When looking for a pawnbroker, you may want to find one that has their shop near you. So you can swing by during your lunch break or maybe visit them after work. This would be a mistake, as not all pawnbrokers are made equal. This is also why Hopkins and Jones are located right near one of the major train stations and are well worth the trip.
Finding the right Pawnbroker for your needs is very important and what you need is an expert in your field. Finding some who can offer you the maximum amount lent on your goods, so you can perhaps lend against less.
Why you need an expert?
The more you learn about any field, the more you realise there is to learn. This is firmly the case with luxury watches, gold, diamonds and antiques in general. They all have many things affecting their value.
Lending money against assets, the pawnbroker will only lend what they are sure of getting back. If they don’t have the customers for the goods or know their actual value, then they will offer you less.
If you have a luxury item you want to make a loan against, it will serve you well to know exactly what you have and realise that minor things can affect the price in significant ways.
Let’s say you were given a pair of solid silver candlesticks from an inheritance, and while you don’t want to sell them, you are in a money emergency and few thousand pounds for a month or two would help right now. There are a few factors that will strongly affect the price.
– Weight. (silver is a precious metal and priced per gram)
– The year it was made.
– Where and who it was made by.
– Quality and any damage.
Not an expert:
A non-expert may see the hallmarks for London and 24 karat silver and offer you the scrap value in a loan. This is the lowest possible value of your goods and very far from a good deal. An expert will look for the markers mark as well. As an example, if they see it is a ‘T.G’, and look it up. They will see it was made by ‘Thomas Gilpin,’ a very well-known maker from the Victorian era, with goods for sale at Christie’s and an international following of collectors and buyers. Also if they look for the year they will know these pieces made post-1750 are worth the most.
Tiny details strongly affect the value of your goods, and you want to ensure that you are getting the best deal from you pawnbroker. This way you also know what the goods are worth if you do decide to sell and may not have to lend against multiple items to get the loan amount you need. When looking for a pawnbroker, find one that is central, like Hopkins can help, but much more than close you need one who is an expert in luxury watches, gold, silver and diamonds, and is aware of any changes in the market.