Personal loans are the fastest-growing form of consumer lending in the U.S., growing by 12% yearly since 2015.
Physical assets like cars, houses and pre-owned Rolex watches make great collateral for loans. Collateral loans allow you to get a quick cash infusion without having to sell your prized possession - all while not taking out any unnecessary risks with its value! Rolex collectors have an advantage in borrowing loans since most lenders loan money against Rolex watches.
This article discusses five FAQS about using a pre-owned Rolex as collateral.
What Makes A Rolex Watch A Valuable Asset?
A pre-owned Rolex watch is a valuable asset for anyone looking for a reliable and quality timepiece.
What makes Rolex so special?
Rolex watches are incredibly well-made, with each component crafted to very high standards. The materials used are also of the highest quality, ensuring that the watch will withstand years of wear and tear.
In addition, Rolex watches boast a classic design that never goes out of style. Whether a timeless model like the Datejust or a more modern option like the GMT-Master II, Rolex watches always look sophisticated and elegant.
Finally, pre-owned Rolex watches hold their value exceptionally well, meaning that you can sell it for a good price later on down the line or use it for collateral and borrow against its value.
What Is a Rolex Collateral Loan?
You can use a Rolex watch as collateral for an unsecured loan. The high quality and demand for these watches make them valuable, so they are easy to loan against. We strongly advise you to be sure that the lender you choose is reputable, but most importantly, they should know the market value of each different style.
How Do Rolex Collateral Loans Work?
Once you have determined where to take your Rolex, you should take the paperwork and the original box to them. This helps determine the watch's value and makes the loan process easier.
However, not having them isn’t a deal-breaker. Once you've delivered the watch, the lender will begin authenticating and appraising it, depending on the current market price.
Several factors determine the amount you can borrow. These include the condition, model, and materials used to make your watch.
You can get your collateral loan at Green Hills Jewelry and Loan that same day!
Does the Brand Name and Status Increase Its Price?
Rolex watches are associated with luxury and class. Their quality makes it difficult to find another watch company that can compare in terms of craftsmanship; not only this, but you'll also be hard-pressed finding someone who hasn't heard about or knows about these iconic pieces. And because there are very few watches depending on the model, the lender will also consider what model the Rolex is.
This measure determines the amount of loaned money you are eligible to borrow.
Where Can One Get a Rolex Collateral Loan?
Rolex watches are highly sought after by pawn shops and Rolex collectors. Businesses like Green Hills Jewelry and Loan sell, buy, and offer loans against luxury items such as gold coins in addition to Rolex watches. They do not go by credit scores and are only interested in the asset.
Using a Pre-Owned Rolex as Collateral for Rolex Collectors
Rolex watches are one of the most sought-after luxury items. They maintain their value over time and can be passed down through generations like fine art.
If you are interested in selling your Rolex or using your Rolex as collateral for a loan, contact us today. We would be happy to assist you!