Guide to Pawning Your Designer Handbag in Lawndale
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If you want to pawn your designer handbag in Lawndale, Maxferd’s Lawndale pawn shop should be your first stop.
Pawning your luxury handbag is likely not something you look forward to doing. However, when you need a quick short-term collateral loan, it is the best way to get a fast cash injection.
Whatever your reasons may be for pawning your handbag does not matter. At Maxferd in Lawndale, we are proud to assist our customers by offering convenient pawn shop loans to help them overcome their cash flow problems. Furthermore, we specialize in accepting high-end handbags as collateral.
We aim to make the process of getting a loan as easy and stress-free as possible. At Maxferd, we are committed to doing everything in our power to meet the needs of our customers by giving them a fair evaluation of the handbag they wish to offer as collateral.
Read on to learn:
- Why our Lawndale pawn shop is the best place to pawn your luxury handbag
- How the process of pawning your handbag works
- Tips on what you can do to get the best deal
Why Pawn Your Designer Handbag at Maxferd Lawndale?
The reasons why you should pawn your luxury handbag at our Lawndale pawn shop include:
1. Convenient Location
Our shop is conveniently located at 16510 Hawthorne Blvd. (on the corner of Hawthorne Blvd. and 166th St.). If you live or work in the area, it’s probably closer to you than our other Los Angeles pawn shops.
2. We Respect Your Privacy
All transactions are confidential. Besides reporting transactions to law enforcement, as is legally required, we do not divulge your personal information to anyone. Nobody will know if you obtain a pawn shop loan from us unless you tell them.
3. Safe From Scammers
There are many pawn shop myths, but the reality is that pawn shops are one of the most regulated industries in the United States. We want our customers to have a good experience when dealing with us so they will do business with us again in the future and hopefully recommend us to others.
4. Free No-Strings-Attached Evaluations
Our Lawndale pawn shop has many years of experience dealing with designer handbags. Our in-house experts know and understand the ins and outs of the luxury handbag market. You have nothing to lose by bringing in your high-end handbag for a free evaluation.
5. We Are Open to Negotiate
Feel free to negotiate the amount you need to borrow based on the handbag you wish to pawn as security for your loan. We will never pressure you to accept our offer.
6. No Waiting
When you pawn your handbag at our Lawndale pawn shop, you can get a collateral loan the same day you bring it to us. We approve most loans in under an hour.
How to Pawn Your Designer Handbag
Pawning your luxury handbag at our Lawndale pawn shop is a quick and easy 5-step process.
Step 1. Come in for a quick over-the-counter evaluation of your handbag.
Step 2. Receive your verbal quote in minutes.
Step 3. Provide valid identification, such as your driver’s license or ID card. We also need to take your thumbprint as required under CAPSS (California Pawn & SecondhandDealer System).
Step 4. We write your loan and print your contract, ready for you to sign and save for your records.
Step 5. We safely store your handbag and pay you in cash, by wire transfer, or by check according to your preference.
How Much Can You Borrow?
The amount we can lend you depends on how much we could reasonably get for your handbag should you default on your loan agreement.
Pawn shops always try to determine the market value of a handbag – the price at which it would sell in a competitive auction – before making you an offer. Note that we cannot lend you the market value as we carry all the risk in storing, transporting, and reselling it.
Variables that determine the value of your designer handbag include:
- Demand – Is it popular and in high demand?
- Condition – Is it in good condition or does it need repairs and show a lot of wear and tear?
- Completeness – Does it come with its original packaging, paperwork, and accessories?
- Brand recognition – Is it a well-known and sought-after brand?
The top designer handbag brands include:
- Bottega Veneta
- Saint Laurent
- Paco Rabanne
- Christian Dior
- Louis Vuitton
Although the resale value of luxury handbags fluctuates over time, three designer brands that tend to maintain a high resale value are Chanel, Hermès, and Louis Vuitton. This is particularly true of the following:
- Chanel Classic Flap Bag
- Chanel Boy Bag
- Hermès Birkin
- Hermès Kelly
- Hermès Evelyne Bag
- Louis Vuitton Neverfull
- Louis Vuitton OnTheGo Tote
Tips for Pawning Your Handbag to a Pawn Shop
Here are five tips that might help you get a higher pawn shop loan:
#1. Clean Your Handbag – A clean bag indicates that you are a responsible owner and will likely settle your loan on time to reclaim it.
#2. Include All Accessories – Including accessories might increase the value of your bag.
#3. Try to Establish What Your Bag Is Worth – Knowing the market value of your bag might help you negotiate a better deal.
Here are two ways to help you establish the market value of your designer handbag:
- Sold Listings on eBay
Search for your handbag on eBay. Find the “Show only” heading and tick the “Sold Items” block. It will show you recent sales and how much they are currently going for.
LiveAuctioneers.com has a database with more than 29 million results of what items, including luxury handbags, sold for at auction.
#4. Negotiate – Pawn shops are typically open to negotiating with customers.
#5. Choose the Right Pawn Shop – Choose a pawn shop that deals in high-end bags like Maxferd’s Lawndale pawn shop.
Selling vs. Pawning Your Luxury Handbag
Pawning your designer handbag is not always the right option for every customer. For example, if you are no longer attached to it and can put the money to better use, it might be better to sell it to us.
For more information, read our ultimate guide to selling your luxury handbag to a pawn shop.
That’s a Wrap
We hope that this breakdown has given you a better understanding of:
- Why our Lawndale pawn shop is the best place in Lawndale to pawn your handbag
- How the process of pawning it works
- What you can do to get the best deal
At Maxferd, we have decades of experience evaluating designer handbags and have built an excellent reputation for offering our customers fair collateral loans.
If you have questions about a handbag you want to pawn or have evaluated, don’t hesitate to contact our pawn shop in Lawndale.