Yes Lady Finance Co

Yes! Now high end luxury bags are assets! At least in Hong Kong where the Yes Lady Finance Co, accepts them as collateral for loans.

This four-year-old company accepts purses on the spot, bringing in assessors from affiliate Milan Station Holdings Ltd.,a chain for luxury secondhand purses, to check the bags’ condition and authenticity.

Yes Lady provides a loan within half an hour at 80% of the bag’s value—as long as it is from Gucci, Chanel, Hermès or Louis Vuitton. Occasionally, a Prada purse will do the trick. Secondhand classic purses and special-edition handbags often retain much of their retail prices.

A customer gets her bag back by repaying the loan at 4% monthly interest within four months. Yes Lady says almost all its clients quickly pay off their loans and reclaim their bags. Read more of this post