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

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.

4 Common Questions People Ask About Pawnbrokers London

Can I Get A Loan From Pawnbrokers Near Me?

Pawnbroking is one of the oldest and popular ways of borrowing cash. While this industry underwent enormous changes over the past twenty years, people today tend to rely more on trustworthy local pawnbrokers than any other traditional money-lending institutions to get an instant loan. Indeed, professional pawnbrokers are working to make the process of borrowing money more convenient and straightforward. 

Thus, if you want to turn up fast cash, get in touch with any trustworthy ‘pawnbrokers near me’ and get a pawn loan without any obligation and hassle. 

How do pawn shops in London work?  

The origin of pawn shops can be traced back to nearly 3,000years. The practice of borrowing money was prevalent among the peasants. However, pawn shops in London or any other big cities today serve as a significant alternative to any other conventional ways of acquiring credit. A pawn shop is a legitimate and convenient place to obtain a credit loan, leaving any valuable assets as collateral. Your pawnbroker will provide you with a pawn loan without carrying out any credit check. 

When you walk into your local pawn shop, your pawnbroker will assess your asset precisely and determine the amount of credit loan he/she is willing to offer, based on the current market value and other essential aspects of the asset. If you are satisfied with your offer, your pawnbroker will provide you with a credit agreement to sign. Your collateral will be kept securely in insured vaults until you recoup it paying off the loan amount and the interest due. 

How do pawnbrokers London value items?

Trustworthy pawnbrokers in London or anywhere in the UK provide a cash loan offer based on the overall value of the asset you leave as collateral. Whether you want to obtain a loan against a second hand Rolex watch or a diamond ring, your pawnbroker will examine your item with utmost precision, care and attention. 

Professional pawnbrokers London typically perform many tests to establish an item’s nature, weight or inspect it for blemishes, scratches or any other damages. Considering all these essential factors along with the current market price, your pawnbroker will provide you with the final cash loan offer. 

What things do London pawnbrokers want from you?

Generally, pawnbrokers accept a luxury asset as collateral for a pawn loan. However, a pawnbroker is more interested in taking anything valuable that he/she can sell when necessary to recover the debt. 

The assets accepted as collateral for a pawn loan may vary from one pawnbroker to another. But, some precious items are considered worldwide. While jewellery is one of the most popular items to use as a pledge, you can also choose to pawn luxury watches, loose diamonds, gemstones and precious metals with trustworthy London pawnbrokers or at any high street pawn shops near you.