5 Advantages to Pawn your Luxury Assets with Pawnbrokers London

Are you interested in pawn loans but do not understand them entirely? You are not the only one. People who have never utilised the services offered by trustworthy pawnbrokers London are typically unaware of the real benefits of pawnbroking. Although pawnbroking has been portrayed as an unfavourable and expensive way of borrowing cash for decades, today it serves as a significant alternative to all other conventional means to borrow money, not only in London but all over the world. 

If you have never walked into a pawnshop in London or are intrigued to ascertain the reason behind the increasing popularity of pawnbrokers in today’s society, take a look at the following benefits that come with the services provided by reliable pawnbrokers in London or anywhere in the UK.

• Instant Cash

A pawnbroker lends instant cash in exchange for anything valuable that a customer keeps as collateral.  However, the amount of credit loan that your pawnbroker is willing to lend depends on the actual value of the collateral, considering the current market price and other essential factors. Unlike banks or other traditional money lending institutions, high street pawnbrokers provide instant cash loan against a luxury asset without carrying out any credit check.

With trustworthy pawnbrokers London, like at The Luxury Hut, you are likely to receive the highest possible amount of credit loan for your asset and get paid immediately without any obligation. 

• No credit check

Any high street pawnbrokers in London or any other big city will not depend on your credit score to approve a loan. Thus, customers who have a poor or bad credit history can turn to any trusted pawnbrokers with full confidence. Your pawnbroker will lend money based on the actual value of the precious item you use as collateral. You may be only asked to provide proof of identification and sign a credit agreement if only you agree to proceed with the transaction.

• Convenience

Whether you are looking to pawn a diamond ring or want to get a loan against your watch to raise instant cash, you can indeed pawn assets via the viable online platform developed by well-established pawnbrokers in London at your convenience without any hassle. 

Expert evaluators at The Luxury Hut are always on hand to provide its customers with immediate valuation. Begin the process by simply filling up the online form and receive an initial valuation right away. 

• Right to retain your asset

When pawning your asset with pawnbrokers London, you will retain the right to recover your collateral anytime within the loan period or after the contract ends. The maximum loan term is usually six to seven months. You can redeem your asset whenever you wish to, only by paying off the original loan amount and the due interest. 

• Pawn more than one asset at a time

Customers can bring in more than one asset to pawn with a pawnbroker. You can redeem each item kept as collateral on its own or also with other pledge assets, merely by repaying the applicable interest along with the actual loan amount.

A Brief History of High End Pawnshops

The pawnbroking industry that we know today has a long and highly acclaimed history of helping people in financially distressing instances. Although the business model of a typical pawn shop was once misunderstood, today, high-end pawnshops or luxury pawnshops flourished as a significant alternative to other conventional ways of borrowing cash. Indeed, a pawn shop is a convenient and legitimate place to obtain credit loan right away using anything valuable as collateral.

While more and more people are turning to luxury pawn shops to raise instant cash for a short period, trustworthy Hatton Garden pawnbrokers or pawnbrokers Hatton Garden are working to make the process of securing pawn loans more convenient and straightforward. However, the origin of this oldest profession of the world can be traced back to over 3,000years ago when pawn shops turned up first. 

A Brief Account of its Past

According to Chinese records, the practice of procuring loans on belongings dates back to the beginning of the Western Han Dynasty, 206 BC. Chinese pawn shops are known to be significantly more softhearted compared to their contemporary Western counterparts. Borrowers could pay off their loans, taking up to three years and at a considerable three-per cent rate of interest. 

Meantime, while pawnbroking started to flourish in Europe during the Middle Ages, the practice was introduced by Norman Conquest to England.  In northern Italy, the Lombardy region was another seedbed of pawnbroking. Gradually, the term ‘Lombard’ became synonymous with the term ‘pawn shop’, and pawnbroking was popularly known as ‘Lombard Banking’. 

However, the practice of pawnbroking was not entirely smooth throughout Europe. By the 17th century, pawnbrokers had earned a prejudiced reputation as shops for stolen goods. But its image has significantly changed over the past twenty years or so. 

How Do Pawnbrokers Work Today?

The entire process of a typical pawn loan transaction is pretty simple and straightforward. A pawnbroker lends money based on the value the luxury item a customer leave as collateral. A customer brings in an asset and uses it as collateral to secure a cash loan for a relatively short time. The maximum loan tenure is typically for a period of six to seven months. 

When you hand over your collateral to a pawnbroker, he/she will assess it and determine the cash loan amount based on the current value and other essential factors. Unlike a bank or any conventional lending institutions, pawnbrokers neither check the credit score of a customer nor any different facets such as income before approving a loan. 

Hatton Garden pawnbrokers at The Luxury Hut provide entirely transparent, secure and straightforward service, making the pawnbroking process a significant alternative to any other way of borrowing money. If you accept to go ahead with the transaction, The Luxury Hut pawnbrokers Hatton Garden will provide you with a credit agreement to sign that outlines the amount you have borrowed along with your repayments. 

However, customers are entitled to retrieve their asset at any time within the loan period or after the contract expires, paying off the original loan amount and the interest due. Trustworthy pawnbrokers in Hatton Garden or anywhere in the UK usually offer 14days cooling off time to draw out the agreement. However, if a customer fails to retrieve his/her collateral within the time above, Hatton Garden pawnbrokers at The Luxury Hut can help you to renew the loan. Otherwise, they may sell your item for recovering the debt or cash. 

The Luxury Hut pawnbrokers in Hatton Garden always work to make the pawnbroking process easier and more comfortable for its valued customers. Thus, customers who are looking to obtain a pawnbroking loan can call on 0207 242 5411 and arrange an appointment to visit our Hatton Garden office in London with your asset.

Pawnbroking Today: A Safer & More Viable Option to Get Instant Access to your Asset

The world of pawnbroking has changed significantly over the years. Today, pawn loans are recognised as a more secure and viable option of borrowing than it was ever before. While pawn shops turned up over 3,000years ago, pawnbrokers had gained itself a prejudiced reputation in the past. For decades, the industry has been negatively portrayed in media, considering it as an unfavourable and expensive way to borrow money. However, its image has significantly altered over the last twenty years or so. 

Indeed, today more and more people are turning to high street pawnbrokers London or ‘pawnbrokers near me’ to avail of short-term loans or sell luxury assets and raise instant cash. Consequently, trustworthy pawnbrokers in London or any other big city are working to make the process of pawnbroking simpler, more straightforward and convenient. 

Unlike any other loan types, it is more comfortable and more secure to take out a pawn loan from high street ‘pawn shops London’. 

Three Basic Things You Need to Apply for a Pawn Loan

While there may be many ways to turn up some quick cash, a pawnbroking loan is ideally the best option to raise some money immediately with affecting one’s credit score. With a pawn loan, you can get instant access to money in exchange for anything precious such as a diamond ring or a Rolex watch pawned with your pawnbrokers London. 

For those who are looking to apply for a pawn loan, here are three basic things that you would need to get your loan approved:

The Legal Owner of the Item

A pawn loan cannot be typically applied on behalf of anyone else. If you are the legal owner of the asset you are looking to borrow against, make sure that you are present during the application process.

Proof of Identification

Although a pawnbroker typically lends money based on the actual value of the asset you leave as collateral, customers are only asked to provide proof of Identification to go ahead with the transaction. This standard procedure helps high street pawnbrokers in London or anywhere in the UK to protect them as well as their customers from fraud or financial crime.

A precious asset to pawn

If you want to take out a pawn loan, you have to bring anything valuable to keep as collateral. Although the items accepted as collateral usually vary from one pawnbroker to another, some assets such as luxury watches, diamond and gold jewellery are more commonly pawned and also, universally accepted. However, you can pawn more one item at once with trustworthy pawnbrokers London or ‘pawnbrokers near me’. 

How does pawnbroking work?

When you visit a pawnshop in London to take out a loan, the pawnbroker will inspect your asset precisely and determine its actual value based on its condition, current market price and other relevant factors. He/she will provide you with a cash loan offer right away for a particular term and of course, without carrying out any credit checks. The maximum tenure of pawnbroking loans is usually six to seven months. 

If you accept your loan offer, your pawnbroker will give you a credit agreement to sign that outlines the amount you have borrowed and what the repayments are. Once you sign it, you will receive a pledge receipt as a part of the deal. Here is the best part:

You are entitled to retrieve your collateral at any time within your loan term or after the term expires by paying off your original loan amount and the interest due. However, during your loan term, your asset will be stored in specialised holding vaults that are entirely insured and safe. 

Trustworthy pawnbrokers London usually offer 14days cooling off time to come in after your contract expires and draw out the agreement, paying off the interest for the loan period and retrieving your asset. If you fail to redeem your asset within the time mentioned above, your pawnbroker will either choose to sell your collateral to recover the cash or, may help you in renewing your loan.

You can acquire a new contract and an additional seven months to pay back, by repaying the interest of your original loan term. 

Make the most out of your assets

If you are looking to raise fast cash but have a poor credit history, simply get in touch with your trustworthy local pawnbroker today. Unlike banks or other traditional lending institutions, high street pawnbrokers in Hatton Garden or pawnbrokers London do not depend on their customers’ credit score to approve a loan. 

Your pawnbroker will examine your collateral and offer you a loan based on the item’s actual value. Moreover, you can pawn the same item again and again. But, while the value of some assets especially of precious metals like gold often fluctuates over time, you may not be offered the same credit loan amount every time you pawn it with pawnbrokers in London or anywhere in the UK.

London Pawnbrokers: A Brief Account of its Past and Present

Pawnbroking may not be known as the oldest profession of the world, but its origin can be traced back to more than 3,000 years ago when pawn shops first turned up. Pawnbrokers used to provide credit to the peasants while being supervised by Imperial authorities.

Pawn shops were famous in ancient Greece and Rome. While small merchants used a pawn loan to begin their businesses during the Middle Ages, the Catholic Church imposed restrictions on charging interests for pawn loans. This eventually hindered the growth of pawn shops. However, with the increase in demand for such kind of credit in 14th and 15 century, the constraints loosened....Read More

Pawn Your Rolex and Get a Quick Loan

During your short-term financial needs, you may decide to pawn your Rolex watch to raise some quick cash, securing a safety pawn loan from any trustworthy pawnbrokers Hatton Garden. While more and more individuals today are turning to pawnbrokers for acquiring an instant loan, high street pawnbrokers are monitoring and working to make the pawnbroking process faster, more secure and straightforward.

Rolex is universally recognised and by far, the most coveted brand both in the retail as well as the second hand market. Pawning a Rolex watch is an easier way to raise money when short of cash as most luxury watches retain their value well over the time. Although the higher demand depicts that getting a loan against your Rolex timepiece can be more convenient than pawning other fine watches, the real deal still lies in choosing a professional and trustworthy pawnbroker who understands the monetary significance of luxury timepieces like Rolex....Read More

How to Increase the Value of Your Luxury Watch?

A luxury watch works more than merely a way to keep track of time. Luxury watches of prestigious brands like Rolex are built to last for years, retaining their value well in the resale market. However, a luxury watch requires the right attention and proper care. Although it may not guarantee that the timepiece will retain or appreciate its value, you are likely to receive a higher credit amount when pawning your watch with trustworthy pawnbrokers London or ‘pawnbrokers near me’. 

Here are a few tips that will help you to maximise or hold the value of your luxury watch. Have a look!

Keep your watch in its best condition

It is prime-requisite to keep a luxury watch in pristine condition to make sure that it keeps hold of its maximum value. The condition of your timepiece will play a significant role in determining the final amount of credit loan that professional pawnbrokers London are willing to lend against it. However, any damages, no matter how small, may influence your watch’s value. 

If you want to keep your watch in good condition, it is better that you take off your watch during activities where it could get damaged. Moreover, keep it in a secure and safe place when you are not wearing it. 

Avoid polishing your luxury watch

Many inexperienced luxury watch owners often choose to polish their timepiece for maintaining its shine. However, it is always recommended to avoid polishing a luxury watch. While you may think that polishing can protect your watch from regular contact with fingers, sleeves, perspiration or effects of humidity, it may do more harm to your watch than good.

If you polish a luxury watch without taking any proper precautions, it can cause microscopic scratches and damages. Cleaning a timepiece properly needs an ultrasonic bath as well as meticulous degreasing on a material that can’t create any scratches. 

Keep all the documents

The original box and papers that came with your watch at the time of purchase will prove its authenticity. A luxury timepiece that retains its original box and documents always fetch a higher amount of credit than the one that does not have it. Thus, it is essential to make sure that your watch’s box and all supporting documentation is kept secure, safe and in excellent condition.  

Service your watch regularly

A luxury watch needs regular maintenance and service to ensure it holds its value. While these watches are designed and manufactured using top-notch components and expertise, a luxury watch also needs utmost care and attention to keep it in good condition. Although the suggested interval between services varies from one manufacturer to another, most brands typically recommend servicing every three to five years. 

However, if you want to maximise your timepiece’s value, get it serviced every two years. During servicing, the watch components are taken apart and cleaned delicately. The parts that exhibit the signs of wear and tear are replaced before they are oiled as well as reassembled. Besides, a watch is tested to make sure that it is functioning like a brand-new condition. 

If your watch is correctly taken care of and serviced regularly, it is likely to keep hold of its value or even appreciate with time. Eventually, you can choose to pawn your watch with trustworthy pawnbrokers in London or ‘pawnbrokers near me’ with full confidence and obtain the highest amount of credit loan against it.

Get Loan Against Watches – Which Watch Brands Retain Their Value Best?

Luxury watches from elite brands like Rolex, Breitling, Patek Philippe and many others not only represent an excellent asset to wear regularly but also a valuable item to use as collateral for a cash loan. The fact is that a luxury watch holds their value well with time due to their reputation, excellent artistry, design and exclusivity. Although every brand has its unique features and identity, there are indeed many factors that typically influence a watch’s value. Today, let’s have a brief look at five of the well-known brands (to name a few) that trustworthy pawnbrokers in London or pawnbrokers Hatton Garden look for or covet.

1. ROLEX

Rolex watches are renowned and coveted because they keep hold of excellent value with time. The Rolex Daytona, Rolex Day-Date, Rolex GMT-Master and Rolex Submariner are some of the highly sought-after models. However, if you even have a Rolex watch that is no longer in production, it is also likely to fetch you a higher value when pawning it with trustworthy pawnbrokers in London or ‘pawnbrokers near me’. 

Some Rolex watches also have an association with celebrity and this eventually, increases their value. For example, the rare Paul Newman Daytona broke all previous records for luxury watches, fetching £13.8 million in 2017. 

2. BREITLING

Breitling has close associations with the aviation industry, known popularly as the pilot’s watch of choice. The watches of this brand consist of many advanced technological features. In December 2018, a Breitling Navitimer model went for £21,000, illustrating the brand’s endless appeal and desirability. 

3. CARTIER

Cartier is one of the world’s popular luxury watch brands. If you own a Cartier watch, you are indeed fortunate. This is because you have a valuable item that you can use as collateral to get a high-value pawn loan from Hatton Garden pawnbrokers or pawnbrokers in London. However, both vintage and contemporary Cartier watches are coveted and do well at auction. 

4. CHOPARD

This well-established and sophisticated brand is famous for its watches with a modern yet classic look, along with unique touches. Chopard boasts many show-stopping watches, such as the 28mm Imperiale Quartz ladies wristwatch. The timepiece is fabricated from 18ct white gold and set with pave diamonds. 

People who are the owner of this model or any other Chopard watches are indeed in possession of a valuable asset. If you are looking to opt for a pawn loan from professional pawnbrokers London, you can use your Chopard watch as collateral for it and obtain a higher credit loan amount. 

5. IWC

IWC might be a lesser known brand in comparison to high profile brands like Rolex, but the manufacturer has never disappointed its admirers or collectors with their exclusive collection of luxury watches. IWC watches are associated primarily with adventure and sport. One of the brand’s iconic models is namely the Portugieser Chronograph. The watch’s unusually large face and clean dial are similar to the 1930s. While these watches were made in only small numbers and yet today invoke up a feeling of exclusivity, the IWC Portugieser Chronograph remains highly desirable. 

If you want to avail of a credit loan against your classic watch, get in touch with the most trustworthy ‘pawnbrokers near me’. The pawnbroker will assess the value of your watch carefully by considering its age, condition, rarity and other essential aspects and determine the amount of credit loan he/she is willing to lend for it. 

Thus, whether you choose ‘pawnbrokers Hatton Garden’ or pawnbrokers in London to take out a pawn loan, make sure to bring in all original documentation (if any) of your watch like service history, box, and certificate of authenticity.