Luxury Watches are an Untapped Source of Liquidity that Provide Immediate Cash
May 12, 2020 (PRLEAP.COM) Business NewsHistorically high unemployment levels and declining levels of business activity are driving people to find new sources of liquidity in order to ride out the next several months of economic uncertainty. An increasingly popular strategy is tapping the equity many people have in one or more luxury watches they own through a collateral loan. In fact, luxury watches are the most frequently used form of collateral for collateral loans through Borro, the leading provider of collateral loans secured by luxury assets.
What is a collateral loan? Collateral loans are a reliable, fast, and easy way to access cash with no credit check, credit history, or financial disclosures. Instead, individuals can get a loan by using luxury assets such as luxury watches that they already own, or other assets including luxury & classic cars, fine jewelry & diamonds, gold & precious metals, designer handbag & accessories, premier auction house collateral, luxury real estate, and even guaranteed sports & entertainment contracts. Many don't realize that owning these assets can make the most flexible, convenient, and immediate funding options available at moments when cash needs are unexpected and urgent. Borro is the leading national provider of collateral loans, having provided $450,000,000 in loans to over 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, in amounts ranging from $2,500 to over $5,000,000. Borro empowers clients to capitalize on the true value of their luxury watch or watches without the wait, and, more importantly, without the need to sell. Borro's in-house specialists have a combined 80+ years of experience with luxury assets. They are experts in this field with deep auction house relationships and a strong network of appraisers, traders, and dealers giving individuals peace of mind that they can trust Borro with their luxury watches.
Who can get a loan on their luxury watch? Borro has made this funding option available to anyone with just a single luxury watch or to people with a collection of timepieces. The capital can be used for any personal or business reasons with cash available in as little as 48 hours.
What are the criteria to get 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 based on the brand and model, condition, scarcity, age, and provenance. In addition, Borro delves into market feedback and mines insights from manufacturers, auction house records, and third-party data collectors. As part of Borro's diligence, they also review registers of lost and stolen items.
Brands accepted as collateral 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 Luxury Asset Capital brand, is the leader in confidential loans that use the borrower's luxury assets as collateral. We are a timely alternative to traditional loans that are often either too slow, invasive & burdensome or, in some cases, unavailable. We unlock the equity in a wide range of luxury assets that are high in value but low in liquidity and execute transactions from thousands to millions of dollars in as little as one business day.
We were established to provide capital to individuals at critical moments because we can be trusted to move quickly and confidentially to meet individual and business financial deadlines. We have been a lender to over 15,000 clients, providing over $450 million in loans since our founding over a decade ago. Borro's industry-standard-setting levels of transparency, convenience, and service are making Borro the leader in trusted, alternative loan solutions.
For more information, please visit: https://borro.com/assets-we-accept/luxury-watches/