used by the police so they can immediately check if an item being pawned has been listed as lost or stolen.
CGD said it has raised this concern with DPS before but no action has been taken.
With the absence of a safety net or tool to validate each item brought to pawnshops, these establishments will have to use their own judgment to determine if an item being pawned or sold is stolen, CGD said.
“If anything is out of the ordinary, like when somebody brings expensive jewelry and sells it to us at a very low price, that would set the bells ringing,” CGD said.
“We would like to erase this impression that all the items we sell are stolen goods,” it added.
As a precaution, CGD said it doesn’t accept anything if the person bringing the item cannot present any valid identification.
“When somebody comes to pawn or sell jewelry, we require a valid ID with photo like passport, a state ID, or a driver’s license. We retain copies of these documents for our records,” CGD said.
In these harsh economic times, pawnshops are the “emergency savior” after the banks have turned you down, CGD said.
“If you apply for a loan at the bank, it requires time and much paperwork and it is because of this that people turn to pawnshops for fast cash and as a solution to emergency financial problems.”
But members of the community should understand that pawnshops offer temporary solutions to their financial woes, CGD said.
“We would not encourage the community to make it a habit.”
Pawnshops are subject to the Pawnbrokers Act.
Saipan has over 20 pawnshops which are under the supervision of the banking and finance section of the Department of Commerce.
CGD is urging members of the community to keep a record of their appliances, jewelry and other valuable items by listing the models and serial numbers and to take photographs of these items.
“If you have jewelry, you can wear them and have your photo taken for your files,” CGD said.
It added that the members of the community should immediately report to the police if any of their valuable items have been lost or stolen.
Variety is yet to get a comment from DPS.
