Tag: pawnbrokers london

Top 5 Most Expensive Watches Ever Produced by Rolex

rolex pawn

Rolex is indeed synonymous with luxury, quality, class and also, a brand to aspire to for many collectors. Since its inception decades ago, this Geneva-based Swiss brand continues to possess the same appeal today. Interestingly enough, Rolex takes up some of the highest positions for the most expensive timepieces in the history of watchmaking.

Today, we have come up with a list of the five most expensive Rolex watches ever made by the brand, based on their valuation or sale price. Have a look!

1. Rolex Paul Newman Cosmograph Daytona

The Paul Newman Rolex Daytona may look relatively standard to the untrained eyes. However, the eye-catching Daytona that belongs to the iconic actor Paul Newman is supposedly the most valuable watch the brand has ever created. While Paul Newman wore the timepiece every day, it is often referred to as the ‘Paul Newman’ Rolex Daytona.

In 2017, the Paul Newman Rolex Cosmograph Daytona watch was sold at auction for an astronomical price of about £14.4 million.

Want to raise instant cash? Pawn your Rolex watch today with the trustworthy pawnbrokers London.

2. Rolex Bao Dai

The Rolex Bao Dai is one-of-a-kind Rolex watch, owned once by Bao Dai – the final emperor of Vietnam. And, when it comes to royalty, Rolex watches always command an astounding price. However, the watch was made from 18ct yellow gold and featured a black dial along with diamond markers. You can merely predict the value of this watch from its appearance.

This exquisite gold Rolex sold for nearly £4.04 million at auction a few years ago, making it the second-costliest timepiece ever produced by Rolex.

3. Rolex Antimagnetique

The Rolex Antimagnetique portrays the old world of horology whose value has sprouted over time. The watch was produced only 12times, and the manufacturer had never released it to the wider public. However, Rolex is known to have gifted the watch exclusively to racers and drivers in 1942.

This elegant and classic example of old-world Rolex sold for an eye-watering £2.03 million in 2016. While there is only a dozen of this watch in the market, it seems that the Rolex Antimagnetique watch’s value will increase with time.

pawnbroking

4. Eric Clapton’s Rolex Cosmograph Daytona Albino

Introduced in 1971, the Cosmograph Daytona Oyster Albino is a classic and sophisticated watch in its way. However, it is another beautiful Rolex timepiece that became extremely famous for its noteworthy owner, Eric Clapton. This Cosmograph Daytona was one of the four with unique silver chronograph totalizers, featuring a classic silver and black design. This led to the Oyster Albino colourway.

Eric Clapton’s Cosmograph Daytona Albino sold at auction for £1.13 million in 2015.

5. Rolex GMT-Master II Ice

Created in 2014, the Rolex GMT-Master II Ice is made from white gold, embellished with sparkling diamonds on every inch. Extremely luxurious, alluring and plopping with diamonds, there is ideally nothing overnice about this magnificent watch. When it comes to staggering luxury, only a few timepieces can pretty match up to the Rolex GMT-Master II Ice.

Whatever Rolex watch you consider to be the most expensive in any way, we cannot deny that something is charming about each Rolex model mentioned above.

However, for those who are looking to get a loan against Rolex watches, get in touch with any trustworthy London pawnbrokers like at The Luxury Hut. With professional pawnbrokers London at The Luxury Hut, you are likely to obtain the best possible amount of credit loan based on the actual value of your luxury watch.

A Brief History of Pawnbrokers in London

The origin of pawnbroking can be traced back to thousands of years when pawn shops first turned up. And, lending cash against assets has been a practice in many ancient countries like China, Greece and Europe. While more and more people today prefer this convenient high street way to raise cash for a short period, trustworthy pawnbrokers London are working to make the pawnbroking process more secure, transparent and straightforward.

However, pawnbroking in Europe started to flourish during the Middle Ages. The practise of pawnbroking was introduced in England by Norman Conquest. While the first bank of England indeed established ‘pawnshops’ in 1695 with a specific interest rate, it helped the poor who had no legal protection at that time. Moreover, the Lombardy region of northern Italy was another seedbed of pawnbroking, and gradually, the term ‘Lombard’ became synonymous with the term ‘pawn shop’.

Pawnbrokers Licence Law of 1785

The Pawnbrokers Act of 1785 licenced the pawnbrokers for £10 in London and £5 for the country that was indeed a staggering sum at that time. This ensured that London pawnbrokers were heavily regulated and abided by specific rules. However, the rate of interest was set at 0.5% per month, and the maximum loan term was confined to one year. As per the law, pawnbrokers could be fined twice the worth of an item for not returning it after the payment was made.

The Pawnbrokers Act of 1800

Lord Eldon introduced this act that became quite popular among pawnbrokers because it increased the interest rate up to 1.5%. The licence fee was also increased to £15. However, the legislation was revised three times, and a new act of 1872 replaced it finally. In fact, pawnbroking served as the only convenient means of obtaining a loan for the poor during this time.

Pawnbrokers Act, 1872

The Pawnbrokers Act of 1872 introduced many rules that are yet in force today. Individuals under 12years of age or drunk were denied a pawn loan. Licenced pawnbrokers London were required to engrave the word ‘pawnbroker’ above their shop’s doorway.

Pawnbroking became highly popular because of the industrial revolution, creating a new base of the working class. However, it continued to stay popular until after World War II.

The Process of Pawnbroking Today

Although pawnbrokers once earned itself a prejudiced reputation in the past, their image has significantly changed over the last twenty years or so. Indeed, the upsurge in the pawnbroking industry came during the credit boom in the 1980s. However, things for London pawnbrokers today are not much different from what they were in the Victorian period.

Indeed, all pawnbrokers in London are now heavily regulated and required to acquire a licence to trade from the Financial Conduct Authority. London is the early home of luxury watches and fine jewellery. And, the famous street such as Hatton Garden is the home to nearly more than 300 diamond and jewellery trading business.

Trustworthy pawnbrokers in Hatton Garden, like at The Luxury Hut provide discreet and transparent pawnbroking service and an instant asset-based loan against watches, jewellery, diamond and gold. Whether you are looking to pawn your luxury watch or get a loan against a diamond ring, get in touch with the reliable pawnbrokers Hatton Garden or your local trustworthy ‘pawnbrokers near me’ and receive an instant cash loan offer without any obligation and credit check.

Why Should You Not Open a Watch Yourself?

Many people tend to open their luxury watches themselves usually for two reasons. One is, to change the quartz battery or assess any water damage, second, to check out the serial or model number of the watch. Regardless of any reason, you may have for opening a timepiece; the asset can be exposed to unnecessary damage and expensive repairs.

Thus, the popular question that many luxury watch owners often ask is ‘Should I open a watch myself?’ or ‘Will opening a watch myself depreciate its value?’

While watch experts do not recommend opening a luxury timepiece yourself, the straightforward answer to the above question is you should not open your watch yourself as it is likely to depreciate its value.

A luxury watch should be indeed only be operated on by a specialist watchmaker or professional pawnbrokers London. Why? This is because they possess the necessary experience, knowledge and more significantly, the right equipment to disassemble, reassemble as well as repair a watch.

OPENING A WATCH CAN LEAD TO SIGNIFICANT DAMAGES

The sturdy construction, expensive components and intricate complications enable a luxury watch to last for a lifetime. Indeed, a luxury watch requires proper care as well as regular servicing to let them retain its value as much as possible. Eventually, like many others, you can use your watch as collateral and take out a pawn loan from trustworthy pawnbrokers in London or ‘pawnbrokers near me’ during short-term financial needs. You are likely to obtain a higher amount of credit loan for a luxury watch in good working condition.

However, while luxury timepieces attain outstanding durability and reliability through their brilliant craftsmanship, the high-quality materials used in designing their case contribute a lot to their sustainability. The watch cases are durably constructed to prevent the movement from any intervention of dust, moisture and other unnecessary particles.

Most luxury watchmakers purposefully design their watchcases in such a way that only a skilled hand with the specialised tool can open it, thereby preventing unauthorised openings. However, once you open your watch, it needs to be appropriately sealed again, and only a watch professional with the necessary skills and tools can do it correctly.

Otherwise, your timepiece will get exposed to moisture and dust. Keep in mind that a single drop of water in the movement can cause significant damages. Moreover, you are likely to break your watch’s warranty once you open it. Many watch cases come with moisture sealing stoppers that are specific to every watch model. These gaskets need replacement every time you open the watch.

However, while opening and closing a case, you may even dent or scratch the bezel, case, crystal or crown. All these aspects can significantly influence your watch’s actual value. If you opt for a pawn loan using this watch as collateral, your trusted local ‘pawnbrokers near me’ or professional pawnbrokers London may take into consideration all these factors before determining the final credit loan amount they are willing to lend against your asset.

WHY SHOULD A WATCH PROFESSIONAL ONLY OPEN A WATCH?

Professional watchmakers, watch dealers and experienced pawnbrokers in London or any other big city have the requisite experience, skills as well as proper tools to repair, disassemble and reassemble any luxury watches. They meticulously examine all essential aspects of a watch like its bracelet, crystal and movement while servicing. A luxury watch requires servicing every five to ten years to ensure optimal performance and accuracy for many years to come.

The watch professional will disassemble the movement, inspect every component for wear and tear and also, replace the old parts with original components (if necessary). Each component is cleaned ultrasonically, and the movement is greased to reduce friction and damage.

BEST WAYS TO MAINTAIN THE VALUE OF YOUR WATCH

Here are some quick tips for retaining and also, to appreciate your watch’s value:

  • Store the watch securely when you are not wearing it
  • Have your watch serviced every five to ten years and keep its service receipts
  • Keep the original box and papers of your watch in good condition as it will verify your asset’s authenticity.

For those who are wondering ‘what is the value of my pre-owned watch?’ Get in touch with your trustworthy local ‘pawnbrokers near me’ or pawnbrokers London like at The Luxury Hut. Professional pawnbrokers have years of experience and rich knowledge of the second hand luxury watch industry. To get started, fill up their online form and get a fair price quote for your watch.

How Can I Get A Loan From Pawnbrokers Near Me?

Typical high street pawn shops have considerably evolved over the last few hundred years. Although pawnbroking is one of the oldest and popular ways of borrowing cash, it has today become more professional and accessible than ever before. More and more people are recognising pawn loans as a more flexible method of borrowing and eventually, are turning to trustworthy ‘pawnbrokers near me’ or pawnbrokers in London.

If you are looking to take out a pawn loan to turn up some fast cash, continue reading below to find out how you can get a loan without any hassle from ‘pawnbrokers near me’.

  • Find an asset to pawn

The first and foremost thing to consider when opting for a pawn loan is finding an asset to pawn. A pawnbroking loan is a secure and convenient way to raise instant cash, using anything valuable you own as collateral. Although the assets accepted as collateral typically vary from one pawnbroker to another, any jewellery items that hold value like a gold ring and a diamond necklace, gemstones and luxury watches are universally accepted.

Whether it is an antique ring or a vintage watch, you can choose to pawn any antique or vintage jewellery items with your trustworthy local ‘pawnbrokers near me’. Ideally, as long as your asset holds value and is authenticated, your pawnbroker will accept it as collateral and make you a credit loan offer.

  • Choose a trustworthy pawnbroker

Now that you have selected the asset(s) you want to pawn, it’s the time to choose reliable pawnbrokers near you to ensure you are getting the best possible deal. Take a few minutes and search online for professional and trusted pawnbrokers in London or any other big cities. When choosing the right pawnbroker to get a loan, it is essential to check whether the FCA or Financial Conduct Authority regulate them. All high street pawnbrokers in the UK are required to obtain a license to trade from FCA.

  • Get a valuation

Well-established and professional pawnbrokers are today working to make the process of borrowing money more straightforward and convenient. Simply fill up the online form of the pawnbroker you have chosen to deal with, providing all details about your asset as much as you can. You will receive a price quote shortly. You can then decide to arrange an appointment to visit the office of your respective pawnbroker for a more detailed valuation. Or, carry out the transaction online, sending your asset and its relevant documents (if any) via a secure and insured delivery envelope that you may be provided.

  • Accept your loan offer

Your pawnbroker will assess your item precisely and make you a credit loan offer. Although you bear the right to accept or decline your offer at this point, make sure that you are taking the right decision. Before you proceed, take a minute and discuss the loan terms with your pawnbroker, go through the terms and conditions (especially, if applying online), so that you can apprehend what you are offered.

If you are satisfied with your given valuation and want to proceed, sign on the credit agreement that outlines the amount you have borrowed and your repayments. You will receive your cash immediately via your preferred method of payment. Thus, for those who are looking to turn up fast cash, get in touch with your trustworthy ‘pawnbrokers near me’ and take out a pawn loan without any obligation and hassle.

Should I opt for a pawn loan to travel from pawnbrokers near me?

pawnbrokers near me

Everyone in an ideal world desires to have enough cash to travel. However, in reality, it is not always possible. Our world has so many popular and beautiful travel destinations that fascinate many ardent travellers, but many such destinations are too expensive to visit. You will likely need to pay for lodging, airfare, other transportation costs like trains and taxis, foods and many other activities. Overall, all these expenses make travelling a privilege at the end of the day, and many cannot afford it without any external help. Not surprisingly, for many aspiring travellers, the best option to meet the travel costs is ideally taking out a pawn loan, keeping anything valuable as collateral to a pawnbroker. Thus, if you are wondering ‘Should I take out a pawn loan from pawnbrokers near me?’ here is your answer:

For those who are determined to chase their wanderlust, simply get in touch with a trustworthy local pawnbroker near you or anywhere in London and opt for a collateral loan.

However, if you are considering taking out a pawnbroking loan, make sure you have understood the following things:

What is a Pawnbroking loan?

If you are entirely new to this term ‘pawnbroking loan’, you may wonder what a pawn loan exactly is.

  • A pawn loan is indeed a legitimate and secure way to raise instant cash by leaving anything valuable you own as collateral.
  • However, the assets accepted as collateral typically vary from one pawnbroker to another.
  • But, some items such as luxury watches, gold, diamonds and other precious metals are accepted almost universally.

The amount of credit loan you are likely to obtain will depend on the value of your pledged asset.

  • Your pawnbroker will evaluate many essential aspects of your asset and also, its current market price to determine the final credit amount that he/she is willing to lend.
  • Whether you want to raise money to fund your entire travel expenses or only to finance the tickets of sightseeing or transportation, a pawn loan is likely to be more accessible and convenient than any other alternative options for quick cash.

What are the benefits of a pawn loan?

Once you walk into your local pawn shop, the pawnbroker will assess your asset and make an offer according to the item’s value.

  • If you accept it, your pawnbroker will pay you immediately without any obligation or without checking your credit history.
  • The maximum loan term is usually six to seven months.
  • As with any collateral loan, you are entitled to retrieve your pledged item any time within the loan period or after the contract expires, paying off the original loan amount and the interest due.

A pawn loan may not offer you any additional benefits like rewards points, travel vouchers or others. However, the rate of interest charged by high street pawnbrokers London is a lot less in comparison to a credit card or payday loan.

What if I fail to pay back the money I borrowed?

Pawnbroking loans are enticing to many passionate travellers because they are readily accessible and provide cash right away. As already mentioned above, one of the significant advantages of taking out a pawn loan is that you can retrieve your asset whenever you wish to or soon after the term ends.

But if you fail to redeem your pledge, you pawnbroker can do two things:

One, sell your asset to recover the debt. And,

Second, he/she may help you to renew the loan, without hurting your credit score. You will get a new contract with an additional seven months to pay back, by repaying only the interest of the original loan term.

How to choose the right pawnbrokers near me?

Before you finally head out to opt for a pawn loan, take some minutes to do substantial research on some of the leading ‘pawnbrokers near me’ in London or anywhere in the UK.

So, if you are planning for an incredible holiday, go ahead! Don’t let your poor finances stop you from pursuing your wanderlust. If you need to raise quick money, take out a pawn loan from your trustworthy local pawnbroker right now. However, it is better to travel within your means and retrieve your asset, paying off the credit loan as soon as possible.

Should I Sell My Jewellery to a Pawnbroker?

sell your jewellery

Many of us had experienced an unanticipated time in our lives when we required some money at short notice for different reasons. While there are many ways to raise some extra cash, people in today’s society realise the benefits of using the more convenient services rendered by a pawnbroker to get money.

Like many others, you may have some jewellery items that you loved once but for whatever reasons you no longer need or want them. You may have your Grandma’s vintage diamond ring that you never actually wore, while others may have some gold necklaces and bracelets that are out of style or broken. Whatever may be your cause, selling jewellery straight away and acquiring cash in exchange for them often appears to be the most convenient thing to do rather than enabling them to sit around your house and collect dirt.

But when it comes to choosing the most straightforward way you can avail when selling your jewellery, you may wonder:

‘Is selling jewellery to a pawnbroker the best option for me?’

If you are having a tough time deciding whether it is better to sell your jewellery to any high street pawnbroker in London or walk into a local jewellery shop, have a look at the benefits to sell jewellery at a pawn shop, be it is online or via appointment to get the most out of your time as well as your valuables.

  • Flexibility

While most of the jewellery shops look for jewellery items that are in mint condition, pawnbrokers serve as a more flexible option when it comes to obtaining cash for gold or selling diamond jewellery. Although many essential aspects are taken into consideration like the condition, age, weight and many others to determine the actual value, a trustworthy local pawnbroker always aims to provide its customers with the best market price, often based on the inherent value of a jewellery item.

Whether you want to sell a vintage gold ring that is in poor condition or sell your engagement ring of a designer collection, you can sell your jewellery securely and straightforwardly to an experienced and reliable pawnbroker, obtaining the highest value possible for your asset. Many high street pawnbrokers in London offer a viable online platform to sell jewellery quickly and more comfortably from anywhere all over the UK.

  • Value

A professional pawnbroker continually monitors the ever-changing market prices of the precious metals like gold and platinum; thereby evaluating a buying price accordingly that may be more than the value a high street jewellery shop offers.

As with any jewellery item, the final price of your asset that your pawnbroker is willing to provide will be based on the value of the precious metal and gemstones like diamonds, emeralds or rubies (if any), regardless of its age or style.

  • Fast transactions

When in dire need of quick cash, it may often feel embarrassing to wait for a jeweller to examine and evaluate an asset, carrying out surprisingly a slow process. Although a pawnbroker assesses every factor precisely to determine an accurate value, you can receive a price quote in less than no time by directly calling or filling up an online form.

With a reliable high street pawnbroker, you can rest assured to carry out transactions of any size quickly and securely both online and visiting the premises (by appointment). Once you agree to the final offer, your pawnbroker will pay you right away.

A Comprehensive Guide to Reclaim Your Pawned Asset from a Pawnbroker

Comprehensive Guide to Reclaim Your Pawned Asset

When people get desirous of fast cash to bring home the bacon, they often resort to pawning anything valuable like a Rolex watch or even Grandmother’s wedding ring with a pawnbroker. The old way of pawning personal luxury assets to get money quick continues to be on the uptick in today’s society, and more people recognise the benefits of the services rendered by a pawnbroker.

Ideally, a pawn loan is a convenient and legitimate way to raise money when in a bind. Without the need to lose your asset and mess with your credit, you can acquire the cash you need on the spot, leaving anything valuable you own as collateral. You retain the right to retrieve your asset within your contract tenure or after the term ends, paying off the original loan amount and the due interest.

While a pawnbroker provides you with the opportunity to retrieve your valuables whenever you want, one may wonder:

‘What happens if you do not come in to redeem your item?’

Although the terms and conditions of a pawn loan may vary from one pawnbroker to another, there are some basic rules and regulations that any trustworthy local pawnbrokers in London follow regarding the loan procedures and retrieving the pledge in time.

Know your options

When in dire need of cash, many people walk into a pawn shop to use their luxury item as collateral for a pawn loan. A pawnbroker evaluates every detail of the asset precisely and comes up with an accurate valuation according to its current market price. While a pawnbroker does not carry out any credit check when approving a loan, he/she may only ask for a valid proof of ID to get into an agreement

The maximum loan tenure is usually six to seven months, and the borrower has to repay the original loan amount along with interest to get back their item. But, in instances, when you are unable to draw out your agreement within time, this guide may help you significantly to reclaim your asset:

  Know about the loan terms beforehand

Although a pawnbroker often serves as a more convenient and reliable way to get instant cash for meeting short-term financial needs, it is pre-requisite for an individual who is willing to pawn their asset to be aware of the loan process along with its terms and condition.

A pawn shop may have some unique rules to follow, and thus, it is essential for you to apprehend the entire process and all the significant points, including the maximum loan tenure, extension period after the expiration of the contract, interest rates, default terms, methods of payments and others.

This information will aid you to get organised while enabling you to opt for a pawn loan conveniently and with peace of mind.

Paying off the loan and the interest

With a collateral loan, the borrower can pay off its loan to reclaim his/her item before the due date or on the day the contract expires. Your pawnbroker may inform you once the contract time expires and offer you 14 days cooling off time to redeem your asset. Once you repay the full amount you owed and the interest due, you will get your asset back that has been stored in insured and secured vaults during the loan term.

Failing to pay off (or paying late)

In instances, when you cannot redeem your asset kept as the pawn, even within the grace period, your pawnbroker may help you in renewing the loan. You will receive a new contract and an additional six to seven months to pay back, by paying off the interest of the original loan term.

Conversely, the pawnbroker may sell your item to recover the cash or debt if you do not contact or wish to redeem your item within the specified time.

Regardless of what one may believe, a professional and reliable pawnbroker always wants to help his/her valued customers wherever possible. Indeed, a pawnbroker works to make the pawnbroking process more accessible and comfortable for customers who are likely to come back to pawn the same (or other) asset should they want fast cash again in future. While you can secure a pawn loan from a pawnbroker without any credit checks, you can also recover the collateral after the existing loan term expires with no hassles.

Tips on Pawning Your Diamond Jewellery

pawning your diamond jewellery

If you have a diamond ring and want to raise some quick cash, you may wonder whether it is worthwhile to pawn it for generating quick cash. When fast money sounds requisite to you, and you do not also mind to part with one of your precious items for a particular term, pawning may be the best option for you. You can pawn your diamond ring to any reliable high street pawnbrokers in London or any other big city and raise the money you need, while still retaining the right to retrieve your asset after the loan time expires or whenever you want, paying the loan amount along with the due interest.

But before you head out to visit a pawn shop near you, have a look at these tips to get the most out of your precious diamond jewellery:

Know your asset first

Diamonds are priceless gems and absolutely, for a good reason. Whether your diamond ring is a family heirloom that passed down to you or an engagement ring from a broken relationship, the more you know about the asset, more comfortable it will be to determine the price that you can expect to obtain.

While it is requisite to know the actual value of your diamond jewellery you are interested in keeping as collateral for a pawn loan, you should also have a good idea of its quality and authenticity. And that is when a pawnbroker may come in handy. Getting an appraisal from some of the well-established and trustworthy pawnbrokers in London is always a good idea, usually for two reasons:

One, you will be able to know about your diamond’s characteristics like shape or cut and condition.

Second, the pawnbroker can estimate the real value of your asset based on these aspects and the current market price as well as explain to you the factors that may influence the value of your diamond jewellery item.

Professional and long-established pawnbrokers also have a convenient online platform where you can fill up a free quote form and receive a no obligation valuation in less than no time.

It is about the carat Marks

As with any diamond jewellery, a pawnbroker will determine the value of your diamond piece according to its carat. Although diamonds are priced based on four standards, the most significant of the four is carat.

Thus, it is essential for you to pay attention to the gold carat markings like 14ct, 10ct and 18ct on the diamond jewellery item you are about to pawn, as your pawnbroker will explicitly look for these markings to appraise your item accordingly.

Clean your diamond jewellery

Ideally, cleaning your diamond ring or other diamond items is the best way to exhibit the carat markings and make it presentable as much as possible to ensure a good deal. While streaks or smears can undoubtedly dull the brilliance of your diamonds, such wear and tear may also result in a significant cutback on the loan amount that a pawnbroker is willing to offer. Thus, cleaning your asset is prerequisite before you pave the way to a local pawn shop as it may add a lot to the value you expect to secure from it.

For those who are wondering:

How to clean a diamond ring or any other diamond jewellery?

You can use mild dish soap and mix it in water to make a handy de-greasing solution. Clean your gem once or twice in a week and make sure to use a toothbrush or any soft utensil for scrapping.

Conversely, you can use a jewellery cleaning solution formulated especially for cleaning diamond jewellery. Such solutions can indeed help you to weed out even the most robust junk and dirt, and eventually, bring in a good deal in the end.

It is always smooth and hassle-free to get a loan against diamond jewellery from a trustworthy local pawnbroker in London or any other big city, online or via appointment. With professional evaluators on hand and secure online platform, you can opt for a pawn loan filling up an online form from the comfort of your home or any other place. Alternatively, you can bring in your diamond ring to their brick and mortar office (by appointment) and receive an instant cash loan offer without any credit check.

5 Things to Consider Before Pawning Any Luxury Item in a Local Pawn Shop

local pawn shop

When tough times hit hard, people often look to pawn shops to acquire value from their luxury assets, securing a safety pawn loan that covers short-term financial needs. Not only does a pawn shop offers an excellent way of raising money off the things that you probably do not use or want, but a pawn shop is also a place where you can secure an instant cash loan without troublesome credit checks. While more and more people are now turning to pawnbrokers for procuring instant loans, high-end pawnshops are monitoring their security systems carefully to shield their inventory.

If you are considering visiting a pawn shop to unlock the value of your luxury item, here are five things that you should consider before accepting offers:

pwan rolex london

Track record

With the increasing popularity of some TV shows that focuses solely on pawn shops, more individuals are opting for the convenient pawnbroking service to pawn as well as sell their valuables. However, before you visit a local pawn shop, it may be worth considering two things:

  1. how long the pawn shop has been in this business?
  2. how long they have been at their present location?

Look:

It is always important to choose a well-established business that has had a long track record and pleasant dealings with the community. Here at The Luxury Hut, we pride ourselves on our proficiency to provide our potential customers with elite service for many years.

Qualified team

When you choose to pawn or sell a luxury asset, it is essential to have an idea about the possible value of your item in the recent market before walking in the door of a pawn shop. Keep in mind:

Virtually all reputed and reliable pawn shops in London or any other big city have a qualified team of professionals who have extensive knowledge and experience to assess an accurate value of any luxury asset.

Want to know the best part?

With more than 40 years of experience, experts at The Luxury Hut are always on hand to provide you with their unsurpassed and expertise valuation service at no cost to you. Just call us on 0207 242 5411 to communicate with one of our team members and get expert advice on our fantastic pawnbroking or selling process without any obligation.

Legitimate business

When you decide to sell or pawn with The Luxury Hut, you may wonder:

‘Is The Luxury Hut properly licensed?’ or, ‘How The Luxury Hut is regarded among its trade organisations?’

Although there may be media speculation around pawnbrokers, often portrayed negatively in the press, the fact is that all pawnbrokers are now heavily regulated and required to acquire a license from the Financial Conduct Authority to trade. And, we at The Luxury Hut are also the members of the National Pawnbroking Association and strictly adhere to their guidelines.

Ways to value a luxury asset

You might be wondering:

‘How does the process of valuation work?’ or, ‘Does the appraisal process wholly describe your asset?’

Look:

If a pawnbroker does not carry out the process of valuation precisely and carefully considering all the significant aspects, you may not end up getting the actual value that you can potentially obtain.

The Luxury Hut executes elaborate valuation process, aided by our team of experts that includes a close assessment of every item on its merits and innate qualities as well as crucial aspects like the brand, age, and condition to provide our customers with the best offers possible in the market.

Security of items

As already mentioned above, a good pawn shop always monitors their security systems carefully for protecting their inventory. A pawnbroker is conscious of the fact that poor storage facility can hamper his/her business. While in his/her possession, if valuables are destroyed or stolen, customers will never want to engage in future and it may potentially run the business to the ground.

As with any trustworthy high street pawnbrokers, The Luxury Hut stores all precious assets safely in special holding vaults that are fully secured and insured.

Thus, get in touch with the experts at The Luxury Hut today and pawn your luxury asset with confidence and peace of mind. We are happy to help you wherever we can, making the process of selling and pawnbroking easy, secure and straightforward for you.

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