Vorrow will manage the sale of assets from appraisal to consignment. We leverage our relationships with auction houses and private sellers to maximize sales returns.
IMMEDIATE LIQUIDITY FOR ASSETS
Vorrow will provide clients with an advance for up to 70% of the estimated sale price of their luxury asset. You can quickly get the funds that you need without rushing into a sale.
All of your personal information is kept confidential and Vorrow does not conduct credit or income checks on clients. Throughout the entire process your information is always kept safe and secure.
FIXED RATES & PAYMENTS
Your actual rate depends upon the loan amount, loan term, value of the asset, and will be agreed upon between you and the lender. For additional loan options, please call 1-855-250-2500.
ALL FEES AND INTEREST PAYMENTS ARE TAKEN FROM THE FINAL SALE AMOUNT
We make it as easy as possible. You don’t need to make any up-front payments since all fees and interest payments are taken from your asset’s final sale amount.
What kind of assets does Vorrow accept as collateral for a loan?
Vorrow accepts the following types of luxury assets as collateral for a Sale Advance Loan:
Jewelry & Diamonds
Fine Art & Antiques
Gold & Precious Metals
Have something else? Vorrow has provided loans on other types of assets as well ranging from memorabilia to musical instruments. Please be sure to also view our FAQ that lists which assets Vorrow does not accept.
What assets does Vorrow not accept?
Vorrow will not provide loans on:
Homes & Property
Stocks & Bonds
Animals & Livestock
Assets that are not fully paid off
Assets that are not fully owned by you
How much can I borrow?
Vorrow can loan up to $500,000. Per luxury asset Vorrow can provide up to $2,000,000. Vorrow’s loan-to-value is 70% based on the estimated market value and may be as low as 30% depending on the asset.
How much can I borrow and who will determine the value of my assets?
The knowledge and expertise of our in-house appraisers combined with our international network gives Vorrow the advantage to offer you the best possible estimate.
What does “Market Value” mean?
The importance of “market value” and “retail value” is to distinguish the difference. The amount of money you could expect to receive today from selling your luxury asset is “market value.”
“Market value” for assets that are tangible tend to depreciate in value overtime.
“Retail value” factors in the cost and mark-up that the owner, retailer etc. incurred in marketing, selling and storing, therefore the “retail value” is usually a higher value than the current “market value.”
The market value and the retail cost varies by item. In the case of jewelry, the market value could vary from 30% to 60% of the retail price.
Is there a minimum or maximum loan period?
The duration of the loan period is ultimately determined by the sales period, but the Sale Advance Loan contract is for 4 (four) months.
Can I change my mind?
You have the flexibility up until you sign the loan agreement. Here is the process: As soon as your luxury asset is in our possession – whether you drop it off, we pick it up or it is shipped to us – Vorrow will appraise your asset and tell you how much we are willing to lend you. Vorrow will provide you with elaborate details on the loan. The decision is completely up to you. If you agree to the terms, conditions and rates you will be issued with the agreement which will then become binding.
When will I receive my funds?
Quickly! As soon as Vorrow has appraised your luxury asset, you approve and agree to the loan offer, we will deposit the funds to you instantly – typically via a wire transfer.
How is my loan repaid?
Vorrow makes the process simple and convenient. All commissions and interest payments are taken from the final sale price of your asset. You will not need to make any up-front payments.
Does Vorrow conduct credit checks?
We do not check credit when making decisions on offering loans. Vorrow may run an ID check but this is NOT a credit check and will not affect your credit rating.
How will I get my luxury asset to Vorrow for appraisal?
It couldn’t be easier!
You can meet with any of our expert appraisers in our office or you can safely and securely use our free and insured courier for watches, antiques, jewelry, fine art and gold. Vorrow will arrange for our expert appraiser to come to your location for high-end assets.
Vorrow will arrange to pickup your luxury or classic car from your location of choice using a secure and unmarked transporter.
What does an appointment at Vorrow involve?
You can call 1-855-250-2500 to schedule an appointment with one of our experts or schedule an appointment online.
When you arrive at our Vorrow office you will be kindly greeted by our account manager and our certified appraiser. Next you will receive an appraisal from our expert valuer of your luxury asset along with a quote for your loan.
Walk-ins are always welcome however, it is best to make an appointment prior to your visit.
Where will my assets be stored?
Vorrow has a state-of-the-art secure and private storage facility where your luxury assets will be safely stored. Our private and secure storage vaults have climate control to preserve your valuable assets whether it be jewelry, gold, fine art, watches, a car or something else.
How does a Sale Advance Loan differ from a Loan Against Your Assets?
Sale Advance Loan enables you to unlock the value of personal luxury assets thanks to extensive network of auction houses, private galleries and private buyers.
Using a luxury asset as collateral without having to sell your asset in exchange for a loan is a Loan Against Your Assets.
Can I come in and collect my assets?
Absolutely! Please contact our Account Representatives to arrange an appointment at 1-855-250-2500.
Please be advised that all redemption appointments must be scheduled in advance.
What happens if I am unable to repay my loan?
If you are unable to make on time payments or pay your loan in full you may contact our account specialists at 1-855-250-2500. Vorrow will do our best to find a solution to work with you and resolve your loan balance. Per the terms and conditions of your signed loan contract Vorrow may sell the asset(s) that you used to secure your loan to recover the outstanding loan balance.
If you default on your loan agreement the title of ownership for your luxury asset(s) may be transferred to Vorrow.