Pawnbroker aims to be nation’s leader

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

Herbert Brown, which has a branch in Market Place, Oldham, is one of the UK’s longest established pawnbroking and retail jewellery chains. The new online service is anticipated to quickly become the market leading pawnbroking site.

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 more than £100 million annually and this is growing year-on-year.

Part of the UK’s largest chain of pawnbroking shops, Herbert Brown has experienced strong growth over the last year due to the combined effect of the recession and its store expansion strategy.

Managing director Rod Mason explains: “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.”