Fancy a $12,000 Hermes bag? Head to a pawn shop
Not just jewellery and Rolexes at pawnshops
Fancy a Hermes, Chanel or Louis Vuitton handbag on a deal?
Visit your local pawnshop.
Branded bags have joined the likes of Rolex watches and gold heirlooms as best buys that can be found at chains like MoneyMax and ValueMax Group
A MoneyMax spokesman told The New Paper: "As long as the item is an authentic piece of jewellery, timepiece or luxury handbag with a resale value, we will take in the item."
It started accepting the bags two months ago.
"The response has been very encouraging and we are very positive about it," said the spokesman.
Another big chain, ValueMax Group, has been accepting and reselling Hermes, Chanel and Louis Vuitton handbags for 10 years.
But these transactions are rare.
The executive director of ValueMax Group, Madam Yeah Lee Ching, said: "Branded bags are not a common category for pawning. We don't display the bags in our outlets so some customers are unaware of this service."
Pawnshops accept items of value brought in by customers for cash.
If they are unredeemed after six months, pawnbrokers refurbish them - by fixing broken parts and polishing - before displaying on shelves for sale.
But some of these goodies are not displayed in stores.
To get access to these treasures, all you have to do is ask the staff on duty to take them out, said the MoneyMax spokesman.
Among the treasures in their inventories are family heirlooms like a gold pacifier and a 2kg Nonya belt made of gold.
ValueMax Group offers collectible items like the Caran d'Ache Hong Kong 1997 fountain pen and antique Rolex King watches, which are now out of production.
Madam Yeah from ValueMax Group said: "Customers are often pleasantly surprised by what good value they can obtain here.
"This is especially since our inventory is full of gems that you can never find anywhere else."
STAR BUYS FROM VALUEMAX GROUP
COUPLE ROLEX KING WATCHES
What is it: Bezel and bracelet set with diamonds, with a dial diamond paved with sapphires.
Original price: No longer in production Retail price: $100,000
What is it: A handmade family heirloom of 20 years with intricate 14K yellow gold, blue sapphires, rubies and diamonds.
Original price: No longer in production
Retail price: $25,000
CARAN D'ACHE HONG KONG 1997 FOUNTAIN PEN
What is it: It was made to celebrate Hong Kong's return to Chinese sovereignty in 1997 and has a pen nib made of 18K gold. With only 1997 pens in the world, it is a valuable collectible item.
Original price: $2,850
Retail price: $1,900
PINK HERMES KELLY
What is it: The Hermes Kelly is a 32cm classic box calf with 24K gold plated hardware.
Original price: Unavailable Retail price: $12,500
BIRKIN EPSOM IN GRAPHITE GREY
What is it: Named after the Epsom leather used, it is a popular choice because of its embossed leather and rigid and structured shape.
Original price: Unavailable Retail price: $12,000
Star buys from Moneymax
What is it: A collectible item weighing 30.11g and made from gold 850 (gold content is 85 per cent)
Original price: Unavailable Retail price: About $1,610, depending on price of gold of the day
18K WHITE GOLD RING
What is it: A white gold ring with 15 dark blue gems.
Original price: $2,199 Retail price: $659
ROLEX LADY DATE JUST 179171
What is it: A 26mm case diameter is made of Everose gold and a stainless steel strap.
Original price: $12,150 Retail price: $7,299
GOLD BELT WITH COLOURED STONES
What is it: At 116g, this family heirloom is made of gold 916 (gold content is 91.6 per cent) and is embellished with purple and turquoise stones
Original price: Unavailable Retail price: $9,462, depending on gold price of the day