2018 is here upon us and with it, the hopes and dreams of a better year. If you’re like most people, you’ve started the year with resolutions, one of the most popular of which is paying more attention to our finances and saving more. Yet, US News reports that by the 2nd week of February, 80% of all resolutions fail.
What can we do to improve the odds? Start with manageable and attainable goals and a reasonable plan. Did you engage in holiday overspending? Be sure that you account for this as you make your plan and determine your goals.
One prudent way to get out from under the weight of holiday overspending is to convert jewelry or some other luxury assets into cash. Did you receive jewelry for the holidays? Do you have unused or forgotten jewelry lying around in a drawer or safety deposit box? Sell it or borrow against it, in order to give yourself the flexibility to get back on your financial feet.
There are any number of considerations, as one looks to sell or borrow against jewelry and luxury items. First and foremost is the credibility and reputation of the buyer. Another thing to consider is how quickly you will receive the sales proceeds. There is a difference between buyers, auction houses and consignment.
Dealing with an expert, who has the money and who is ready to buy your jewelry, is usually your best bet. If you decide that you cannot let you go of your jewelry pieces, you always have the option to consider a loan against your pieces, where your gold, diamond, luxury watch and/or precious metals will become collateral which you get back after paying off the loan with interest.
Vasco Assets is your trusted source for luxury assets sales and borrowing. Give us a call at 800.688.2994 to find out more or to make an appointment to meet with one of our experts. Contact us here for additional information.