If you’re looking to pawn a designer handbag you may have run into some trouble. Depending on where you live, it can be difficult to find a pawnshop that actually accepts designer handbags as security for loans. These handbags carry considerable value but are not regarded by many pawnbrokers in the London area. If you want to pawn your designer handbag, you need to look at Fish Brothers Pawnbrokers.
This London-based pawnbroker has eight branches throughout London and the surrounding areas, as well as an online pawnbroking facility. If you are looking for pawn shops that buy designer bags then they are a great choice. All valuations can be guaranteed and backed-up by expert evaluators. This is a reliable pawnshop that tries to make the procedure as simple as possible.
If you’ve decided you want to pawn your handbag, then your first step is heading to the store or going to their online store. Either way, before you can get your money you are going to have to show them what you have to offer as security. If you are doing it from the online store then they will send a courier that is covered by insurance to pick up your item and bring it safely back to one of their stores. Once your designer handbag is at their store, or once you’ve brought it there yourself, they will assign a value to it. This value will determine the loan they will give you. For example, if your handbag is only valued at £100 you can’t expect to get a £1,000 loan. Your item will act as security in case you aren’t able to repay the loan, so the pawnbroker will give you a loan less than what he thinks the value of the item is. The loan must be repaid within 6 months or you have the option to just repay the interest and extend the loan for another 6 months. Once you have repaid the loan and any outstanding interest your item will be returned to you.
When determining the value of the handbag there are a few things that are taken into consideration. The manufacturer is the first thing that is considered but it is not the only thing. After this, the material, overall style, design, and finally the condition of the bag are all factors. Fish Brothers Pawn Brokers will consider all materials, including leather, snakeskin, and fabric. When they consider the style and design of the bag they will consider current market trends and therefore if your handbag is currently popular or not will play a huge role. Lastly, the condition is a very important part. When determining the value of an item they have to think of a potential buyer. No one is going to want to buy a handbag that is in bad condition. Make sure to look at things like the strap, buckles, studs, hands, and zips when considering where can I sell my designer bag.