RELEASING THE VALUE OF LUXURY WATCHES
Luxury watches, whether owned for their beauty and craftsmanship or as an investment, can hold notable value. Borro Private Finance offers a range of bespoke financing solutions that enable collectors and enthusiasts to immediately unlock the worth of high-end luxury watches, without necessarily needing to sell.
SALE ADVANCE LOANS
Borro Private Finance diligently manages the consignment of a client’s luxury watch(es) and provides immediate funding ahead of the sale. Leveraging our extensive network of experts and auctioneers, we excel at identifying the best venue or venues that yield the highest value for each asset. Once the item(s) has sold, the client receives any remaining funds, less interest and fees.
A Sale Advance Loan is ideal for those who have decided to sell but may not have experience or interest in overseeing the process and need immediate access to capital.
Loans of up to 60% of the appraised value are secured against a client’s luxury watch(es), with typical terms of 3 to 24 months. Assets are kept in highly secure storage facilities and at the end of the loan period, once the loan and accrued interest have been paid in full, assets are safely returned.
Secured Loans are an excellent option for clients who need temporary access to liquidity yet aren’t looking to sell outright, allowing them to still leverage the value of luxury watches that hold personal significance or could appreciate over time.
FREQUENTLY ASKED QUESTIONS
Gain additional insight into the advantages and disadvantages of selling luxury watches.
Where should I sell a luxury watch?
If you are researching how to sell your luxury watch, in addition to peer-to-peer sales, there are a number of methods available:
Auction houses offer a great platform to sell luxury watches because they attract a large audience, give items advertising exposure and should there be more than one interested party, can help an item exceed its estimated value. Antiquorum, Bonhams, Christie’s and Sotheby’s are the biggest watch-auction players.
However, due to the seasonality and schedules of auction houses, it may take weeks for an item to come to sale. If there is a more pressing need for capital, Borro Private Finance provides prompt access to funds while your watch awaits sale or until the loan is repaid.
Specialist watch collector (horology) magazines such as Revolution have forums and classifieds advertising luxury watches. Since this audience is comprised of watch enthusiasts, buyers are likely to give you a higher price than a dealer. At the same time, this requires a savvy seller. At Borro Private Finance, we provide appraisal expertise to earn the highest value on a client’s behalf.
When is the best time to sell a luxury watch?
Often due to financial pressures, many luxury watch owners are compelled to sell their pieces before they have reached their potential investment value. Yet, when forced into a quick sale, sellers frequently miss out on receiving the best prices for their items.
Many luxury watches have great investment potential. As such, it may be more beneficial in the long term to keep possession of a luxury watch while it appreciates and wait until the most lucrative deal can be agreed. Roberto Chiappelloni, owner of Manfredi Jewels, considers that “if you want to sell a new watch and realize a return on your investment, you have to wait about 20 years.” Though this is dependent on each asset, it is generally preferable to keep hold of your valuables as long as possible.
Borro Private Finance offers loans secured against valuable watches, giving much needed financial support, while allowing clients to ultimately retain their assets.
What are the alternatives to selling my watch?
In the past, alternatives to selling luxury watches have been limited, such as unsecured loans, which depend on a good credit rating and incur large monthly payments over long time periods. With our asset-secured loans, Borro Private Finance offers a refreshing new option for extracting the value from luxury watches that keeps clients safe in the knowledge that their investment will be returned once the loan period is over. Moreover, Borro Private Finance transfers funds immediately after an application is accepted.
LUXURY WATCH INSIGHTS & ARTICLES