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.

5 Benefits to Pawn Luxury Items with Pawnbrokers London

Over the last few hundred years, high street pawn shops have evolved significantly and have today become more accessible than ever before. Indeed, many people consider pawn loans as a more sensible and professional method of flexible, short-term borrowing. While they are aware of the real benefits of pawnbroking, people are turning to trustworthy pawnbrokers London to get a collateral loan and raise instant cash. 

For those who have never walked into a high street pawnshop London and opt for a collateral loan before, here we have rounded up six benefits of the services offered by professional pawnbrokers in London. Take a look!

1. Get a pawn loan using your luxury asset

You may have an old piece of gold jewellery or a luxury watch that is stored in a box or drawer most of the time. If you need to raise instant cash to pay for an emergency cost of any kind, you can choose to unlock the value in these items. 

High street pawnbrokers in London or any other big cities lend money in exchange for anything precious that is used as collateral. The amount of credit loan you are likely to receive will depend on the actual value of your collateral. As long as your luxury item holds value and is genuine, a pawnbroker will accept it as collateral for a pawn loan. 

2. No Credit Check

Unlike banks or other traditional lending institutions, pawnbrokers do not carry out any credit check before approving a loan. Whether you have a bad credit history or your credit score is below a specific threshold, your trustworthy pawnbrokers London will lend you money based on the overall value of the asset you leave as collateral.   

Customers are only asked to give proof of Identification and also, sign a pledge receipt as a part of the loan application process. 

3. Short Loan terms

The maximum term of a pawn loan is typically six to seven months. You will have to pay off the full loan amount and the interest due by the end of your loan term. However, a customer can retrieve his/her asset any time within the loan term or soon after the contract ends by repaying the original loan amount and the interest. Thus, if you can pay off your pawn loan earlier than your loan tenure, you will get back your asset sooner.  Overall, pawnbroking loans are easier to manage without becoming an anxiety year in and year out. 

4. Easily Accessible

Pawn loans are indeed easier to access. Whether you want to pawn a luxury watch or get cash for gold, the viable platform of professional pawnbrokers online will help you in pawning assets at your convenience without any hassle. 

On the contrary, you can choose any reliable pawnbrokers London or a trustworthy local pawnbroker and arrange an appointment to visit their office with your asset, carrying out the pawnbroking process in-person. 

Your pawnbroker will immediately assess your item and make a loan offer on the spot. If you accept the offer, you will get paid in cash right away without any obligation. 

5. Flexible Repayments

Your pawnbroker will provide you with a credit agreement to sign (if you agree to go ahead with the transaction) that outlines the amount you have borrowed and what the repayments are. When your contract expires, you will be offered 14days cooling off time within which you have to draw out the agreement and pay the interest for the loan period. 

If you fail to redeem your asset, your pawnbroker may help you to renew your loan. You will be provided with a new contract along with an additional seven months to pay back. You will only have to pay off the interest of your original loan term.