Beverly Hills, California - An original Kandinsky, an Andy Warhol, a grand piano and Rolexes by the dozen: as the economic crisis bites, even the filthy rich are hocking prized possessions to pay the bills.

'This business in the past eight months is booming,' said Yossi Dina, the president of The Dina Collection, who describes himself as the pawnbroker to the stars.

'I'm very special because I don't give small loans. I give big loans, people call me for half a million, two hundred, big loans. I've invested and I give the money out,' he said.

Across the wealthy Beverly Hills enclave, dotted with the luxurious mansions of the nation's rich and famous, pawnshop owners say they haven't had it so good for decades.

'We are living a big time, the business people, the big people - they need money for short time, they're business people, but short of cash,' said Mr Dina, a former commando in the Israeli army who arrived in the US in the late 1970s.

'Recently I got a Kandinsky, an original Andy Warhol, a lot of California art, even a piece for one million dollars,' he said, standing by a display case stuffed with 15 Rolexes and a Patek Philippe watch priced at US$160,000.

Peter B, manager of The Collateral Lender, who asked not to give his full name, agreed he was cashing in as everyone seeks to liberate much-needed funds.

'We get everybody right now, doctors, professionals that can't pay their car bills, health care bills or their mortgages and that is a big difference with the past years,' he told AFP.

'Some of them came here to get money to pay their credit cards. To me this is something new, bad and I have 20 years in this business.'

The most valuable items are not kept on display, but hidden away from prying eyes in the hope the owners will eventually come to redeem them.

Growing numbers of people are turning to the pawnshops as banks cut off funds amid the credit squeeze, and they rely on businesses in this upscale neighbourhood to remain discreet.

Hearing that a journalist was interviewing the owner of one store, some women hiding behind their designer sunglasses decided not to get out of their luxury cars, but to come back another day.

Under California law, pawnshops can hold onto the goods for four months and 10 days, after which the owners must redeem them by repaying the loan, or can arrange for the goods to be held for another four months at a monthly average 4.0 per cent interest rate.

'We say that the ideal client is one who hocks a diamond ring, redeems it by paying back the loan amount and interest, and then hocks it again,' said Peter B.

'We want them to get their valuables back, but yes, I can say that right now we have lots of goods.'

In his store, a concert piano valued at US$400,000 is tucked between two Harley Davidson motorbikes.

Someone even tried to hand over an Oscar to Mr Dina, but he had to refuse as the Academy of Motion Picture Arts and Sciences has strict rules on selling the famous stauettes. He did take the same person's Golden Globe though.

The National Pawnbrokers' Association has urged members to be attuned to the economic crisis.

'In today's diverse society, many people depend on pawnbrokers to help them meet those daily financial needs not met by other financial institutions,' it said in a recent statement.

'Our customers represent the working families of America who have an unexpected need for short-term cash.

Pawn loans keep the electricity on, the rent paid, and cars working and full of petrol.'

Beverly Hills has long been the symbol of fabulous wealth, but it no longer is insulated from the country's economic woes.

California's unemployment rate stands at 10.1 per cent, higher than the national average of 8.1 per cent, and with mortgage costs rising many may now have no option but to hand over that Kandinsky or Rolex to pay the rent.