The discovery of a Constable worth £250,000 in the family attic has highlighted the extent of the assets that the ‘baby boomer’ generation has built up.

Now, as the baby boomers start to feel the chill winds of austerity, they are seeking to generate extra cash by selling some of those assets.

That’s the view of borro, one of the UK’s leading lenders against the security of assets such as jewellery, cars and watches. It reports a 56 per cent increase in the number of 50 to 60-year-olds using its services in the past four years and nearly a quarter of all its loans are now to customers in this age group.

The number of over-60s seeking loans has grown even more rapidly, up 66 per cent over the past four years.

Among the more exotic items on which borro has lent money are a Gibson Les Paul guitar worth £80,000, a fancy yellow coloured diamond worth £65,000, a McLaren SLR Roadster worth £120,000 and an Ed Ruscha canvas worth £150,000.

Paul Aitken, chief executive of borro, said: “Baby-boomers are realising that they have some very interesting and valuable personal assets sitting in their homes or in storage, which can be used to release capital. Against the current economic background we are seeing pre-retirees and retirees looking for savvy ways of raising money, perhaps to supplement disappointing pension payments.”