We all sometimes wish we had a crystal ball and knew what was coming next. Whether it’s the right time to sell or buy a house, invest in the stock market or for our industry, buy or sell some jewellery or gold. For my part I wish I had invested more of my money on pre-owned Rolex when I first began this business. My investment on some models such as a stainless steel Daytona would have nearly TRIPLED over the last 5 years. Rolex watches have always been in demand. They are a prestige brand that seems to reflect wealth and success and as such their desirability seems to grow and grow.
They have been quite simply ‘as good as gold!’
As a result we sell a lot of pre-owned Rolex. They are all fully guaranteed and authenticated, serviced and with a 2 year warranty. They are also priced sensibly as the online retailers pretty much dictate the market prices. However demand since the Brexit decision has gone mad especially in the premium sports models and you cannot get new supply without paying a premium well above retail prices.
Why? Because Rolex do not release these watches into the market at the rate of demand so you quite simply cannot get one unless you are on their waiting list for a very long time and even then you are unlikely to ever get to the top of the list unless you are a regular customer of theirs!
UK prices are currently cheap for foreign investors due to the value of the pound. Rolex watches in particular are getting snapped up and taken abroad for resale which is likely to put more pressure on supply. Equally if a retailer wishes to restock, then many of the preowned watches come from overseas making the new supply even more expensive. So if you are looking to invest in a Rolex, now would seem a good time and particularly if it is pre-owned, as it is unlikely that you will be able to buy the same watch at the current price structure by Christmas. Either way, if you want to buy an asset that seems to continue to increase in price, unfailingly, year on year, then you could put your money in a much worse place right now and not have the pleasure of wearing it.
The pawnbroking arm of the business has remained steady throughout the summer. We expect to see a peak in the late Autumn and recently it’s the ‘back to school’ mums and dads who are topping up their reserves to pay for new school kit and paying off outstanding credit card bills from entertaining their family for weeks. We have also had a large number of Asian jewellery loans, mainly to fund the Asian wedding season. Many regular customers borrow large sums against their 21ct and 22ct gold jewellery to fund the generous gifts of cash, gold and lavish celebrations that surround such an event. All loans are 100% confidential and the contract length of up to 7 months allows part payments, giving customers the opportunity to reduce their loan value as, and when, they can afford it.
One regular customer of ours visited last month to use our lending service to borrow against his Rolex and get a £5000 loan to fund the cash flow for his house extension. To him it’s much simpler than going to a bank and only took 15 minutes to authenticate the watch and process the loan. Lending against your assets is a quick and easy way to get cash and for short term credit, the rates take a lot of beating!
Wisdom, Faith And Power….
Sapphire is the birthstone for September and what could be better than to treat your loved one to a stunning piece of jewellery to mark the occasion. In fact ancient civilisations believed the world was built on a giant sapphire and it was its reflection that made the sky and sea so blue. Clearly they must have had better summers than we have!
It was believed that the Sapphire brought wisdom, hope and faith and was a symbol of power, strength and wise judgement. You don’t have to spend the earth to afford one though and we have a new and exciting range of all coloured stone jewellery at Brown and Gold in Seacroft and Batley and Christopher Brown Jewellers at York, Pontefract and Shipley.
With only 4 months to go, what a perfect way to start your Christmas shopping!