Pawning Jewellery in Jo’burg: How to Get the Best Deal
What’s involved and how to get the best deal when pawning jewellery in Jo’burg – a fast, reliable way to secure funds.
Pawning jewellery in Jo’burg can be a quick, discrete and reliable way of raising funds – provided you use a reputable financial services provider.
Asset-based lending has grown massively over the past decade. Today, pawning personal assets of value, like jewellery, is an accepted way of gaining fast access to funds – for both individuals and small businesses.
We offer a round-up of general tips for ensuring you get the best deal when pawning jewellery in Jo-burg, or anywhere else.
Just as you’d avoid a dodgy-looking pawnshop or alleyway in person, avoid dodgy-looking websites and offers!
We recommend opting for a loan provider that:
Before pawning jewellery, it’s worth having it appraised by a jeweller. This will give you a rough guide on what to expect (and verify whether the jewellery is of significant value).
However, don’t expect to get the full appraised value of a piece as a loan.
A loan provider will offer a loan amount that’s a percentage of the jewellery’s estimated market resale value.
The same can be said of selling jewellery. It’s rare to secure a price anywhere close to the appraisal value you get from a jeweller or insurer.
This is because the jewellery loses market value as soon as it becomes “secondhand” rather than new, and because the market for jewellery is highly competitive. Especially for pre-owned jewellery, buyers are swamped with choices!
The market value of jewellery will depend on several factors, including:
Along with – or even instead of – getting a formal appraisal, have a look online.
You can gauge the demand for pieces similar to yours, and see what kind of prices they’re attracting. Dozens of online marketplaces offer pre-owned jewellery for sale.
A piece that’s still in its original box, with an invoice as proof of purchase, is likely to secure the best loan offer.
It’s best to avoid any lender that doesn’t ask for proof of purchase, along with a copy of your ID and proof of address.
A lender that doesn’t require this documentation might be knowingly trading in stolen goods (and that’s not the kind of lender likely to protect your interests).
Pawning gold, diamond or other valuable jewellery makes it possible to unlock its value, without having to sell.
This means no waiting or uncertainty. You can get the needed funds almost straight away.
And once you’ve repaid a loan, the jewellery still belongs to you. So you can pass it down to younger generations, sell it when you have time or even use it to secure another loan.
A few other advantages of pawning an asset, compared to getting a traditional loan:
To start the process, simply give us some details of the jewellery you want to pawn. We can then arrange to have it appraised at our Johannesburg branch.
We’ll make a formal loan offer.
If you’d like to proceed, we’ll take the jewellery for storage in a highly secure facility and transfer the funds to your account electronically.
Once you repay the loan, we’ll return the jewellery to you, in exactly the condition you left it.
Lamna is a registered financial services provider with branches in Cape Town, Johannesburg, Durban, Gqeberha (Port Elizabeth), Pretoria and Gaborone.
We specialise in providing quick cash loans against a wide range of assets. Our terms are favourable, with competitive interest rates, and we typically process applications within 24 hours. Lamna is registered with the NCR.
For more information about pawning jewellery in Jo’burg, contact us on 086 111 2866 or simply complete and submit our online application form.
Loan Amount | Repay Terms | Monthly Repayment | Total Repayment | Initiation Fee | Monthly Fee (Interest + Service charge) |
APR |
---|---|---|---|---|---|---|
R10 000 | 3 months | R568.40 | R12 902.20 | R1 197 | R560 | 60% |
What’s involved and how to get the best deal when pawning jewellery in Jo’burg – a fast, reliable way to secure funds.
What to know if you’re considering selling gold jewellery, including how to calculate its scrap value and some alternatives for securing funds.
How to ensure you get a good deal when selling gold and diamond jewellery in South Africa.
The post Pawning Jewellery in Jo’burg: How to Get the Best Deal appeared first on Lamna.
Source: Funding Lamma
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