Frequently Asked Questions
Everything you need to know about confidential collateral loans and selling your valuables.
How do I get started?
Start the process today by making an appointment, by calling us at 480-398-7704 or emailing us from the Contact Us form. It would be helpful if you could email us a photo of your valuable(s) and any paperwork you might have such as an appraisal or GIA certificate.
How do I know what my asset is worth?
Our experienced GIA trained staff will work closely with you to assess the value of your assets and provide you with the highest monetary value possible. (Please keep in mind that if you have an appraisal, they are generally for insurance purposes and reflect the full retail replacement value, not market value.) Our evaluations are free of charge and you are not under any obligation.
Should I sell or take a loan?
We will help you determine what best suits your needs, whether to sell or get a short term loan on your valuables. We want you to be comfortable knowing that you made an educated decision either way. Please keep in mind that our collateralized loans can be renewed as long as the interest is paid.
Is Berkshire Asset Lending part of Elite Jewelry & Loan?
Yes — Berkshire Asset Lending is now powered by Elite Jewelry & Loan. You’ll receive the same trusted, confidential service from the same family-owned team, and you can also work with us directly at elitejewelryandloan.com.
How do I go about getting a loan?
Contact us to schedule your confidential appointment. We will assess the value of your item(s) and offer you the highest loan amount possible. Our assessment is free and you are not under obligation. If you choose to get a loan, you will receive payment on the spot after completing a small amount of paperwork. Your valuable is held as collateral with us until the loan and interest are paid. Rest assured your valuables will be safe and secure at all times.
How much time do I get to repay the loan?
You may pay the loan back anytime within the 90 day loan period. There is no prepayment penalty and interest is only charged for the time you have the loan. There is no payment schedule; you can make just one payment anytime before the maturity date along with the interest due. Or if preferred, you can make payments anytime during the 90 day loan period. Loans may also be renewed by simply paying the interest due and you can get another 90 days.
What if I need more time to pay back the loan?
If you need more time, no problem, just pay the interest and we will be happy to renew the loan for another 90 days. You may renew as many times as needed as long as the interest is paid.
What if I am unable to pay back the loan and interest?
If you are unable to pay the loan or the interest, the asset will default and you will lose ownership. In this occurrence, you will not be obligated to pay any additional fees and your credit will not be affected.
What if I just want to sell my valuable instead of getting a loan?
Getting a loan on your valuables is a good option when you don’t want to permanently give up your valuables. However, you may choose to sell your valuables outright as an option instead of a loan. Because our family has been in the jewelry and lending industry for over 50 years, we have an extensive network of buyers. This gives us the opportunity to provide you with the highest dollar possible for your assets.
What exactly is a collateralized loan?
When a borrower pledges a fully-owned asset in exchange for cash, we call this a collateralized loan. We will hold your valuables as collateral until you pay back the loan and interest. You will only be charged interest for the time you have the loan. If you are unable to pay the loan or the interest, the asset will default and you will lose ownership. In this occurrence, you will not be obligated to pay any additional fees and your credit will not be affected. However, we are always willing to work with our customers to keep them from defaulting especially in the case of needing a divorce loan.
How can I make an appointment?
Call or email us today to schedule your confidential appointment. Our evaluations are free of charge and you are not under any obligation. No credit checks, no prepayment penalty and interest is only charged for the time you have the loan. Because we respect your privacy and security, our office is by appointment only. You will find we have a very friendly, safe and comfortable setting.
What if I want to just sell my engagement ring?
At Berkshire Asset Lending, we specialize in asset buying which allows us to buy your upscale engagement ring, jewelry, diamonds, watches and luxury goods in exchange for cash. Since our family has been in the jewelry and lending industry for over 50 years, we have an extensive network of buyers, which enables us to pay you top dollar for your items.
What if I need more time until my settlement?
Berkshire Asset Lending is always willing to work you with to customize your loan to fit your financial needs. The standard loan is 90 days; however if you need more time to pay the loan back, you can simply pay the interest and we would be happy to renew your loan.
Why should I use Berkshire Asset Lending?
Berkshire Asset Lending is family owned and operated with over 50 years of experience in the jewelry and lending industry. We are GIA trained experts. We offer very competitive pricing and will pay you the highest dollar amount possible. Unlike pawnshops or other Jewelry and Loan companies, we only charge you interest for the time you have the loan. We are Scottsdale’s Premier Collateral Lender and Buyer of Jewelry, Diamonds, Fine Watches and Coins.