A situation may arise where you want to sell pieces from your watch collection. Maybe you have been presented with an investment opportunity and you are short on liquid assets, or you have a family emergency and need funds quickly, or you are simply looking to freshen up your collection. You may think a “fire sale” of your watches is the only solution. In reality, there are three ways to raise capital from your luxury watches without sacrificing the asset itself or its value.
Borro provides three types of luxury asset-backed loans. You can borrow from $5,000 to $10 million using its Sale Advance Loan, Bridge Loan, or Term Loan. The process for all three is private, fast and safe. The company does not require credit checks and funds can be received in as little as 24 hours. Throughout the Borro process, your watches are fully insured and will be stored in highly secure storage facilities.
Determining which loan is best for you comes down to whether or not you want to sell your watches. If you are sure you want to put your timepieces up for sale, the Sale Advance Loan is the product for you. Borro will provide up to 70% of the estimated sale price in advance while it manages the sale of your watches. Borro leverages the relationships with its global network of auction houses and private sellers to place assets in the best sales channels. The benefits are immediate liquidity and the maximum return once your pieces are sold.
If you don’t want to sell your watches, and you only anticipate needing the loan for a short period of time, the Bridge Loan is your best option. These loans are for 6-month terms but can be redeemed at any time without early repayment penalties. There is also an option to renew loans at the end of the contract term.
The final option is the latest addition to Borro’s suite of products. Term Loans are perfect for collectors who need funds for a longer time period. The minimum loan value is $100,000 and loans can be secured for 18, 24, or 36 months. Term Loans, like all of Borro’s loans, can be secured against other luxury assets as well. Borro accepts luxury and classic cars, fine art, jewelry and other high value assets as loan collateral.
If you’re unsure about Borro’s expertise with luxury watches, rest assured. The company has loaned over $30 million against high-end timepieces from Audemars Piguet to Cartier. The company has loaned over $2 million against Patek Philippes alone. Not only does the company have licensed in-house specialists with decades of experience at the leading auction houses, it also has an international network of 300 qualified appraisers and dealers to rely on for accurate estimates. This means you won’t lose out on value, as you might with a “fire sale.”
Sale Advance Loans, Bridge Loans, and Term Loans are fast, convenient and responsible. As three of the most innovative solutions around, they can help you achieve your financial goals and objectives and on your terms.
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