The Rolex Watch as a Source of Financial Liquidity
August 18, 2020 (PRLEAP.COM) Business NewsAn Air Force veteran recently learned of the power of a Rolex watch to appreciate in value. He brought the 1971 Rolex Oyster Cosmograph that he purchased while stationed in Thailand during the Vietnam War to a taping of the PBS Antiques Roadshow program in West Fargo, North Dakota in January, wondering what his Rolex was worth. He paid $345 for the luxury watch and kept it in a safe-deposit box after returning home almost 50 years ago.
While Rolex watches have always been prized for holding their value, what the expert appraiser informed its owner sent him reeling – his watch would sell at auction for between $500,000 and $700,000! This watch's appreciation of over 145,000% was due to unique factors including the rarity of the 1971 Rolex Oyster Cosmograph model and its impeccable condition. However, the value of every Rolex watch is supported by their sophisticated design, high-quality materials, and the meticulous production process its expert Swiss watchmakers follow. Obviously, not every Rolex watch owner will be in the position for such a large financial windfall, but owning a Rolex in good condition can provide a reliable means of liquidity when financial challenges or opportunities arise.
Rolex watches are consistently among the most popular luxury assets used to obtain collateral loans. 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 watches. For example, Rolex watch owners, collectors, and retailers can obtain loans of up to 75% of the current resale value of their watch or watches from collateral lenders such as Borro in only a few days. "The Rolex brand is so well known, respected, and always in high demand," said Borro's chief underwriter, Richard Shults, GG (GIA). "This generally makes Rolex watches eligible for the highest loan to value (LTV) ratios we provide as a lender."
Rolex 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 Rolex watch or watches without the wait, and, more importantly, without the need to sell. Borro accepts all Rolex models, including the Rolex Cosmograph Daytona, Rolex Sea-Dweller, Rolex Submariner, Rolex GMT Master, Rolex Explorer, Rolex Milgauss, Rolex Air-King, Rolex Yacht-Master, Rolex Oyster Perpetual, Rolex Datejust, Rolex Day-Date, Rolex Pearlmaster, Rolex Sky-Dweller, and Rolex Cellini. 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 Rolex. Borro also accepts other luxury watch brands as loan collateral, including Patek Philippe, Audemars Piguet, A. Lange & Söhne, Hublot, Richard Mille, Cartier, Omega, Piaget and more.
Borro is the leading national provider of collateral loans, having provided nearly $450,000,000 in loans to over 15,000 investors, entrepreneurs, small business owners, and others. Borro unlocks 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.
For more information or to apply for a collateral loan, please visit www.borro.com