How to Relieve Holiday Debt with Collateral Loans

If you’re in need of holiday spending money and you’re looking for the best place to sell gold jewelry for cash, reputable luxury pawn shops such Watch & Wares are a great solution. We buy all types of gold and diamond jewelry as well as other luxury goods. However, we also offer generous collateral loans if you need cash but you’re not ready to part with your valuables. If you’ve been contemplating whether to sell diamond jewelry in order to relieve holiday debt this year, consider a collateral loan from Watch & Wares instead.

What is a collateral loan?

A collateral loan is a loan secured by something valuable that you own, such as fine jewelry or designer watches. Once your valuable item has been assessed for fair value, you’ll receive an equivalent loan value in cash and the lender will keep your asset as collateral. Once you repay the loan in full, you’ll receive your item(s) back. If you fail to repay the loan, the lender keeps your item indefinitely as repayment for the loan. Collateral loans are often preferred over other loan types because they don’t require a credit check and won’t affect your credit score if you fail to repay the full loan value. 

What is acceptable collateral for a loan?

We accept many different forms of collateral as the basis for a loan. Items we accept include contemporary and antique jewelry, Rolex watches and other designer timepieces, luxury handbags, fine art, rare coins, and other valuable collectibles. If you have any questions about a specific item you’d like to put up as collateral, speak to a team member and we would be happy to assist you and appraise any acceptable items.

What are the loan terms?

Watch & Wares is a premier choice for collateral loans because we offer generous and fully transparent loan terms that maximize your chance of full repayment. We fully comply with state regulations that control interest rates, how collateral is held, and loan repayment periods, ensuring that you are fully protected throughout the process. We issue loan tickets with every transaction, which clearly state all loan terms so you know exactly how the process works. Our loans are for a standard four-month window with a 10-day grace period. If you fully repay the loan in that time, we promptly return your collateral. If you fail to repay the loan, we keep your item as repayment. You can also choose to extend the loan by paying the interest owed in full. We work with you to give you flexible options that meet your needs and help you relieve holiday debt with minimal stress.

Why Watch & Wares?

We’re not just the best place to sell gold jewelry, we’re also the best place to loan it. We buy, sell, and appraise a wide variety of fine jewelry, designer watches, and luxury handbags, so we can conduct swift appraisals that result in some of the most competitive loan values in the area. We have a stellar team of industry experts and gemologists trained to appraise high-value items with unparalleled customer service. We also conduct all loans with the utmost discretion and transparency, ensuring you a comfortable and hassle-free luxury collateral loan experience. 

If you’re not ready to sell diamond jewelry that’s been in your family for years, but you need cash now, consider a Watch & Wares collateral loan instead. It’s a safe and secure option that preserves your good credit while getting you the money you need when you need it. To find out more about our collateral loans or to schedule an appraisal today, give us a call at (714) 731-9600. One of our friendly and knowledgeable staff members would be happy to assist you.