Pawn shops buy many kinds of handbags, but the payout is not always hefty. Most pawn shops will not offer more than a few dollars for a bag, regardless of the brand or condition.
However, there are a few exceptions where a pawn shop may offer hundreds of dollars to get its shelves on a designer bag.
How Much Do Pawn Shops Pay For Designer Handbags?
In general, you can expect to receive between 10 and 50 percent of the retail value of a handbag in a pawn shop. For example, if you have a Prada handbag initially sold for $1,000, you can expect to receive between $100 and $500 at a pawn shop.
Remember that big luxury brands like Louis Vuitton, Hermes, and Gucci typically fetch higher prices than other brands. These brands are known for their high prices and luxurious designs.
Therefore, if you have a designer handbag from one of these high-end brands, you can expect to receive a higher percentage of its original value.
Pawn shops, however, usually aren’t the highest bidders when it comes to buying designer bags, so let’s take a look at the difference in market value when selling a designer handbags:
|Designer||Brand New||Pawn Shop Value|
|Chanel||$9,500||$1000 – $4,800|
|Hermes||$12,395||$1,250 – $6,200|
|Louis Vuitton||$4,160||$400 – $2,000|
|Prada||$3,350||$330 – $1,700|
|Gucci||$1,390||$140 – $700|
|Dior||$3,500||$350 – $1,750|
|Fendi||$3,590||$350 – $1,800|
|Michael Kors||$249||$125 – $25|
|Coach||$395||$40 – $200|
As you can see, pawn shops will give you the most money for high-end designer purses because they earn a higher percentage from the resale.
What Type of Handbags Get the Most Money at Pawn Shops?
New designer handbags get the highest offers at pawn shops. At 40 – 60% of the market price, a bag initially costs $2,500 might get you anywhere from $1,000 to $1,500. Pawn shops are also willing to give more money for vintage designer bags, as they tend to hold their value over time.
How Much Do Pawn Shops Pay For Generic Handbags
Letting go of a handbag can be challenging, but if you’re in need of a couple of extra bucks, a pawn shop may be your best bet. Due to older handbags being more difficult to sell, pawn shops will typically only offer between $2 and $20 for a non-designer bag.
However, something is better than nothing! Pawn shops are always looking for new merchandise, so there’s a good chance they’ll be interested in your old handbag.
Just be sure to negotiate the price upfront, as some pawn shop owners can be notoriously stingy.
With a bit of patience and perseverance, you should be able to get a fair price for your old bag. You might even be surprised at how much all those unused handbags in your closet are worth.
How Much is Your Designer Hangbags Worth Online
The internet is one of the most popular places to buy and sell used designer bags. The going rate for a used bag will depend on a number of factors, such as the brand, condition, and age of the bag.
For example, let’s look at the average price of used designer bags sold online vs at market value:
|Marketplace||Brand New||Marketplace Value|
|eBay||$1,000||$500 – $900|
|Craigslist||$1,200||$400 – $770|
|$1,000||$500 – $900|
|Poshmark||$1,500||$800 – $1,350|
|Mercari||$14,00||$1,000 – $1,250|
As you can see, the average prices for used designer bags vary quite a bit depending on the platform. However, in general, you can expect to get about 50% of the market value for your bag when selling it online. This trend is also generally true when selling to a pawn shop.
Factors That Affect the Price of a Used Handbag
When shopping for a used handbag online, many factors can affect the price. One of the most important is the brand name. Many high-end bags can sell for hundreds or even thousands of dollars, depending on the style and condition.
Other factors that can affect the price include the age of the handbag, its condition, and whether it comes with any accessories such as a dust bag. With so many factors to
consider, shoppers looking for a used handbag online will need to do their homework to ensure they get the best deal possible.
Your Risks for Selling Used Designer Bags Online
When it comes to selling used handbags online, there are a few potential risks to be aware of.
- First, there is the risk of fraud. If you’re not careful, you could wind up selling your handbag to a scammer who will never send you payment.
- There is also the risk of getting scammed in the process of buying a used handbag. Be sure to do your research and only buy from reputable sellers.
- Finally, there is the risk of your handbag being lost or damaged in transit. Be sure to pack it carefully and choose a shipping method that will provide tracking information so you can keep an eye on it as it makes its way to its new owner.
Taking these risks into account can help ensure a smooth and successful transaction. If buying and selling your expensive bag online makes you uncomfortable, you can always visit your local pawn shop!
How to Get the Most Money For Your Designer Handbags
Pawn shop appraisers have a knack for finding small details about a designer handbag that the average person would overlook that affect the value. The appraiser will take a look at the bag to examine its condition.
They’ll assess the bag’s condition, the material it’s made from, any branding or logos, and anything else that might affect its value.
They’ll also compare it to similar bags sold in the past to come up with a fair price.
Of course, ultimately, it’s up to the pawn shop to decide how much they’re willing to pay for your handbag – but knowing what they’re looking at will give you a better idea of what to expect.
Here are 6 tips for getting the most money out of your handbag at a pawn shop:
Tip 1: Know the market value of your designer handbag
When selling a designer handbag, it’s essential to know the market value to get the best deal possible. The internet is an excellent resource for finding out the market value of a used designer handbag.
Remember that most pawn shops will only offer a fraction of the market value, so don’t expect to get full price.
Tip 2: Compare prices at different pawn shops before settling on a price.
When selling a designer handbag, it’s important to shop around and get the best price possible. Different pawn shops will offer different prices for the same bag, so it’s essential to compare and find the best deal.
Tip 3: Be prepared to haggle with the pawnshop owner.
When selling a designer handbag, it’s essential to be prepared to haggle with the pawnshop owner. Pawn shops will usually offer a lower price than what you’re hoping for, so be ready to negotiate.
If you don’t feel comfortable haggling, you can always try selling your handbag online instead.
Tip 4: Offer to leave your designer handbag as collateral until you can pick it up later.
The pawn shop may offer you more money for your designer handbag if you’re willing to leave it as collateral until you can pick it up later.
This allows the pawnshop to ensure they’ll get their money back, and it gives you a chance to sell your handbag for a little more.
Tip 5: Bring in all the original paperwork and receipts for your designer handbag.
If you want to get the most money for your designer handbag, it’s vital to bring in all the original paperwork and receipts.
This will show the pawnshop that you’re the rightful owner of the handbag and that it’s in good condition.
This will help them assess the value of your handbag and offer you a fair price.
Tip 6: Understand that you may have to settle
When selling a designer handbag, it’s essential to understand that you may not get the total market value for your handbag.
Most pawn shops will only offer a fraction of the market value, so be prepared to negotiate and settle for a fair price.
Taking these risks into account can help ensure a smooth and successful transaction.
A pawn shop is an excellent option if you’re in the market to sell a designer handbag or any other high-value item.
Pawn shops are popular choices for sellers because they offer more money than selling the item outright to a buyer.
They also provide an easy way to get cash quickly without waiting for the sale to go through. And, if you need the money sooner rather than later, pawning your handbag may be a better option than selling it online.
How To Identify A Designer Handbag
A great skill to have when bargaining at a pawn shop is the ability to identify a designer handbag. There are a few key things to look for when identifying a designer bag.
- First, check the materials. Designer bags are usually made with high-quality materials like leather or suede. They should also have well-made hardware, like zippers and clasps, that are securely attached.
- Second, take a look at the stitching. Designer bags have straight, even stitches that are placed close together. If the stitches are loose or uneven, it’s a fake.
- Finally, check the label. Authentic designer bags will have a label with the brand name and logo on them. If the bag doesn’t have a label, or if the label looks wrong, it’s probably not an authentic designer bag.
By keeping these things in mind, you can learn to spot a fake designer bag from a mile away.
Do Pawn Shops Buy Purses?
At a pawn shop, you can sell all sorts of different items, including purses. There are many kinds of handbags that you can sell, such as clutches, crossbody bags, totes, and shoulder bags. Each type of purse has its own unique features and benefits.
For example, a clutch is a small bag that is typically carried by hand. Clutches are perfect for carrying just a few essential items, such as your phone, wallet, and keys.
A crossbody bag is a bag that features a strap that goes across your body. This type of bag is ideal for hands-free carrying, making it perfect for busy people on the go.
Totes are large bags that can carry a lot of things. They are often used as beach bags or gym bags.
Shoulder bags are similar to totes, but they feature straps that go over your shoulders.
Shoulder bags are great for everyday use or for carrying more oversized items. No matter what type of purse you have to sell, you can be sure to find a buyer at a pawn shop.
How Does The Process of Pawning Work?
Pawning is a process whereby an individual uses an item of personal property as collateral to secure a loan. The lending institution holds the item of the property until the loan has been repaid in full, at which point the borrower can reclaim their belongings.
Pawning can be an attractive option for those who require quick cash but do not wish to sell their possessions outright.
Moreover, it can be a more viable option than other forms of borrowing, such as taking out a payday loan, as pawnbrokers typically charge lower interest rates.
Finally, should the borrower default on their loan, they will only lose the collateral value and not incur any additional debt.
Consequently, pawning can be seen as a relatively low-risk way of securing financial assistance; however, is it the right option for you? Selling outright gets you the highest value for your designer bag.
Difference Between Pawning And Selling Handbags at a Pawn Shop
There is a huge difference between pawning and selling any item, including handbags, in a pawn shop. The difference is relatively simple: when you pawn an item, you are essentially taking out a loan. When you sell an item, you are giving up ownership of that item in exchange for cash.
When you pawn a handbag, you give the pawn shop your (usually designer) bag and they give you the money for it.
Then you have the opportunity to pay back the loan plus interest over a couple of months. The added interest makes pawning the less cost-effective option.
Should I Pawn or Sell My Handbag at a Pawn Shop?
If you are strapped for cash and need a quick dollar, pawning your designer bag might be the first thing that pops into your head. However, there are a few factors to consider when deciding whether to pawn your handbag or sell it outright to a pawn shop:
- First, how much do you need to borrow? If you only need a small amount of money, you may be better off pawning your handbag since you’ll likely get more money for it in the long run. However, if you need a large amount of money quickly, selling your purse may be the better option.
- Second, how attached are you to your handbag? If you’re attached to your handbag and would like to get it back, then pawning it is probably the best option. However, if you’re not particularly attached and are simply looking to get rid of it, then selling it outright may be the way to go.
- Third, what is the current market value of your bag? If your handbag is worth more than what you’re looking to borrow, then selling it outright may be the best option. However, if your purse is worth less than what you’re looking to borrow, then pawning it may be the better choice.
Ultimately, there’s no right or wrong answer when deciding whether to pawn or sell your handbag; it depends on your circumstances.
Thomas Boseman is the author of Pawnbroking.com. A pawn shop owner by day, blog writer by night. When not writing, he enjoys exploring the outdoors with his dog, Roman. Thomas received his bachelor of arts in film from the University of Arizona. A Brooklyn native, Thomas is a lover of filmmaking, motorcycle, and coffee.