The pawn industry has undergone a significant facelift in the last few hundred years, starting life as one of the only loans poor people could get in the Victorian era, we now see the rise of the ‘Posh Pawnbroker’ and pawn loan being made against luxury items much more readily. Businesses like Hopkins and Jones are making loans against luxury watches, gold and diamond jewellery and the average dollar value of a pawn loan has increased significantly over the last twenty years. We now often hear the term ‘Posh Pawnbroker’ and may wonder what it covers.
What is a Posh Pawnbroker:
Simply put, a pawnbroker is one who derives their business from the luxury market. Here you will find a showcase that is full of Rolex, Breitling, Tag Heuer watches. You will find diamond and Gold jewellery, and you will find antique pieces. If you are looking to buy, you will find a full retail shop with many choices for your next investment or acquisition. If you are looking to sell you will find a broker with in-depth knowledge of the industry. It is of primary importance that the broker in question has an excellent understanding of the resale value of your goods as this is always changing.
What’s not for sale:
Unlike the TV shows which ad things in just for the excitement. You won’t find the keys to a helicopter or hovercraft for purchase in the showcase. Likewise on the shelves of the posh pawnbroker you won’t find a new electric guitar or leather jacket. This is strictly for luxury items.
Some items, while being of high value, are not items that are handled by the posh pawnbroker. If you are looking to get a same day cash loan against your luxury goods, the best thing to is to contact Hopkins and Jones via phone and ask. It is an easy matter to find out if they will make a loan against your goods.
Most common items lent against:
- Luxury watches (£1000+)
- Diamond rings and jewellery
- Gold, gold coins, rings
- Silver, silver tea service, Silver coins
- Antique jewellery
Posh pawn expert
The reason you need an expert is the price of your good can vary widely based on fine details of the products. These are things that you, as a consumer may not be aware but will affect how much you can loan against your goods.
Maybe you have a green stone ring you have gotten from your grandmother. You think it is her emerald and diamond engagement ring and have been told so. Depending on the Carat of the gold, the age of the piece, the quality of the diamonds and Emerald, the price may vary in the thousands. Some emeralds have been heat treated, which lowers the price, also in the UK, most gold jewellery has a hallmark that shows the year it was made. A ring made in 1890 by a famous maker will have a different price from a reproduction made in the 1950s, but more than one made 2017.
If you have a luxury item, go to a luxury specialist. Not only will you get the best deal, but you might find your next investment you can wear.