There’s money in bags

For those who find themselves addicted to handbags, they will soon realise that turning it into a full-time hobby can be quite expensive and intimidating. Everybody knows that designer handbags are very expensive. Well-known brands such as Hermes, Louis Vuitton and Chanel consider their products more than just accessories: they are also masterpieces and works of art that are beautifully crafted. 

You might be wondering why luxury handbags command a steep price. What makes a Hermes Birkin bag more valuable than an ordinary leather bag in the department store and why are people willing to pay top money for such luxury items? Let us take a closer look at the factors that influence the value of luxury handbags.  

• Components. If you will hold an authentic Chanel handbag in one hand and a counterfeit bag in the other, you can actually feel the difference. The leather that is used in making luxury items is often calfskin, lambskin and fine quality skin from other exotic animals. The metal accents and components are often made with real gold, silver, palladium and sometimes encrusted with Swarovski crystals or real diamonds. When it comes to luxury handbags, the more valuable the materials, the more valuable the product is. 
• Craftsmanship. If you will look closely, you will notice that a luxury handbag is carefully made and crafted by artisans: every stitch is perfectly done and the quality of the final product is so flawless that if looked after well, it could last a lifetime to be passed on from one generation to another. With luxury handbags, you will always get what you pay for. 
• Exclusivity. Since luxury bags are not manufactured through mass-production, only a handful of pieces can be released at a time. The market for designer handbags has never waned throughout the years. Just like everything else, its steep prices are dictated by the law of supply and demand. Because the supply is limited but the demand is high, the prices will naturally go up. This doesn’t deter handbag collectors though. Some of them are even willing to stay on waiting lists for many years until their next designer handbag is ready to be delivered to them.
• Investment. Can you think of items with value that increase over time? Luxury cars are expensive but most of them will decrease in value throughout the years. Rare collectibles such as vinyl records, toys or comics can sometimes make the cut. Luxury handbags, on the other hand, are exceptional. In the secondary market, it is not uncommon for the rate of a luxury handbag to go over the original price when it was initially bought. Most handbag collectors even consider luxury handbags a better investment than gold because its value rises quickly due to the incessant demand for these luxury items.

There are moments in our lives when we need to raise money to address some financial issues. One of the quickest ways to get quick cash is to release some of the value that is tied up in our valuable items. When thinking of items to pawn, you might initially think of your watch, sunglasses, laptop or smartphone. You might be surprised to know that pawnshops also accept luxury handbags. Some pawnshops will even take it on a sale or loan basis. 

Why should you use your handbags?

Aside from the fact that designer handbags are stylish and desirable, they hold a lot of value. That is why a lot of pawnshops accept them. So, if your designer handbag no longer appeals to you, not used as often as it should be or just collecting dust on your storage shelf, it might be worth digging it out.

Gem Pawnbrokers are interested in various types of handbags including tote, sling, clutch and shoulder bags. We offer great deals for many luxury handbag brands such as Chanel, Prada, Jimmy Choo, Burberry, Louis Vuitton, Yves Saint Laurent and Gucci. 

What to check before bringing your bag to us?

First of all, you need to clear away all items inside your bag. Although people who are interested in buying second-hand bags, won’t be interested in buying one that’s filled with items from its previous owner. In addition, this is for your good too. If you happen to leave your smartphone or designer sunglasses in your bag, that is going to cost you some tears and dollars.

 

Nobody wants to buy a filthy bag so make sure you clean it thoroughly. Check the surface of your bag and wipe away any dirt. Since it is fairly easy to ruin designer handbags, use the appropriate cleaning solution for the type of material your bag is made of. For instance, if your bag is made of suede, use a suede cleaner. If it’s made of leather, use a cleaning solution meant for leather. After making sure that your bag is clear of any items, make sure it is free from other stuff too, such as food crumbs or makeup marks. 

 

The overall condition of your item will determine its price, along with its brand, materials, and style. The current fashion trends will also dictate the desirability of your item. Before showing it to us, do not forget to check it thoroughly. Don’t miss out the buckles, zips, lining, straps and handles and make sure they are well-maintained. Check for any signs of wear and tear in those components and if they need to be repaired, find a professional who can do so.

Don’t want to permanently part with your bag?

If your handbag means so much to you, you do not have to part with it. Just use it as collateral and get it back as soon as you have gained the extra funds to claim it, within the allotted time frame of course. 

Unlike conventional loans, pawnshop loans are quick and easy. It is a great way to access fast cash. We won’t be running a credit check. We just need your item and your identification. 

As soon as you bring your item to one of our branches in New York, we will appraise it and find out its market value. From there, we will make you a fair offer. If you will agree with the offer, we will clearly discuss the terms of the loan, putting emphasis on the length of the loan, interest and amount. If you will accept the terms, we will take the luxury handbag and store it securely for the length of the loan so it can be returned to you in the same condition. If needed, you can extend the term of your loan by paying off the interest or claim your luxury item at an earlier date.

Just want to sell the handbag

If you simply want to sell it, we’d love to buy it! Just visit one of our stores and we will appraise it and give you a fair offer. 

So that you will get a bigger deal than what you expected, you just need to prove its authenticity. If you are the original owner of the bag, find the warranty card, authenticity card, receipt, bag protector and box. Basically, you just need to bring it along with the stuff it came with. These things will help the pawnbroker appraise the item faster. If you don’t have access to the receipt or authenticity card, expect a longer appraisal time. 

 

If you want to know how to pawn your luxury handbags for the most money possible, you have come to the right place. Knowing what to do will keep you from going from one pawnshop to another, comparing offers and looking for the highest bidder.

1. Visit our website.
2. Click the Get A Loan or Sell My Item button.
3. Click Fashion Goods.
4. Click Handbags.
5. Enter the brand of your handbag then click the Next button.
6. Enter the requested loan amount for your item.
7. Tell us more about your item - Enter the Original purchase price (optional), Upload photos of item (optional), Upload original receipt or appraisal, Additional item description (optional).
8. Enter your Zip Code, Email address, Phone number, First Name and Last Name then click the Next button.

After sending your details, we will check your item, give you an initial offer and contact you with details on how to finalize the transaction. After that, you can walk out with quick and easy cash in hand. It’s that easy!

If you are planning to sell your item, the process will actually end there but if you are planning to pawn it, you need to be familiar with the extra steps. To get your item back, you need to pay the money back along with its fees and interest within the date specified on the terms. These important details will be discussed by the pawnbroker before the transaction is completed. If you are not able to pay the loan in time, the pawnshop will forfeit your item.

The market for authentic designer handbags is currently insatiable. You are almost always guaranteed a good deal when it’s time to sell it. So if you are in need of quick cash, just get in touch with us Gem Pawnbrokers today!