Quickly accessing capital at critical moments helps people solve problems and secure opportunities. For luxury watch collectors, gaining access to the equity stored in their watches without selling them is an unmet need, as most financial institutions don’t accept them as loan collateral. Conversely, Borro by Luxury Asset Capital, is a collateral lender helping people unlock the equity in their watches without having to sell.
Since 2008, Borro has provided collateral loans to its clients that supported starting up or running businesses, funding investment activity, expanding luxury asset collections or dealing with unexpected expenses relating to taxes, healthcare, litigation, or loss of income. Since its founding, the brand has loaned over one-half billion dollars to more than fifteen thousand clients, in the process becoming the nation’s largest privately-held provider of non-bank loans that use borrowers’ luxury assets as collateral.
Where traditional generally don’t accept watches as loan collateral, Borro recognizes their enduring value as hard assets that can secure for five, six, and in some cases seven figure loans.
While Borro accepts a wide range of luxury assets as loan collateral, luxury watches are consistently the most frequently used to secure loans. Borro accepts Rolex, Patek Philippe, Audemars Piguet, A. Lange & Söhne, Hublot, Richard Mille, Cartier, Omega, Piaget and more. It also accepts a wide range of other assets like fine jewelry collections, designer handbags, fine art, and classic cars.
Unlock Equity, No Sale Required
One of the most difficult issues facing someone looking to unlock the equity of a watch or watch collection is that it can usually only be done through a sale— a process that can be both tedious and unnecessary, especially when one is looking to meet a short-term cash flow challenge. Borro helps people meet this challenge by allowing owners of fine watches and other luxury assets to unlock the equity of those assets by using them as loan collateral – no sale required.
A New and Convenient Way to Access Capital
Securing funds via a Borro collateral loan or line of credit represents a proven way to get cash, quickly, confidentially, and with minimal paperwork. The process for gaining a short-term loan is straightforward. Assets are either shipped fully insured or can be brought into a company office in New York City, Denver, or Beverly Hills. Upon inspection of the assets, a maximum loan value is determined and upon acceptance of the loan terms a loan contract is signed and funds are wired into the borrower’s bank account. The asset(s) are then stored in a fully-insured, secure vault to be returned once the loan is repaid.
To learn more about unlocking equity in your watches, you can visit Borro’s website, here.