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RetailISCO 4213

Pawnbroker

A pawnbroker is a person who offers clients loans secured against objects or personal items. The pawnbroker assesses the item handed over in exchange for a loan, establishes its value and the amount of the loan available against it, and keeps the inventory of what is held.

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Rate 5 of the 16 essential skills of this occupation (European ESCO data). No account needed.

decide on loan applications

identify customer's needs

estimate value of used goods

perform debt investigation

manage pawnshop inventory

About pawnbroker

Valuation is the decision the business rests on. The pawnbroker estimates the value of second-hand goods, which is not what the item cost or what the owner believes it is worth, but what it would realise if the loan is not repaid and the item has to be sold. Gold, tools, instruments and electronics each hold value differently, and an item valued too generously turns into a loss.

On the lending side, the pawnbroker analyses financial risk, works with debt systems, keeps the register of clients' debts and the record of financial transactions, and collects client data.

Customer contact is part of the job, and the pawnbroker communicates with clients. Managing the pawnshop's assets is the standing duty: the items held are other people's property until the terms of the loan say otherwise.

European Skills Framework

Skills and knowledge areas required for this occupation based on European classification.

Essential (16)

debt collection techniquesdebt collection techniquesThe techniques and principles used to collect overdue debt from customers.debt systemsdebt systemsThe processes needed to obtain goods or services before payment and when a sum of money is owed or overdue.communicate with customerscommunicate with customersRespond to and communicate with customers in the most efficient and appropriate manner to enable them to access the desired products or services, or any other help they may require.maintain client debt recordsmaintain client debt recordsPreserve a list with the debt records of clients and update it regularly.decide on loan applicationsdecide on loan applicationsTake into account the risk assessment and analysis and perform the final reviewing of the loan application in order to approve or deny the loan, and set in motion the necessary procedures following th...maintain records of financial transactionsmaintain records of financial transactionsCollate all the financial transactions done in the daily operations of a business and record them in their respective accounts.identify customer's needsidentify customer's needsUse appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.estimate value of used goodsestimate value of used goodsExamine items owned by an individual in order to determine its current price by assessing damage and taking into account the original retail price and the current demand for such items.perform debt investigationperform debt investigationUse research techniques and tracing strategies to identify overdue payment arrangements and address them.manage pawnshop inventorymanage pawnshop inventoryMonitor the current inventory of the pawnshop and ensure that there are never too many or too few items present in the inventory. Adapt pawnshop procedures in order to optimise the inventory status.collect customer datacollect customer dataCollect customer data such as contact information, credit card or billing information; gather information to track down purchase history.negotiate on asset valuenegotiate on asset valueNegotiate with asset owners or parties involved in handling the asset on the monetary value of the asset for selling, insurance, usage as collatoral, or other purposes, in order to secure the most fin...assess customer credibilityassess customer credibilityCommunicate with customers to assess whether their true intentions are in line with what they claim in order to eliminate any risks from a potential agreement with the customer.analyse financial riskanalyse financial riskIdentify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.determine resale value of itemsdetermine resale value of itemsExamine items to search for any damages or signs of deterioration and take into account the current demand for used goods of the item's nature in order to set a likely price at which the item can be r...handle financial transactionshandle financial transactionsAdminister currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.
Optional (8) — show
credit control processescredit control processesThe various techniques and procedures applied to ensure that credit is given to the suitable customers and that they pay on time.estimate value of musical instrumentsestimate value of musical instrumentsIdentify new or second hand musical instruments and estimate the market value of them based on professional judgment and knowledge of musical instruments, or subject them to estimation by a third part...obtain financial informationobtain financial informationGather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.enforce customer's debt repaymentenforce customer's debt repaymentMonitor customers to pay all debts and amounts due; negotiate return of merchandise.calculate value of gemscalculate value of gemsDetermine appraised value of gemstones such as diamonds and pearls. Study price guides, market fluctuations and grades of rarity.estimate value of used jewellery and watchesestimate value of used jewellery and watchesAssess used metal (gold, silver) and gems (diamonds, emeralds) based on age and current market rates.assess financial viabilityassess financial viabilityRevise and analyse financial information and requirements of projects such as their budget appraisal, expected turnover, and risk assessment for determining the benefits and costs of the project. Asse...perform market researchperform market researchGather, assess and represent data about target market and customers in order to facilitate strategic development and feasibility studies. Identify market trends.

Related Occupations

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Frequently asked questions

What does a pawnbroker do?

Pawnbrokers offer loans to clients by securing them with personal objects or items. They assess the personal items given in exchange for the loan, they determine their value and amount of loan available and keep track of inventory assets.

What skills does a pawnbroker need?

A pawnbroker needs 16 essential skills, including debt collection techniques, debt systems, communicate with customers, maintain client debt records, decide on loan applications.

Will AI replace pawnbroker jobs?

The AI disruption score for pawnbroker is 64/100 (high risk). Skills most exposed to automation: maintain client debt records, maintain records of financial transactions, collect customer data. Most resilient: negotiate on asset value, handle financial transactions, identify customer's needs.

AI Replacement Risk

64/ 100
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Quick Facts

SectorRetail
ISCO GroupCustomer services clerks
Essential Skills16

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