Work as a pawnbroker

You must obey the following legal requirements to work as a pawnbroker.

Display your licence

You must display a sign at your place of business to show that you are licensed.

The sign must:

  • show the name of the licensee in text that is at least 50mm high
  • include the words ‘licensed pawnbroker’ near your name
  • show the names of an associate in charge of the business in text that’s at least 50 mm high
  • include the word ‘associate’ near their name.

Observe the redemption period

The redemption period is 3 months, unless you and the person pawning the goods decide on a different period. Record the redemption period in the property register.

You must not sell or dispose of goods before the redemption period expires.

When the redemption period expires, you can sell the goods:

  • at the place they were pawned
  • by auction.

To sell the goods by auction, advertise the sale of the goods at least twice in your business’s local newspaper at least 4 days before the auction date.

Conduct trade with integrity

You must:

  • trade only from the places listed on your licence
  • tell the police if you acquire goods that may be stolen
  • only hire staff if they are 17 years or older.

You must not accept a pawn or pledge from a person who is (or seems to be):

  • younger than 17 years
  • under the influence of drugs or alcohol.

Keep a transactions register

You must keep a transactions register for each place of business. You must keep a record of any time you accept a pawn or pledge on an object.

Details to record

You must:

  • make each entry immediately before or after the transaction
  • only correct an entry in the register by making a new entry
  • give information in your register to the police if they ask.

You must not:

  • make false or misleading entries in the register
  • alter the register by removing an entry or making it illegible.

You must record the following details every time a person offers you goods as a pawn or pledge. Make sure you include:

  • your name
  • the entry and pledge number
  • current time and date
  • description of the goods, including brand name, model and serial number
  • details of any engraving, inscription or unique mark on the goods
  • the amount of money you advanced
  • the interest you will charge
  • the redemption period.

You should also record their personal details. Make sure you include:

  • their name and address
  • proof of their name and address (you need to view a document that verifies their name and address, such as a drivers licence, but you don’t need to take a photocopy of it)
  • a statement to confirm if they own the goods
  • the owner’s name and address (if the seller isn’t the owner)
  • a statement to confirm how they obtained the goods.

Sample register

As long as you have the necessary information, you can set out your register however you like. The following sample may help you, but you don’t need to follow this format.

Sample transactions register (pawnbrokers) (PDF, 106KB)

Police database

The police keep track of stolen property through the Stolen Property Identification and Recovery System (SPIRS).

To help find stolen property, they compare the data from transaction registers to the SPIRS database. You can forward your data to the police on a regular basis.

This will:

  • reduce how often you need to manually give information to the police
  • lower the amount of police correspondence you need to do
  • identify more stolen property
  • make it easier to find offenders and improve the chances of being reimbursed.

Contact the police for more details about the SPIRS database. You can email them at SPIRS.Admin@police.qld.gov.au