Frequently Asked Questions

Below are a list of FAQ’s. Take a look at them as our team at The Luxury Hut Pawnbrokers are here to answer any other question apart from the ones answered below. Contact us today.

Are you members of any professional associations?

We are members of the National Pawnbroking Association and follow all their guidelines.
These guidelines are in place to protect and help you

Can I pawn more than one item at a time?

Yes. You can bring in as many items as you like.

Each pledge item can be redeemed on its own, or with other pledge items, when the appropriate interest and loan amounts have been paid off.

Do I need to make monthly payments?

No, when you are ready to redeem your item, you pay back the money you borrowed, plus the total amount of interest due and we will return the item back to you.

Does it matter if my valuables are damaged or out of fashion?

No it usually does not matter if your items are damaged or out of fashion but you can generally borrow more money if your items are in a better condition.

How and when do I get the money?

If you accept our loan offer, you will receive cash on the spot!

How long can I keep an item in pawn for?

Items can be held in pawn for up to seven months. You can pay your loan off at any time in this period and will only be charged interest on the amount of time your asset was on loan.

What do you lend against?

Jewellery – Most types of jewellery including rings, bracelets, necklaces and earrings containing gold, platinum, diamonds and other gemstones.

Fine watches – Luxury watches including Rolex, Cartier, Breitling, Audemars Piguet and Tag Heuer

Precious metals and coins – including foreign gold, sovereigns and Krugerrands

Loose diamonds and precious gemstones – any size diamonds considered, they DON’T need to be certificated

What does it mean to Pawn?

Let’s start with what it doesn’t mean. It is not selling something.

A pawn loan allows you to borrow money today on your valuables without having to sell them.

A pawn loan allows you to get your valuables back after you pay off your loan.

A pawn loan allows you to extend your loan period without penalty.

A pawn loan will never hurt your credit and there is no lengthy application process to go through.

What happens if I don’t reclaim my item after seven months?

We will contact you once seven months has passed from your loan agreement.

If you still do not make contact with us we will sell the item on your behalf.

We aim to achieve the highest market price for you.

Any excess over the amount you borrowed and the interest accrued will be returned to you.

We will contact you to discuss returning the excess money to you.

We really don’t like selling items of sentimental value and so our financial department is always willing to work with you to work out a repayment plan.

What if I can’t get to your premises in Hatton Garden?

No problem. Please call us on 0207 242 9160 and we can discuss options with you.

You can always send your items to us. You may be provided with a special delivery envelope or we will arrange for courier collection if the item is larger or more valuable.

Where will my valuables be stored?

All valuables are stored safely in specialist holding vaults which are fully secured and insured.

Why do people use pawnbrokers?

Pawnbroking shops offer people a quick, convenient and confidential way to borrow money.

A short term cash need can be met with no credit check or legal consequences if the loan is not repaid.

You are simply borrowing from yourself.

Will default on a loan affect my credit score?

We do not report people to credit agencies.

How Much Is My Rolex Worth?
Finding out the worth of your Rolex is not as easy as you might think. 
This is because its value depends on several factors, like:
  • Model
  • Serial Number
  • Age
  • Condition
  • Metals/Materials
  • Original Box & Papers
An easy way to determine your Rolex’s value is by filling in our simple online form. Get a FREE valuation in less than a minute!
Why Do People Buy Expensive Watches?

The answer to this question varies from one person to another. While some prefer to buy an expensive watch to mark any special occasion, others merely buy because of the exclusive craftsmanship of the luxury timepieces. And then, some purchase watches from luxury brands like Rolex, Omega, Audemars Piguet and Patek Philippe as an investment.

The watches from these prominent luxury watch brands retain value well and, in most cases, appreciate over time, making them ideal investments.

How Do I Check A Rolex Serial Number?

In older Rolex watches, you can find the serial number carved in the middle of the lugs on the watch body. Remove the bracelet to find out the serial number of your Rolex.

In modern Rolex models, find the serial number engraved on the watch’s inner bezel at the 6 o’clock position beneath the crystal.

Which Rolex Holds Its Value The Best?

As one of the world’s most popular luxury watch brands, Rolex watches tend to hold their value really well. In fact, some models appreciate over the years.

Here’s a list of the Rolex models that are likely to hold great value over time:

  • Rolex Daytona
  • Rolex GMT-Master
  • Rolex Day-Date
  • Rolex Submariner
  • Rolex Explorer II
How Do I Sell My Rolex With Papers?

The box and papers ensure your Rolex watch’s authenticity and hence will always fetch you a higher price when you plan to sell your Rolex. However, the expert watch buyers at The Luxury Hut will ensure you get the best possible price for your watch without compromising on the value. We have developed a simple, secure and straightforward way to buy all pre-owned Rolex watches with/without the original box and papers.

You can sell your watch online or call 0207 242 9160 to book an appointment at our Hatton Garden store. You can trust us to sell your Rolex without the papers for the best price in London.

Why Rolex Submariner Is So Popular?

Since its introduction in 1954, the Submariner has remained one of the most successful Rolex creations. Originally developed for scuba divers, the Submariner has extended its popularity to people from different walks of life and is now considered one of the most in-demand.

Here’s why:

  • Quality: The Sub is made of 904L stainless steel, making it incredibly robust. The diver watch offers a water resistance of up to 300m, and the in-house movement makes it incredibly resistant to temperature changes & shocks.
  • Innovation: Rolex fitted the highly accurate Calibre 3135 with 31 jewels to the Submariner in 1988 and upgraded the luminous material used on the dial and hands.
  • Versatility: You can pair the Submariner with almost anything. Whether a formal meeting or an evening party, the iconic timepiece stands out with its versatility.
  • Resale value: The iconic dive watch secures one of the highest resale values in the secondary market, making it a lucrative investment option. You can always sell Rolex Submariner at a good value.
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