High-end pawnshops in Beverly Hills, where people hock Cartiers, Harleys, Oscar statuettes, Bentleys, and Basquiats have seen an upswing in business, Bloomberg reports.  

“Business is booming,” said Jordan Tabach-Bank, the chief executive officer of Beverly Loan Co., a pawnshop whose showroom includes an 18-carat yellow gold Rolex Yachtmaster II (“a steal” at $18,500), as well as signed works by Pablo Picasso, Robert Rauschenberg, Norman Rockwell, and Al Hirschfeld. A Keith Haring is currently available for $2,500, and a Warhol print for $250,000.

South Beverly Jewelry and Loan, also in Beverly Hills, has seen business triple in the past six months, according to owner Yossi Dina. The parking lot currently holds 60-odd cars, including Ferraris, Porsches, and a Bentley.

The danger of the pawning surge is that it, like the mortgage market, could lead to an increase in customer defaults. Collateral Lender Inc. of Beverly Hills reports that its redemption rate has fallen seven percentage points to 82 percent and will likely drop more during the next six months, according to owner Tal Schmargal.

Under California law, a pawned item remains in a shop for four months and 10 days, after which the client can get it back by paying off the loan or delay redemption by paying just the interest.