Do Pawnshops Buy Purses?
Hermes. Chanel. Louis Vuitton. Shoppers salivate at the mere thought of these luxury handbags. People spend thousands and thousands of dollars just to own these status symbols, and even invest more in upscale bags than they do in real estate or the stock market. But when the need for cash becomes too great, where does one turn to sell their luxury purses?
Do Pawnshops Buy Purses?
The answer to this question is, it depends! There are some pawnshops that will purchase all kinds of handbags from Michael Kors to Gucci. Whereas other pawnshops, such as Beverly Loan Company, will only purchase top-of-the-line luxury purses, such as Hermes Birkin and Kelly bags. (They also accept certain Chanel and Louis Vuitton purses in excellent condition.) It is always a good idea to do your research and find out what types of bags each pawn shop will accept.
Can I Receive a Loan on a Handbag?
You can always pawn your handbag if you’re not quite ready to part with it. Some handbags are family heirlooms or have a sentimental attachment, so selling them are not always a first option. Receiving a loan on a purse is fairly quick and easy. You will bring the item to a reputable pawnshop, they will provide an evaluation and tell you how much the item is worth. You can then decide to either sell the item outright, or take out a collateral loan on the item. If you choose a loan, the pawnshop will give you cash in hand and hold your purse as collateral. You then pay interest to the pawnshop until you are ready to retrieve your item. If you no longer wish to pay the interest, the pawnshop will foreclose on your purse, and can then resell it to the public.
Do Pawnshops Sell Purses?
Certain pawnshops will have luxury purses in inventory for sale. These handbags are often discounted as they are not brand new. Always call the shop first to find out what inventory they have in stock. Beverly Loan Company has a limited amount of auction-worthy Birkin and Chanel bags for sale. You may be able to score a pristine, vintage Birkin bag at a great price!
Are Pawnshops Trustworthy?
There is a stigma attached to the word “pawnshop” that has existed for quite some time. But a pawnshop is just a quicker way to receive a loan and leave with cash in hand, than say a bank loan. There are many types of pawnshops, and it’s always recommended to work with a reputable company. Beverly Loan Company is a family owned and operated business since 1938. All transactions are strictly confidential in a secure and safe setting. All items are kept in bank vaults, and the store is protected by an armed guard on duty at all times.
How To Prepare Your Handbag for Loan or Sale
When receiving a valuation on your designer bag, you will want to make sure that it is in the best condition it can be. Clean out all pockets, and have the bag professionally cleaned. Pawn shops will consider general wear and tear when assessing your bag, and the high-end stores will require the bag to be in excellent condition. Make sure nothing valuable is left inside the purse. You will also need provenance to prove the authenticity of the bag, specifically a receipt from the retailer where the bag was originally purchased. Most high-end purses also come with some sort of card or certificate, so be sure to include those. Lastly, it’s always advised to call the pawnshop and make sure they accept your type of bag before visiting the store.
Where Can I Pawn or Sell my Luxury Handbags?
At Beverly Loan Company, we would love to evaluate your Hermes, Chanel and Louis Vuitton purses. We do have very specific criteria when purchasing or loaning against these brands: the retail value must exceed $5,000, and the item must be in pristine condition. We generally do request provenance to prove authenticity, specifically a store receipt where the bag was originally purchased. Come visit us on in the Bank of America building on Beverly Drive, and find out what your designer bag is worth. Please call us with any questions: (310) 275-2555.