What is a pledge?
It’s an item of value that’s used as security against a loan.
What is Pawnbroking?
Pawnbroking is the business of advancing loans secured against pledges of person assets. These can include anything from jewellery, watches and gold to silverware, fine artwork and antiques.
What are the advantages of Pawnbroking?
It provides instant funds while allowing you to retain ownership of your valuable assets. You risk losing your item if you fail to repay by your due date. Your item will be sold to cover the cost of the loan, you will not be liable to repay any shortfall.
How much does a loan cost?
Our Interest Rates vary from 3.99%-9.99% per month. Please see representative example below;
Representative Example: £1000 borrowed for 6 months. Annual interest rate of 72% (fixed). Total amount repayable by one repayment is £1360. Representative 85% APR.
How much can I borrow against a pledge?
It depends on the value of the pledged item and we will only lend an amount our customers can afford to repay. Our experts will be happy to give you a valuation as a pledge. If you agree this valuation, this pledge can be exchanged for that specific cash amount, anything from £50 to £1 million.
How do I redeem my pledge?
The asset is then held for the duration of the pledge contract. You need to bring the pledge contract, the money owed and any accrued interest to the branch where you made the pledge. We’ll then return the pledged asset to you.
How much time do I have to redeem a pledge?
Within our standard six-month contract, you can redeem your pledge at any time provided you repay all outstanding money including the accrued interest. If you do not redeem your item before the expiry of the term your item(s) may be sold. However, you are able to redeem your item(s) at any time prior to the sale of your item(s).
How quickly can I obtain my loan?
Pawnbroking is a fast, efficient service with many personal asset loans usually being agreed within an hour. Certain items such as jewellery, cars, watches, artwork and antiques may require additional expert valuation, and this typically takes two to three days. You risk losing your item if you fail to repay by your due date. Your item will be sold to cover the cost of the loan, you will not be liable to repay any shortfall.
Is my transaction with Suttons & Robertsons private?
How is gold valued?
Gold is traditionally sold by the pennyweight. Twenty pennyweights (DWT) equal 1 Troy ounce. This weight 31.1 grams.
“Carats” stamped in the hallmark indicates the gold content within an item. The percentage of gold in jewellery ranges from 24 carat (24ct) for pure gold down to nine carat (9ct) that only contains 37.5% of the metals are gold.
How are diamonds valued?
These gem stones are valued according to their cut, clarity, carat weight and colour:
How is silver valued?
This depends on the item. Silver may be valued solely for its weight, but its hallmark, condition, pattern, desirability, and any antique value can also influence its value along with comparative recent prices. Pure silver is also called ‘Sterling’ silver and bears a lion hallmark that proves it is 92.5% pure.
What is a Hallmark?
British hallmarks are impressed into precious metals and typically include an assay office mark that certifies its purity, a letter representing the date and a maker’s mark. Hallmarks originated in 14th Century London to represent the mark of Goldsmith’s Hall of Worshipful Company of Goldsmiths. The Hall still maintains a record of all British hallmarks.
How are watches valued?
Each watch is carefully assessed on its own merits. We consider the watch maker, the desirability, the quality of craftsmanship and the retail value established for it. However, the actual loan amount will depend on many factors with the valuation dictated by:
Our valuers combine their own current market knowledge with insights from manufacturer databases whenever available. This includes Rolex and Breitling repair centres as well as auction records, from auction houses themselves and third-party data collectors. We also look for a match with registers of lost and stolen items as part of our Due Diligence.
How is artwork valued?
The value of these is calculated o:
How are antiques valued?
Antiques are defined as over 100 years and less than 50% restored. Vintage is usually 50-100 years and from a specific era.
Is Pawnbroking regulated?
Yes. As a pawnbroker, our business is regulated by the Financial Conduct Authority (FCA). We are therefore required to comply with the applicable rules and guidance issued by the FCA, Consumer Credit Act 1974 and all supporting Consumer Credit Regulations.
Are the Suttons & Robertsons valuers certified?
All our valuers are trained and certified by the National Association of Goldsmiths (N.A.G.)