Hocked Baubles of the Not So Rich and Famous

Beverly Loan Co. is not your average pawn shop. Established in 1938 by Louis Zimmelman, the Beverly Hills-based collateral business makes loans on Cartier watches and Picasso paintings--not on guitars and guns.

It’s a far cry from the shady storefronts with neon signs. A security guard watches over cases of sparkling tennis bracelets and rings with giant rocks. Chagalls and Warhols line the walls.

“Most of our clients are successful people who are experiencing a temporary cash crunch,” says co-owner Jean Zimmelman. Jean and her sister, Helaine, took over the business from their father in 1994.

Most people looking for a loan are waiting for an escrow to close or need temporary funds to hire a lawyer during a divorce settlement. Some want to pay for plastic surgery without anyone knowing about it, the Zimmelmans say.

Both sisters are gemologists, and their office houses a laboratory for appraisals.

The business is open to the public, and with jewelry two-thirds off the retail price, it’s an upscale bargain bonanza.

While she won’t divulge clients’ names, Jean does recall the time her father gave a loan to a princess. Smiling, she says, “When our dad started, he said he wanted a place where people could bring the family jewels.”

Beverly Loan Co., 9440 Santa Monica Blvd., Beverly Hills. (213) 272-1267.