Luxury Asset Loans in Seattle, WA

Washington levies no personal income tax, yet it taxes the sale of long-term capital assets. For a Seattle owner of watches, jewelry, art or gold, that single distinction is the reason to borrow against an asset rather than sell it to raise cash.

Why a loan, not a sale, in Seattle

Washington has no personal income tax — Initiative 2111 (2024) codified the prohibition at RCW 1.90.100, barring the state and any county or city from taxing individual income as defined in 26 U.S.C. Sec. 61. Instead, the 2021 Legislature's ESSB 5096 (RCW 82.87) created a 7% excise on the sale or exchange of long-term capital assets such as stocks, bonds, business interests and other tangible assets. Beginning tax year 2025 the rate is tiered: the first $1 million of taxable Washington capital gains is taxed at 7%, and amounts above $1 million at 9.9%. The 2025 standard deduction is $278,000. The Washington Supreme Court upheld the measure as an excise on the act of selling, not a tax on income, in Quinn v. State (2023).

The tax reaches few people — the Department of Revenue estimated roughly 0.2% of taxpayers, about 7,000 individuals. Those are also the owners most likely to hold the assets we lend against, and selling to raise liquidity is exactly the taxable event this structure penalizes. An asset-backed loan is not a sale; it does not itself trigger the excise.

Where the wealth sits

Seattle is estimated to have 54,200 millionaires, 130 centimillionaires and 11 billionaires (Henley & Partners) — the seventh-most millionaires of any U.S. city. By density it ranks No. 2, about 1 in every 14 residents, behind only the San Francisco Bay Area at roughly 1 in 13. That count covers city limits and excludes the Eastside. Much of the paper wealth is tech equity: Amazon employs about 49,800 people in Seattle and more than 90,000 statewide, though its city head count has dipped below 50,000 and it has ceded the title of Seattle's largest employer to the University of Washington.

Collateral we understand

Seattle supports the collateral this desk lends against. Turgeon-Raine, Inc. is an official Patek Philippe retailer in the city, and Ben Bridge has been an Official Rolex Jeweler downtown for more than 110 years — the kind of authorized-dealer presence that matters for authentication and valuation. For fine art, the Seattle Art Fair, founded in 2015 by Paul G. Allen and produced by Vulcan Inc. and Art Market Productions, drew 22,500 visitors in 2017, evidence of a settled local collector base.

We advance against watches — including Rolex and Patek Philippe — jewelry, gold and fine art, holding the pledged item securely for the term.

The Washington rules that shape terms

Lending against personal property such as watches and jewelry falls under Washington's pawnbroker statute. Under RCW 19.60.060, for loans of $100 or more, interest may not exceed four percent per thirty-day period, and Washington law sets no maximum loan amount. The term is ninety days including the loan date; a pledged article may not be sold until at least ninety days have passed, and if it is not redeemed within that term the lender acquires all right, title and interest in it.

Two changes are worth flagging. HB 1269 (2025) would shorten the term from 90 to 60 days and raise the cap from four to five percent per thirty-day period — confirm its status before treating the 90-day, 4% figures as settled. Separately, ESSB 6346 would impose a 9.9% tax on income above $1 million from January 1, 2028, with a likely repeal vote anticipated November 3, 2026; it is forward-looking, not current law.

How to start

Loans are originated by licensed lender partners. Any rate, term or advance shown here is general guidance, not a loan offer, and nothing on this page is an approval. Terms depend on the asset, its documentation and current statute. Review our process and the frequently asked questions before you bring an item in.

Loans are originated by licensed lender partners. Loan offers, terms, rates and final decisions are made by the originating licensed lender at appraisal — figures shown here are general guidance, not loan offers.

Last reviewed August 2, 2026.