While loan sharks can resurrect images of old smartphones and fake watches, a luxury department store chain has made an unexpected hit with the super-rich.
Yesterday, pop star Janet Jackson was spotted leaving the Posh Pawn store, part of Chelsea’s Prestige Pawnbrokers chain, and allegedly spotted Hermes’ purse, which could cost £29,000.
While it may seem odd for a woman with an estimated wealth of £150 million to spy on a pawn shop, it’s a well-known secret that among the fashion-conscious it is far easier to find a hard-to-find second-hand Birkin bag than to buy one. Hermes.
The retail chain was founded in 2009 by James Constantinou in the expensive Surrey town of Weybridge, after he saw an opportunity to take advantage of cash-strapped wealthy people during the recession.
From Cartier to Chanel to Rolex, stylish pawnshops sell a range of luxury items that have become popular with celebrities who can access rare pieces and boost their eco-identity by buying “pre-loved items.”
“Celebrities are very fashionable now when it comes to sustainability, and this is reflected in their luxury goods purchases,” 55-year-old Constantinou told FEMAIL.
The £150m pop star Janet Jackson was spotted leaving the Posh Pawn store, part of Chelsea’s Prestige Pawnbrokers chain, where it was rumored she saw Hermes’ purse, which could cost £29,000.
Items for sale include Louis Vuitton bags, suitcases, and other vintage or custom pieces not found in a department store or high-end designer boutique.
Founded in 2009 by James Constantinou, Prestige Pawnbrokers is a luxury pawnshop offering premium second-hand items. In the photo, the exterior of the Chelsea-based store
Part of Channel 4’s Posh Pawn line, the store sells a range of high-end vintage brands and bespoke pieces, including Cartier rings and earrings, which can cost up to £79,950 each.
Shoppers can purchase a set of Tiffany and Co Soleste earrings for £9,950, Cartier diamond and emerald earrings for £84,950 and a Rolex for £39,950 at their online store.
With a limited supply and long waiting lists to purchase the hard-to-find Birkin bag at a Hermes store, Prestige Pawnbrokers is also offering shoppers the chance to snag rare Hermes pieces.
From Cartier to Rolex, stylish pawnshops sell a range of luxury items made popular by the eco-friendly fashion set.
With limited supplies and extensive waiting lists to purchase the hard-to-find Birkin bag, Prestige Pawnbrokers also offers shoppers the chance to snag rare Hermes pieces.
Claudia Valentin, the luxury handbag specialist at the store that became famous on the TV show Posh Pawn, previously told FEMAIL: “It’s so much easier to buy a used Birkin. I used the bags that have never been used and are in the box with the dust caps.
“Fashions change, things happen last season. There is a new color. Fashion victims with status-symbol bags want to update themselves as soon as a new one comes out,” she explains.
Their online store is offering two of the coveted bags, the Kelly for £17,995 in purple and the Crocodile Bag in navy blue for £34,950.
Constantinou said fashion-conscious shoppers tend to head to their stores instead of Harrods or Harvey Nichols to avoid long shopping waiting lists that can take two to three years for Hermes bags.
James Constantinou, 55, founded Prestige Pawnbrokers in the expensive Surrey town of Weybridge in 2009 after seeing an opportunity to take advantage of cash-strapped wealthy people during the recession.
“The Paris office will call all the stores and let them know how many they can sell that week or month,” Claudia said.
‘If you can sell eight in that month, you get to choose who to sell them to.
“If you’re a ‘one’, you can have one. Or if you have acquaintances or friends who work in the store, you may be in luck. They can do you a favor, but that’s up to them.”
While even celebrities struggle to get their elusive arm candy, it’s no wonder they head to a store like Posh Pawn instead.
“Consumers are unable to buy vintage and luxury items that are too small or in some cases have unique production numbers,” James said.
“Many of the products are handmade by artisans and cannot be produced in large quantities, resulting in long waiting lists for products.
“We buy some exotic branded items for individuals and keep them in stock in our stores”.
He says wealthy customers have the money to buy a brand new item, but they can’t find it anywhere else but in pawn shops.
“This is a normal occurrence due to small production lines and high demand, causing rapid product run-outs or long waiting lists, causing people to come to us to buy a much-loved product faster,” he said.
Part of Channel 4’s Posh Pawn series, the store sells a variety of high-end vintage brands and bespoke pieces, including a selection of designer bags.
James says his stores across the state receive weekly visits from a variety of celebrities who take advantage of in-person passers-by or personal shoppers to find rare and sought-after luxury brand items.
The businessman says he included a famous American socialite who bought an old 1960s Hermes bag after he couldn’t find the hard-to-find item anywhere else.
He explained: “An example of a product we purchased for a very well-known customer was an old Hermes mini Kelly solid silver bag dating back to the early 1990s and one of only ten ever produced.
“This Hermes has only been on the market a few times and is probably the most sought after item on the market right now. Prices will only increase over time.
The client is located in America and is part of a dynasty in terms of family fame, would have been very pleased with the piece.
“Despite being bought for £70,000 about four years ago, the product could be worth twice as much today if it were to hit the market.”
Source: Daily Mail
