Rare books, coins, medals and silverware are more than generational assets. They’re financial instruments that can unlock rapid access to cash – without the items being disposed of.
LoanAgainst, a niche credit provider in Sandton, accepts antiques as loan collateral. Your high-value items can generate short-term capital that’s repaid in affordable monthly tranches.
Here’s what you need to know about loans against antiques in Sandton.
The ‘how-to’ of loans against antiques in Sandton
LoanAgainst offers a remote loan application process. Contact points are an online application form and dedicated call centre.
You tell us about the antiques and desired loan amount. You also send images of the items intended to secure the loan.
A consultant contacts you with an initial offer. If the amount is acceptable, an appointment is set up at the LoanAgainst Sandton branch.
An appraisal expert, specialising in antiques, determines each item’s fair value. An agreement is signed and the antiques are handed over.
The funds are electronically transferred into your bank account within 24 hours. The antiques are securely stored and released back to you on repayment of the loan.
What are the qualifying criteria for loans against antiques?
There are no qualifying criteria when it comes to loans secured by antiques and other luxury assets.
As long as an applicant is the legal owner of the assets, the items are in good condition and have appraised value, a loan transaction is basically a “done deal”.
Why consider loans against antiques?
This type of short-term loan is designed to cover unbudgeted expenses.
It can be unexpected costs associated with a medical emergency or death in the family. Or, it could be capital required to take advantage of an exciting business or investment opportunity.
As with all loans, the borrowed funds, plus the fees and accrued interest, must be repaid in full by the end of the contract.
If you default on the payments, the antiques are at risk of being sold to recover the losses.
What factors determine available loan amounts against antiques in Sandton?
The available loan amount is commensurate with a percentage of an antique’s appraised value.
Fair market value is determined by an appraisal expert who weighs up four factors:
- rarity – rare items are more in-demand
- authenticity – hallmarks and maker marks validate authenticity
- provenance – the ability to trace an antique’s history
- condition – items without any major defects are more valuable.
Loans against antiques vs. traditional loans
Securing a personal loan from a bank can be tedious and time-consuming. That’s because formal lenders conduct credit checks and affordability assessments – a process that can take several days.
Banks require reams of paperwork to support personal loans, such as payslips, bank statements and, in some cases, written verification of current job status from an employer.
Conversely, loans against antiques are processed almost immediately. Transactions are completely confidential.
LoanAgainst does not assess credit scores, debt status or employment records. The only documents required are copies of the applicants’ ID and proof of residence.
Why use LoanAgainst?
If you’re looking for loans against antiques in Sandton, we offer a quick turnaround, fair and accurate valuations, and competitive interest rates.
We’re a division of a reputable finance provider registered with the National Credit Regulator.
Our online platform is supported by an active call centre and physical branches in Sandton and other major centres in South Africa.
Call us or apply online for a short-term loan against antiques in Sandton now.
