A luxury timepiece is an expensive asset with an excellent resale value. It can be used to raise equity quickly and easily, without having to relinquish ownership.
Get a loan against a luxury watch in Cape Town with Loan Against. By using Loan Against:
- funds are available on the same day
- loans are commensurate with a percentage of the appraised value of the watch
- no credit check, proof of income or affordability assessment is required to approve the loan.
When to get a loan against a luxury watch in Cape Town
A luxury watch loan leverages the value embedded in the asset. It’s the ideal solution for short-term cash-flow issues faced by small businesses and individuals.
When you can’t cover emergency expenses or need a quick injection of capital to pay for a holiday or one-off purchase, getting a loan against a luxury watch ticks the right boxes.
The only proviso is you must be able to repay the borrowed funds within the agreed timeframe. If you can’t and the terms of the loan are not extended, the watch is sold and the proceeds used to cover the losses.
How to get a loan against a luxury watch in Cape Town
LoanAgainst offers an easy online application process. Simply enter your details in the online form and tell us about the watch – the brand, model, condition and any other relevant information.
We’ll get back to you with a provisional loan offer. If the amount is satisfactory, the watch is brought to our Cape Town branch, together with a copy of your ID and proof of address.
An assessor physically examines the watch and a firm offer of a loan is given to you. If all is in order, the paper work is drawn up and signed.
The luxury watch is handed over and safely stored in a high security vault. The funds are transferred into your bank account while you wait.
Luxury watches as assets
Rare and unique timepieces by Rolex, Cartier, Patek Philippe and Audemars Piguet are always in demand. Collectors are prepared to pay top dollar. Recently, a 1955 18k pink gold Patek Philippe timepiece sold for US$7.68 million at auction.
Other than the brand, factors determining resale value and the loan you can get against a luxury watch in Cape Town include these factors.
Complications Displays on the face of the watch denoting the date, time zones, moon and sun phases.
Embellishments The types of precious metals and gem stones used in the manufacture and decoration of the casing, display and strap.
Movement The inner workings of the watch. Watches with moving parts polished and assembled entirely by hand are more valuable than pieces with outsourced assembly of movement.
Rarity Limited edition timepieces are more sought after and more valuable.
Condition A watch that is unblemished, in perfect working order and in its original box attracts a higher price.
Advantages of using a luxury watch to secure a loan
Luxury watch loans through LoanAgainst are completely confidential. Credit agencies are not notified of loan agreements and transactions have no impact on future creditworthiness.
Getting a loan against a luxury watch in Cape Town is low risk. When the funds are repaid, the watch is returned. If the loan is not repaid, the only asset pursued in lieu of the borrowed money is the watch.
When you raise cash against a watch through LoanAgainst, you’re assured of competitive interest rates, transparent terms and flexible repayment periods.
We offer market-related loans against assets, with no hidden fees or early settlement penalties.
For more information about getting a loan against a luxury watch, simply complete and submit our online application form.
