How much could you pawn an Oscar for?

13 February 2014

With all the cars, jewellery and untold riches Hollywood has to offer, you would think the stars of stage and screen would be financially secure.

But it seems even Oscar winners run into cash-flow problems after high-end pawnbroker borro announced it has taken possession of a prized statuette in return for a loan of £43,000.

The broker has become used to taking in high-valued and unique items from the rich and famous but it is the first time it has taken in one of the film industry's iconic awards.

Paul Aitken, chief executive and founder of borro, said: "Over the last five years we've seen a huge increase in wealthy individuals using their personal assets as collateral for loans, however the Oscar statuette is a first for us."

But he's staying tight-lipped about who the winner is.   

"As with all our loans - especially those on highly unique and identifiable assets - client confidentiality is of utmost importance, and so the award-winner in question here remains a secret," he said.

Among the unique items borro has previously issued loans against include a Steve McQueen bike (£13,000) and props from his 1971 flick Le Mans (£17,000). Since borro was launched in 2008 it has issued almost £70 million to individuals, offering loans of up to £1 million.

Aitken added: "Our clients bring new and exciting items to us all the time, and if we can lend against them, we will."

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