Pawnbroking FAQs

What is a pledge?

It’s an item of value that’s used as security against a loan.

What is Pawnbroking?

Pawnbroking is the business of advancing loans secured against pledges of personal assets. These can include anything from jewellery, watches and gold to silverware, fine artwork and antiques.

What are the advantages of Pawnbroking?

It provides instant funds while allowing you to retain ownership of your valuable assets. You risk losing your item if you fail to repay by your due date. Your item will be sold to cover the cost of the loan, you will not be liable to repay any shortfall.

How much does a loan cost?

Our Interest Rates vary from 3.5%-6.5% per month. Please see representative example below;

Representative Example: £1000 borrowed for 6 months. Annual interest rate of 72% (fixed). Total amount repayable by one repayment is £1360. Representative 84.96% APR.

How much can I borrow against a pledge?

It depends on the value of the pledged item and we will only lend an amount our customers can afford to repay. Our experts will be happy to give you a valuation as a pledge. If you agree this valuation, this pledge can be exchanged for that specific amount, anything from £500 to £2 million.

How do I redeem my pledge?

The asset is then held for the duration of the pledge contract. You need to bring the pledge contract, the money owed and any accrued interest to the branch where you made the pledge. We’ll then return the pledged asset to you.

How much time do I have to redeem a pledge?

Within our standard six-month contract, you can redeem your pledge at any time provided you repay all outstanding money including the accrued interest. If you do not redeem your item before the expiry of the term your item(s) may be sold. However, you are able to redeem your item(s) at any time prior to the sale of your item(s). 

How quickly can I obtain my loan?

Pawnbroking is a fast, efficient service with many personal asset loans usually being agreed within an hour. Certain items such as jewellery, cars, watches, artwork and antiques may require additional expert valuation, and this typically takes two to three days. You risk losing your item if you fail to repay by your due date. Your item will be sold to cover the cost of the loan, you will not be liable to repay any shortfall.

Is my transaction with Suttons & Robertsons private?

You can rely on our discretion. Confidentiality, integrity and trust are all extremely important factors to us, and why our clients return to us again and again. Privacy Policy

How is gold valued?

Gold is traditionally sold by the pennyweight. Twenty pennyweights (DWT) equal 1 Troy ounce. This weight 31.1 grams.

“Carats” stamped in the hallmark indicates the gold content within an item.  The percentage of gold in jewellery ranges from 24 carat (24ct) for pure gold down to nine carat (9ct) that only contains 37.5% of the metals are gold.

How are diamonds valued?

These gemstones are valued according to their cut, clarity, carat weight and colour:

  • The cut determines a diamond’s brilliance
  • The clarity is assessed for the diamond’s natural inclusions (flaws) so those with fewest flaws receive the highest grades of clarity
  • The colour is evaluated on a scale ranging from colourless to yellow/brown with fancy exceptions such as pink and blue
  • The carat is a specific measure used for weighing diamonds

How is silver valued?

This depends on the item. Silver may be valued solely for its weight, but its hallmark, condition, pattern, desirability, and any antique value can also influence its value along with comparative recent prices. Pure silver is also called ‘Sterling’ silver and bears a lion hallmark that proves it is 92.5% pure.

What is a Hallmark?

British hallmarks are impressed into precious metals and typically include an assay office mark that certifies its purity, a letter representing the date and a maker’s mark. Hallmarks originated in 14th Century London to represent the mark of Goldsmith’s Hall of Worshipful Company of Goldsmiths. The Hall still maintains a record of all British hallmarks.

How are watches valued?

Each watch is carefully assessed on its own merits. We consider the watchmaker, the desirability, the quality of craftsmanship and the retail value established for it.  However, the actual loan amount will depend on many factors with the valuation dictated by:

  • Brand, Model or Maker: all of these are important factors that can drive value. Limited editions of either vintage or modern watches are deemed of higher value, bringing investment and collector’s interest as well.
  • Condition:  the overall working and aesthetic condition can affect a watch’s value. If it’s dented, scratched, repaired or has replacement parts will reduce its worth as a pledge or a potential sale.
  • Age: Contemporary and modern watches have a higher value when they are newer. Vintage watches are valued on their scarcity and condition.
  • Provenance: If you have the original box, a certificate of sale or any papers that record information about the watch, this adds value. Some notable owners of watches in the past have found that being able to prove provenance gives a timepiece added value and unique context

Our valuers combine their own current market knowledge with insights from manufacturer databases whenever available. This includes Rolex and Breitling repair centres as well as auction records, from auction houses themselves and third-party data collectors. We also look for a match with registers of lost and stolen items as part of our Due Diligence.

How is artwork valued?

The value of these is calculated o:

  • Piece
  • Style
  • Period
  • Condition
  • Recent comparable sales
  • Provenance (if available)

How are antiques valued?

Antiques are defined as over 100 years and less than 50% restored. Vintage is usually 50-100 years and from a specific era.

  • Piece
  • Style
  • Period
  • Provenance
  • Condition
  • Fabricator (if known)
  • Desirability
  • Recent comparable sales

Is Pawnbroking regulated?

Yes. As a pawnbroker, our business is regulated by the Financial Conduct Authority (FCA). We are therefore required to comply with the applicable rules and guidance issued by the FCA, Consumer Credit Act 1974 and all supporting Consumer Credit Regulations.