Prestige Pawnbrokers has seen pre-tax profits soar by approximately 115% in just two years, while revenue increased by 54% to more than £15 million.
— Britons are increasingly turning to pawnbrokers to raise money against their luxury possessions, as one of the UK’s leading firms reports record-breaking profits.
Prestige Pawnbrokers has seen pre-tax profits soar by approximately 115% in just two years, while revenue increased by 54% to more than £15 million.
James Constantinou, founder of Prestige Pawnbrokers, who shot to fame on Channel 4’s Posh Pawn, said more people are using watches, jewellery, handbags and other luxury possessions to access money.
He said: “We’re seeing more people looking around their homes and realising they have thousands of pounds sitting in watches, jewellery and handbags.
“People need access to money for all sorts of reasons, and pawnbroking gives them the option of raising it against something they already own without having to sell it.
“Once the loan is repaid, they get their item back.
“With the cost of everything going up, people are becoming much more aware of what their possessions are worth and how they can use them.”
Prestige’s live loan book has grown by almost 50% in two years, with annual interest income now surpassing £5.3m.
The company has also recorded its strongest year in history, generating more than £15m in annual revenue for the first time.
James said: “Pawnbroking has changed enormously. There used to be a perception that you only walked into a pawnbroker if you were desperate for money, but that isn’t the case anymore.
“We’ve customers with assets worth tens of thousands of pounds who might need money quickly and don’t want to sell something they’ve spent years owning or collecting.
“For them, it can be a straightforward way of accessing money from an asset they already have.”
Prestige recorded nine months with revenues exceeding £1m during FY26, compared with just one £1m-plus month two years earlier.
Its highest-performing month brought in approximately £2m in revenue.
James said: “Two years ago, we had one month where revenue went over £1m. This year we’ve had nine.
“That shows just how much demand has grown and we’re now dealing with more high-value items than ever before.”
It isn’t just pawnbroking that’s growing, with second-hand luxury sales also soaring.
Second-hand luxury sales at Prestige have increased by more than 60% in two years to £10m annually.
James said: “The other side of the business has exploded as well.
“People still want beautiful watches, jewellery and handbags, but they’re becoming more careful about how they buy them.
“Buying pre-loved can mean getting the same Rolex, Cartier or Hermès piece for less than buying new, and people are far more comfortable doing that than they were a few years ago.
“We’re seeing people use the pre-owned market at both ends. Some are getting money from the luxury items they already own, while others are coming through the doors looking to buy them.”
Prestige’s profits have grown considerably faster than turnover, with pre-tax profit rising by approximately 115% compared with a 54% increase in revenue over two years.
James said: “These are the strongest figures we’ve ever had.
“Pawnbroking is one of the oldest businesses in the world, but the way people use it is changing.
“People are much more aware of what their possessions are worth and, with household finances being squeezed, I think more are going to look at what they already own.”
Constantinou currently runs eight Prestige Pawnbrokers stores across the country, with branches in Hatton Garden, Gracechurch Street in the City of London, Chelsea, Richmond, Weybridge, Guildford, Loughton and Manchester.
The business, which brought a premium approach to the traditional pawnbroking industry, has become a multi-million-pound enterprise.
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