Question about selling a rare bag

Jemappelleelisa

Jemappelleelisa

Member
Dec 31, 2011
71
0
#1
Hey there :smile:

It has been a while since I have posted anything, but I am in need of some guidance and would appreciate some help.

As of late, I have been selling some of my old bags via Craigslist with great success. However, there is one bag I would like to sell but it is quite rare and commands a high price tag.

My question/issue revolves around one's ability to sell rare LVs on a site such as Craigslist. Has anyone had any success? I would really like to sell the bag, but refuse to use anything like ebay/paypal due to the proliferation of scams.

In any event... has anyone been able to sell a rare LV (worth more than $15,000) via Craigslist and, if so, how did you handle the transaction?

Thank you in advance for any help :smile:
 
#2
Jemappelleelisa said:
Hey there :smile:

It has been a while since I have posted anything, but I am in need of some guidance and would appreciate some help.

As of late, I have been selling some of my old bags via Craigslist with great success. However, there is one bag I would like to sell but it is quite rare and commands a high price tag.

My question/issue revolves around one's ability to sell rare LVs on a site such as Craigslist. Has anyone had any success? I would really like to sell the bag, but refuse to use anything like ebay/paypal due to the proliferation of scams.

In any event... has anyone been able to sell a rare LV (worth more than $15,000) via Craigslist and, if so, how did you handle the transaction?

Thank you in advance for any help :smile:
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I would not sell an item over a few hundred dollars on Craigs List, personally. I recently listed an LV and someone wanted to meet me and have me bring any others I had to sell with me. No way. I wouldn't, I would contact a consigner and get some quotes. Fashionphile, Yoogis etc.
 
#3
luv2run41 said:
I would not sell an item over a few hundred dollars on Craigs List, personally. I recently listed an LV and someone wanted to meet me and have me bring any others I had to sell with me. No way. I wouldn't, I would contact a consigner and get some quotes. Fashionphile, Yoogis etc.
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I agree! Don't put yourself in that position. You will attract the wrong people. You may not get the amount of $ that you would by selling it on your own but for something that expensive consigning is the way to go. In the long run it will be safer and less of a headache.
 
#4
I have zero experience selling bags so feel free to disregard this comment… I just want to say that there has to be another way, OP has had success selling bags and based on her location I would say she might find legitimate buyers on her own. Why does she have to share a big percentage of her money with a consignment store? is this really the only way?

Maybe there’s a way to draft a receipt or purchase contract and have the buyer pay by check at their bank or with a cashiers check, exchange photocopies of your ID’s, have it notarized to be safe, wouldn’t this work? I mean people sell cars on their own all the time, why can’t she sell a pricey bag? I wouldn’t want to give several thousands to a consigner for doing something I could do…

ok I be quiet now, I hope the experts can help you, good luck!
 
#6
I buy off of Craigslist a lot, but I would never buy anything over a couple grand (except a car maybe).

I also sell on Craigslist and won't go anywhere without my husband.

I would meet at a jewelry store or somewhere with security. I'd be nervous to even meet at the mall.

I don't think, though, that the kind of people who will pay $15,000 for a bag will be looking at Craigslist. I just look for stuff that's grossly underpriced.

I also wouldn't want to meet someone out in public with something that they know is worth that much. Craigslist has a lot of great users, but it's also the source of a lot of dangerous situations. A guy not too far from me got mugged selling a $600 iPhone on CL.

I would def consider Yoogis. Someone purchasing a bag that expensive is going to want a guarantee that it's authentic.
 
#7
Hello all :smile: Thank you for the replies thus far.

In general, I tend to agree with Sayakayumi. The most expensive bag I have sold up until this point on Craigslist was for $3,500. I only accept cash and meet only inside of my bank (to verify the cash is real before handing over the bag).

I do fear that given the price, I just won't find the buyers I am looking for. I really would like to avoid giving away 30% to a company for a bag that will sell itself. I guess I am just in a kind of pickle over the whole thing.
 
#8
sayakayumi said:
I have zero experience selling bags so feel free to disregard this comment… I just want to say that there has to be another way, OP has had success selling bags and based on her location I would say she might find legitimate buyers on her own. Why does she have to share a big percentage of her money with a consignment store? is this really the only way?

Maybe there’s a way to draft a receipt or purchase contract and have the buyer pay by check at their bank or with a cashiers check, exchange photocopies of your ID’s, have it notarized to be safe, wouldn’t this work? I mean people sell cars on their own all the time, why can’t she sell a pricey bag? I wouldn’t want to give several thousands to a consigner for doing something I could do…

ok I be quiet now, I hope the experts can help you, good luck!
Click to expand...

LOL! The problem is that when there is something rare/expensive that can attract attention unlike selling a car. It has the potential to make people ask "what else does she have?'...if you know what I mean. I would hate to lose $ but again, it's too risky these days IMO.
 
#9
Now this is an interesting post!!!!!

I can completely understand why you want to avoid consigning or ebay. I would not do ebay on this simply because of how easy it could be to scam - accept and pay for a bag but then claim it is fake. Ebay is so buyer protective. I got into a huge ordeal over a $40 pandora bracelet in that the woman accused me of selling a fake because she did not know how to open the clasp. She returned the real bracelet but I was totally expecting her not to.

But I also feel like there is a lot of risk associated with finding someone, if they existed, through Craigslist. Meeting at the bank is a good idea. Assuming you then deposit the $15,000 into your account, you will fill out the IRS papers as the transaction is over $10,000. Obviously, it is a legitimate transfer, but an additional step.

If you are really done with the bag, maybe a consignment shop will work with you and lower their take. It seems like the safest route to take.
 
#10
Jemappelleelisa said:
Hello all :smile: Thank you for the replies thus far.

In general, I tend to agree with Sayakayumi. The most expensive bag I have sold up until this point on Craigslist was for $3,500. I only accept cash and meet only inside of my bank (to verify the cash is real before handing over the bag).

I do fear that given the price, I just won't find the buyers I am looking for. I really would like to avoid giving away 30% to a company for a bag that will sell itself. I guess I am just in a kind of pickle over the whole thing.
Click to expand...

I really understand how you feel...just be careful. There are some"professional" thieves out there! I would just worry about meeting the wrong person and being followed or something. Again we are not talking about a Speedy and this is going to draw attention.
 
#12
I would explore very high end consignment/resellers for an item as rare as you
say it is.

You may have to negotiate a percentage if they consign it. If it is bought outright
than it is entirely different.
 
#13
lolajack said:
I would contact several consignment shops for quotes, it may not be that bad considering the calibre. I would think the highest fee would be in the 10% neighborhood.
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I don't know of any consignment business that would charge as little as 10%! The upscale consignment franchise I frequent just reduced their fee from 60/40 to 50/50!!

I find that with CL, for items that are upwards of $400, you'll attract the scammers who want to send their courier to pick it up. They'll overpay with a check (presumably by mistake) and want you to send the overpayment back with the courier. The check will be bad/fake and you'll be out the money and the expensive item.

As long as you're aware of the classic scam tactics to avoid, meet in a safe and secure place -- perhaps the police station, I might consider it. Personally, I think I'd rather go with consigment, making sure they have insurance to protect you in the event of loss or theft.
 
#14
lolajack said:
I would contact several consignment shops for quotes, it may not be that bad considering the calibre. I would think the highest fee would be in the 10% neighborhood.
Click to expand...

hotshot said:
I would explore very high end consignment/resellers for an item as rare as you say it is. You may have to negotiate a percentage if they consign it. If it is bought outright than it is entirely different.
Click to expand...

BeenBurned said:
I don't know of any consignment business that would charge as little as 10%! The upscale consignment franchise I frequent just reduced their fee from 60/40 to 50/50!!
Click to expand...

I agree that on an item that rare, you may want to consider contacting reputable high end online consignment services, as my guess is they would negotiate a pretty low fee for you. While BB's quote of 60/40 or even 50/50 might be the norm for brick and mortar stores (this is commensurate with stores in my area--Boston), online stores have much lower overhead. For example, Fashionphile's policy is a 70/30 split, and they adjust to a 15/85 split for items over $3,000.

For 10-15% I'd just consign and not have any of the worry or hassle of selling yourself.
 
#15
clu13 said:
Assuming you then deposit the $15,000 into your account, you will fill out the IRS papers as the transaction is over $10,000. Obviously, it is a legitimate transfer, but an additional step. .
Click to expand...

This is not the case. The bank records such deposits and reports them to IRS, not the customer.
 
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