Suros Capital has reported a 40% rise in enquiries this year about business purposes for its short-term luxury asset loans.

Cases include helping a solicitor buy into a legal partnership with a loan of £100,000 secured against a collection of watches and a businessman looking to part fund a business opportunity in the hospitality sector was able to raise £315,000 from Suros Capital against his watch collection, including models by Rolex, Patek Philippe, Franck Muller and Panerai, to make the deal happen.

In another case, a wine merchant and collector secured a loan of £100,000 against part of a wine collection, which included a case of Petrus 1982 valued at £42,000 and one of Romanee-Conti 1990 valued at £16,000 per bottle. The wine is stored in a UK based bond facility.

Ed Blackmore (pictured), business development director at Suros Capital, said: “These deals highlight what can be achieved when you work with a lender like Suros Capital that concentrates on providing a service with the minimum of paperwork and invasive personal questions about clients’ financial status.

“Luxury assets can prove to have extra dimensions that can be particularly valuable for their owners. Those assets’ monetary value can be utilised extremely quickly to cover a wide range of needs where short term borrowing requirements must be dealt with quickly and discretely. We just require luxury assets, like these watches or fine wines, to act as security for the loans we make. It is that simple.”