PANTSAT.DK is the leading pawn shops in Denmark. We are located in the heart of Copenhagen & Aarhus. Our concept makes it possible for you to get a loan in your items. For example with a phone, watch, jewelry or a car.
Fill out our online application form. Fill it out as best you can – we will contact you if we need further information.
You can also contact us by mail, chat or phone and get answers to your questions.
We make an assessment and send you a non-binding loan offer – usually within a few hours.
If the offer is relevant, you can hand in or send the item to our stores in Copenhagen or Aarhus
You deposit your item in our store and receive the payment directly into your bank account with a bank transfer.
Of course, we take good care of your item and store it in our insured warehouse.
You decide when you want to repurchase your item – It could be 14 days or 5 months, it’s up to you.
There is no requirement to repurchase the item.
A pawn shop is a company, which loans you money in exchange for taking you things in security – pawned. Pawn, put simply, just means that there is some security for the money loaned out. To pawn something is therefore very normal, if you for example loan money at the bank or a mortgage company to buy a house or apartment, they will take security in it. Likewise, for companies, it is possible to pawn their assets – like machines or product stock.
The pawned item acts as security, just in the case you are not able to pay back the loan. In the case where you don’t maintain the loan, the pawn shop can sell your item and get the money back for the loan that way.
The pawn shop business has almost been nonexistent in many years. The past couple of years however, there has been increased demand for access to fast financing. This can for example be seen by the growth of online quick loans and payday loans, which give people easy and fast access to money. This industry was very small just 5-6 years ago, compared to now where it is a market with more than 1 billion kroner in loaned out money.
Online quick loans and payday loans are appealing because they give fast access to money. Often, all you have to do, is fill out a form online, and shortly thereafter the money is on your account. It is however extremely expensive. As an example, the largest player in Denmark of quick loans has an APR (Annual Percentage Rate) of 820% (as of January 2019). The extremely high interest rates mean, that people often end up with more debt than their personal income can handle, and it is very difficult for them to pay the loan back.
With a pawn shop, you give them an item of value as security for your loan. That means, that in the unlucky situation where you cannot pay back the loan, the pawn shop can sell your item. Through the sale, they get their money back, and you don’t owe them any money. It is of course unlucky that you lost an item, but positively you never create a situation where the debt gets out of hand – there is no debt creation by using a pawn shop.
PANTSAT.Dk is Denmark’s leading pawn shop. One of the reasons for being the leading player, is that we accept the widest range of items.
As general guidelines they take anything of significant value. The following principles can be used to determine whether an item can be pawned at PANTSAT.DK:
GUIDELINE: If you can find similar items as your own item being sold online, it is possible for PANTSAT.DK to pawn it.
In practical terms, it has to be possible to determine what the item is worth, so looking online for similar items is a good start. Likewise, the item needs to represent value for more people than just you as the owner – e.g. it is not possible to take the affection value into account as this is only for the original owner. This is for example the case for inherited jewelry, which for the person has tremendous value but if it is sold to a new person, it would not represent that same value. As the loan is given with the item as security, the basis of the valuation is what it could be sold for to a new person, as it is based on the situation if you don’t repurchase the item.
When you use pawn shops, the loan you get is against security in your item. Therefore, it is not necessary to make a credit rating. Furthermore, with traditional loans, if you don’t pay them back it affects your credit rating negatively, and in Denmark you will be registered in RKI. However, this will not happen with pawn shops – if you don’t pay back the loan you have already provided your item as security, so no further action is taken.
At PANTSAT.DK, in the case where you don’t repurchase your item, we will try to sell your item – potentially on an auction or sales platforms like DBA, GuldogGratis or Facebook and so on.
Let’s take an example. Let’s say you have you have turned in an item and gotten 10.000 kr. in payment. In the case where you don’t buy it back, we will try to sell it. Let’s say we are only able to sell it for 8.000 kr. In that case, this is our loss, you still don’t owe PANTSAT.DK any money. Since we as a pawn shop have to cover such potential losses ourselves, is also the reason that we are very conservative in our valuation of items.
To use a pawn shop you need to have an item of value, which can be given to them as security. The payout you receive is based on the valuation of the item. At PANTSAT.DK you can get up to 50% of the items value paid out, however for some items which are easily sold, like gold, it can be up to 75%.
Therefore, the valuation is of course and important part of the pawning. The following can be used as general guidelines for how and what PANTSAT.DK values items in the different categories:
These categories are just a general guidance, there can easily be items which are unique and don’t fall in any of these categories – like boats, clothes, sporting equipment and so on. Likewise, for companies they can have items of value which can be relevant to pawn.
After we at PANTSAT.DK have valued your item, we will create on offer for how much we can give you in payout. For most items we can pay out up to 50% of the value, however this can be higher.
If you cannot find the answers to your questions below, you are always very welcome
to contact us via our chat feature or by phone.
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