phone:561-347-8635
text:561-702-0944
Boca Pawn Shop

#AskBRP Episode 31

In Episode 31 of #AskBRP I updated you guys on the PayPal situation, let you know why I love to buy Louis Vuitton and Chanel but not Prada and Gucci, and tell you about a couple of the coolest items in the shop.  Sell handbags Boca Raton.  If you have any questions you’d like to ask email me at Seth@BRPLuxury.com.

PayPal Update

As most of you know, PayPal has been jerking us around for almost two months now.  At first they limited our account with no warning and wouldn’t let us withdraw any money to our bank account.  This is a huge issue as I need capital to fund future loans and purchases.  I cannot fund those loans if my funds are tied up on PayPal.  Anyway, after some arguing back and forth they decided to let us withdraw funds but not un-limit the account.  They keep asking me for personal business info like examples of sales we make etc.  It seems a bit intrusive.  However, I did find out that it is the government requiring them to ask these questions and not PayPal themselves.  So while it is annoying I understand and will just have to deal with it until it’s over.  Hopefully that won’t be too much longer.

Gucci & Prada vs Louis Vuitton & Chanel

Since we advertise that we buy, sell, and lend against luxury designer handbags I get calls all day asking if I accept this bag or that bag.  To be honest, we only buy a select few brands of designer handbags.  We get calls all the time for Gucci and Prada bags but most of the time I have to pass.  Why?  Brands like Gucci and Prada and other brands like Coach or Michael Kors don’t hold their value in the pre-owned market.  Even though you’d associate a brand like Gucci or Prada with brands like Louis Vuitton and Chanel the fact of the matter is they are more like Coach or Michael Kors.  LV and Chanel bags do not go on sale, ever.  That’s what separates them from those other brands.  You don’t realize it but Gucci and Prada bags do go on sale.  You can find them all the time at outlet stores like Off 5th or Nordstrom Rack.  While this increases sales and revenue with these companies, it decreases the overall value of the product they are selling.  I can sell a Louis Vuitton Neverfull that retails for $1,260 for over $1,000 pre-owned!  Why?  Clients are glad to save a couple hundred dollars because they know that bag will never go on sale.  In fact, Chanel and Louis Vuitton are constantly increasing their retail prices every year, so it will only get more expensive.

Coolest Items in the Store

At BRP Luxury, we are pretty narrow when it comes to what we purchase.  It tends to be primarily jewelry, watches, and handbags.  However, whenever we come across something very rare we can always take a chance.  A few months ago a gentleman came to us with a gold record from The Beatles!  It was awarded to the band for selling 500,000 copies of “Something New”.  This is definitely not an item you see everyday.  But besides the gold record we also have a Rolex with a retail price close to $100,000.  It is made in solid platinum with diamonds around the bezel and on the dial.  Also a watch you don’t see everyday.


Written by: