What Can You Use as Collateral for Pawn Shop Loans?
If you’re an Orange County resident in need of quick cash, you can get the money you need same-day with a collateral loan from Watch & Wares. With collateral loans, or pawn shop loans, you don’t need to undergo a credit check, and repayment will never affect your credit score. Instead, the items used as collateral will be kept by the lender if repayment isn’t made on time. Many people prefer collateral loans over any other type of loan because they’re low-risk, and you’ll receive the money instantly. However, what items can be accepted as collateral is often unclear and varies widely between lenders. When you visit Watch & Wares, here are the items that we can accept as collateral for a pawn shop loan.
Fine Jewelry
Fine jewelry is one of the most popular and valuable forms of collateral for pawn shop loans. From diamond engagement rings to gold necklaces, you can use virtually any piece of high-end jewelry for a collateral loan. Factors that affect the value of your loan include the metal purity, the brand reputation, the inclusion of any diamonds or gemstones, and the overall condition of the piece. Your cash jewelry & loan shop will carefully appraise your item and offer you a loan value for a percentage of your jewelry’s full secondhand price. If you want to ensure fair and accurate appraisals, choose a pawn and loan shop with a GIA-certified gemologist on staff, like Watch & Wares.
Designer Watches
Another luxury accessory that we accept as collateral for a pawn shop loan is designer watches. Brands like Rolex, Omega, Cartier, and Patek Philippe can earn you a significant loan amount, giving you the cash you need while allowing you to ultimately retain ownership of your prized designer timepiece. Like jewelry, your watch loan value will be decided based on factors like brand reputation, model rarity, overall condition, current market demand, and the inclusion of any original packaging and documentation.
Used Luxury Handbags
As many designer handbag lovers know, used luxury handbags aren’t just beautiful but also retain their value over time. This makes them suitable as collateral for a high-value pawn shop loan. If you’re in need of quick cash, you can use your pre-owned luxury handbags as collateral rather than having to sell them outright. At Watch & Wares, we accept used luxury handbags from Chanel, Hermes, Louis Vuitton, Saint Laurent, Prada, Gucci, and more. You can even utilize our handbag spa to elevate your item’s condition and, therefore, value before you have it appraised.
Rare Art & Collectibles
Beyond luxury accessories, Watch & Wares accepts rare art and collectibles as collateral for pawn shop loans. These rare items are a passion of ours, and we’re constantly searching for the rarest and finest pieces in the best condition. Items we accept as collateral include rare coins, fine art, Fabergé eggs, and Tiffany silver. If you have a rare, valuable item that you believe could be used as collateral for a loan, get in touch with our team to learn more and schedule an appraisal.
If you’re looking to use your gold jewelry or other luxury goods for a collateral loan, visit Orange County’s most trusted experts in jewelry & pawn shop loans. Watch & Wares accepts all kinds of fine jewelry, designer goods, and rare collectibles as collateral, so you can get same-day cash with any of your valuable accessories. Give us a call today at 714-731-9600 or contact us online to schedule an appointment for a free, no-obligation appraisal with one of our experienced staff or expert gemologists.
