How Does Pawnbroking Work?

At Suttons and Robertsons, we accept items of value as security for a pawnbroking loan and we are pleased to specialise in luxury branded high-value items. These may include watches, jewellery, antiques, fine art and luxury and classic cars.

A pawnbroking transaction is a very simple and straightforward agreement that can be traced back to both Ancient Rome and Greece. Pawnbroking is a smart way to access short-term finance. You simply lodge your item of value with the pawnbroker. This is taken as security against the loan that the pawnbroker then advances to you. Your item(s) are then kept safe for a maximum of six months and are then redeemed by you when you repay your original loan amount together with the agreed interest payment. This is clearly shown in the agreement. Although the contractual term of a pawn agreement is a maximum of six months, and you are under no obligation to keep the loan for the full six months. You can redeem your item at any point during your loan period, from the day after the loan starts to the due date of settlement.

The Pawnbroking Loan Process



When we lend against your assets, whether it be a Rolex watch or a Tiffany single stone diamond set ring, we simply follow one of these paths;

  • Submit an online enquiry form, including all the information that you have and we will respond to you by phone or email
  • Visit us in one of our London stores
  • Call us on 08000 389 839

We will then provide you with an accurate valuation based on the information that you provide.



If the estimated loan value is accepted, the next stage is to bring or send in your items so they can be assessed in person. Most pieces of jewellery or watches can be valued while you wait or within 1 hour of receiving your item(s). For items such as fine art, antiques and luxury and classic cars, the process may take up to 72 hours.


Account Setup

If you are a new customer, we will have to set you up with an account once you have accepted the loan offer. We require two forms of identification for this:

  • Photo ID such as a passport or drivers licence
  • Proof of address such as bank statement or utility bill less than 3 months old

This is a statutory part of the process and will be completed in approximately 10 minutes.



Our loan contracts are for six months. The agreements are regulated by the Consumer Credit Act and we are regulated by the Financial Conduct Authority. The goods held under a contract can be redeemed at any time within the term of the contract, with only the interest which had been accrued to the time of redemption payable.



We release funds the same day via bank transfer.

In order to protect both the pawnbroker and the client, the loan is supported by a pre-contract information sheet. This information sheet clearly sets out the terms and conditions of the loan so that you can take time to make sure you understand the process and are happy to proceed with the loan. Don’t worry if you have second thoughts in the first 14 days of the loan. A cooling-off period allows you to withdraw from your contract.



When your contract comes to an end, you settle your loan with us you and then redeem your item. Don’t forget, you can do this at any time during the six-month loan period. If you reach the end of your contract and you are not in a position to settle your account and redeem your secured item, we will then take care of your account by using your secured item to recover the loan. There will be an opportunity to extend the loan period at the end of the initial six-month period. Simply settle the outstanding interest accrued on your account the loan can be extended.

At Suttons and Robertsons, our integrity is core to our business. We take our industry seriously that’s why we are proud to be a member of the National Pawnbrokers’ Association and adhere to their code of conduct.


Call us on 0800 038 9839 or contact us for a free online quote now.