Do you sell bags to make room for new bags?
- Thread starter Galaxygrrl
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Hi, I would love to know your opinion on selling luxury handbags.
There are so many youtubers who's convince people that buying Luxury brand handbag actually save more money than contemporary brand, because luxury handbags has higher resale value, and the price goes up every year, so eventually you may not lose any money. while contemporary brand is hard to sell for what you paid for.
Is that true based on your experience?
It depends on the luxury brand. Chanel and Louis Vuitton keep their value pretty well. Some of it depends on how popular or rare the style is. Some luxury brands don't resell at prices anywhere near retail. I'm not sure about Hermes. Every other premium brand I've looked into doesn't seem to keep their value.
Also, while you might be able to sell a $4000 bag for $3500, you are still losing $500, plus fees, which is more than you will lose on selling Coach. So percentage wise, some premium bags don't get devalued as much, but dollar wise, it is still a lot. There are some Coach items that sell well in the resell market, sometimes even higher than retail.
totally make sense.
Good point! Dollar wise the more expensive the bag is, the loss is going to be more at resale, unless it can be sold higher than original price which isn't that easy to happen on an already very expensive bag.
Where can you sell coach without losing 50-75 of the price? They don't sell well in Europe
Probably in the US, but you lose more on shipping, plus US buyers won't buy from an overseas seller unless there is a significant savings or the item is rare and unavailable in the US. Maybe in Asia because Coach is more expensive there and it is desirable as well.
I've noticed that timing is important. When an item first comes out, it sells for a good price on ebay. Then the market gets flooded with lots of them and the prices drop. Then after awhile, there aren't so many available and the prices go back up. When I first starting buying Coach a lot, around 2010-2011, there was still a lot of love for the 2006 anniversary Legacy collection. Those were selling really well up until a few years ago. Now they aren't getting the prices they were. That is true with vintage Coach as well.
Like whateve said, it depends. I have sold some “premier” bags and SLGs — all at losses (I did get one profitable quote for a limited edition piece but I decided not to sell). I sold them to a well known consignment house (I guess they need to make a profit too). Perhaps if I had sold them on EB, I would have made more money (not necessarily a profit). I tried selling some on my own elsewhere but it was taking forever. Also, it depends on the products. It is well known that Chanel Reissues don’t hold their value (this is good for those looking to buy preloved). Right now, many of the LV canvas classics are almost impossible to find so they are selling at way above retail on various consignment sites. So it really depends. And other premier brands like Balenciaga and BV don’t hold their value very well either. Perhaps one can make a profit selling a Birkin (but I wouldn’t know, lol).
To LV and Chanel, I’d add Gucci. *Right now* Gucci is hot so you might not lose a lot on the resale. But this is market driven so what is hot this year might not be hot 2 years from now. I have a couple of balenciagas - they were hot a few years ago but now they lose 40%-50% of their value even in excellent condition. More if you sell consignment. (So yeah percentage wise, not as big of a drop as contemporary but dollar wise, much bigger loss.)
I think the youtubers are only buying the “hot” premier bags, not any premier bags. So that has to be kept in mind.
I think the youtubers are only buying the “hot” premier bags, not any premier bags. So that has to be kept in mind.
I read somewhere that even Hermes birkin are not such hot commodities anymore; if it's a desired leather and color combination, sure, but otherwise apparently one's lucky to recover his/her original cost on the bag. I guess the market's flooded with luxury goods nowadays?
I said "yes" but to be honest, the value just isn't there these days... I used to be able to buy a bag at the outlet or even "gently used" on a resale site, and then be able to sell it after using it briefly (I can be SUPER picky about my bags). I barely made a profit on most of my bags, but just was able to unload them at a reasonable price. Because the market is saturated and people aren't necessarily buying bags that aren't in high demand, I find I'm just going to be stuck with my bags forever. I also find online selling to be riskier with all the scammers out there :-/
This, combined with Coach's change to the 30 day return policy, has made me cut waaaay back on my purchasing. Just knowing that I will be stuck with a bag I possibly don't like, or just getting stuck with additional clutter around my house, makes me buy less (or make sure to return items I'm iffy on within the 30 day period). I am not a person who cuts tags off right away, since I tend to overthink every purchase... so with the more generous return policy in the past, I usually would keep an *iffy* bag and eventually use/gift/sell it. But now I just don't buy at all, or return about 50-75% of what I do buy within the return period because of the pressure to decide within that date.
Hmmm, maybe I should sail over to ban island, now that I've identified my problematic buying habits
This, combined with Coach's change to the 30 day return policy, has made me cut waaaay back on my purchasing. Just knowing that I will be stuck with a bag I possibly don't like, or just getting stuck with additional clutter around my house, makes me buy less (or make sure to return items I'm iffy on within the 30 day period). I am not a person who cuts tags off right away, since I tend to overthink every purchase... so with the more generous return policy in the past, I usually would keep an *iffy* bag and eventually use/gift/sell it. But now I just don't buy at all, or return about 50-75% of what I do buy within the return period because of the pressure to decide within that date.
Hmmm, maybe I should sail over to ban island, now that I've identified my problematic buying habits
I am the same way......with everything! Rarely do I ever cut / remove the tags from bags, shoes or clothing immediately. I make sure that I am going to use it before cutting the tags....as in I cut the tags the moment before I use it. I over think every purchase, from cars to appliances to electronics. (I usually do that before big purchases and not afterward though.)
I said "yes" but to be honest, the value just isn't there these days... I used to be able to buy a bag at the outlet or even "gently used" on a resale site, and then be able to sell it after using it briefly (I can be SUPER picky about my bags). I barely made a profit on most of my bags, but just was able to unload them at a reasonable price. Because the market is saturated and people aren't necessarily buying bags that aren't in high demand, I find I'm just going to be stuck with my bags forever. I also find online selling to be riskier with all the scammers out there :-/
This, combined with Coach's change to the 30 day return policy, has made me cut waaaay back on my purchasing. Just knowing that I will be stuck with a bag I possibly don't like, or just getting stuck with additional clutter around my house, makes me buy less (or make sure to return items I'm iffy on within the 30 day period). I am not a person who cuts tags off right away, since I tend to overthink every purchase... so with the more generous return policy in the past, I usually would keep an *iffy* bag and eventually use/gift/sell it. But now I just don't buy at all, or return about 50-75% of what I do buy within the return period because of the pressure to decide within that date.
Hmmm, maybe I should sail over to ban island, now that I've identified my problematic buying habits
I have a similar problem. I hate cutting the tags. It seems so final. I can't change my mind after that. I used to rely on the long return period to decide whether or not to keep. I've cut way back on buying.
Me too. I don't like Coach's new (well not so new know) return policy. Sometimes 30 days is not enough to decide.
I sell off bags to buy new bags too. My husband & I joke that I'm recycling the same money I started with. I feel guilty/overwhelmed with too many bags. I keep about 15 in my rotation (not including clutches). That's still probably too many but I've become more careful with my buying habits and I buy only what I love and am excited about. When the love fades or I'm eyeing a new love, a couple have to go.