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Pawnbroker License Auction

OverviewRegistrationRulesLand Use & LicensingFAQs
Overview

Overview

The city of Las Vegas will hold an auction for one Pawnbroker license Oct. 25, 2021, at 11 a.m. in Council Chambers on the second floor at Las Vegas City Hall, 495 S. Main St., 2nd floor.  

Registration

Registration

Auction/registration will take place at:

Las Vegas City Hall
495 S. Main St.,
Las Vegas, NV 89101

  1. All parties who wish to participate in the auction must have a valid registration to participate.
  2. Registration will take place the morning of the auction between 8 and 10:15 a.m. Anyone whose registration has not been completed by 10:30 a.m. will not be able to participate in the bidding.
  3. All participants must sign a bidder contract.
  4. LVMC 6.60.060 (B)(1) Registry with proof of identity.
    1. The individual directly bidding in the auction must present a valid government-issued ID. This is the individual signaling the auctioneer.
    2. If that individual is representing a business entity, such as an LLC, Partnership, or Corporation and is not a 10-percent owner, then they must have a signed letter stating that they can bid on behalf of that entity. Either an owner or officer/director, who can be verified through Secretary of State documents or other acceptable legal documents, must sign the letter.
    3. An existing business entity bidding must present at time of registration:
      1. A valid active State Business Registration/License from their respective Secretary of State or similar type office;
      2. Business Formation documents.
    4. A trustee bidding must present the Certificate of Trust and Trust Document. If someone else who is not named in the trust is bidding then a signed letter stating that they can bid on behalf of that entity is required.
      1. If you are uncertain what will be required, please email us at License@LasVegasNevada.gov prior to the auction.
  5. LVMC 6.60.060 (B)(4) A $10,000 deposit is required to be made at the time of registration. This deposit must be made by cash or certified funds ONLY. The city will keep the winning bidder and second-place bidder’s deposit. The second-place bidder’s deposit will be kept for 72 hours, in case the winning bidder fails to complete the required payment in 72 hours.
Rules

Rules

  • Only participants with valid registration may bid in the auction.
  • The designated auction time is 11 a.m. Oct. 25, 2021.
  • Only one pawnbroker license will be auctioned off.
  • The auction will be conducted by TNT Auction of Nevada Inc.  
  • The auction will be video and audio recorded.
  • The opening bid is $60,000 LVMC 6.60.060 (B)(2).
  • Payment of the full amount of the winning bid must be made within 72 hours after the close of the auction. Wire Instructions will be provided following the auction. The winning bidder will have until 4 p.m. Thursday, Oct. 28, 2021 to wire the money in full. LVMC 6.60.060 (B)(5)
  • If the winning bidder does not pay by 4 p.m. Oct. 28, 2021, that bid will be void. The second-highest bid automatically becomes the new winning bidder.
  • Following notification, the second bidder will have 72 hours to make payment.
Land Use

Land Use

What Type of Zoning can a pawnbroker have?  Auto-Pawnbroker?

  • Pawn Shop: C-1, C-2 and C-M with approval of an Special Use Permit (SUP); M is conditional (SUP required if conditions cannot be met).
  • Pawn, Auto: C-M with approval of an SUP; M is conditional (SUP required if conditions cannot be met).
  • Downtown Master Plan: Pawn Shops allowed with approval of an SUP in the T6-UC, T5-MS, T4-C and T4-MS transects (subject to attached min SUP reqs); Pawn, Auto not permitted.
  • May or may not be allowed in specific Special Area Plans (i.e. Summerlin, Town Center allow Pawn Shops in specific land use categories, but requires a SUP for all; Cliff’s Edge does not allow at all; Pawn, Auto not allowed in Summerlin, Town Center or Cliff’s Edge).

All Pawnbroker locations require a Special Use Permit for the land entitlement. This process can take three to four months. It requires Planning Commission and City Council approval.

What is the cost of the Special Use Permit?

  • $1,030 ($500 application fee; $500 notification; $30 recordation fee)

If they have a Secondhand Dealer SUP?  Do they need another SUP?

  • Generally, the Secondhand Dealer use is considered secondary to the Pawn use, so the Pawn use would always require the SUP, where applicable.

Other requirements may be required based upon the location. Waivers of distance separation as well as parking requirements may be an issue.

The city of Las Vegas offers a pre-application process that reviews all aspects of a site for free, once a site has been selected. Additionally, applicants should always verify with the Planning Department that a site of interest could receive approval for this type of land use before they purchase, sign a lease, start construction or improvements.

Pawnbroker FAQs

Pawnbroker FAQs

Q:How many pawnbroker licenses are in the city?
A: 24 existing Pawnbroker licenses.

Q: Do pawnbroker licenses require any permitting?
A: All Pawnbroker licenses require a Special Use Permit.

Q:What is the cost to renew the license, once awarded?
A: Semi-annual License fee of $500 for Pawnbroker and $250 for Auto-pawnbroker.

Q: Will I be required to hold any other licenses?
A: Most Pawnbroker license holders also carry a Secondhand Dealer license, which is a license based upon gross revenue per LVMC 6.04.

Q: What is the city’s population?
A: As of Sept. 1, 2021, the population of the city is more than 670,000.

Q: When will another license come up for auction?
A: After the issuance of the 25th pawnbroker license, no new licenses will be added until the population of the city reaches 700,000. Thereafter, only one new pawnbroker license may be granted for each population increase of 50,000.

Registration Information

Registration Information

  • Participants must register between 8 and 10:15 a.m. on Oct. 25, 2021. Anyone whose registration has not been completed by 10:30 a.m. will not be able to participate in the bidding.
  • Government-issued ID must be provided by the person bidding.
  • If the person bidding is representing a business entity, such as a Limited Liability Company, Partnership or Corporation, then additional documents will be required. Please refer to the Registration tab for additional requirements.
  • A $10,000 deposit in cash or certified bank check must be presented at the time of registration.
  • This is a privilege business license. Owners must pass a background check to obtain this license.  
Licensing

Licensing

  • The payment in full of the winning bid will function as a one-time origination fee. LVMC 6.60.065
  • Additional application fees will apply.  Minimally, there will be a $100 Application fee; $500 Temporary License Fee
  • The completion of suitability requires a background check completed by the Metropolitan Police Department.  If an individual has recently passed a background check or is already licensed in the City of Las Vegas a waiver maybe requested.  Background check fee $150 per person; Waiver fee $100 per person.  Additional fees may apply such as fingerprinting, etc…
  • In connection with an application for a business license pursuant to LVMC 6.60.065, the winning bidder, whether an individual or an entity, must have an ownership interest of at least ten percent when the license is applied for.  LVMC 6.60.060 (C)
  • No changes may be made in the ownership of the person or entity applying for the license during the process.  Owners other than the winning bidder may be removed, but in no event may the winning bidder’s ownership interest decrease below 10%.  LVMC 6.60.060(D)

Within one year the winning bidder must complete the following LVMC 6.60.065(A):

  1. Apply for a business license
  2. Complete suitability in accordance with LVMC 6.06
  3. Comply with all land use and development requirements
  4. Obtain final licensing

The City Council may grant an extension of time for good cause shown.  LVMC 6.60.065(A)

If the winning bidder or the corresponding license applicant is denied a business license or does not complete the licensing process in accordance with LVMC 6.60.065(A) the amount of the bidder’s deposit on the day of the auction is forfeited. LVMC 6.60.065(B)

Contact Us

Contact Us

For additional information, please email us at License@lasvegasnevada.gov.

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