Luxury Handbags Becoming Pawn Shop Stars


Handbag lovers . . . Pawn shops may be the newest and next place to find the hottest luxury brand. For those of you unfamiliar, a pawn shop (or a pawn broker as owners are known) is a place to get a short term loan using your personal property as collateral. You bring your goods to shop, the pawn broker looks it over and if he/she thinks it can ultimately be sold, you will be offered a loan for a small percentage of the value and charged interest and/or fees for the service. Typically the term is one to four months. You can then pay back the loan (with interest and fees) and reclaim your item.

For shoppers, a pawn shop may offer bargains otherwise not available. After all, the pawn broker’s basis in the item is low. Typical goods found in pawn shops include jewelry, musical instruments, and electronics.

So what does all of this have to do with luxury handbags? According to a recent article, there’s a pawn shop that specializes in designer bags. Prestige Pawn in the Chelsea section of London claims it offers a quick and safe way to raise capital, as well as a place to buy these bags. Recently, they say they had two rare Hermès bags.

What do you think of pawning (or buying pawned) Hermès bags?

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