A sale advance (or consignment advance) is cash paid to a seller before an auction, secured against the item being sold and repaid from the sale proceeds. Major auction houses sometimes offer advances to consignors of important pieces. If you need cash before an auction, or you’re deciding whether to sell at all, another option is to borrow against the asset, or against other luxury assets, with a specialist lender like Borro. Borro lends from $2,500 against watches, jewelry, diamonds, gold, handbags, cars and fine art, with no credit check and funding in as little as one business day once approved.
Sale Advances vs. Asset-Backed Loans
| Auction sale advance | Borro asset-backed loan | |
|---|---|---|
| Who provides it | Usually the auction house, for consigned items | A specialist lender |
| Do you have to sell? | Yes. The item is consigned and the advance is repaid from the sale | No. You keep ownership and get the item back when you repay |
| Amount | A share of the estimate, set by the auction house | Up to 65% of value for watches and jewelry, 70% gold, 50% diamonds and cars, 45% handbags and fine art |
| Timing | Varies by house and sale calendar | Funding in as little as one business day once approved |
Need cash before an auction? Borro lends against watches, jewelry, diamonds, gold, designer handbags, cars and fine art, with loans from $2,500, no credit check and funding in as little as one business day. Get a no-obligation quote or call 720-458-6788.
Why Sellers Want Cash Before the Hammer Falls
Auction calendars can mean waiting months between consignment and payment: catalog deadlines, the sale itself, then the settlement period. Selling quickly to a dealer instead usually means accepting a discount. An advance or a loan bridges that gap.
Borrowing Instead of Selling
If you aren’t sure you want to sell, a loan lets you raise cash and keep the asset. You can repay the loan and keep the piece, or sell later on your own timetable and repay from the proceeds. For fine art, Borro lends up to 45% of the appraised value of works valued at $60,000 or more, with a minimum loan of $25,000.
How Borro’s Process Works
- Request a quote. Tell Borro about the asset, its documentation and how much you want to borrow.
- Appraisal. A Borro valuation expert assesses authenticity, condition and market value.
- Loan offer and funding. Your loan specialist explains the terms in writing; once you accept, funds can arrive in as little as one business day.
- Repay and reclaim. The asset stays in fully insured safekeeping and is returned when you repay.
Learn more about fine art loans, auction-quality asset loans and auction finance.
Frequently Asked Questions
Can I get a loan before an art auction?
Yes. Borro lends up to 45% of the appraised value of fine art valued at $60,000 or more, with loans from $25,000, so you can raise cash without waiting for the sale, or without selling at all.
What is a sale advance?
Cash an auction house may pay a consignor before the sale, secured against the consigned item and repaid from the proceeds.
Do I have to sell my asset to borrow from Borro?
No. You keep ownership; the asset is held in insured safekeeping and returned when you repay.
Does Borro check my credit?
No. The loan is secured by your asset.
See what your assets could unlock. Borro has lent more than $1 billion and holds an A+ BBB rating. Apply now or call 720-458-6788 to speak with a valuation expert.
