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Tag: london pawnbrokers

Top 5 Watches with the Greatest Pawn Value

October 27th, 2021

For those who are unaware, Pawnbroking has been on the scene for a very long time. But it is equally true that recent years have seen a steady surge in the world of Pawnbroking. Wondering why?

Well, today, people are in search of ways to earn quick money or make a short-term investment. Therefore, what better than unlocking the monetary value of their assets like expensive watches, jewellery, or even fine art!

Top 5 Watches in 2021

The pawnbroker sign is primarily visible on the high street, and it signifies a place where the customers can quickly get collateral loans against their valuable items. When looking online to find a trustworthy place, you might come across numerous options. Multiple companies are promising to offer you the best prices in the market. But is it so?

Over the years, The Luxury Hut has established itself as an efficient and trustworthy name in the world of Pawnbroking. The experts offer loan against watches and jewellery at the best possible market value.

Also Read: The Real Facts to know about Pawnshop Loans

Why is Watch Pawning rising in popularity?

In current times, people have been more attracted to luxury watches. Be it for their beauty, functionality, or history; the watch industry has spotted a significant rise in popularity. Several investors are making quick money by selling and buying watches, mainly at the high-end auctions.

If you have a high-end watch, you have a source of collateral for drawing quick loans. When looking to raise funds, one of the most obvious questions is whether to sell or pawn. The choice you make depends on two key factors:

  • How much money do you need
  • How much sentimental value it holds

Hence, contemplating pawning or selling, you must make an informed decision.

Why Pawning could be the best option for you?

Top 5 reasons are:

1. Not a Traditional Sell

Try and think pawning your watch as a type of loan rather than a typical sell. When you bring your valuable product, for example, a watch, to a pawn shop, they will access the value of your item. However, it would be best if you took it to a genuine store to avoid complications.

With The Luxury Hut pawnbrokers in London, you can be rest assured to get the best competitive price. Moreover, they ensure to maintain a transparent way of conduct with the customer.

2. Earn It Back

Unlike a traditional sell, the item, in this case, is only temporarily held by the pawnshop. This means you can easily claim it back once your need is satisfied. The sooner you can repay the loan, the sooner you get the item back. Of course, you have to pay a minimal interest amount for a couple of months. But that is a much feasible option in comparison to the sentimental value it holds.

At the Luxury Hut, the interest rate varies from 4%-6% per month.

For instance, you borrow a loan of £6000 for 3 months

  • Total interest for 3 months -£900
  • Total repayment amount – £6900
  • Monthly Interest – 5.0%
  • APR 79.6%

Now, for instance, you borrowed a loan of £500 for 1 month

  • Total interest for 1 month – £30
  • Total repayment – £530
  • Monthly Interest – 6%
  • APR 101.22%

3. Receive Best Offers

One of the best reasons to visit a pawnbroker for pawning your watch is that you will receive a more competitive offer. The professionals access the value accurately. Moreover, since they are well-versed with the current secondhand market scenario, they will make you strong offers on your luxury watch.

4. No Financial Stress

Do you want to get into all the financial stress of loans and banks? If the answer is no, then you probably already know the next best option! Not just that, at The Luxury Hut, the pawnbrokers do not carry out any credit check before lending you the money.

You can quickly contact the expert pawnbrokers at The Luxury Hut where they have laid out a simple process to make the process easy flowing.

The 3 steps include:

  • Fill an online form
  • Receive INSTANT free quote
  • Free watch valuation

5. FCA (Financial Conduct Authority) Regulated

The pawnbrokers in London need to abide by the rules of conduct stated by the FCA. As per the rules, the customers who enter into a pawn loan agreement get entitled to a 14 days extended period. In this case, if they change their mind or deny the contract within 14 days, they are charged with no amount.

The Luxury Hut is regulated and authorised by the Financial Conduct Authority for pawnbroking.

Also Read: High Street Pawnbrokers: A Trusted Lifeline for Many Borrowers

Which watches pawn best?

Are you aware of the value of the classic watch which you might have just stashed away at your home? Well, there are some particular luxury watch brands whose value may be just more than just a beautiful item to store.

Below listed are Top 5 watches that are a valuable asset to use against pawn.

Rolex

When you think of the most popular and luxurious watch brand, many will automatically quote Rolex. Since they retain a large portion of their retail value, the pawnshops love to buy the Rolex watches. This means that it’s an added advantage if you have a Rolex watch.

Due to their high-quality manufacturing, expert craftsmanship, and stature, these expensive watches can act best to give you short-term security during financial needs. However, some specific models will reach a higher loan price than the rest, such as the Rolex Submariner, Rolex GMT, and Daytona. If you own a Rolex model in excellent condition, expect to receive a decent sum of the amount why you need it the most!

Audemars Piguet

If you were unsure whether or not you can pawn your valuable Audemars Piguet watch, be rest assured that the very name suggests class and incredible luxury. This luxurious watch brand tags itself as one of the biggest names in the watch industry. The older models of this brand are growing in popularity and demonstrate a notable ability to retain their worth. Hence, they make an excellent option for loans.

Guess what? Today more and more people are willing to borrow or buy the Audemars Piguet watches to raise quick cash. Also, some specific models indeed are more desirable than others. For instance, the Jules Audemars, Royal Oak, and Millenary collections are sure to be higher.

Cartier

When you think of a Cartier watch piece, you think of luxurious aesthetics, innovative watch engineering, and sophistication. A few older models are growing in popularity, especially those that are more difficult to come by. This is what makes them a popular asset for collateral in asset loans.

A few of the most notable Cartier brands with a higher impact on the market include the Santos, Tank, and Tonneau series. Moreover, the latest version of the Santos (Triple 100) released in 2008 is the first-ever Cartier with a rotating-dial mechanism.

Patek Philippe

If you ever consider pawning your Patek Philippe watch piece, look no further than The Luxury Hut. The watch experts are passionate about luxury collectables and will be happy to offer you the best possible price for any model in any condition. Also, they conduct no credit checks before lending the money.

Being considered one of the most collectable brands, the Patek Philippe is an attractive asset to pawn.

Some models that can fetch you a higher loan amount are:

  • Aquanaut
  • Calatrava
  • Complications (Ladies)
  • Gondolo
  • Grand Complications
  • Nautilus
  • Perpetual Calendars
  • Twenty~4 collection
  • World Times
  • Jaeger Lecoultre

Jaeger Lecoultre is one of the finest Swiss luxury watch manufacturers creating fine watch pieces since 1833. The watches are valuable for their quality and refinement. The brand’s reputation is cemented based on its accuracy and style. Some of the best running models of all time include:

  • Reverso
  • The Memovox
  • Master Compressor
  • The Master Ultra Thin
  • The Joaillerie 101 Manchette
  • Jaeger-LeCoultre Reverso

The watch experts at The Luxury Hut offer loans on Jaeger Lecoultre watches based on the item’s current market value. After conducting a quick inspection, the team will offer you a free instant quote.

You can also book an appointment by calling them 0207 242 9160 to visit their office in Hatton Garden, London.

Also Read: Why Choose Us as Your Trusted Pawnbrokers in London?

How much can you pawn your watch for?

Pawnshops are great. After all, they function as the reliable one-stop sources for quick cash. But how do you get the most money out of your valuable item? The answer varies depending on several factors, such as:

  • Age
  • Condition
  • Documents
  • Design

The pawnbrokers in London at Luxury Hut are specialists in assessing your classic timepiece. They carefully advise you on the various factors and determine the accurate value depending on the market trends. Of course, each luxury brand has its unique features and identity that influences the watch’s value. But with them, you can expect to get your desired loan amount.

Additionally, if you do not have the watch related papers and documents, do not worry, as the experts will still proceed with the cash loan.

At The Luxury Hut, the team appreciates the beauty and elegance of luxury watches. If you choose to pawn your watch with them online or via appointment, be ready to experience some of the key benefits like:

  • No credit checks
  • Competitive Cash Loan offer
  • Instant free quote
  • No hidden charges
  • Full Security and Confidentiality
  • No early retrieval fees

Also Read: Deal with the Leading Watch Shop in London to Buy, Sell & Pawn Luxury Watches

The Real Facts to know about Pawnshop Loans

October 7th, 2021

Pawnbroking is the oldest form of borrowing cash, and the evidence of its use dates back to more than 3,000 years ago. The process and idea are simple that worked well, and has stood the test of time. The Luxury Hut pawnbrokers London provides a simple, secure and hassle-free way to apply for a pawnshop loan. We always strive to ensure that the process is convenient as possible.

pawnshop loan

Are you thinking to apply for a pawn loan? Is it the first time? Then, you will surely have many questions about what a pawnshop loan is, how it works, what you need to have to get it, and more. So we have put together some commonly asked questions on pawnbroking to help you by taking you through all the basics.

What is a pledge?

A ‘pledge’ refers to any item of value that you used as security – also referred to as collateral -against a pawnbroking loan. It can be a luxury watch, gold, diamond jewellery, a car and more.

In pawnbroking, the concept of a pledge is that its value will be enough to cover the loan amount, interest or any cost outstanding in case the customer do not repay the loan for any reason.

When you repay the loan after the loan term ends, you will get back your pledge.

What is a pawnshop loan?

Pawnbroking is a quick, easy and secure way to borrow money against an item of value that you own. At The Luxury Hut, we lend against high-end luxury watches, diamond and gold jewellery or any gold item.

The loan amount you are likely to secure depends solely on the value of your collateral. Pawnbrokers will not check your credit score or how much you earn.

The maximum loan term is usually six to seven months. However, you can pay off the loan any time during your loan tenure and redeem your asset.

loan against rolex watch

What items can you pawn?

You can pawn virtually any item of value. However, the things accepted as collateral for a pawn loan typically vary from one pawnbroker to another.

At The Luxury Hut, you can secure a loan against luxury watches, diamond jewellery, loose diamonds and gold (jewellery, scrap gold or any gold item).

What are the benefits of pawnbroking?

Opting for a pawn loan is always a better choice than getting a personal loan. Why? Here are some of the significant advantages:

  • Get instant cash

A pawn loan gives you access to cash instantly, unlike other loan types that usually take a couple of weeks to approve. You will only need an item of value to keep as security.

At The Luxury Hut, we will appraise your asset and offer you a cash loan, even if your credit score is poor. Accept our offer and get paid on the spot.

  • Minimal paperwork

Unlike banks or any financial institutions, a pawnshop loan requires minimal paperwork for approval. Here at The Luxury Hut, we only ask for valid proof of identification to get into the agreement. And after you accept our loan offer, you will have to sign a pledge receipt that outlines your loan terms. That’s it.

From visiting our pawn shop in London, getting a quote, to walking out with your cash, the entire pawnbroking process may take as little as an hour to complete.

  • No credit checks

Pawnbrokers do not check credit score or how much you earn before approving a loan. As long as you have a precious item to use as collateral, you can opt for a pawnshop loan.

  • Retain your asset’s ownership

Pawnbroking allows you to retain ownership of your asset, and it significantly matters if you have a strong emotional attachment with the item.

What is the best time to pawn assets?

Whenever you need to secure some fast cash or in short-term financial needs, you can choose to unlock the value of your asset by getting a pawn loan. You can get a pawn loan and cash in your hand within a few minutes.

As we mentioned earlier, pawnbroking allows you to instantly borrow the money you need against a precious item without any credit check.

Moreover, you do not also have to go through a lengthy application process to get the loan. The asset you keep as security will determine the amount you can borrow from the pawnbrokers in London at The Luxury Hut.

loan against jewellery

How much does a pawnbroking loan cost?

Our interest rates vary from 4% – 6% per month. Take a look at the representative example given below –

Representative Example 1: Loan of £6000 borrowed for three months

Total interest for three months – £900

  • Total repayment – £6900
  • Monthly interest – 5.0%
  • APR 79.6%

Representative Example 2: Loan of £500 borrowed for one month

  • Total interest for one month – £30
  • Total repayment – £530
  • Monthly interest – 6%
  • APR 101.22%

How much can you borrow against a pledge?

The amount you can borrow and that we are willing to lend will depend on the value of your collateral. However, the minimum amount of cash loan you can borrow from The Luxury Hut pawnbrokers London is £300.

Fill in our online form providing all details on your asset. We will contact you immediately with a loan quote via phone or email. Alternatively, you can call us on 0207 242 9160 now for an instant valuation over the phone.

What is the maximum loan term?

At The Luxury Hut, the maximum term for a pawnbroking loan is seven months.

When can I redeem my asset?

You can retrieve your collateral at any time during your loan term, provided you pay off the entire loan amount and the interest due. We do not charge any early retrieval fees.

Will my item be safe while in pawn?

Yes. We will store your asset securely in our safe until you come back to repay your loan in full and collect it.

What if I cannot afford to redeem my asset? Will it affect my credit score?

If you cannot repay and collect your pledge within the agreed time for any reason, we can offer you a choice to renew your loan. This means we can extend your loan agreement for seven months for another seven months. You only have to pay the interest due at the end of the contract. And this will not affect your credit score.

However, it is recommended to repay and redeem your asset within the agreed loan term.

Are pawnbrokers regulated?

Yes. The Luxury Hut pawnbrokers in London are regulated by the Financial Conduct Authority (FCA). Thus, we abide by the applicable rules and guidelines issued by the FCA for pawnbroking. We are also a part of National Pawnbrokers Association (NPA).

For any further questions or concerns, you can contact us on 0207 242 9160.

The Iconic Datejust: Is this Rolex a Good Investment?

March 25th, 2021

The Datejust is one of the cornerstones and longest-running watches in Rolex’s catalogue. Since its inception in 1945, the Datejust has appealed to global collectors with its classic everyday-go-to design and aesthetics. Today, this revolutionary model is available in different case sizes, bracelet options and materials.

Rolex designed the first waterproof case in 1926 and the innovative perpetual movement in 1931. The interesting fact is that Rolex furnished the iconic Datejust with all these ingenious features and added date functionality. All these factors eventually contributed to the incredible success and desirability that Datejust enjoys today both in the retail and pre-owned market.

rolex datejust

So is the Rolex Datejust a good investment? Continue reading below to determine whether or not this Rolex watch is a good investment and some common questions related to the Datejust.

However, if you are looking to get a loan against a Rolex watch, get in touch with the trusted pawnbrokers online at The Luxury Hut. Fill up a simple online form and receive a free competitive loan quote.

Why is the Rolex Datejust so famous?

It’s no secret that Rolex Datejust is one of the most famous models in the world. Its timeless design has sustained more than half a century being on the trend. And it is continuing to accompany and complement the wrists of men and women globally today.

However, this iconic watch is considered the archetype of all other Rolex watches.

  • It has inspired several other Rolex’s designs and styles.
  • The Datejust is a perfect everyday timepiece, an all-rounder.
  • It carries a unique look and has enough options (metals, dials and bracelets) to complement every distinctive taste.

Moreover, besides sporting a timeless, fashionable design, the watch ensures complete accuracy running on Chronometer-certified movements. And you cannot miss considering Datejust’s glorious history when looking for the reasons behind its unrivalled popularity.

Whatever model you choose, vintage or modern, the Rolex Datejust looks excellent. It has graced the wrists of many great and famous personalities, including Winston Churchill and Paul Newman.

Is the Rolex Datejust worthy of investing?

The straightforward answer to the common question ‘is the Rolex Datejust a good investment’ is – yes.

Virtually all Rolex watches hold their value well with time. The brand’s acclaimed legacy, exclusivity paired with top-notch quality ensures that a Rolex watch will stand the test of time in style, precision and performance. And the Datejust is no exception.

Rolex continues to produce the Datejust to date, and it yet enjoys fame as one of the most successful Rolex watches. The watch is expected to remain a popular choice among collectors worldwide in the coming days, years and even decades from now.

Moreover, the vintage Datejust watches are yet in trend. Potential watch buyers and collectors are often willing to pay top prices for older Datejust models with appealing history and character. Together with the enduring design, all these aspects enable the Rolex Datejust to hold its value for the long-term.

Will the Datejust increase in value?

The Rolex Datejust has increased in value by over 200% between 1994 and 2016. The average growth has been nearly 4.6% each year over the past 10years.

Considering the huge demand for Rolex watches across the world, you can be pretty sure that this trend will continue. Rolex seems to be heading towards taking over a higher price point in the luxury watch industry.

Thus, those who are looking to invest in a Rolex Datejust can proceed with confidence. However, while Rolex watches retain good value with time, they can serve as an excellent asset to use as collateral for a pawn loan.

So if you want to raise instant cash and own a Rolex watch, get a loan against your watch from the professional online pawnbrokers at The Luxury Hut. We lend against all Rolex watches.

Fill up our online form and get a free quote for a loan against Rolex. Or call on 0207 242 9160. We do not carry out any credit checks and pay immediately via bank transfer. Rest assured, you will secure the highest possible amount of cash loan against your luxury watch.

© 2022 The Luxury Hut is a trading name of Golden Cash Limited. Authorised and regulated by The Financial Conduct Authority for pawnbroking. Registered in England as Golden Cash Limited. Registered Number is 07309335. Registered office address: Treviot House, 186-192 High Road, IIford, Essex, IG1 1LR.

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