Frequently Asked Questions at LUXE: Using Rolex and Luxury Watches for Loans or Pawn

What are the different names for borrowing money using Gold & Diamond Jewelry, Rolex and luxury watches, or designer bags as collateral?

You might hear it called a collateral loan, borrowing money, or simply a loan. Some people also refer to it as executive loans or pawn. All of these terms mean the same thing: you’re using your valuable items to obtain a loan. Collateral is like a safety net for a loan. When you pawn jewelry, you give it to LUXE Jewelry & Watch Collection as a promise that you’ll pay back the money we lend you. If you decide not to pay the loan back, we keep your collateral. Your Gold Jewelry, Watch, Collectible or Designer goods act like a backup guarantee for your loan.

What types of jewelry are best for pawning?

High-quality items that hold their value well are ideal for pawning. Consider diamonds, fine and designer jewelry, gold, and luxury watches. Brands like Cartier, Rolex, Breitling, Tiffany & Co., David Yurman, AP and Patek Philippe tend to yield higher loan amounts due to their enduring value and demand. At LUXE Jewelry & Watch Collection, we aim to offer the most money for your valuable items, making the process both rewarding and straightforward.

What Gold items can I use as collateral for a loan?

LUXE Jewelry & Watch Collection will make you an offer on these and other valuable items:

10k, 14k, 18k, 24k Gold Jewelry
Inherited or Estate Jewelry
Gold Watches, Rolex, AP, Cartier, Brietling, Omega, Luxury Watches
Gold Coins, Nuggets,
Gold or Silver Bullion
Collectible Currrency
Divorce unwanted Gold & Diamonds
Miscellaneous Gold items
Silver coins, Silver sets, Silverware/flatware, Silver items
Broken Jewelry, Missing Earrings
Tangled or Broken chains
Jewelry gathering dust in jewelry box
Outdated Gold & Diamond Jewelry
Dental Gold, Gold scrap or filings

Is it more profitable to pawn or sell jewelry?

At LUXE Jewelry & Watch Collection, you can expect high-value offers whether you choose sell your jewelry or get a loan / pawn. However, pawning allows you to get the funds you need while retaining the option to reclaim your valuable items later. If you’d like to keep your jewelry for the long term, pawning is a great choice. Rest assured, you’ll receive a competitive offer for your diamonds, fine & designer jewelry, gold, and luxury watches when you opt for a collateral jewelry loan with us.

What is the maximum loan amount for my jewelry?

LUXE Jewelry & Watch Collection specializes in offering executive loans and pawn jewelry loans ranging from a few hundred dollars up to $hundreds of thousands and beyond. Our loan offers are calculated based on the liquid wholesale value of your valuable items, ensuring you receive the most competitive and fair market rates.

How does the pawn jewelry loan transaction work?

Give a call or visit LUXE Jewelry & Watch Collection store at 4039 Clark Road in Sarasota. (941) 924-2004
Your items will be evaluated, testing it for weight, purity and market demand
We'll make you an offer
You can choose to sell it, or use it as collateral for a loan (pawn it)
Then LUXE Jewelry & Watch Collection will do some paperwork with you
You'll need a driver's license and be over 18
You'll get your money that day
Hassle free, no credit check, explaining things to you

Is pawning jewelry worth it?

Absolutely! Pawning provides a fast, short-term financial solution without credit checks or the risk of incurring debt beyond your collateral’s value. If you have valuable jewelry, using it as collateral for a pawn loan can be a convenient way to access funds. LUXE Jewelry & Watch Collection pays more for your jewelry compared to traditional pawn shops, making it a financially advantageous choice. Our flexible repayment terms and easy collateral redemption process add to the appeal. We want to give you a positive experience.

How quickly can I access funds from my pawn jewelry loan?

In most instances, you can expect to receive your funds in less than 24 hours from the moment you accept our collateral loan offer at LUXE Jewelry & Watch Collection. Often it's at the time we make you a loan offer.

What if I don’t accept the pawn jewelry loan offer?

If you decide not to accept our offer, there's no obligation. It's your choice whether to sell, or borrow money.

Does pawning affect your credit score?

Pawning with LUXE Jewelry & Watch Collection has zero impact on your credit score. We maintain complete confidentiality and do not report to any credit bureaus. If you choose not to repay your pawn or executive jewelry loan, the only consequence is the forfeiture of your pledged collateral, with no negative implications for your credit profile.

Once the pawn loan is paid off, how do I get my item back?

Once your loan balance reaches zero, you get the item(s) you used as collateral returned to you. We understand the sentimental and personal value of some items, and why you chose to borrow money and not sell the item.

How long do I have to make payments?

LUXE Jewelry & Watch Collection offers 30-day loans that can be extended as needed by the client. There is no minimum loan period, as our loans can be paid off in full at any time without penalty.

Do I have to make monthly payments for my pawn jewelry loan?

Yes, to maintain your collateral jewelry loan, monthly interest payments are required for the duration of your loan term. Opting for payments exceeding the minimum monthly interest effectively reduces your principal balance, providing you with greater financial flexibility and repaying the executive loan or pawn faster.