Closet Clearing and Guilt

[faintlymacabre]

What would you consider an acceptable price iesay you bought a bag for 500 and you used it for 2 years. The bag is now 5 years old what would you pay for it, if you were buying it?

I'm not the one you posed the question to, but...

I've been trying to sell a Proenza Schouler PS1 large, in a nice Burgundy colour, from 2012. It is BRAND NEW (albeit with a small indentation in the leather - came to me that way) and nobody will even bite for 40% of what I paid for it, which was already less than retail. This style is still made today, so what gives? I'm not selling this bag for $200.

 

[cafecreme15]

I recently cleared out a lot of older Tory Burch and Michael Kors bags on Poshmark, as well as some other no-name contemporary designer bags that still cost a pretty penny. I was able to sell them ranging from $28-$90. I think you have to look at it this way - when you bought the bag, you never truly expected to recoup your investment in it; at this point, that makes it a sunk cost. If you are able to make a little money off it, then that is just gravy and found money.

If you have anyone you can gift the bags to and would appreciate them, I personally think that’s more valuable.

 

[daisychainz]

I'm not the one you posed the question to, but...

I've been trying to sell a Proenza Schouler PS1 large, in a nice Burgundy colour, from 2012. It is BRAND NEW (albeit with a small indentation in the leather - came to me that way) and nobody will even bite for 40% of what I paid for it, which was already less than retail. This style is still made today, so what gives? I'm not selling this bag for $200.

I just bought a like new PS1 medium from 2016 from Fashionphile for $515. PS is not Chanel or LV so it cannot command high prices for resale. Tbh I think $515 was overpriced and I expect if I sell it I might get $150-$200. It is about managing expectations in pricing and knowing that a bag is never going to be worth what we paid. I imagine that to sell the bag on their website for $515 the person who turned it in probably got paid $200 for it. That was what it was worth on the market, which has no bearing on what one pays.

 

[sdkitty]

What would you consider an acceptable price iesay you bought a bag for 500 and you used it for 2 years. The bag is now 5 years old what would you pay for it, if you were buying it?



I guess there may be time wasters...



That totally baffled me. Would you mind elaborating?

most of my bags were bought new.....I have one MJ collection bag that was original retail $1,000. If I can't get $100 for it, I'll just keep it. Even if it sits in the closet mostly

 

[Minty Tea]

Accept past fashion mistakes and move on. Life’s too short to sweat it!

100% agree.

I'm fast approaching 50 and know that my fashion style has changed multiple times. I was more free with my money when I was young and single and experimented with several fashion trends. Some were costly mistakes and I learned from them, sometimes after committing them 2-3 times. As long as I'm still financially responsible (do not accumulate debt for fashion wants or needless pleasures) than I'm OK with my mistakes. I love beautiful handbags but I'm not a collector. My handbags are used and well loved. Any bags that I do not love anymore or do not serve a needed function, I would sell or donate.

Handbags are not investments. Sure there are stories of people making a profit when reselling their bags but it isn't a rule. It's almost like hearing stories of people winning big at the casinos. You seldom hear about the people who lost money.

 

[ladysarah]

most of my bags were bought new.....I have one MJ collection bag that was original retail $1,000. If I can't get $100 for it, I'll just keep it. Even if it sits in the closet mostly

Well put like that, it sounds painful. What about cost per wear though - say how many times you got to use and enjoy the bag.?

 

[ladysarah]

100% agree.

I'm fast approaching 50 and know that my fashion style has changed multiple times. I was more free with my money when I was young and single and experimented with several fashion trends. Some were costly mistakes and I learned from them, sometimes after committing them 2-3 times. As long as I'm still financially responsible (do not accumulate debt for fashion wants or needless pleasures) than I'm OK with my mistakes. I love beautiful handbags but I'm not a collector. My handbags are used and well loved. Any bags that I do not love anymore or do not serve a needed function, I would sell or donate.

Handbags are not investments. Sure there are stories of people making a profit when reselling their bags but it isn't a rule. It's almost like hearing stories of people winning big at the casinos. You seldom hear about the people who lost money.

All very true when you put it like that. Also a bag we no longer want is not necessarily a fashion 'mistake' ... things move on, we change and maybe that item no longer serves our lifestyle or current aesthetic. Just because i bought something's it doesn't mean that I have to live with it for ever.

 

[sdkitty]

Well put like that, it sounds painful. What about cost per wear though - say how many times you got to use and enjoy the bag.?

I know some bags aren't that popular anymore but sometimes there is a threshold that I won't go below. I'd rather sit on it or give it to my sister. This particular bag is in excellent condition. I had two people who offered to buy it at $95 or $100. When I asked if they would pay PART of the shipping they backed off. To me that would seem to indicate they might just want to re-sell it. If you really want a bag will you kill the deal over $10?

 

[kbell]

kay I have to pose the question...why are the general you being taken advantage of or insulted by a "low ball" offer? You didn't design the bag or construct the bag, you just bought the bag - no one is insulting you personally if they don't want to pay big bucks for your used bag. The bag is just not in high demand.[/QUOTE

If someone robbed you would you feel better if they shove $5 in your pocket? People only wanting to pay about 10 % of what something is worth IS insulting. I would rather donate in that case.

[/QUOTE]

If the market says it’s worth 10% of what you paid (meaning no one is willing to pay you more for it) then that IS what it’s worth. It’s only worth what someone is willing to pay for it. It’s not insulting. You can’t take it personally.

It’s like that beanie baby craze years ago... friends would say “but this one is worth 700.00...” really? Not to me. I’ll give you 5 bucks

 

[Tartlet]

I'm not the one you posed the question to, but...

I've been trying to sell a Proenza Schouler PS1 large, in a nice Burgundy colour, from 2012. It is BRAND NEW (albeit with a small indentation in the leather - came to me that way) and nobody will even bite for 40% of what I paid for it, which was already less than retail. This style is still made today, so what gives? I'm not selling this bag for $200.

What is the overall demand for the label? Anything other than Chanel, Hermes and some select LV, falls on the lower end of the demand scale. Brand name aside, I think the clear distinction in this case is the age of the bag. Although you've described it as BRAND NEW, it is not. It is a 6-year old handbag. If the handbag were a child, it would be in the first grade Although you know its excellent condition, any potential buyer is going to be wary of the actual use and condition at this point in the bag's lifespan. They will be looking for a generous discount to account for the risk. If the style is still made today, I think you are facing the additional obstacle of potential buyers preferring to buy brand-new and all the benefits that come with that (ie. the packaging, the point of sale interaction, the potential to return and after sale care).

 

[Emily1830]

All very true when you put it like that. Also a bag we no longer want is not necessarily a fashion 'mistake' ... things move on, we change and maybe that item no longer serves our lifestyle or current aesthetic. Just because i bought something's it doesn't mean that I have to live with it for ever.

I'm trying to explain this to my husband lol. I mentioned I wanted a new work bag, and he was like, don't you already have one? [emoji849] He thinks a bag is a forever purchase when more and more I realize it is not. I'm more careful now for sure with what I buy, as I dread collecting more bags that sit in the dark parts of my closet.

 

[vhuynh2]

Money is gone as soon as you spend it. Honestly, if the item is just going to sit in my closet unused, its value is $0. If I sell it, it could be $50, $100, or $500 -- anything is better than $0.

I had a number of bags I no longer used sitting in my closet that I recently sold (it was my first time selling). Before I sold them, I looked at all of them as losses. Some of them were basically brand new. But, I put them on eBay and they all sold, so they weren't complete losses and I earned money back on things I was never going to use again. I honestly didn't care how much I got for them, but was pleasantly surprised at how well some items sold.

 

[DZK]

Over the past 5-7 years I accumulated a lot of bags and now I’m trying to clear stuff out. Obviously we get more attached to our stuff than their true value but I’d like to hear how people clear out bags that they spent a lot of money for. Do you give them away and just move on? Sell dirt cheap and cut your losses? What about bags that don’t sell? I feel guilty for poor choices since I’ve refined my style. For the record we are taking about Coach, Kate Spade, Marc by Marc Jacobs - not totally cheap bags but I have a $700 Coach bag that has been on consignment and can even sell for under $200 Canadian. Love to hear your perspectives.

Part of my guilt was the amount of time, money, and energy I put into the bags - though I enjoyed the process, very much But...when I was ready to let go, or knew I needed to, I didn't want to put too much energy into it -like, I was careful to consider how much energy I was willing to put into it without exhausting myself. During part of my "selling time" I had plenty of time to take photos, list on ebay, pack up and ship - so I tried eBay and sold quite a few that way.

The rest I have donated. I felt better when I donated to a cause that I wanted to support....but I felt finicky about those.

Like, I donated some to a church fundraiser - actually, I did that twice, and I was disappointed each time, because....well, I should have guessed??? I'm not a garage sale gal. But they sold my high quality bags for $1-3 each. That was very upsetting, as I could have just donated the cash to them. I wanted them to make good money off of my bag - I know it wouldn't be a lot, it would be a fraction of what I paid, but still - they wasted my donations, they basically threw them in the garbage.

So after that, I donated bags to a charity shop that makes money for the Humane Society, and then another time I donated some to one that makes money for various animal rescue groups. What I really liked was, not only were they causes I supported, but they did not throw my purses away like garbage. They asked a reasonable price - so then I felt like even the amount I purchased the bags for was like a donation I made to the cause, so that they could then sell the bags. Plus, when people are willing to pay more than a few dollars, I know they at least do value the bag, too.

Currently I have several bags at a consignment shop - and WOW, she is asking prices more than what I even paid for the bags (since I buy them all discounted), so I am hoping to at least get back what I paid. That would make me very happy

And I have 2 more piles of "guilt" left.. bags that I thought would sell on ebay and didn't, so they'll eventually go to the thrift store. Trying to decide between Goodwill, which is down the street, or going back to the animal rescue place, which is 45 minutes away. Low stress or high fulfillment - that's my question, but I've been too busy lately anyway.

I know if you search on line you might find some really nice donation drives. There's one local to me where they use donated designer handbags for an auction that raises money for breast cancer research, and another where they pack up the donated bags with toiletries and makeup to give to women at homeless shelters.

If I knew any women who liked bags like I do, I would also gift them. I have given and will give a couple to my goddaughters.....but actually, none of the women I know care about bags in the least, so.....

 

[catsinthebag]

I'm trying to explain this to my husband lol. I mentioned I wanted a new work bag, and he was like, don't you already have one? [emoji849] He thinks a bag is a forever purchase when more and more I realize it is not. I'm more careful now for sure with what I buy, as I dread collecting more bags that sit in the dark parts of my closet.

I had a similar conversation with my DH years ago when I wanted a new pair of earrings. He said, “but you already have a pair of earrings.” I had to point out to him that he didn’t wear the same tie every day, the same watch every day, etc. To his credit, he did get it!

 

[ccbaggirl89]

Part of my guilt was the amount of time, money, and energy I put into the bags - though I enjoyed the process, very much But...when I was ready to let go, or knew I needed to, I didn't want to put too much energy into it -like, I was careful to consider how much energy I was willing to put into it without exhausting myself. During part of my "selling time" I had plenty of time to take photos, list on ebay, pack up and ship - so I tried eBay and sold quite a few that way.

The rest I have donated. I felt better when I donated to a cause that I wanted to support....but I felt finicky about those.

Like, I donated some to a church fundraiser - actually, I did that twice, and I was disappointed each time, because....well, I should have guessed??? I'm not a garage sale gal. But they sold my high quality bags for $1-3 each. That was very upsetting, as I could have just donated the cash to them. I wanted them to make good money off of my bag - I know it wouldn't be a lot, it would be a fraction of what I paid, but still - they wasted my donations, they basically threw them in the garbage.

So after that, I donated bags to a charity shop that makes money for the Humane Society, and then another time I donated some to one that makes money for various animal rescue groups. What I really liked was, not only were they causes I supported, but they did not throw my purses away like garbage. They asked a reasonable price - so then I felt like even the amount I purchased the bags for was like a donation I made to the cause, so that they could then sell the bags. Plus, when people are willing to pay more than a few dollars, I know they at least do value the bag, too.

Currently I have several bags at a consignment shop - and WOW, she is asking prices more than what I even paid for the bags (since I buy them all discounted), so I am hoping to at least get back what I paid. That would make me very happy

And I have 2 more piles of "guilt" left.. bags that I thought would sell on ebay and didn't, so they'll eventually go to the thrift store. Trying to decide between Goodwill, which is down the street, or going back to the animal rescue place, which is 45 minutes away. Low stress or high fulfillment - that's my question, but I've been too busy lately anyway.

I know if you search on line you might find some really nice donation drives. There's one local to me where they use donated designer handbags for an auction that raises money for breast cancer research, and another where they pack up the donated bags with toiletries and makeup to give to women at homeless shelters.

If I knew any women who liked bags like I do, I would also gift them. I have given and will give a couple to my goddaughters.....but actually, none of the women I know care about bags in the least, so.....

I gave a few to a women's shelter/homeless shelter also, just gifted and they loved them. They were women I had interacted with before and they had "liked" my bags so I just gave them to them a few weeks later. That's definitely another avenue, and they are very appreciative to have something nice, especially designer clothes. I also read (on TPF, actually), that an older woman on here just outright gave the bag she was carrying one day to a young girl who gushed over it. Apparently the bag was making the young girl so happy the woman was like, just take it already, lol. It was an LV.