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8 Ways To Find The Best Web Design Agencies For Your…Now is not the time to sell, rather use your luxury watch to unlock wealth.
The global second-hand market is said to have a value of USD$22-billion with Rolex being one of the biggest brands and the most sought-after. This, he adds, indicates just how appealing luxury watches and jewellery are to South African collectors and luxury enthusiasts. “From Rolex, Cartier and Patek Philippe watches to Hermes and Louis Vuitton handbags or fine art, even the posh are turning to asset finance to access their money,” he says. “Lamna has started the year some 30 percent up on the previous year.”by Luxity, an online reseller of pre-owned luxury goods in South Africa, the highest return for a watch brand is Rolex, returning 87,5 percent on average when comparing resale price to retail.
“It’s the perfect and most responsible solution to get access to money when liquidity challenges present themselves,” he explains. “The average loan at Lamna on a luxury watch is in excess of R120,000 placing customers firmly in a high-net-worth bracket compared to an average unsecured loan.” He says that one of the biggest benefits of using a watch to access finance is the speed at which funds are released. “Typically funds against loans on luxury items are released on the same day and you receive around 60 percent of the retail value,” he adds.
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