if your looking to Pawn your engagement ring, a old necklace, or a diamond and gem set i-phone case, the deciding factors on what can be lent to you is of course what it is worth.
The phone case:
One of the fun things about being a London pawnbroker is the excitement of not knowing what clients are going to bring you. The initial contact, which will be on-line, by telephone, or with the customer visiting the pawnbrokers will invariably throw up discrepancies between the customers expectations and the pawnbrokers view. Over the years, specializing in lending on luxury items, we have seen a vast array of Jewellery and watches. Diamonds of all sizes and colours, Jewellery from Cartier, Graff, Tiffany. Luxury watches Watches from Rolex, Patek Philippe, IWC, Jaeger Le Coultre, Audemars Piguet to name just a few.
Our first contact on this particular occasion with our client was by telephone and we were told that they had an extremely expensive gold and gem set mobile phone case and that they wished to raise £30,000 short term loan, probably for a month. Now we thought that this was one of those occasions when customers expectations as to the re-sale value of a luxury item and our view would differ. When you think about an i-phone case you don’t automatically think that you will have an item that could be used as collateral for a large pawnbroking loan.
Value vs Cost:
Often with diamonds, rings and jewelry the cost is high because of the brand. A Tiffany ring, will cost more in the shop, but may not be priced as high in the resale market. Likewise the resale value of a diamond encrusted iPhone case could be hard to judge. Diamonds like have a “Rap price” price, this is the base value if someone want to use the diamonds for something else.
For those not in the jewelery trade, the “Rap Price” refers to the Rapaport research report, which states the base price, industry wide for diamonds, given certain cut, color, clarity and carat. If you want to get a fast cash loan from a London Pawnbroker and want to get a good price, it pays to know what your diamond is, and what is worth as a loose stone.