Edinburgh Asset Finance Offers Loans Against Watches

Edinburgh Asset Finance are specialists in securing loans against watches. Brands such as Breitling, Rolex, Patek Philippe, Cartier and Omega tend to hold their residual value extremely well. They make the perfect asset for the security of a short term loan. In the last two years we have seen a marked increase in the number of watches being loaned against and it is a trend that we expect to continue.

Why use a watch to secure a loan?

So why would you want to loan against your watch? We believe that watches are the perfect asset to use for security on a loan. Luxury timepieces can be seen as a forever purchase and even something that can be passed on as an heirloom. The company making Patek Philippe watches has identified this and use the strapline. ‘You never really own a Patek Philippe watch, you merely look after it for the next generation.’ By buying the right make and model, it is something which can look after you by being used as security for a swift short term loan, should the need ever arise. In the meantime, they are a beautiful asset which can be worn and enjoyed every single day.

What are the advantages of using a watch to secure a loan?

By owning a luxury watch, unlike many other assets, the owner can have certainty that it can be used to quickly and discreetly to raise short-term finance. What are the advantages of using a watch? Watches can hold their value. They can be very easily identified by the lender and it’s title easily proven by the owner. Meaning a loan can normally be secured and in place within hours of making contact with us. The certainty and strength of the second-hand watch market means that a higher loan to value ratio can be applied than other assets. For example, if you purchased a diamond ring and new Rolex watch from a reputable high street jeweller for £6000 each in 2015. If you then brought both items in as security on a loan in 2017, then the value of each might come as a surprise.

How much could I get for each item?

Edinburgh Asset Finance could potentially lend up to £3000 against the watch, but the ring would likely struggle to raise as much as £1000. The demand and desirability for second-hand luxury watches have kept their values high. Conversely, it can be more difficult to sell second-hand jewellery, particularly when high street jewellers apply such high margins to the non-branded goods that they sell.

Why secure loans against watches with Edinburgh Asset Finance?

There are advantages of pawning an asset rather than either selling. Looking for other more mainstream ways of raising finance are now available. If you have something that you prize, or have spent a lot of money buying. As a result of selling it quickly, you will likely get far less than market value therefore, by taking a loan against it instead, funds can be with you same day and you still own that asset. You do not lose your asset and as soon as the loan is repaid the asset is back with you.

What about my credit score?

Loans against watches are also completely invisible and there will be no need to conduct any credit checking or affordability assessments. There will be no record of the loan recorded on your credit history and as a result, there is then no impact on any current or future borrowings. All loans against watches with our company are dealt with in a completely discreet and confidential manner. Customers are only ever seen by appointment. Where requested we can even go to the customer. We offer a discreet, confidential and prompt service.

Case study:

Last year Edinburgh Asset Finance was approached by a lady who wanted to raise some funds for her business due to some financial pressure and she wanted to bring her bills up to date. Our client knew that they were about to come into a busier trading period and was confident that she would be able to repay a loan within 2-3 months.

She had a rare and valuable watch which she had owned for many years. She used the watch as collateral for a loan with Edinburgh Asset Finance.

The loan was in place with a day of her first contact with us and she repaid within the 3 months as she had anticipated.
Her testimonial is below:

“Earlier this year I found myself in a very difficult financial situation which the bank was unwilling to assist with.

With a great deal of trepidation, I contacted Edinburgh Asset Finance. I had no idea what to expect.

I was treated with the utmost respect and there was no need to fear. The transaction was carried out discreetly and quickly. I don’t think I had to ask many if any questions. The whole process was explained very clearly.

The agreed amount was paid by bank transfer. It was in my account instantly upon receipt of my items. After repaying the loan I have collected my items which were kept safely and securely for the duration of the loan period.

“Finally, I would not hesitate to recommend Edinburgh Asset Finance and Neil as they could be the solution you are looking for “.

If you would like to learn more about how Edinburgh Asset Finance can help you.

Please call us on 0131 556 2500 or book a call online.