What Is Luxury Pawning?

One man’s luxury “trash” can become your beautiful new treasure, thanks to the growing popularity of luxury pawning.

Also known as high-end pawning, luxury pawning is an easy way to use unique luxury items as a source of quick cash. After all, just because someone is asset-wealthy doesn’t necessarily mean they are cash-rich.

You can find plenty of jaw-dropping deals on luxury items at pawn shops. Finding these hidden gems is often the goal of many bargain-seekers. Especially those who may have champagne tastes on a much smaller budget. Here are some of the exclusive luxury goods you may discover at your favorite pawn shop.

The finest of the fine art

If you’re like most people, the only time you can experience or see a famous art collection up close is at a museum. However, with a bit of luck and skill, you can get an amazing deal on authentic artwork from a luxury pawnbroker.

Wealthy art collectors love to purchase and display expensive art in their homes and offices. The bonus is that because these works are often so unique and coveted, they also come with plenty of paperwork to prove their authenticity. However, once the owner decides to renovate or downsize their collection, these fine art pieces often end up being pawned and resold for a fraction of the original price. If you’re looking to upgrade your personal art collection, start scouring the shelves at your local pawn shop.

Let me grab my purse

Luxury handbags with high-end features and sophisticated styling are hot ticket items at pawn shops. Designer handbags are memorable and iconic, and bargain-hunters and fashionistas alike are always looking to score incredible deals on them.

Affluent women across the globe often have way more luxury handbags and accessories than they need or want. Selling them to a pawn shop allows them an easy way to clean out their closet. And in some cases, will gladly sell an older handbag to a pawn shop to justify their desire to buy a new, sleek bag. Some wealthy clients even admit to getting bored easily with the assortment of designer bags in their possession. They can fund their lifestyles or shopping habits creatively by pawning their gently loved luxury handbags and accessories.

We shine like diamonds

As the old saying goes, diamonds are a girl’s best friend, and most wealthy individuals have a dazzling jewelry collection, including brand-name watches, diamond rings, necklaces, earrings and bracelets of all kinds. Quality pieces of jewelry are a must for high-profile events. And of course, the higher the quality, the higher the social status and prestige that’s associated with it.

However, much of this luxury designer jewelry is only worn for one special occasion. So, what happens to these beautiful, highly unique pieces of jewelry? Instead of letting them collect dust in a forgotten jewelry box, many wealthy clients opt to pawn or sell them. Are you budget-conscious but want to build a luxury jewelry collection that is a step above? Then visit a pawn shop in search of some pre-owned Swiss timepieces or luxury designer jewelry. You may be able to nab an iconic piece of jewelry for a fraction of its normal retail cost.

Add a luxury ride to your garage

Instead of the vehicles most of us probably drive, affluent individuals are more accustomed to zipping around town in flashy Ferraris, Porsches or Lamborghinis. While you’re highly unlikely to find a Ferrari for sale at your local used car lot, your local pawnbroker may have one for sale.

Every owner of a classic or luxury car knows how much of an investment their vehicle represents. While these precious assets may be kept under tight lock and key or in storage for long periods of time, they can often be the first to go when a wealthy client faces an unexpected financial loss or urgent bill. Selling a luxury or vintage ride to a pawn shop may seem unthinkable. However, it does provide the owner with an opportunity to liquidate a valuable asset quickly and without hassle.

Speaking of liquid assets…

When most people think of pawn shops, they often don’t expect to find fine wines or spirits on the shelves. However, upscale pawn shops often do a lot of business selling fine wines or spirits for wealthy clients. In fact, such specialty pawn shops have been known to deal in exclusive vintages and highly sought-after fine wine collections dating back as far as the Great Recession.

Prestigious pawn shops that serve the rich and famous may carry vast assortments of expensive wine, champagne and other spirits. A specially curated wine collection is worth big money. Despite its physical liquidity, it’s not an asset that can be sold quickly for cash. However, pawning a prestigious collector bottle or even a portion of a carefully maintained wine collection can secure an infusion of quick cash for personal needs or business purposes.