Not many things are a certainty at present. The country’s economic future, Brexit, and who will be PM in 6 months’ time but one thing is certain, Christmas has passed and for those feeling the pinch Brown & Gold are a good option for a quick cash fix.
January and February are among the busiest months in the pawnbroking calendar. With everyone struggling due to the overspending brought about by the Christmas festivities, two thirds of us spend January paying back credit card bills and overdrafts.
Apparently 50% of us avoid the famous January sales in an attempt to save money and a third of us would rather give up takeaways than alcohol!
Most importantly for our business, figures from a Financial Independent website suggest the average person runs out of money by 7th January!
In fact the majority of Brits won’t have paid off their Christmas debt until March payday and statistics from
MoneySupermarket.com tell us that 13% of us go into the red within a week of being paid!
This is how our pawnbroking and Asset Lending Service helps. Pawnbrokers will lend on a variety of items but gold and luxury watches are the most popular pawns. The gold price has remained strong ever since Brexit and although it has fluctuated a little, it still remains the solid investment it has always been.
As a result we have seen a growth in gold buying once again and it’s amazing what people own that they no longer wear and wish to raise some cash against.
We have 8 shops in the North with five in Yorkshire including Brown & Gold at Seacroft and Batley, Christopher Brown Jewellers in York, Pontefract and Shipley. We also have 3 further shops in Liverpool in the city centre, Toxteth and Prescot.
Over the past year our customers have raised money against some fantastic items including a 21ct solid gold belt worth over £5000 where the customer needed a short term loan for her hairdressing business, Rolex Daytonas, diamond bracelets and necklets but most often against every-day gold and diamond jewellery that allows to borrow to have a few hundred pounds when they need it most.
Some loans are larger though and we even lent against a stunning 4.85ct diamond solitaire ring worth over £50,000 where we helped the lady concerned raise the money she needed to pay for a deposit against a house.
We have made business loans against Rolex and diamonds for many thousands of pounds and in nearly every case, the customers have returned for their items and been delighted with the service and the value this type of loan offers.
These are happy stories and pawnbroking users are happy customers. They know what they want to borrow, how long they will need the money for and that they will be able to get their goods back at the end of the loan or sell their goods to cover it without ever getting into more debt.
We really feel we are adding a valuable service to the community and with over 80% redemption and return rate in our branches, our customers must be happy too.
Most customers only need a short term loan and pawning your valuables often proves to be a more sensible option rather than adding to the debt of an already burdened credit card or overdraft.
Items that were redeemed before Christmas to wear for the festive period come back into our safe again over the next few weeks as they may as well be doing something useful for the owner rather than sitting in a drawer at home. They will be safer too!
With most Brits not paying off their Christmas debt until March payday, we have some busy weeks ahead – especially with the price of gold remaining at near record levels.
Why not take advantage of our confidential lending and buying service and make your payday come sooner!