Register | Forgot Your Password? | Close
(Photo: Bob McClay/KTAR)

SCOTTSDALE, Ariz. -- Jewelry worth thousands of dollars. Valuable art, watches, and sports memorabilia. Even titles for collectible cars.

These are just a few of the items that are winding up in a Scottsdale business where people take their high-end valuables to get a little extra cash.

"We have everything from signed Babe Ruth bats, to some very fine art from quite a variety of artists," said David Goldstein, who founded Biltmore Loan and Jewelry eight months ago.

Goldstein said it's more like a bank than a pawn shop. He started the business because he saw that the banking system was broken four years ago.

"People had no alternative," he said. "They didn't know where to go. The banks weren't lending and the pawn shops were inundated and [too] uneducated to pay prices that are fair. So we just saw a beautiful fit to fit right between the two, and discount the rates."

Biltmore Loan and Jewelry gets anywhere between 2 1/2-6 percent interest per month on each collateral loan it makes. Goldstein said that some of his clients have had money in the past and are now down on their luck. For others, getting the loan is kind of a business deal.

"Our core market is more business-to-business," he said. "People who need short-term bridge loans to facilitate their business in a cash crunch."

Goldstein said his clients' privacy is important and whatever they bring into his store isn't just laying around.

"It's kept in a state-of-the-art security facility that's covered by Lloyd's of London while it's in our possession," he said.

Goldstein has made loans as high as $300,000 since opening.

share this story:
Attention Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus

World Class Arizona

  • Dignity Health

    World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.
  • CopperPoint Mutual Insurance Company

    SCF Arizona has a new name. They are now CopperPoint Mutual Insurance Company.
  • Taylor Morrison

    World Class People. World Class Company. We are a national home builder committed to building homes inspired by you.
  • Go Daddy

    World Class People. World Class Company. Go Daddy is a Fortune 100 "Best Companies to Work For."
  • Avnet

    World Class People. World Class Company. Here's information on a Fortune 500 company from Arizona.

Voice For A Better Arizona

  • Working For Arizona

    The business and economics of Arizona at the start of 2014 and looking forward.
  • Arizonans In Need

    Putting a focus on charities and organizations who provide help and/or need your help to fulfill their missions.