Life rarely travels in a predictable, straight line. Situations can arise—family emergencies, investment opportunities and cash flow gaps, among others—that require significant amounts of capital on short notice. You may consider a traditional loan or selling your one of your prized watches but there is an alternative option – Luxury asset loans. Borro allows you to borrow from $5,000 up to $2 million in just a few days. The process is safe, fast, respectable, private—and very dependable.
Borro has loaned over $30 million against luxury watches from Audemars Piguet to Cartier. It has loaned over $2 million against Patek Philippes alone. The largest watch loan to date was $135,000 against a Patek Philippe Platinum Manual Wound Perpetual Calendar with Chronograph. In addition to watches, Luxury Asset Loans can also be executed against jewelry, fine art luxury cars and more. Licensed appraisers determine the fair market value of your asset, after which an appropriate loan is made, often within a day or two. Borro will store your timepiece or other asset in a highly secure location and it is fully insured for the duration of the loan. Once you repay the loan and any interest that has accrued, your asset is returned to you. Loans against watches have numerous advantages over selling them. Most obvious, of course, you don’t have to lose precious pieces of your collection. But importantly, the time and commissions involved in putting the item on the market are eliminated. The goal is simply to temporarily turn a given asset into cash. With a loan, even the most prized possession isn’t gone; it is available once more as soon as the loan amount is repaid. Moreover, you avoid selling a watch quickly under “fire sale” circumstances, which might result in a significant loss of real value.
Another plus to Luxury Asset Loans is that they do not rely on, or impact, personal credit scores. The transaction is private so no details are reported to third-parties. Loans are typically for six months but they can be renewed. There are no early repayment fees.
If you’re wondering under which circumstances people typically take out Luxury Asset Loans, it’s rarely due to financial distress. Especially in today’s economy, opportunities arise with short lead times and only limited windows of participation. Individuals of means — many of whom have spent years building their net worth and whose wealth is tied up in stocks, real estate and various expensive possessions — need cash quickly in order to take part. Luxury Asset Loans give them the flexibility they need to make the move, realize their financial gain, and repay the loan with profit left over. With Luxury Asset Lending, you have an avenue beyond banks, family and friends for obtaining cash quickly. Moreover, your valuable and treasured assets remain secure. Luxury Asset Loans are fast, convenient and responsible. As one of the most innovative solutions around, they can help you achieve your financial goals and objectives, on your terms.
If you’d like to take a loan against a piece of your collection, give Borro a call at 888-988-7926 or get started here.
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