Why collectors love Pawnbrokers

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When I think of the word ‘Collector’ I imagine back when I was a teen, and everyone had sports trading cards, there were shops that sold them, and they had all sorts of signed gear for sale. Like-wise you might imagine someone who has a basement full of mint condition comics. Yet it should not come as a surprise that the rich, like collecting expensive things. Not only that but collecting things that but only go up in value. When it comes to collecting, here I am talking about luxury items, watches, antiques and of course artwork and jewellery.

When it comes to collectables, the main thing that makes you money is knowledge. If I know a 2012 stainless steel Rolex Daytona can sell for x, and I see it for sale less than that, you know you have made profit it in purchase. A lot of collectors and jewellery traders make a lot of money, buying from the public, at auctions and other events where their knowledge is greater than who they are buying from. This is why you should always know the value of your good before selling it.

Why collectors love pawnbrokers:

Imagine you are a collector or a trader in luxury watches, you have been offered an item, and you know that it is undervalued. There are many reasons for this, often the person doesn’t have the contacts you do and can’t obtain the same price. They want less profit and just free up funds. They have had this item for years and no longer value it aesthetically. If you had to get £20,000 pound in 24 hours, could you? Would you know what to do?

This is why collectors love pawnbrokers and develop a relationship with one as a part of their business model. They need to have someone they can call, pawn some other items from their collection to obtain the new one. You might be intending a quick sale, and in less than a month you have sold the item, repaid the loan and redeemed your pledge.

Loan, not Sale:

One collector, we work with, is a well-known jewellery trader and in the course of his trading has built up a collection of around twenty luxury watches. Many of these were purchased many years ago and have risen steeply in value.

He is offered good deals from the public during his business and the course of the year and rather than sell other pieces to buy more. He uses the collection, or parts of it as collateral to lend against it and thus add to it. He then gets a new watch to wear and slowly pays it off as he feels, in a few weeks or months, but doesn’t have to worry about the hit to the bank account on the day.

With affordable cash loans that are between 4-6% for a month, they are much lower than a credit card and if you have a good relationship with a broker like Hopkins and Jones, getting a large fast cash loan could not be easier.

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On September 13, 2019
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Hopkins & Jones Ltd is a trade member of The NPA (The National Pawnbrokers Association). Hopkins and Jones Limited, Company registration Number 433606. Registered Office, 7 William IV Street, London, WC2N 4DW. Hopkins and Jones Limited are authorised and regulated by the Financial Conduct Authority licence No 6520002 for the provision of pawnbroking loans.