How It Works
Fast. Easy. Simple as 1,2,3.
Step 1: Get a Quote
Fill out our free and simple form describing the item you wish to sell or use as collateral for a loan. After reviewing your submission, our team of expert jewelers will contact you with an initial quote, usually within one business day. Our expertise lies in large diamonds, luxury watches, precious metals, and fine jewelry.
Step 2: Ship Your Item
Upon acceptance of our initial offer, we will provide you with a pre-paid, fully-insured shipping label to safely send in your item for an official evaluation. All shipments are insured by Jewelers Mutual and Brinks, so you can rest assured that you're fully covered. Upon arrival at our offices, your package will be opened under video recording for your protection.
Step 3: Receive Cash
Once your item has been evaluated, we will contact you with our official offer and arrange for an immediate payment via check or wire transfer. Don't like our offer? No worries! Your item will be shipped back at no cost to you. No risk. No obligation.
Our Process Explained
Frequently Asked Questions
A: Diamond Banc accepts several types of personal assets as collateral for a loan; including, Diamonds, Fine Jewelry, Luxury Watches, Gold & Precious Metals.
Have something else to offer? Diamond Banc is open-minded and entrepreneurial. We have provided loans on other types of assets as well, ranging from rare coins to high-end designer handbags. Contact us with the details of your item and we will do everything we can to assist you.
A: Our typical LTV (loan-to-value) ratio is 65% – 75% of the estimated liquid wholesale value of your asset. For example, say you purchased a diamond from a competitively priced retail store for $6,000. The wholesale value would likely be somewhere in the area of $4,500. We would then loan 75% of that value, meaning your loan amount would be approximately $3,375.
A: No. Diamond Banc does not conduct credit checks or employment verification. The value and terms of each loan is solely based on the assets you pledge as collateral.
A: All assets are stored on site in one of our state-of-the-art, alarm protected, 24-hour security monitored, fireproof vaults. Your items are also fully insured for their full replacement value while in our custody.
A: Your minimum monthly loan payment will consist of interest, security, storage, and insurance fees. This amount will depend on the total amount borrowed as well as the type and value of asset used as collateral, with rates as low as 2.5%.
A: Diamond Banc offers 30 day loans that can be extended for as many 30 day periods as the client needs. There is no minimum loan period, as our loans can be paid off in full at any time without penalty. What sets us apart from many of our competitors is the option to pay the loan down in increments as opposed to one lump sum payment. Any amount paid each month above the "monthly rate" will go towards reducing the principal balance therefore reducing your minimum monthly payment. This means our clients can take as little or as long as they need to repay the loan. You have the freedom to structure your monthly payments in any way that best fits your needs and financial situation.
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Loan Details & Rates
Diamond Banc offers the best jewelry-backed loans in the nation. Our plans are flexible with a minimum repayment period of 61 days and a maximum repayment period of 5 years. Our interest rate is 3% per month or 36% APR when clients borrow 30%-50% of the liquid wholesale value of their pledged collateral. For example if you have an asset with a liquid wholesale value of $25,000 and borrow $10,000 the monthly interest rate would be 3%, or $300 a month. If you borrowed the money for 3 months, your total pay back amount would be $10,900. Loans greater than $100,000 can qualify for even lower rates. If you have any more questions please review our FAQ page or give us a call.
