Luxury Asset
Sale Advance Loans

Provides an initial advance of capital
while Borro experts manage the auction sale of your
luxury assets and maximise the sale value for you.

  •   PERSONALISED SERVICE

    Borro will manage the sale of assets from appraisal to consignment. We leverage our relationships with auction houses and private sellers to maximize sales value for you.

      IMMEDIATE LIQUIDITY FOR ASSETS

    Borro will provide clients with an advance of up to 70% of the estimated sale price of the luxury asset. You will get the funds you need quickly, without having to rush into a sale.

      100% PRIVATE

    All of your personal information is kept confidential and Borro does not conduct credit or income checks on clients. Throughout the entire process your information is always kept safe and secure.

    Minimum APR: 13.1%, Maximum APR: 19.8%, Representative APR: 18.8%, Term: 6 - 36 months

    Representative Sale Advance Loan Example
    Loan amount: £50,000
    Rate of Interest: 17.88% per annum (fixed)
    Rate of Interest: 1.49% per month (fixed)
    Total amount of credit: £50,000
    Representative APR: 18.8%
    Duration of the agreement: 6 months
    Total amount payable: £54,470
    Repayment of credit: one repayment of £54,470 in month 6

  • RATES STARTING AT 1% PER MONTH ON YOUR ADVANCED FUNDS

    A Sale Advance Loan consists of a monthly fixed rate of interest, which means your monthly interest payment will never increase. The fixed fee is determined by the particular details related to the sale of the luxury asset.

    BORRO SALE COMMISSION STARTS AT 10% OF THE FINAL SALE PRICE OF YOUR LUXURY ASSET

    Taking advantage of Borro's market intelligence for the sale of your asset means you can maximise the final sale price. Borro will charge between 10-20% of the final sale price of your luxury asset, as a commission for managing the sale through the optimal channel.

    ALL COMMISSIONS AND INTEREST PAYMENTS ARE TAKEN FROM THE FINAL SALE AMOUNT POST-SALE WITH NOTHING PAYABLE UP-FRONT

    We make it as easy as possible. You don't need to make any up-front payments since all commissions and interest payments are taken from the final sale price of your luxury asset.

    Representative APR: 18.8%

    Representative Sale Advance Loan Example
    Loan amount: £50,000
    Rate of Interest: 17.88% per annum (fixed)
    Rate of Interest: 1.49% per month (fixed)
    Total amount of credit: £50,000
    Representative APR: 18.8%
    Duration of the agreement: 6 months
    Total amount payable: £54,470
    Repayment of credit: one repayment of £54,470 in month 6

  • What kind of assets does Borro accept as collateral for a loan?

    Borro accepts the following types of luxury assets:

    •  

      Fine Art & Antiques

    •  

      Classic & Luxury Cars

    •  

      Jewellery & Diamonds

    •  

      Luxury Watches

    •  

      Gold & Precious Metals

    •  

      Luxury Handbags

    •  

      Fine Wine

    Borro has also provided loans on other types of assets ranging from memorabilia to musical instruments. Please be sure to also view our FAQ that lists which assets Borro does not accept.

    What kind of assets does Borro not accept?

    Borro does not provide loans on:

    •  

      Electronics

    •  

      Stocks & Bonds

    •  

      Animals & Livestock

    •  

      Construction Equipment

    •  

      Firearms

    •  

      Assets that you have not fully paid off

    •  

      Assets that are not fully owned by you

    How much can I borrow?

    Borro offers loans from £5,000 to £5,000,000.

    Is there a maximum or minimum loan term?

    The term for Luxury Asset Sale Advance loans is based on the expected sale date.

    Who will value my assets and determine how much I can borrow?

    Borro has an in-house team of valuers certified by organisations such as The Royal Institute of Chartered Surveyors, Gemmological Association of Great Britain, and the Gemological Institute of America.

    Our valuers maintain an international network of over 300 qualified appraisers, specialists, and dealers to ensure Borro reaches the most accurate market value possible.

    What exactly do you mean when you say that your loans are based on "market value"?

    "Market value" is the amount of money that you could expect to receive from selling your luxury asset(s) today. This is often different from the "retail value" that may be provided elsewhere.

    The "retail value" of a luxury asset is almost always a higher value than the current "market value" as "retail value" factors in the costs incurred in marketing, storing, and selling the asset to you.

    Luxury assets tend to depreciate compared with their retail value unless they are very rare.

    Can I change my mind?

    Up until your loan agreement is accepted you have complete flexibility.

    Accepted loan agreements may be cancelled up to 14 days after they are signed. Simply send us an email or call us. Fees incurred will be refunded in full. You only pay pro-rata interest (calculated daily) up until the day Borro receives notification.

    When will I receive my funds?

    Once the loan agreement is accepted we can deposit the loan funds immediately via bank transfer.

    How do I repay my loan?

    Your Luxury Asset Sale Advance Loan is repaid by the proceeds of the sale, including any outstanding interest and fees.

    How will I get my assets to Borro for valuation?

    Borro can arrange for a courier to collect assets such as luxury watches and jewellery as well as smaller works of fine art and antiques. Alternatively you may book an appointment to meet our valuers at our offices.

    For larger works of fine art and antiques or luxury and classic cars we will arrange specialised transportation via one of our partners.

    For important pieces or assets in specialised storage we can arrange an on location visit by our valuers.

    What does an appointment at Borro's offices involve?

    When you visit us you will be greeted by your account manager and one of our valuers. Based on the valuer's assessment of your assets you will receive a loan offer.

    Your account manager will then set up your Borro account if you haven't done so already, explain your loan agreement and you can receive your loan funding the very same day via a bank transfer.

    You can book an appointment either by calling us at 0808 278 5547 or on our website. Borro recommends booking an appointment in advance of your arrival however you are welcome to visit our offices for a walk-in appointment if you are near one of our offices.

    Where will my assets be stored?

    All luxury assets are stored under highly-secure conditions with Borro's storage partners. Each partner offers specialised, state-of-the-art storage options so Borro can ensure assets are well taken care of until they are returned to you.

    How does a Luxury Asset Sale Advance Loan differ from a Luxury Asset Bridging Loan?

    A Luxury Asset Sale Advance Loan is when you provide your asset(s) to Borro so we can manage the sale of the asset(s) for you through our global network of auction houses. We offer a loan (advance) to you ahead of the sale whether it be at auction or through a private treaty.

    A Luxury Asset Bridging Loan is where you use an asset as collateral in exchange for a loan without having to sell your asset. At the end of the loan period your assets are returned to you once you have paid the loan amount and accrued interest to Borro.

    How does a Luxury Asset Sale Advance Loan differ from a Luxury Asset Term Loan?

    A Luxury Asset Sale Advance Loan is when you provide your asset(s) to Borro so we can manage the sale of the asset(s) for you through our global network of auction houses. We extend a loan (advance) to you ahead of your asset(s) sale whether it be at auction or through a private sale.

    A Luxury Asset Term Loan is where you use an asset as collateral in exchange for a loan without having to sell your asset. At the end of the loan period your assets are returned to you once you have paid the loan amount and accrued interest to Borro.

    What can I do in my Borro account?

    Your Borro account lets you track your loan statements, make and manage payments, view assets we have previously valued, and apply for new loans.

    How do I log in to or create my Borro account?

    Simply visit the sign in page and you can log in or create a Borro account.

    How do I change my Borro account password?

    Simply visit the forgot password page and you can reset your Borro account password.

LUXURY ASSETS WE ACCEPT

  • Luxury watches

    Luxury Watches

  • Jewellery & Diamonds

    Jewellery & Diamonds

  • Fine Art & Antiques

    Fine Art & Antiques

  • Luxury Cars

    Luxury Cars

  • Gold & Precious Metal

    Gold & Precious Metal

  • Fine Wine

    Fine Wine

  • Luxury handbags

    Luxury Handbags

Speak to a specialist

0808 163 9537

Or get started online

  Add Another Asset

 

Application has no impact on your credit score

Borro honoured as a member of the 2014 FinTech50

Since 2008, Borro has provided
£108,604,000 in funding to our clients.

BORRO CLIENT TESTIMONIAL

It was great to get money upfront instead of having to wait for the sale.”
— Jason A.

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