HOW TO SELL YOUR LUXURY HANDBAG TO A PAWN SHOP
by Amy King
Want to sell your luxury handbag and don’t know where to start? It can be scary. You’re probably asking yourself questions such as:
- Who do I sell my handbag to?
- Where do I sell my handbag?
- What is my handbag worth?
In a world of scammers and sketchy buyers, the last thing you want to do is get ripped off.
By the end of this article, you should have a better understanding of why a pawn shop is one of the best places to sell your luxury handbags. You’ll also learn the step-by-step process to selling your handbags to a pawn shop, and how to get the best deal.
WHY SHOULD I SELL MY LUXURY HANDBAG TO A PAWN SHOP?
- Free Evaluations
- Pawn shops typically have years of experience buying and selling luxury handbags. They often have experts who know all about handbags. If you are unsure about the value of your handbags, take it to your local pawn shop for a free evaluation.
- No Worrying About Listing, Insurance or Shipping Fees
- When selling on sites like eBay, it takes time to list the item and take quality pictures. It can be a hassle! And sellers may have to provide insurance, shipping and handling. By selling to a pawn shop, it makes the process simple and easy. Plus, it saves you time.
- Pawn shops keep the identities of their customers confidential. No one will know you sold your handbag unless you tell them.
- Face-to-Face Negotiations
- By being able to negotiate in person, you are much more likely to reach an agreement faster than talking to a faceless stranger through messages or email.
- It’s Safe
- No need to worry about scammers or sketchy buyers.
- Pawn shops are one of the most regulated industries in the United States, despite popular belief and misconceptions about the business. Most shop owners have spent years building their reputation and customer base. They are not likely to try and scam their customers for short-term gain.
- Get Paid Today
- Selling to online marketplaces, like eBay and Facebook is time consuming and there is no guarantee it will sell or sell at a fair price. When selling to a pawn shop you can walk in with your handbag and leave with cash the same day!
STEP BY STEP PROCESS TO SELLING YOUR HANDBAG TO A PAWN SHOP
- Step 1 – Find a local pawn shop
- Step 2 – Get a quick, free evaluation of your handbag
- Step 3 – Receive a verbal quote (usually in minutes)
- Step 4 – Provide valid identification
- Step 5 – Get paid
It’s that simple!
- Find a Local Pawn Shop
- Do a Google search for “Pawn Shops Near Me”
- Check the ratings and reviews of the pawn shops
- Not all pawn shops buy/sell luxury handbags. Call ahead and ask.
- Get a Quick, Free Evaluation
- Pawn shops have many ways to evaluate your handbags and it doesn’t cost you a thing.
- Receive a Verbal Quote
- Within minutes, you can have a quote for your handbag.
- Determine if this quote is enough for you to part with your handbag.
- If not, try to negotiate a better price.
- Provide Valid ID
- If you have decided to sell your handbag you must provide valid ID in the form of a driver’s license or state ID.
- Get Paid
- You can walk out with cash in your hand!
How Will My Handbag Be Valued?
Pawn shops use a variety of tools to value luxury handbags. They include the following:
- Market Value
- Pawn shops do their best to determine the market value of your luxury handbags. The market value is the price which the handbag would typically sell for.
- The main method pawn shops use to determine the value of your handbags is their experience. They know the typical market value of your handbags and how long they usually take to sell.
- What Similar Handbags Sell for at Auction
- Sites like Ebay are often referenced to determine what handbags of the same make/model and condition are selling for.
- Condition of your handbag plays an important role in how much you can expect to receive from your handbag. Customers do not want to purchase a handbag in bad condition. If your handbag has stains, scratches, odors, or loose threads, the pawn shop will likely not accept it. (Non-smoking household preferred)
- Pawn shops are more apt to pay more when your handbag has the original packaging and paperwork. This will also help prove its authenticity.
Top Luxury Handbag Brands
- Louis Vuitton
- Christian Dior
- Saint Laurent
- Dooney & Bourke
- Michael Kors
HOW TO GET THE BEST DEAL
- Clean Your Handbag
- Clean your handbag inside and out. It may increase your handbag’s value. A clean handbag shows how well it has been taken care of. (Be careful using harsh cleaners as they may damage the material.)
- Include All Accessories
- You may receive a better deal if you still have the original packaging and papers, such as a warranty or receipt.
- Remember to include all accessories, such as extra straps and dust bags.
- Try to Determine How Much Your Handbag Is Worth Ahead of Time
- Knowing the approximate value of your handbag will help you negotiate a better price. This will help you maximize the value of your handbags.
- Check sold listings on Ebay
- Pawn shops are usually a bit flexible and are willing to negotiate.
- Consider Selling Your Handbag on Consignment
- If you’re not in a hurry to sell your handbag, you might consider selling it on consignment. You would only get paid once the handbag sells and the pawn shop will charge you a commission fee, but they will do all of the hard work for you and your percentage of the sale price will be higher.
- This also allows you to have your handbag for sale in a retail storefront without actually having to own a store.
Selling vs Pawning
- If you are not ready to part with your luxury handbags and need cash, consider pawning it. For a reasonable finance charge, you can borrow the cash you need and redeem or pick up your handbag at a later date.
After reading this article, you should have a better understanding of why a pawn shop is one of the best places to sell your luxury handbags, learn the step-by-step process to selling your handbag to a pawn shop and how to get the best deal.
Even if you are not ready to sell your luxury handbags, but need quick cash, there’s no better place to go than a pawn shop. You can pawn your handbags and redeem it 30-60 days later and just borrow on its value.