Using a Birkin Bag as Collateral for a Short-Term Loan

Using a Birkin Bag as Collateral for a Short-Term Loan

The Birkin bag has become one of the most iconic and sought-after luxury handbags in the world since its introduction in the 1980s. A signature product of Paris-based Hermès, it is named after British actress Jane Birkin. The Birkin was born on a flight from Paris to London when the actress and young mother just happened to be seated next to a Hermès executive and took the opportunity to tell him of her difficulty of finding a bag that met her needs. As a result, Hermès introduced its first Birkin, a spacious rectangular bag with a burnished flap and saddle stitching.

The hard to purchase and often with waitlists Hermès Birkin handbags even used ones, generally appreciate in value after purchase owing to their matchless quality and style. It has been reported that these handbags take a master leather maker 48 hours to hand assemble, and purchasers of new Birkin bags only acquire one after clearing a lengthy waiting list of others seeking a Birkin.

Some gently used Birkin bags, such as the Porosus Birkin 35 crafted from crocodile leather can sell for $40,000 and up-to US$383,522 for Hermès matte white Niloticus Crocodile Himalaya Birkin 30 with white gold diamond-encrusted hardware auctioned by Christy’s Auction House in Hong Kong 2017. Other Hermes styles would also include Kelly, Evelyn, Garden Party, Lock It, Vespa, Constance, Herbag, Lindy, Double Sens Hermes bags, including the Birkin, are often cited as being part of the exclusive “holy trinity” of luxury handbag brands, along with Louis Vuitton and Chanel.

Birkin bags and other Hermès handbags are consistently among the most popular luxury assets used to obtain collateral loans. Collateral loans are a reliable, fast, and easy way to access cash with no credit check, credit history, or financial disclosures. For example, Birkin Bag and Hermès handbag owners, collectors, and retailers can obtain loans of up to 75% of the current resale value of their handbag or handbags from collateral lenders such as Borro in only a few days. “Many view Birkin as the most highly desired after handbag in the world, and for good reason. They are beautifully designed, impeccably crafted, and often in short supply due to their limited production,” said Borro’s chief underwriter, Richard Shults, GG (GIA). “All of these factors contribute to why Birkin bags hold or appreciate in value, making them an outstanding collateral source for Borro loans.”

Birkin’s other Hermès handbag owners, collectors, and retailers can obtain standard loans or line of credit loans from Borro, in amounts ranging from $2,500 to over $5,000,000. Borro empowers clients to capitalize on the true value of their Birkin other Hermès handbag or handbags without the wait, and, more importantly, without the need to sell. Borro’s in-house specialists have a combined 80+ years of experience with luxury assets. They are experts in this field with deep auction house relationships and a strong network of appraisers, traders, and dealers giving individuals peace of mind that they can trust Borro with their Birkin other Hermès handbags. Borro also accepts other luxury handbags as loan collateral, including Louis Vuitton, Dior, Yves Saint Laurent/YSL, Prada, Chanel, Gucci, Givenchy, Goyard, Céline, and more.

Borro is the leading national provider of collateral loans, having provided $450,000,000 in loans to over 15,000 investors, entrepreneurs, small business owners, and others. Borro unlocks the equity in a wide range of luxury assets that are high in value but low in liquidity and execute transactions from thousands to millions of dollars in as little as one business day.


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