Pawn Brokers Have Sold My Gold By Mistake

[Ljuk]

Hi could anyone please help me,any advice would be appreciated .To cut a long story short I visited a well known name pawnbrokers where I pawned a gold bracelet of mine,on the terms that I have 6 months to repay the loan and then get my bracelet back.The bracelet was a present from my partner from Thailand so was a expensive bracelet.My partner sadly past away recently ,so my first thoughts were to save the money to get this bracelet out ASAP before the 6 months.Well today I got the most shattering of calls from the pawnbrokers head office saying that by mistake they had sold on my jewellery .It was all to much for me to take in.The lady said she would be calling me back later this week once she had talked to her bosses on what they should do about the matter.Im so upset and angry.Any advice on what I should do please

[bednobs]

i can understand (a bit) how you feel, but the bracelet is just a thing, it's not your partner. you have your memories of the relationship, and getting the bracelt back wont brig your partner back
I understand that it had sentimental value, but it also had "real" value, which you utilised when you pawned it and which you had the benefit from.
I would wait till they call back to see what can be done. If they dont have the details of who they sold it to, probably not a lot. Who knows what that person has done with it - it may not even exist as a bracelet any more

[bednobs]

sorry just realised this is the law section. Ignore my post, as i dont know the law surrounding pawnbrokers

[Jackdaw33]

The bracelet was not theirs to sell until 6 months had passed. If its whereabouts are known it should be possible for them to repurchase it.

[Ljuk]

I have since been told it has been melted down,I’m so upset

[Jackdaw33]

If the price they sold it for exceeds the cost of the loan and their charges you are entitled to the balance.

[Tilly2]

Did the lady ring you back, to tell you that it had been melted down?

[Old_Geezer]

I'm no legal expert but if they sold it for a price where it was bought for melting down they surely must have sold it far too cheaply. Just wanted to make a quick return. It'd be a poor law if the full value of the jewelry wasn't offered. Sentimental value can't be brought back. Sometimes one needs to accept one of life's upsets.

[Jackdaw33]

You may also be entitled to compensation under the Tort (Interference with Goods) Act, though I'm not an expert in that field. But worth looking into.

[Tilly2]

Which 'well known name pawnbrokers' was it?

[Jackdaw33]

I could hazard a guess but it may be against Site Rules.

Pawnbrokers will only lend money on the scrap value of gold, not its real value.

[Tilly2]

...?

[Jackdaw33]

I could be wrong but think of a famous fish and chip shop with the same name.

[Tilly2]

Harry's?

[Jackdaw33]

I'm saying no more but you are on the right track.

[Tilly2]

Shhhh!

[EDDIE51]

Jackdaw is correct, pawnbrokers will only ever give the scrap value on Gold. You would need to auction it to get full market value.(minus auction fees)
Very sorry about your loss Ljuk but I think you will not get more than the scrap value back from the pawnbroker. Not fair and not your fault, but I think there will be a clause about compensation being limited to scrap value in the pawnbrokers terms and conditions.

[naomi24]

Eddie, // pawnbrokers will only ever give the scrap value on Gold.//

That isn't true. Have you never watched Posh Pawn?

This from the internet.

//we lend against all manner of jewellery whether it be scrap gold or fine pieces. //

https://www.maxcroft.co.uk/pawnbrokers/pawnbroking-faqs/#pawn_jewellery

[EDDIE51]

^ I VERY much doubt this was Maxcroft or another high end pawnbroker . Probably C*shConverters or similar.

[naomi24]

Eddie, you have no idea who it was - and you shouldn't give advice without first checking it's correct. A bad habit of yours.

[Jackdaw33]

Fine pieces could mean anything, not necessarily gold.