Due to the tough economy, many people have turned to buying used clothing and accessories at consignment shops and on the internet. Owners of designer accessories can make some extra cash by selling their used handbags and other luxury goods online. Many buyers of expensive handbags make their purchases with potential resale value in mind.
Buying used clothing and handbags allows people to purchase items that they would otherwise be unable to afford. Selling used items online allows the owners to trade up to newer styles. With the rising cost of luxury goods, it is a winning situation all around.
The current resale market for luxury goods is small. Only about 10 percent of luxury clothing, handbags, accessories, and home furnishings are resold, and only about one percent are sold online. However, more and more shoppers are considering resale value when purchasing luxury goods.
Many websites, such as Portero and TheRealReal, have staff who inspect the goods they sell to make sure they are authentic. Websites often sell goods much faster than traditional consignment shops and give sellers more of the resale value.
Some websites, including ThredUP and TheRealReal, have guides that can help sellers estimate the resale value of their goods. Sites decide which brands to carry based on their potential resale value.
Resale websites say they can help retailers because people are more likely to purchase expensive goods if they can resell them later and get a good price. Some sites are also creating partnerships with traditional luxury stores.
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