‘If you don’t know, now you know’: Pawn shop worker says you shouldn’t pawn your Louis Vuitton bag. Here’s why
A pawn shop worker posted a viral video showing how the changing value of Louis Vuitton bags makes pawning one off a poor decision.
Angie Olvera (@aolvera3) has reached over 733,000 views and 16,000 likes on her TikTok by the publication of this story.
To begin her video, Olvera says, "This is the reason why you buy Louis Vuitton in a pawn shop."
Olvera says she had a customer bring in a Louis Vuitton Félicie Pochette purse. She shows the purse on camera and says, "Pretty cute."
Next, Olvera pulls out a paper receipt and says the customer had originally paid $1,530 for the purse.
According to Olvera and the Louis Vuitton website, the purse is now listed at $1,760.
"So, if you don't know about Louis Vuitton, they go up in value, not down in value," Olvera says.
"That is why you should invest in a Louis Vuitton," she adds.
@aolvera3 I work in a pawnshop! If you dont know now you know ????#tictok #savingmoney #investing #foryou ♬ original sound - Angie Olvera
A confused viewer in the comments section asked Olvera, "Why should I buy a LV in a pawnshop? You never answered."
Another viewer responded, "I think she meant why they buy LV from customers."
"They can give her ex-800 for it. But sell it the same price she paid for to another person since it went up in price," another agrees.
A majority of the comments section wanted Olvera to tell them how much she ended up selling the bag for.
"The real question is how much are y'all selling it for?" one viewer asked. Olvera has yet to post a follow-up video or respond to any questions in the comments section.
Pawn America answered the question, "How do pawn shops calculate value?"
"Most pawn shops try to maintain a 38-50 percent profit margin, which means they want to earn that much compared to what they offer you. So, they'll assess your item's market value, then reduce it by their profit margin," the site reports.
The Daily Dot reached out to Olvera via the TikTok comment section and Louis Vuitton via email.
Sign up to receive the Daily Dot’s Internet Insider newsletter for urgent news from the frontline of online.
The post ‘If you don’t know, now you know’: Pawn shop worker says you shouldn’t pawn your Louis Vuitton bag. Here’s why appeared first on The Daily Dot.