In Hong Kong, Designer Bags Are Used As Loan Collateral
Aug 15, 2013 13:18
For some bag ladies, spending close to six figures on a bag is considered a "good investment." And now, women in Hong Kong are actually using their designer bags as loan collateral.
One company called "Yes Lady" will even provide a loan based on 80% of the bag's value. Naturally, these only apply for brands like Gucci, Chanel, Hermès and Louis Vuitton. These purse-backed loans usually start at about US$200, although they have lent out about US$20,600 in exchange for a Hermès Birkin bag. The also have their own assessors to check the authenticity of these purses.
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