How to Pawn Designer Handbags

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Do you want to know how to pawn designer handbags and generate extra funds out of your closet? If you’re in the position of needing quick money, there’s no need to panic. You may be undergoing divorce proceedings, or a bad breakup. Perhaps you are moving and need quick funds for a security deposit, or you need a down payment for a replacement car after an accident. 

 

VerdeLoans offers support whether you are considering pawn shops for the first time, or looking for a more efficient way to handle their business. We accept designer bags often, so we can help you get top dollar for your Louis Vuitton clutch.

 

How Does a Pawnbroker Work?

 

A pawnbroker, or pawn shop, is a financial services provider that offers collateral loans via a process commonly known as pawning. Pawning an item means giving it to a pawnbroker as collateral for a loan equal to the item’s agreed-upon value. Typically, high-value items such as gold and jewelry, musical instruments, or consumer electronics are top considerations for pawning. However luxury goods, including luxury handbags from designer brands such as Gucci, Chanel, and Burberry, are also increasingly accepted. 

 

For example, if you needed a loan, you could bring a pawnbroker your good condition Burberry Olympia vintage check shoulder bag, which the pawnbroker might value at $800. You would sign an agreement, and you would hand over the bag and receive $800. Later, you could return to the pawnbroker, repay the value of the loan, and they would return the bag to you.

 

A pawnbroker must abide by strict government regulations regarding short-term loans, same as any other financial services provider. The loans a pawnbroker can offer are based on the value of the item/items used as collateral. The differences between pawning and selling an item are:

  • Get your item back: When you pawn an item, it is held securely by the pawnbroker until you pay off the loan, when it will be returned to you. 

  • Use the same collateral: Pawning an item means that you can use it to secure multiple loans, over and over. So long as you pay off each loan before you take out another, the item will likely hold its same value.

  • Quick money: When you sell an item online, it can take days or weeks to find a buyer. Pawning is very fast by comparison. Go to the location, hand over the bag, agree on a value, sign the paperwork, receive the funds in your hand. VerdeLoans makes this process even more straightforward, since you don’t have to leave your home. Our evaluators will come to you to collect and assess the item, and then transfer money to you when a value for the loan is agreed.

  • Safe and secure: Buying and selling online can be a fraught experience. Fraud, especially among individuals, is common. Some people claiming to sell designer purses and bags online are distributing knockoffs at designer prices. Some people phish for financial details from those selling online. But pawnbrokers are required to follow rules that apply to financial service providers which lend money, like banks and credit unions. If you are interested in protecting your rights, consider a pawnbroker instead of selling.

How to Pawn or Sell Luxury Bags

 

Pawning your handbag with VerdeLoans is a simple process. 

  1. You need to take accurate photos of the item: clear and well lit. 

  2. The photos should show the bag in its entirety, and accurately depict its color, size, and quality. 

  3. Any flaws, marks, or imperfections will be discovered later by our assessors, so it is best to be upfront about them. 

  4. If the bag has broken or missing pieces, include any pieces you can in the photos. 

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Where Is the Best Place to Sell Used Designer Handbags?

 

Many online consignment shops are interested in buying your used designer handbags and purses. However, they are businesses that make their money off keeping offers for the goods they accept low. Some will attempt to sweeten the deal by offering store credit, but the goal is mainly to profit by lowballing you on the value of your possessions. However, pawnbrokers will not do the same, since it is in their interests for you to receive the full value of your item as a collateral loan. While interest rates for collateral loans are lower, they still exist. If you repay the loan quickly because they undervalued your item, they make less money. If you are going to be able to pay back the loan soon, it makes sense to pawn, rather than sell, your bags.

 

Buy Sell Pawn Designer Handbags in Los Angeles

 

If you are interested in pawning designer handbags in Los Angeles, VerdeLoans is here to help. We provide financial services to individuals, families, and small businesses throughout Los Angeles. Whatever the occasion, we can help you meet financial needs, expected or unexpected. We offer instant loans for as little as $5 and as much as $25,000. As well as accepting high-end designer bags, we take gold, silver, and fine jewelry and our process is streamlined for your convenience.

 

  • Find us online and tell us what you want to pawn, sending photos.

  • Receive an initial estimate of the loan’s value.

  • Set up a pickup time and location for one of our couriers.

  • After our courier collects the item, receive a final offer.

  • Accept or reject the offer (no charge for rejecting and receiving your item back).

  • Collateral loan is transferred within 12 hours of the offer being accepted and contract signed. No credit checks, no cosigners necessary.

  • Repay your loan over its duration.

  • After full repayment, the item is returned to you.

 

Our lenders can hold your items for as long as 12 months, and interest rates can be as little as 1%. Make those bags in your closet work for you: take out a collateral loan today with VerdeLoans’ stress-free service!