Brits take advantage of valuable watches to access finance
An increasing number of individuals have realised that they are sitting on a potential wealth of assets, including valuable watches. borro, the UK personal asset lender, has seen a 122% rise in the average loan provided against watches over the past two years. A vast array of high-end time pieces from some of the best luxury watchmaking firms in the world, have been coming through borro's doors.
Paul Aitken, CEO of borro.com, said: "It seems more and more people are looking to alternative sources of finance for accessing cash. Many people own valuable watches, not realising their true value however, they could be reaping the benefits available from lending against assets like these. borro provides a solution with quick access to finance."
Example of watches currently in borro's vaults:
Asset - Loan Value
1 x 18k White Gold Cartier Ballon Blue watch £35,000
1 x Chopard, diamond and 18 carat white gold gentleman's wristwatch £35,000
1 x Patek Philippe 5960P £30,000
1x Patek Philippe 18ct gold gents wristwatch £26,000
1 x Girard Perregaux Vintage Tourbillon Magistral Watch £25,000
1 x Breitling Bentley Mulliner Platinum Tourbillon wristwatch £20,000
1 x gentleman's IWC 18ct gold wristwatch £18,000
1 x Audemars Piguet Royal Oak; Gold case with diamond bezel £17,949
1 x Piaget gentleman's diamond set white gold watch £15,000
1 x Patek Philippe 24 £14,359
Paul Aitken continued "Most of our clients use borro to facilitate a business transaction or opportunity, to fund surveys or pay other fees relating to property refinancing. Other reasons that we see clients coming to borro include supporting an irregular income; funding holidays and school fees; and helping to pay tax bills and other unexpected bills and fees.''