Modell, established in 1883, offers short-term collateral loans
On your
diamond and gold jewelry. Bonded and licensed by New York City's Department
of Consumer Affairs, the rates and fees are set by New York State. To the
benefit of our customers, NYS rates are amongst the lowest in the country.
Loans are written for a period of four (4) months. Interest is charged at a rate of four percent (4%) per month. There is a nominal ticket fee (maximum of $10) along with a vault storage fee.
All loans are insured by Lloyds of London and are stored in secure vaults. There is a one percent (2%) insurance charge which insures your jewelry at twice the loan value.
The borrower can redeem the loan at any time before the end of the four (4) month period, and will only be charged for that period of time which has passed. If after four (4) months, you cannot redeem your loan, you can request to pay the interest to date. If accepted, we will issue you a new ticket, which means you have a new four month loan. Upon repayment of the principal, interest and fees, the jewelry will be returned.
If you have any additional questions about Modell or our services, please see our FREQUENTLY ASKED QUESTIONS or contact one of our BRANCHES directly to speak to one of our trained pawnbrokers.
