Are you selling designer bags and losing money?

[Love Of My Life]

Thanks so much for your reply !
I sold plenty of lv, chanel slgs they all sold but all low ball offers .
Bags other than lv, chanel, Hermes sell for mere 1000-2000$ when retail price is over 4000$

It has been a journey so far !

Unfortunately, as I have heard from many including people that specifically work at high end
auction houses, that right now the market is more or less dictating prices. Condition is of utmost
importance as well as limited editons, specific colors & all the rest that goes along with it & at times
reasons that just don't make any sense or cents. The market is inundated & competitors are popping
up all over the place which doesn't make it any less challenging.
Besides the cost per wear which I can break down, there just comes a time when its time to say
goodbye & pass the pleasure on the either a family member or reseller. Cut your losses while you can
be ahead of the game, recoup what you can & perhaps fund something else . For most older bags, the
value continually goes down unless it is really a special bag.
As time goes on different sizes & styles come into fashion & unless one can find that client who really
understands quality & unique treatments & all the special things we saw in bags, time to move on, JMO

 

[880]

Perhaps we should try to look at this market as a glass half full. If it’s not a sellers market, this may be a time to benefit from fabulous bargains as a buyer. And, why should we have the expectation that we should recoup anywhere near current retail price Lol. We had years of enjoyment out of these things already. These are just a few ways I try to reduce any pangs that come with the decision to rehome a piece that is no longer perfect for me or my lifestyle. I even go a step further and mentally average out costs, so if I’ve gotten great deals ( during Covid, I got great B30s and K28s for 5-7K USD), that brings down my cost of retail items going forward. i think Op should be comforted by the fact that she is not alone in feeling this way lol. Whatever the mental gymnastics one uses to be happy, it’s all good so long as you only buy what you love and can comfortably afford

ETA: @ jblended and other alluded to other factors that mitigate ‘lost opportunity cost,’ like 1. The value of freeing up space in your closet; making a family member happy; or, even learning to edit and refine one’s own taste in order to make better buying decisions going forward

 

[Midge Maisel]

Maybe I'm nuts, but others seem to agree with me: if you've used an item, it kind of is what it is, on some level. Yes, there are brands that we all expect to have a better ROI, but regardless, I feel like getting just about anything back is more than I can expect for some of what I have!

 

[bagsamplified]

I have sold bags and SLGs at a loss, I think it depends on the market you're in, and it can be luck as well. I've made a small (tiny) profit on some, but I think of the loss as, I have more mental freedom and space, and whatever I did earn back, means less clutter, and I try to think of it as cash I wouldn't have had otherwise if I'd kept the item lifelong. I do get overwhelmed when i have too many items, so it does feel like a big relief when the wardrobe decompresses. Love this thread btw, many great points

 

[bagsamplified]

Perhaps we should try to look at this market as a glass half full. If it’s not a sellers market, this may be a time to benefit from fabulous bargains as a buyer. And, why should we have the expectation that we should recoup anywhere near current retail price Lol. We had years of enjoyment out of these things already. These are just a few ways I try to reduce any pangs that come with the decision to rehome a piece that is no longer perfect for me or my lifestyle. I even go a step further and mentally average out costs, so if I’ve gotten great deals ( during Covid, I got great B30s and K28s for 5-7K USD), that brings down my cost of retail items going forward. i think Op should be comforted by the fact that she is not alone in feeling this way lol. Whatever the mental gymnastics one uses to be happy, it’s all good so long as you only buy what you love and can comfortably afford

ETA: @ jblended and other alluded to other factors that mitigate ‘lost opportunity cost,’ like 1. The value of freeing up space in your closet; making a family member happy; or, even learning to edit and refine one’s own taste in order to make better buying decisions going forward

I totally do this mental averaging out, too a great bargain really does help!

 

[cecchetti]

I think I must be alone in that I don’t look for “deals” like @880 and probably most people, in fact probably the opposite ..the more I’ve paid for something, the more valuable to me it’s been..just my experience..
Unfortunately!
My crocodile bags have a much lower cost per wear despite having cost far far more than my leather bags, plus as I’ve carried exotics since my late teens and love them, I get a far higher satisfaction from carrying them..
If my Jimmy Choo ever wears out, it’ll Literally have been worn out, as I’d never sell it, I’ve used it for years already..
My leather bags I don’t treasure as much, and although I’m attached to ALL of my bags, it’ll be a leather bag I’ll gift to my niece for her 21st next June..
If I really can’t part with one I’ll buy her one, but I’d like to buy a new H, it makes sense to gift her one of mine, as they’re all kept in dust bags in great condition..

When my nephew meets someone I’ll gift her a designer bag, but atm he’s only interested in computers.
Oh btw I Also even out the cost,although it’s not really relevant as I use the crocodile ones far more often..

 

[A1aGypsy]

And, why should we have the expectation that we should recoup anywhere near current retail price Lol. We had years of enjoyment out of these things already.

DING DING DING. As always, agree with the wise 880. I think you have to look at this differently, you are getting something for something you have used. It’s not a total loss.

 

[jellyv]

I sympathize but our treasures exist in multiples, sometimes in vast quantities, and reselling them always means losing money. It just does, unless your item is both rare and in high demand. Not that many handbags meet those criteria. I really believe in and value the equity I've had in the pleasure of owning and using a beautiful item, no matter the dollars netted in resale.

Also I believe in moving on in life. If the thing isn't serving you, better gone even at a loss.

 

[babypanda]

I view my bags as an investment in my style and wardrobe. They are not a financial investment, not even the Chanels and Hermes.
Now the money has already been spent, and if you don't use the items anymore and know for sure that you're never going to want to wear that style again, then why not convert them into actual money back to your bank account. It doesn't matter what you originally paid. That money is all gone anyways, same as if you went to a restaurant or spent it on anything else. But at least you can recoup some of it.

 

[indiaink]

I sympathize but our treasures exist in multiples, sometimes in vast quantities, and reselling them always means losing money…

Love this - I can’t believe I never thought of it this way - of course there are others of the same bag as I want to sell.

 

[Peridot_Paradise]

I’ve sold a lot of LV bags myself these past few yrs and was lucky to recover about 85% of my money. I am however being very selective on what I buy in the future and also bc selling is so time consuming and stressful too

 

[Jktgal]

People often mistake price with value. They are completely different things.
Someone could gift me one of those Versace medusa bags to wear (gifted means price is zero to me) and I would refuse (value is zero to me) or promptly resell.

Unless you are one Diana Spencer, whose used undies probably sell at 100x their retail price, no one should expect their used item to be of higher value to other people except themselves.

 

[cecchetti]

Having followed the entirety of this very interesting thread, I will be Extra careful when purchasing my next bag-I have bags which I’d gift, but I’m hoping, like @880 to in the future, only buy forever bags ..

 

[Evia]

I view my bags as an investment in my style and wardrobe. They are not a financial investment, not even the Chanels and Hermes.
Now the money has already been spent, and if you don't use the items anymore and know for sure that you're never going to want to wear that style again, then why not convert them into actual money back to your bank account. It doesn't matter what you originally paid. That money is all gone anyways, same as if you went to a restaurant or spent it on anything else. But at least you can recoup some of it.

Exactly this, it’s a sunk cost. The money’s gone as soon as you walk out of the store with the bag. If you choose at some point to sell its only is worth is what the market at that time is willing to pay. And that depends on a number of fluctuating factors including whether it’s still in fashion and how soon you want your cash. Just look at how larger bags are less popular at the moment. And the resell the market is vast, we can all buy second hand bags from virtually anywhere in the world at the click of a button these days.
In the time I’ve been on tpf I’ve see too many people view their collections of stuff as money in the bank (because they paid a lot of money for it all) but we aren’t buying gold bars when we buy these things. Which is why I choose never go into debt to buy luxury items.

 

[BlueCherry]

Yes. My Chanel items broke even but everything else was sold at a loss. A vast loss for some bags.

But I decided to half my wardrobe by donating and selling clothes, bags and accessories. I have achieved that and have a tidy sum in the bank from selling.

I wear and use what I have now which feels great and nothing I bought was ever considered an investment. Making a few pounds for a used item is a bonus to me.