Meet Larry Cohen

Today we’d like to introduce you to Larry Cohen.

Thanks for sharing your story with us Larry. So, let’s start at the beginning and we can move on from there.
My father started our wholesale jewelry and lending business in 1952 in Chicago. From age five, I would go to work with my father, and he would let me take watches apart and put them back together. I could successfully repair broken watches at age six. I quickly developed a passion for watches and talking to customers. As years went on, I opened a total of 5 successful Pawnshops in Chicago. My three children decided to go to ASU for college and by the time my 3rd child made up her mind to move to Arizona, we were only a few steps behind. In Arizona, we started with gold buying stores known as The Gold Guy- Cash for Gold. We quickly opened six stores and we have earned the reputation as Arizona’s largest gold and wholesale jewelry buyer. We offer quality, integrity, trust and personal attention to our clients. We had many customers who needed cash but didn’t want to part with their jewelry. After hearing a need for this in Arizona, we decided to open up our first Jewelry lending business in the valley called Elite Jewelry and Loan, which is also the home of Elite Fine Jewelers. Elite is an upscale jewelry store that offers fine jewelry, diamonds and watches, vintage jewelry and other luxury pieces at wholesale prices to the public. We specialize in GIA certified diamonds, engagement rings, jewelry and watch repairs, custom jewelry design and in-house creations. We treat our customers like family and we don’t want to see anyone overpay for fine jewelry and diamonds.  My three kids and wife helped build up Elite and we work together everyday. There is nothing like waking up, coming to work and seeing your children demonstrate values and work ethics you taught them.

Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
It has not always been a smooth road. One struggle we deal with is the negative association of your typical jewelry lending business. The term “pawnshop” is often times not well received. Many people associate the word “pawnshop” with stolen merchandise. This is far from the truth. Pawnshops are highly regulated by state, county and local government. Every single person who gets a loan or sells jewelry is required to provide identification and fingerprints. That information as well as the details of each item received is sent to the police department.

Alright – so let’s talk business. What else should we know about you and your career so far?
We understand that people can become strapped for cash and need an instant loan. Getting a loan from a bank is often difficult and time consuming. We offer a unique financing option of using your upscale assets as collateral. We can provide you a short term 90 day loan immediately. If you need more time, simply pay the interest, and the loan will be renewed for another 90 days. You can do this as many times as needed. We are licensed and insured, so your valuables will be safe and secure at all times. We go above and beyond to help our clients get back on their feet.

Do you look back particularly fondly on any memories from childhood?
My favorite memory from childhood is all the times I went to work with my father and everything he taught me about the jewelry business.

Contact Info:

• Address:805 N Scottsdale Rd
• Website: www.elitejewelryandloan.com
• Phone:4806996639
• Email: elitejewelryandloan@gmail.com
• Instagram: https://instagram.com/elitefinejewelers
• Facebook: https://facebook.com/eliteJewelryandLoan/
• Yelp: https://www.yelp.com/biz/elite-jewelry-and-loan-tempe
• Other: www.elitefinejewelers.com

Image Credit:
Rita Sherman (the family photo outside)

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