The UK pawn-broking industry loans around £930 million a year! From a few hundred to several thousand pounds there’s usually a deal to be done. Asset rich, cash poor people can always find a deal. Posh pawn-brokers will do a deal on virtually anything but, for speed and ease items that are coveted like a Rolex watch can be lent against. An experienced pawnbroker will be able to do this as a same day transaction.
Pawn-brokers are in the business of lending money!
If the item is expensive like a Rolex watch, they will be more than happy to negotiate and will usually want to do a deal enabling the owner to borrow a significant sum of cash. Some items are more popular than others. For example, something that’s classic like a vintage Rolex watch can often be borrowed against quite easily, and as most people look to raise cash quickly a posh pawnbroker can be the solution, as they will not be surprised to be valuing items such as a high-end prestige watch. Or indeed, any item made with precious stones or precious metal.
In today’s fast-moving economic climate pawn-broking has come of age and is now seen as a main stream business activity. The traditional sign of the three balls which signified a pawn broker’s shop on the High Street in the past, is still the recognisable sign used today and will be somewhere where the speed of the pawn-broking transaction can meet your cash-flow needs. Now, well-dressed, affluent people looking to borrow cash against their Rolex watches, or diamond bracelets, diamond earrings or diamond jewellery are equally likely to be seen visiting a pawn broker and emerging with a huge grin.
Pawn-brokers are experts in their field. As professionals they know how to expertly value items, but if it is a highly specialist item most of them will usually take advantage of their expert network of individual specialists that they can also refer to. Rolex is one of the most famous watch brands and an item that is highly sought after, so it offers a good opportunity for the owner who is looking to borrow money, as any experienced pawn broker should be more than familiar with a Rolex timepiece. With a Rolex, a customer should be quite confident that they can borrow a decent sum of money against such a watch.
Super cars, jewellery, watches, fast cars, fine wines…these days you’d be surprised what kind of people visit a pawn-brokers. ‘Posh Pawn’ as it is known has become quite a trend. Fashions come and go, lifestyles change and people sometimes need to borrow cash for all sorts of reasons. Pawn-brokers are surprisingly busy all day, every day. It has become part of main stream retail activity and pawn-brokers will both loan against items or try to sell an item for a customer. Many customers become friendly with their pawn-broker and offer them repeat business as they trust them. They are also realistic and realise that a pawn-broker is a business person and has to make a profit on a transaction, too.
Borrowing money against any expensive items such as a Rolex watch should be comparatively easy! A classic Rolex Daytona, Rolex Submariner, Rolex GMT-Master are icons of their type. As long as the Rolex is proven to be authentic then that is all that is required. It’s always thrilling for a pawn-broker to see a nice piece. Even if they are handling high end items every day