Esquimalt Trading: Part of the Community Since 1974

One of the oldest forms of business, the pawn shop was a common sight in China more than 3,000 years ago. This ancient form of commerce is alive and well in 21st century Victoria thanks to Esquimalt Trading Ltd. and several other pawnshops serving a customer base from across the metropolitan area.

“We are a family business started by my father Ed Scott. I was running a shop,” explained Doug Scott, the current owner.

“When they closed, they had a lot of excess inventory, so we rented one of the side stores that belonged to Charlie Rowe, who owned Fairway Market at the time, and ran it on a monthly basis. from.”

Today, Esquimalt Trading, located at 897 Esquimalt Rd., transitioned in 1976 into a pawnshop offering secured loans in addition to selling second-hand goods.

Today, the shop offers a wide range of products, from electronics to tools, with a focus on jewelry, in addition to offering short-term loans to customers.

“My dad was in the military. He was a doctor. I would have to say I grew up in business,” Scott explained.

Just like thousands of years ago, pawnbrokers take items of value from their customers and use them as collateral for small loans. Items are stored for some time before being placed in stores for sale. During this period, the item will be kept safe and the owner will be able to get it back by paying off the loan and interest. It will only become available for purchase from the public if the owner does not return to retrieve the property for approximately 100 days.

“You can’t go to the bank and get a $50 loan or a $100 loan, but that might be what you need right now. That’s why the secured loans we offer are so popular. ‘ explained Scott.

Esquimalt Trading’s inventory includes a wide range of jewellery, partly thanks to the Victorian demographic. “There are a lot of property sales going on in Victoria where family members are getting gems from deceased people. ” he said.

Evolving with the times and playing an active role in the community, Esquimalt Trading wants to continue serving the needs of its clients. “We are still happy to be part of the community. We not only serve the community, we are part of it, and we want to continue to serve it.”

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business victoria