Many of our clients are surprised by how much their assets are worth when they come in to borrow against collateral. Gold, especially, is at an all-time high, and we’ve also seen clients stunned by the value of their luxury watches, Chanel and Hermès handbags, and luxury jewelry, including diamonds. Most of us have assets we never even considered as assets—old jewelry or special occasion jewelry that we rarely ever wear, last season’s “it” bag, a cherished piece from a luxury watch collection that is sitting pretty in a storage box. These little gems (sometimes literal gems) all hold incredible potential when cash is tight.
At Qollateral, we are passionate about collateral loans for this reason. It just makes sense. You likely have an asset tucked away already, so you might as well make it work for you and get yourself an instant and confidential cash infusion. Borrowing against an asset is actually a very smart financial decision in a lot of situations. Most likely, if you’re in a tight spot but expect cash flow to increase within a matter of months, a collateral loan is a safe, fast, and easy bet.
Borrow Against Assets: Our Top 6 Items
We’ve come up with a list of the best assets to borrow against. The list is by no means exhaustive, but it can give you some ideas on what to bring in for a collateral loan.
1. Luxury Watches
Luxury watches are an excellent financial investment because they retain their value beautifully, and if you are lucky, can even appreciate in value. Check out our top 5 watches to invest in for 2023 to see which luxury watches we’re particularly fond of lately for their financial savvy and stunning design.
2. Luxury Handbags
Our top two luxury handbag brands to borrow against are Chanel and Hermès. These two brands hold their value better than other luxury handbag brands, and their designs will never go out of style. Be sure to bring along any of the accompanying documents (receipt, certificate of authenticity, care instructions) as well as any packaging (the original box and dustbag, even the shopping bag if you have it) to maximize the value of your luxury handbag for a collateral loan
3. Luxury Jewelry
We also accept non-branded jewelry for the weight of gold or silver, as well as for the value of any diamonds or gemstones. But if you have luxury brand jewelry, such as Tiffany & Co. or Van Cleef & Arpels, this is where you can unlock major cash. Luxury brand jewelry holds its value much better than non-branded. We’ve talked about our top 4 jewelry investments here.
4. Diamonds and Gemstones
Diamonds are a timeless investment. Mined diamonds, also called natural diamonds, will never lose their value because there is only a finite amount of them on Earth. Lab-grown diamonds, while real diamonds, do not hold the same financial value. In fact, we do not accept lab-grown diamonds for collateral loans at Qollateral. Here’s our guide on how to borrow against your diamonds. The top 3 gemstones for cash loans against assets are sapphires, rubies, and emeralds.
5. Numismatics and Collectibles
We accept numismatic coins with certification from the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC). Surprisingly, many of us who have a collection of numismatics don’t even realize their value as a collateral asset. Often, these collectibles are in storage and they’re out of sight, out of mind. Consider this your reminder that if you own any graded U.S. coins, you’re sitting on some untapped funds.
6. Precious Metals, Especially Gold
Gold is at an all-time high right now, and for collateral loans, gold is one of your best bets. Our clients are consistently surprised by how much their gold is worth. We also offer the option of a revolving equity line of credit on gold, including gold jewelry, watches, bullion, and coins. Instead of one instant cash payment, you can access same-day cash payments up to the total value of your gold over an extended period of time. It’s a great alternative to a collateral loan. We’ve coined this option the GELOC, a spin-off of the HELOC (Home Equity Line of Credit), a riskier and more complicated process. The GELOC, like the collateral loan, is fast, easy, and completely confidential with no tedious paperwork or credit checks.
We hope this gives you some ideas of what you might already have on hand when you need to borrow against assets with Qollateral. If you’re unsure of the value of your items, we encourage you to book an appointment for a confidential, no-pressure appraisal. If you decide you would like to move forward with a collateral loan, we will provide you with a cash payment or bank wire transfer on the spot. If not, that’s ok too! You’ll walk out empowered with the knowledge of the value of your assets.
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