Consignment loans now available

Last post: Sep 19, 2012

A review of Consignment loans

One of our lenders has today launched a new Consignment loan product aimed at the higher end of the market for those who wish to fund the gap until a personal item of their's sells at auction (minimum asset value is £100,000) . Up to 70% of the expected sale price is available and the lender will manage the sale process for you. Once the asset is sold you get the sale price net of sale and loan charges. However, this Consignment loan product is not available for all auctions and only certain items qualify. The list of eligible assets include:

  • Luxury Watches
  • Jewellery
  • Diamonds and Gold
  • Art
  • Fine Wine
  • Antiques
  • Yachts
  • Prestige & Classic Cars

As stated above the minimum asset value is £100,000 (there may be some flexibility here) and with a 30% LTV applied to Art assets, this means the product is aimed at minimum advances of about £30,000. The Lender is also in partnership is Sotheby's, Christie's and Bonhams so will be in an ideal situation to value your asset and manage its sale for maximum return. As a result this Consignment loan is more than just a loan as there is expertise available as well. Who will this suit? Admittedly it's not exactly a mainstream product but for those wishing to sell a high value asset at auction but raise funds on it now and who may be unfamiliar with the best way to sell to achieve maximum return this product will certainly suit. Of course we can also supply short term loans secured on the above-mentioned assets even if you don't wish to sell. Such loans are available from as little as £1,000 and there is no obligation on you to sell the asset but it will be held as security during the term of the loan. 

For more information please contact us on 01494 410125 and we will be happy to connect you with the Lender in question at no cost or obligation.