How do you leverage the value of a Tissot watch without selling it? The answer is to temporarily pawn the watch in exchange for cash.
At Lamna, our core speciality is asset-based loans. We accept an array of movable assets as loan collateral, including wholly-owned timepieces by the luxury Swiss watchmaker Tissot.
This short-term finance solution is completely legitimate and regulated by the National Credit Act. The only caveat is you must have the funds to meet the monthly repayments.
Want to know more about pawning a Tissot watch in South Africa? In this article, we explain:
- what’s special about Tissot watches
- key advantages of pawning a Tissot watch
- when it’s a good idea to pawn a Tissot watch
- how the pawn process works in South Africa
- where to pawn a watch in SA
- benefits of using Lamna as your pawn provider.
About Tissot watches
Tissot watches aren’t iconic like Rolex, Patek Philippe or Audemars Piguet. What they do boast is the branding of one of the oldest luxury Swiss watchmakers. That, alongside exciting horological advances, gives Tissot cachet.
One such innovation is the titanium-based alloy Nivachron that’s used in the manufacture of the balance springs. These protect the movements from mobile phone interference.
Tissot watches are affordable, but no less appealing than other Swiss brands. The use of 18-karat gold, diamonds and mother-of-pearl in the classic, sporty and design collections ensures Tissot deserves its place in the luxury horological class.
Why consider pawning a Tissot watch
What makes the pawn process so attractive is transactional speed and confidentiality.
It is one of the quickest and easiest ways to gain access to funds. If you own the watch, and have the paperwork to prove it, the funds are in your account within 24 hours.
Selling a Tissot can take weeks, even months. And you may have to sell the watch for far less than it’s worth.
Pawn transactions are not reported to credit bureaus, so your credit score or repayment history are not taken into account when approving a loan.
When to pawn a Tissot watch
A pawn loan is suitable for a short-term funding gap. It’s the go-to option when you have to cover unexpected expenses, like:
- your child needs braces, but you have no dental cover
- the roof gets damaged in a storm and you need to pay the insurance excess.
Pawning is ideal for small- to medium-sized financial commitments that you know you can repay within a few months.
Pawning a Tissot watch: the process
Pawning a Tissot watch is simple and straightforward. We appraise the value of the watch based on the information provided online, and make an initial loan offer. The amount you can borrow is determined by the value of the watch.
If the offer is acceptable, you bring the Tissot watch and supporting documents to a Lamna branch. The piece is physically inspected and an agreement is drawn up, detailing the fees, interest rate and repayment terms.
The watch is handed over, insured and safely stored in a secure strongbox. The borrowed funds are transferred into your bank account.
Once the loan is repaid in full, and according to the agreed terms, the watch is returned to you.
Where to pawn a Tissot watch in South Africa
Lamna is a registered finance provider accredited by the Financial Sector Conduct Authority (FSCA).
We operate branches in Cape Town, Port Elizabeth, Durban, Gauteng and in Gaborone, Botswana and London in the United Kingdom.
Our pawn loans are fully compliant with the National Credit Act. We accept a wide variety of high-value items as security – luxury watches, jewellery, designer handbags, artworks, collectibles, motor vehicles and boats.
Start the process now by entering your details on our online application form. A Lamna consultant will contact you right away with an initial offer of a loan against your Tissot watch.
Alternatively, give us a call on 086 111 2866 to find out more about our luxury pawn services.
Pawning a Tissot watch through Lamna: benefits
The benefits of pawning a watch through Lamna include:
- competitive interest rates
- same-day access to funds
- confidential pawn transactions
- flexible repayment terms
- fair appraisals
- no early-settlement penalties or hidden fees.
Interested in pawning a Tissot watch in South Africa? At Lamna, we offer fast, discreet loans against a wide range of assets, from luxury watches and jewellery to vehicles or artwork. For more information, contact us on 086 111 2866 – or simply complete and submit our online application form.
ILLUSTRATIVE EXAMPLE
Client borrows R10,000 for 90 days.
Loan Amount | Repayment Period | Monthly Interest | Total Cost of Loan | Initiation Fee | Monthly Fee | APR |
|---|---|---|---|---|---|---|
R10 000 | 3 months | R500.00 | R2 914.50 | R1 207.50 | R569.00 | 60% |
Fixed rates range from 36% to 60% APR and payment terms range from a minimum of 3 months to a maximum of 24 months. Apart from the initiation and monthly fees shown in the table, the only additional fee is credit life insurance if the borrower does not have this already.
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