Some people don’t realize their luxury handbags are worth quick cash. Pawn shops often buy pre owned luxury handbags or have their customers use them as collateral for collateral pawn loans.
There are many types of luxury handbags. Louis Vuitton, Hermes, Chanel, Coach, Gucci, Prada, Yves Saint Laurent, Balenciaga, Bottega Veneta, Celine Givenchy, Chloe’, and Valentino. These are just a few of the marvelous bags available on the market today.
Handbags became popular in history to carry necessary items for fire-starting, hunting, and from village to village.
The first “designer bag” was dated between 2500 and 22000 B.C. It was adorned with dog teeth. As people began traveling by rail, they started using handbags as a means to transport their most needed everyday items.
Designer handbags began as a “status bag” in 1945 by Giuliana Camerino. Luxury fashion designers like Chanel, Vuitton, and Hermes soon followed, and in 1950 the desire and status to carry a luxury handbag blossomed.
Designer bags say something about the person wearing the bag. They have become a status symbol and make a statement. All luxury handbags are made with genuine materials and detailed craftsmanship.
Depending on the manufacture of the bag, what materials are used, and how detailed the bag is sets each manufacture apart from another.
Louis Vuitton Bag
A Louis Vuitton bag cost a pretty penny when you purchased it new. In 1859, Louis Vuitton started a journey to becoming a company recognized within the fashion world. By 1925, a dome-shaped designer purse was designed for personal use. The purse was in high demand, and today many women carry genuine Louis Vuitton purses. Louis Vuitton bags first appeared in 1930, the Keepall. It was a handbag designed for everyday use.
Louis Vuitton bags are waterproof and fireproof. The company only uses premium materials when making their bags. A Louis Vuitton handbag is immediately associated with status and luxury.
LV bags are available directly through their official website louisvuitton.com and high-end department stores like Saks, Nordstrom, Neiman Marcus, and Bloomingdale. Louis Vuitton does not discount their purses. In fact, Luis Vuitton burns unsold pieces to protect their rare and desired products.
Authentic Louis Vuitton bags that are not sold are part of the products disposed of. Another reason Louis Vuitton engages in an end-of-the-year burn is because of the “duty drawback” law. The law states that if a product is imported into the US after paying a duty, it is destroyed after customer notification, and the duty is paid back to the company.
Louis Vuitton bags are expensive, and the duty is about 15-25%. By burning the unsold purses, the company makes up some of their loss by getting the duty back.
Georges Vuitton designed the Luis Vuitton monogram in 1896. It was a branding effort for his luggage business, and is now a recognizable mark on each genuine Louis Vuitton bag.
The tail of the “L” is short. The “O” is round, not oval, and looks larger than the “L”. The “T” should be almost touching and close together.
The logo is similar and referred to as the LV monogram.
The signature monogram pattern is never reversed or done with additional colors. The Monogram pattern is symmetrical from left to right, and a counterfeit bag is easily spotted compared to an authentic Louis Vuitton bag.
Some designer handbags hold their value better than others. For instance, the Louis Vuitton Neverfull bag is one luxury bag that holds its value even sold pre-owned.
The Louis Vuitton Neverfull
The Neverfull was made after 2007. It is made from a Monogram canvas with natural cowhide trim. It has side laces that create a sleek look, and can be carried on the arm or shoulder.
The Neverfull Monogram has a tan interior with thin brown stripes, giving the handbag a sophisticated look. Originally, the luxury handbag was made only with Beige lining in Monogram, Damier Azur, and Redlining in Damier Evene. This remained true from 2007 until 2014. The luxury handbag has a detachable clutch that can be used on its own or attached to the interior of the purse.
Where to Pawn a Louis Vuitton Handbag or Other Designer Handbags
A real Louis Vuitton handbag can be expensive. They are an exclusive brand that continues to draw customers who want to know one for their own personal use or to add to their Louis Vuitton collection. Vintage Louis Vuitton bags and modern handbags in style for 2022 with a dust bag and an authenticity card will both demand a high price.
Maybe you have designer handbags in your closet, neatly stored away, and now you need fast cash. Did you know that they can be pawned?
Pawn shops will appraise and authenticate your designer handbag and Louis Vuitton handbags, and give you a quote to either sell them outright or take a short-term collateral loan. The bags are used for collateral, and once the loan is paid in full, the designer handbag is returned.
There are online stores that advertise they will buy gently used Louis Vuitton bags at a reduced price. You have to mail the bag to them and wait for a check. A drawback is the authenticity process used for these bags. Unless you have all the original paperwork, you may not get a fair price because you can’t authenticate your purse on your own before trying to sell it.
Nor are there online stores that will lend money using your designer handbag as collateral, so you will permanently lose your bag. If you don’t need to sell designer handbags to get quick cash, maybe a pawn loan is the answer so you can get your bag back.
Visiting a trusted pawn shop may create an option for you. Luxury bags are something pawn shops will consider collateral. If you have the original paperwork and dust cover even better.
Licensed and State regulated pawnbrokers offer consumer loans secured by personal goods. Pawn shops provide short-term, safety net loans to approximately thirty million Americans, many of whom cannot secure financing in any other way.
Unlike conventional banks, pawnbrokers make $10, $40, $100 and other low principle cash loans to their communities.
The pawn system is fairly simple. A person brings in an item of value to a pawn shop, and can either offer to sell it outright to the shop owner or pawn it. Traditionally, pawning an item means borrowing against the item (collateral) and leaving the article as security until repayment of the item is made.
If you cannot pay the loan back, you simply do not pay to redeem your loan, the item is foreclosed to the pawnbroker, and you are not subject to a negative credit report entry. This is called a non-recourse loan. Nothing goes on your credit report.
This is called a non-recourse loan. You simply lose title to your item. If you return to pay back the pawnbroker for your loan, on or before the due date, you get your item back. (There is, of course, interest charged and fees associated with the loan-a contract.)
California Pawnbrokers have some of the lowest interest rates in the country.
Now knowing this, obtaining a pawn loan for quick cash from a pawn shop using your Louis Vuitton as collateral is easy.
Western Loan and Jewelry – The People’s Bank
Each luxury bag you own has a potential to be quick cash. Western Loan and Jewelry has luxury bags for sale, and they buy and write non-recourse loans using the luxury bag as collateral.
Western Loan and Jewelry is a CAPA trusted lender and is defined as a well-rounded community conscientious business.
At Western Loan & Jewelry, they offer various pawn shop service for their customers throughout Los Angeles and surrounding areas. They have an online pawn shop with an avenue to get online quotes in Los Angeles if you want to sell or borrow against your gold, gold coins, fine jewelry, designer bags, luxury watches, name brand electronics and musical instruments.