Aussie businesses use jewellery to maximise ‘business potential’

Record numbers of Australians are leveraging their jewellery collections to maximise 'business potential', according to the country's newly established personal asset lender, Assetline.
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Record numbers of Australians are leveraging their jewellery collections to maximise “business potential”, according to the country’s newly established personal asset lender, Assetline.
Nick Raphaely, co-founder of Assetline, said over one third of the company’s clients were people “seeking ways to make their jewellery really work for them”.
“Whether it’s to expand inventory, take advantage of an offer quickly, or simply to inject extra cash flow for a short-term issue, the perception of jewellery as simply a void asset is beginning to change in Australia to something more able to make a difference,” he said
“We met with an antique dealer who had operated in the Sydney CBD for over thirty years.
“When an opportunity arose to buy a collection of rare diamonds at a great price, he found himself needing an extra $100,000 to further his business.
“When he tried at the Big 4 banks for the financing, they told him they couldn’t help.
“Luckily, the dealer had collateral (a collection of fantastic antique jewellery).
“He brought the collection to our offices, and within 24 hours had the money to take advantage of his time-sensitive offer.”
He said Assetline offered people options where previously there were none.
The company offers “short-term flexible loans secured against a range of high-end valuables” including luxury watches, jewellery, diamonds and precious stones, fine art and antiques, motor cars and fine wine.
Raphaely said $1000 to $1 million loans, which normally take 24-48 hours to finalise, can be applied for online, at Assetline’s Sydney office or via a “home consultation”.
He concluded that the company’s service was ideal for jewellery retailers who often had a lot of valuable old stock in their stores but didn’t have the cash needed to buy new stock.
“Assetline is virtually a standby credit line for jewellers,” he said.