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In Michigan how long do pawn brokers have to hold merchandise before selling to public?
Wiki User
∙ 11y ago
there is no holding period. Pawn shops are only required to hold items that are under investigation for possible theft. A police report must be presented with the item's description , serial # etc in order for the the pawn shop to pull the item and hold it for 10 days. After the investigation is complete, the item is either claimed and returned to stock for sale. Pawn shops purchase items in"good faith". There is no possible way for pawnbrokers to know if items were stolen. If the item was re-sold in pawn shop before the rightful owner filed a claim, there is nothing anyone can do. At that point, file an insurance claim OR restitution from the person who stole it.
Wiki User
∙ 11y ago
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