The US Customs and Border Patrol historically warns consumers every year as the holiday season approaches, to be on the lookout for counterfeit and pirated goods, a $1.3 billion dollar problem that has ties to illicit businesses and crime. Pawnshops, who regularly see luxury items like high-end watches, jewelry, and designer handbags, have developed systems for determining authenticity of the goods that they pawn, buy, and sell.
“Pawnshops see a little bit of everything,” says Bryan Collins, from Jeweler’s Cut Pawn in Cullman, Alabama, “so we have to use all of the training and tools available to us in order to avoid taking in fake goods.”
One of those tools is Entrupy, an on-demand authentication solution for high-value goods including pre-owned handbags from designers including Gucci, Louis Vuitton, Prada, Goyard, Chanel, and others.
“Over the years, we’ve become known for out extensive inventory of luxury jewelry, watches, and designer goods including handbags,” shares Ben Levinson, President of Dynasty Jewelry and Loan in Metro Atlanta, Georgia, “and our customers rely on us to verify the authenticity of all sorts of items.”
Both Levinson and Collins are among several pawnbrokers across the country who are hosting free authentication events on or near National Handbag Day which is officially recognized on October 10th each year.
Some of the pawnshops where free authentication events are being held include:
On Friday, October 8:
Capital Pawn in Salem, Portland, Beaverton, McMinnville, and Albany, Oregon
Fieldstone Jewelry and Pawn in Conyers, Georgia
National Pawn & Jewelry with 23 stores throughout North Carolina
On Saturday, October 9:
Mills Jewelers and Loan in Camarillo, California
Dynasty Jewelry and Loan in Norcross, Georgia
VA Premier Pawn in Chesapeake, Virginia
On Monday, October 11:
Jeweler’s Cut Jewelry and Pawn in Cullman, Alabama
Shoppers who are looking to buy, sell or pawn their own designer handbags or other luxury goods can use these three simple tips for finding a reliable pawnshop:
- Word Of Mouth and referrals: Just like you do with other businesses, when you’re looking for a pawnshop, it’s a good idea to ask your friends and family about their recommendations. You can also check out Google and other online reviews. You can also verify their membership in industry trade associations as well as professional organizations like The Pawnbroker Network.
- Ask about their authentication processes: A reputable pawnbroker is likely to be more than willing to walk you through the process that they use to verify the authenticity of luxury items. While their experience and expertise is important, they will also use technology and other tools. Ask about the credentials and training of their team, such as completing GIA training. Ask if they use technology and testing equipment. Finally, ask whether or not they stand behind the items that they sell.
- Trust your gut: In the end, people do business with people that they know, like, and trust. Pawnbrokers are men and women just like you who work in a fascinating industry that has been around for thousands of years. If the pawnshop and the staff feel professional, then proceed. If something feels off, walk away and find a pawnshop that’s a better fit for your needs.
“Pawnshops are an increasingly popular source for authentic pre-owned luxury goods,” said Erika Brooks, who facilitated the coordinated authentication events on behalf of The Pawnbroker Network, adding “these events are intended to help consumers better understand how pawnshops authenticate luxury goods and why it’s so important.”
About the Pawnbroker Network: The Pawnbroker Network is a community on a mission to improve the perception of the pawn industry through the power of storytelling. More information is available at www.pawnbrokernetwork.com.
