When you are looking for a pawnbroker, you may want to find one that’s near where you live or work, so you can swing by during your lunch break or visit them after work. However, not all pawnbrokers are equal and there are other elements to consider when finding a pawnbroker.
Finding the right pawnbroker for your needs is very important. You need to find a pawnbroker that is an expert in your field.
Why You Need an Expert
The more you learn about any field, the more you realise there is to learn. This is firmly the case with luxury watches, gold, diamonds, and other luxury assets as many elements affect their value.
The pawnbroker will only lend what they are sure of getting back. If they don’t have the customers for the goods or know their actual value, they will likely offer you less.
If you have a luxury item you want to make a loan against, it helps to know the details as small details can significantly affect the price.
Let’s say you were given a pair of solid silver candlesticks as inheritance, and while you don’t want to sell them, you are in a money emergency and few thousand pounds for a month or two would help right now. However, there are a few factors that will strongly affect the price.
- Weight (silver is a precious metal and priced per gram)
- The year it was made
- Where and who it was made by
- Quality and any damage
Non-Experts May Not Provide You With The Best Valuation
A non-expert may see the hallmarks for London and 24 karat silver and offer you the scrap value in a loan. This is the lowest possible value of your goods, and it could be far from the best deal. An expert will look for the maker’s mark as well. As an example, if they see it is a ‘T.G’, and look it up. They will see it was made by ‘Thomas Gilpin,’ a very well-known maker from the Victorian era, with goods for sale at Christie’s and an international following of collectors and buyers. Also, if they look for the year, they will know pieces made post-1750 are worth the most.
The Small Details Matter
Tiny details strongly affect the value of your goods, and you want to ensure that you are getting the best deal from your pawnbroker. This way you also know what the goods are worth if you do decide to sell and may not have to lend against multiple items to get the loan amount you need. When looking for a pawnbroker, find an expert, like Suttons and Robertsons who will be able to value your luxury items such as watches, jewellery and gold accurately.