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Britains Largest Pawnbroker Launches Full Service Pawnbroking Website

Wednesday, 30 September 2009

Following the strongest period of trading in its 169-year history, pawnbroker and jeweller Herbert Brown has launched Pawnbroking.co.uk, a full service pawnbroking website, which enables customers to pawn or sell goods online.

Set to challenge eBay as an alternative to the auction based model, Pawnbroking.co.uk lets customers sell or borrow against gold, antique jewellery and prestige watches, such as Rolex, from the comfort of their home. The company anticipates that the site will quickly become the market leading online pawnbroking service.

The UK pawnbroking industry is currently worth over £100 million annually and this is growing year-on-year. Herbert Brown, part of the UK's largest chain of pawnbroking shops, has experienced strong growth over the last year due to the combined effect of the recession and its store expansion strategy.

Rod Mason, managing director of Herbert Brown, explains: "Herbert Brown is one of Britain's most established pawnbroking and retail jewellery chains and as a market leader it is essential we meet the needs of our customer base. The modern consumer is looking for a swift, convenient and reliable service online as well as in-store.

"The current economic climate means that access to finance is more challenging than ever. As a result, small business owners and asset-rich individuals are using Herbert Brown for short term loans as well as to take advantage of the recent surge in the value of gold."

The launch of Pawnbroking.co.uk comes on the back of the success of Herbert Brown's retail site, HerbertBrown.co.uk, which was launched in January 2009 and has quickly gained a loyal following.

Continues Mr Mason: "Pawnbroking.co.uk will also enable the company to tap into new customers, who prefer to look after their finances via the web, as well as the many current customers who want the ease of an online service."

Customers log in to the secure site and provide basic information on the item that they wish to pledge.  An insured special delivery pack is then sent out for customers to post the item for valuation; once the client accepts this, the funds are transferred in their preferred method.  All aspects of the transaction are secure, with identification checks required at each stage. Pawnbroked items are stored by Herbert Brown at a high security site until the loan is paid, after which the pieces are safely returned.

Specialists in new, valuable, second hand and antique jewellery, with 30 stores across the North of England and Scotland, Herbert Brown is also set to add three more retail jewellery stores to its portfolio in time for the busy Christmas shopping period.


Notes to editors

Herbert Brown jewellers and pawnbrokers was founded in Leeds in 1840 and has more than 30 stores across the North of England, as well as online jewellery sales at http://www.herbertbrown.co.uk/ and online loans and jewellery purchasing via http://www.pawnbroking.co.uk/

Herbert Brown is now part of Albemarle and Bond Holdings plc, forming one of the largest pawnbroking and retail jewellery chains in the UK.

Herbert Brown specialises in new, second hand and antique jewellery including pre-owned Rolex and other luxury watches.

Further company information can be found at http://www.herbertbrown.co.uk/