If you’re facing cash-flow issues and want to keep your investment portfolio intact, a luxury pawnbroker in Durban is a hassle-free way to raise capital.

Why consider luxury pawnbroking as a financial tool

In recent years, luxury pawnbroking has become an increasingly popular financial solution.

Rather than approaching traditional sources of finance such as banks, consumers are leveraging the value inherent in high-end investment assets.

Expensive items – Rolex watches, Hermès Kelly or Birkin bags, and paintings and sculptures by renowned and emerging artists – are exchanged over the short-term for quick cash.

The key benefit of dealing with a luxury pawnbroker in Durban is the asset retention factor. Once the loan plus interest is repaid, the item is reclaimed and can be used multiple times as loan collateral.

That, together with the fact that pawn loan transactions are completely confidential and have no impact on credit score, is behind a surge in the pawn market in Durban and the rest of South Africa.

The exponential growth of the luxury pawn market    

Over the past few years, pawnbrokers have become an integral part of the financial landscape.

They are seen as an easy alternative to traditional finance providers that typically require endless supporting documents and a clean credit record before they’re willing to release funds.

How widespread is the luxury pawn market? According to the 2024 Global Edition of the Pawn Shop Market Report, the value is pegged at US$39512 million. That is around R6,8 billion at current conversion rates.

Over the next six years, the market is expected to grow by 3.5% per year. That adds yet more legitimacy to luxury pawnbrokers as bona fide finance providers.

Why Durbanites are opting to pawn luxury goods   

High inflation, stagnant growth and persistently low business confidence are making it more and more difficult to conduct business in Durban.

That has had a knock-on effect on employment figures. In the third quarter of 2023, almost 360,000 Durbanites, 22% of the population, were without a job.

As the financials speak for themselves, getting a bank loan to inject the capital required to sustain a business is more difficult than ever. Acquiring a personal loan is equally challenging.

This has prompted Durban residents to find alternative means of finance. Pawn transactions have proved to be more than suitable. Provided applicants can prove ownership of a luxury asset, they qualify for funding.

Where to pawn a luxury item in Durban   

Lamna is a trusted luxury pawnbroker operating in Durban since 2015.

We offer loans against a wide range of high-value assets – gold and diamond jewellery, luxury watches, artworks and antiques, non-fungible tokens, and cars, yachts, boats and motorbikes.

The Lamna Durban branch is centrally located and open from 9 a.m. to 5 p.m. Monday to Friday. We offer online loan applications, same-day loan approvals, and fees and interest rates compliant with the provisions of the National Credit Act.

Alternatively, you can contact our customer support team on 086 111 2866 or WhatsApp us and we’ll get back to you.

Why choose Lamna as your luxury pawnbroker in Durban

Lamna is a registered finance provider with a reputation for honesty, transparency and fairness. We have branches in major South African cities, and offer the following advantages to all our clients:

• fair, market-related asset appraisals
• NCR and FSCA accreditation
• transparent fee structure
• same-day access to funds
• a trusted name in the industry.

At Lamna, we offer fast, discreet loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles or artwork. For more information about using an asset to secure a short-term loan, contact us on 086 111 2866 or simply complete and submit our online application form.