A pawned item might be sold by the pawnbroker if the loan isn't repaid on time. If I don't repay the pawnbroker in a month, he'll sell my guitar.
Pro Tip 2/3
Not a Bank
A pawnbroker is different from a bank; they offer loans based on collateral, not credit. I went to a pawnbroker instead of a bank since I needed instant cash for my watch.
Pro Tip 3/3
Interest Rates
Pawnbrokers usually charge more interest than banks or formal lenders. The pawnbroker gave me the loan, but the interest rate was quite high.