Recap: The advantages of Biltmore Loan over an auction house

Host: It is the holiday season and if you need a loan to get you through, there is a way to get what you need and no it’s not a bank. This is David Goldstein of Biltmore Loan and he’s here to tell you how he and his team of experts can help you get through. Great to see you!

David: It’s great to be back.

Host: Oh it’s wonderful and you have fine jewelry that you are gonna be talking about. We have everything on the table today!

David: We have a little of everything. You know, everybody just got down with Black Friday. You might have been a little exuberant. You might have spend a little more than you wanted to. You know Biltmore is a place where we say we buy our loan on most things you won’t and we can do a short term loan, we can purchase from you. We get lots of estates and a lot of people calling us recently. They would really notice calling us about their estates that people are trying to get done before the end of the year.

Host: Sure. Getting business in order right?

David: Coz there’s some tax advantages as well. Or they might have a loved one that passed under on a year. You know we hear so many people call us about estates and auctions and I thought it was a great concept and topic today to talk about. Because auctions are everywhere and they have come into mainstream America. Used to be we only knew about Sotheby’s and Christie’s and now there’s thousands of other online auction houses. The thing that I tried to explain to people we just had this situation occurred last week that I thought was so apropos for today’s clip would be that somebody takes that piece of product to a local auction and the problem is if you don’t get two people or three people that want that same piece, you will immediately get a very very low number. On top of that, with the smaller auctions when you’re not talking about one of a kind pieces, what happens is the auction houses charged you at 15 to 25 percent commission to the seller and then another 15 to 25 percent to the buyer. So by the time the seller is all done he’s getting about 40 to 50 cents on the dollar.

Host: And if it’s someone who doesn’t understand, for example the Graff earrings that you have here, if someone at an auction house has another value?

David: A perfect example. I mean this was somebody that came in that had these in a fairly long time and they bought them about 15 years ago. They won’t wearing them anymore. I mean this is an excess of $200,000.00 that we paid for them. This is my expertise, these diamonds, jewelry, watches, collectibles. I love to find out the information. I love bringing good news to somebody.

Host: Right. It’s 250 you said for these?

David: These are retail around $500,000.00.

Host: So the opening bid is $200.00 you know you’re in trouble.

David: And that’s the problem.

Host: Right.

David: You know so many of these people come back to us and find out after we’ve offered them that they sold it in auction and they ended up getting – they hear that number of 3,000 but 1,500 only goes to them.

Host: Ugh! They’re sick about it.

David: So they could have sold it us for 2,000 and 2,200. So many people are really finding the options. We’re showing now why they would come to us because these pieces here in the fine jewelry this was one collection right here of all David Webb pieces. And David Webb was one of America’s finest designers in the 60’s and 70’s.

Host: Beautiful.

David: And he’s now passed on these become very collectible.

Host: And I want everyone at home to see this cool piece. Pull it out. So give me the ring.

David: I told you that you’d love that. This is just one of the cute rings that we bought that I thought everybody would just love it and here it is wearing it.

Host: It’s beautiful.

David: And it’s adjustable. And watch this. She can now put that on and wear as a bracelet.

Host: I love this! So what is this? What is the value?

David: So it’s adjustable. And this is a $400.00 bracelet.

Host: Oh it’s gorgeous!

David: That we sell this for $400.00 and this is – it can be adjusted to any size. You can wear it as a ring. And it was just a great concept piece that came in and we are going to do the research for you. So when you see these unusual things here today, please give us an opportunity to come into our place where we’re experts and we’re gonna do anything and everything we can to even get you the most for a loan or the most if you like to sell something.

Host: And you will do free evaluation as well, right?

David: Always free evaluation and there’s nobody that likes giving a good news more than I do. So come visit us.

Host: That’s right. He and his team will do the work for you, okay. You’re gonna come back and you’re gonna have a little – another segment for us as well. But right now if you’re sitting at home and you’re thinking “That’s me David. I over spent for Black Friday” I need to get some of this stuff into your hands. Email at info@biltmoreloan.com. You can also give David a call and you will get that free evaluation in Scottsdale if you live in that area 480-991-LOAN. If you live in the Chandler area 480-705-LOAN. You can also visit their website BiltmoreLoan.com and a lot of the items that you see in the show can be sold at BiltmoreLux.com.