Historically high unemployment rates and declining business activity are pushing people to find new sources of cash in order to weather the coming months of economic uncertainty. An increasingly popular strategy is to tap the equity of many people into one or more luxury watches they own through a collateral loan. In fact, luxury watches are the most frequently used form of collateral for loans. Borro, leading provider of collateral loans guaranteed by luxury assets.
What is a collateral loan? Collateral loans are a reliable, fast, and easy way to access cash without a credit check, credit history, or financial disclosures. Instead, individuals can obtain a loan using luxury assets such as luxury watches they already own, or other assets including luxury and classic cars, quality jewelry, and watches. diamonds, gold and precious metals, designer handbags and accessories, premier auction house warranties, luxury real estate, and even guaranteed sports and entertainment contracts. Many don’t realize that owning these assets can make the most flexible, convenient, and immediate financing options available when cash flow needs are unforeseen and urgent. Borro is the nation’s leading provider of guarantee loans, having provided $ 450,000,000 in loans to more than 15,000 investors, entrepreneurs, small business owners and others.
What are collateral loans on a luxury watch or collection? Luxury watch owners, collectors and retailers can obtain standard loans or line of credit loans from Borro, for amounts ranging from $ 2,500 to over $ 5,000,000. Borro allows customers to capitalize on the true value of their luxury watch (s) without the wait and, more importantly, without having to sell. Borro’s in-house specialists have a combined experience of over 80 years with luxury assets. They are experts in this field with close relationships with auction houses and a strong network of appraisers, traders and dealers who give individuals the peace of mind that they can trust Borro with their businesses. luxury watches.
Who can get a loan on their luxury watch? Borro has made this financing option available to anyone who owns only one luxury watch or to people with a collection of watches. The capital can be used for personal or professional purposes with liquidity available in just 48 hours.
What are the criteria for obtaining a collateral loan on a luxury watch? A Borro collateral loan offer is based on the secondary value of the luxury watch. Value is determined by make and model, condition, rarity, age and provenance. Additionally, Borro digs into market feedback and leverages information from manufacturers, auction house records, and third-party data collectors. As part of Borro’s diligence, they also review lost and stolen property records.
Brands accepted as warranty include, but are not limited to, Rolex, Patek Philippe, Audemars Piguet, A. Lange & Söhne, Hublot, Richard Mille, Cartier, Omega, Piaget and more.
Who is Borro? Borro, a brand of Luxury Asset Capital, is the leader in confidential loans that use the borrower’s luxury assets as collateral. We are a timely alternative to traditional loans which are often too slow, invasive and expensive or, in some cases, unavailable. We unlock equity in a wide range of luxury assets that are high value but illiquid and execute transactions of thousands to millions of dollars in as little as one business day.
We were created to provide capital to individuals at critical times because we can be trusted to act quickly and confidentially to meet individual financial and business deadlines. We have loaned to over 15,000 clients, providing over $ 450 million in loans since our founding over ten years ago. Borro’s standardized levels of transparency, convenience and service make Borro the leader in trusted alternative lending solutions.
For more information, please visit: https://borro.com/assets-we-accept/luxury-watches/