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“My son and partner Matt Luczak will be taking a Diamond Grading class sponsored by the Gemological Institute of America in New York. Josh Bryant, our newest hire, will be joining Matt in attending the Luxury or Lie Workshop sponsored by the National Association of Clock & Watch Collectors to enhance our ability to provide more money, more quickly on quality timepieces,” says DeLucia.
With over 20 years of industry experience, Alexander DeLucia previously augmented his own knowledge with courses from the Gemological Institute of America (diamonds), the American Numismatic Association (coins) and Christie’s (decorative arts). Diamonds and watches have always been a mainstay of the pawn business.
“They are easily portable, can pack a high value and represent something people may love but can live without for a period of time,” he said.
Yankee Peddler sees many 3+ carat diamonds, as well as plenty of luxury watches, he said. For a business that often needs a second opinion on a diamond grade or to verify authenticity, the additional training in diamond and quality timepiece grading will mean a quicker turnaround, as well as more money, for clients, he said.
Yankee Peddler customers can visit the Norwalk store at at 212 Main St. or access its listings on Ebay through the company’s website. Using a team approach (Internet specialist Pete Bafundo assists Matt in managing all the correspondence) "saves time, reduces stress and puts money in people’s hand immediately,” says DeLucia.
Whether it’s jewelry, fine china, paintings, sports equipment, electronics, musical instruments or DVDs, 80 percent of the money the business advances in any given month is for items people want to reacquire.
“In essence we provide small loans collateralized by individuals’ personal property,” said DeLucia. At the three-year mark, the business has invested nearly $2 million and assisted thousands of individuals.
DeLucia reminds customers that the pawn industry is regulated. Stereotypical visions of stolen goods and broken objects linger in many peoples’ minds. “Most people do not realize that the operations of licensed pawnshops in Connecticut are overseen by the local police department,” says DeLucia.
For more information, visit the store’s website.
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