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Dragon Interview: Posh Pawn MD Tells Why He Chose Guildford

Published on: 20 Feb, 2021
Updated on: 23 Feb, 2021

By Hugh Coakley

“It’s a wealthy town. There are people with the assets, probably had money for a while, and that’s the sort of clients we look for,” says James Constantinou, managing director of Prestige Pawnbrokers, a new arrival on Guildford’s High Street.

And Guildford is the “perfect fit” for the new Posh Pawn shop, says James.

Interview with James Constantinou of Prestige Pawnbrokers and Dragon reporter, Hugh Coakley.

In a relaxed and illuminating interview, James was candid about his customers, how he found the shop in the High Street, and his plans.

He said he didn’t want to give too much away about the shopfitting but he mentioned an F1 car, on loan to him for a year, that would be in the window. He said: “You will be wowed, it’s going to be a showpiece.”

“It will be an exclusive, pre-owned retail shop” but there will be a door at the back of the shop where you can talk to an advisor if you want a loan.

Challenged on the rate of interest advertised on the Prestige Pawnbrokers website – more than 80% APR – James was quick to defend his business. He said it was the cheapest way of loaning money for a short period. “The 80% you are reading is a bit of a red herring – it’s a regulatory requirement. We don’t do loans for a year”.

James is an entertaining man and, right or wrong, Posh Pawn has changed the image of pawnbroking from a back street affair into one of celebrity and glamour.

“Pawnbroking was archaic and very, very safe. I like a bit of an edge on deals I do. Pre-pawnbroking, I was buying and selling almost anything”, he then added with a laugh, “It was a natural fit for me and I was given a licence. It goes with my personality and it’s paid off.”

You can see the full interview here.

See also:  Channel 4’s hit Posh Pawn shop to open in the High Street

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