pawnbroker
Noun: A pawnbroker is a person whose business is to lend money to customers in exchange for personal property (such as jewelry, electronics, or musical instruments) that the customer leaves as security or collateral for the loan. The pawnbroker holds the item until the loan, plus interest and fees, is repaid. If the loan is not repaid within an agreed period, the pawnbroker has the right to sell the item to recover the money lent.
The term "pawnbroker" refers specifically to the individual or business entity that operates a pawn shop. It is a formal and occupational term. - It is used as a countable noun (e.g., a pawnbroker, the pawnbroker, pawnbrokers). - It describes a profession within the financial services sector, albeit an informal or alternative one.
- To be in pawn: An item is described this way when it has been given to a pawnbroker as security for a loan.
- My watch is in pawn until I get my next paycheck.
- Pawnbroking (noun): The business or practice of being a pawnbroker.
- He has been in the business of pawnbroking for twenty years.
- Pawnshop (noun): The physical store or business premises where a pawnbroker operates.
- He works at the pawnshop on Main Street.
- Pawn (verb/noun): The act of depositing an item with a pawnbroker (verb), or the item itself or the state of being pledged (noun).
- (Verb) I had to pawn my camera.
- (Noun) The ring is in pawn.
- Pawnbroker's: A term for the pawnshop itself, often seen in phrases like "at the pawnbroker's."
- I left it at the pawnbroker's.
- Collateral lender: A more formal term emphasizing the secured nature of the loan.
- Lombard (chiefly British, historical): A term for a banker or moneylender, historically associated with pawnbroking.
- Pawn ticket: The receipt given by the pawnbroker to the customer, which must be presented to reclaim the pledged item upon repayment.
- Don't lose your pawn ticket; you'll need it to get your item back.
- Unredeemed pawn: An item that was not bought back by the customer and becomes the property of the pawnbroker to sell.
- The unredeemed pawns are sold in the shop's monthly auction.
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a person who lends money at interest in exchange for personal property that is deposited as security
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