Pawnshop in Panabo Robbed During Auction

Six armed men robbed the Pag-asa Pawnshop in Panabo City during an auction sale on Wednesday. About P5 million worth of jewelries were taken.

Using hammers, the robbers smashed the glass display tables after disarming two security guards, according to

The robbery reportedly took place at around 2:30 p.m. on January 7, 2015.

Panabo Pag-asa Pawnshop Robbery
Image source: Facebook

"The suspects carted away an estimated P5 million worth of jewelry as well as a 9mm pistol and a shotgun from the guards and fled on two motorcycles," Chief Inspector Levitico Estay, the Davao del Norte Police spokesman, told the publication.

Apparently, the robbers also took the personal belongings of some customers.

An undetermined amount of precious gems were allegedly thrown away by the thieves somewhere in the Teachers' Village to divert attention, a netizen from the area posted on Facebook.

Some residents believe that the daytime robbery was well-planned as it happened during the pawnshop's auction.

A police investigation on the incident is underway.