Help me justify losing money on selling bags.

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SHHMOM

Member
Feb 13, 2013
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#1
Hi. I need help to ease my racing mind. This year I sold a lot of bags and bought some preowned bags. At this point I am at loss. However, I think I need to justify that I got to use those bags for a while and now get different bags. I now want to sell the preowned bags I got and get new from store bags. I am finding I am not loving the preowned as much as I thought. This will put me at a much greater loss, however I think it's the right thing for me. Can you help me justify all the lost money I caused my self with selling bags. ;( I can't seem to stop being annoyed at myself.
I just fell I really screwed up I am down a couple of thousand and if I sell the preowned to buy new I will be down even more. How can I justify this? Anyone else ever do the same thing?
 
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#2
You can't justify anything... Just accept it, learn from your expensive lessons, and don't make another purchasing or sales decision until you're clear on your next move. If that means not being rash and using the pre loved until you get your priorities straight, then that's what you have to do.

People make bigger mistakes and losses on bigger ticket items - vehicles, homes, businesses etc - don't beat yourself up over it life is too short to lose sleep over some bags. Start a productive habit instead - an automatic savings debit from your account weekly, or set up a goal - try a 30 day goal initially. By all means edit your life including accessories but do something forward instead of obsessing over looking backwards.
 
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#3
I second the previous post. I took like a $1000 loss on a bag and beat myself up for it but in the end, it's a material thing. Yes, it was dumb but life goes on. I suggest really finding out what type of bag you want and what kind of a collection you want before selling or purchasing. Despite being on this forum, I own only one handbag and it's the longchamp le pliage which I'm very happy with it, mainly because it does what I want it to, which is carry my things while being super light.
 
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#5
What is it about your preloved bags that you are not loving? I have bought and sold many bags over the years. Quite a few were sold at a loss, but I try not to get upset about it anymore. I have discovered I would rather save and pay full price for an LV and buy it in the boutique so I can inspect it thoroughly . I sold some really beautiful bags that I loved cheap because they were to heavy for me and were never getting worn.
 
#7
I think there is nothing wrong to sell at a price lower than how much you got the bags for. When you bought those bags, your intention was to use and enjoy them, with little thought on whether you will gain or break even or lose upon reselling. It's like paying for capital items, you pay for depreciation, so naturally, when you resell you do not necessarily get your purchase price (a jackpot if you find a buyer willing to buy at the original price). Don't be too hard on yourself!
 
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#8
Sorry for my random thoughts

I feel for you SHHMOM but I agree with the others, you must let go of the past, I suffer from similar thoughts. In '14, I could have saved around £1K (about $1.5K) by buying the same new bag in Euros rather than pounds, it stings although I love the bag, the only conciliation, it would have been a different colour but I can't seem to let it go either :smash:

Bags are such a ridiculous price now, the only way to justify the money is to use them for years and years because the re-sale market for bags is saturated

Until I came to tPF I gave my used bags away or occasionally sold them for 'dirt' at concession stores. Sometimes those bl**dy stores ruined my bags (and other things, I even had a mink jacket stolen to be told customers sell at their own risk) by squishing them on shelves and/or letting people open them the wrong way or worse.

There is no good way of re-selling any bags IMO, so I buy as though as though I am stuck with it for the rest of my life. I buy the bag/size/colour I really want (hence the above) and only indulge in discount sale if I had already wanted the same bag at full price but thought it priced too high.

I think there's some kind of tPF myth that bags are an investment. The only investment is one of style and hopefully organisation. When commissions and % are subtracted even from a bag that recoups its original cost plus money trans etc, the best results is still a deduction of 20-50%.

I'm also interested in why your pre-loved bags are not working out
 
#9
Echoing the previous posters. I, too, have bought new, bought pre-loved, sold both...almost always made a loss. Even when the It-bag phenomena was at it's height, I barely broke even when selling. These days I only ever buy preloved and never use credit to fund my bag habit. I also accept that I'd make a loss if I sold. So with that in mind I think very carefully before I make a new purchase and don't buy unless it's something I love. Ha, I'm babbling - basically wanted to say I feel your pain, but don't beat yourself up over it. My usual advice would be to stick to preloved rather than buy new - but I understand the whole excitement of buying from a store and being able to examine before committing to purchase.
 
#10
I guess the problem was when I first started buying, I thought I was buying forever. However, I got addicted and needed up with too many for me. Some that were the same bag but different colors. I felt the total amount spent was an amount I did not want to go over. So when I decided I really needed the comfy crossbag, I wanted the hermes Evelyne. I Had two thoughts decided that I would have have fewer better bags and I didn't want to spend new money on anymore bags, although I was willing and did add Alittle more. I sold four I didn't really need. I sold through consignment so you loose a portion, although really not large, it adds up. So while I was waiting i decided to by preloved instead of new. However, I wanted to get a bag that added up to the amount I originally paid. So I didn't get the Evelyne, I got a more expensive bag instead. However, I was very happy. I should have stopped there and would have been fine. Although, now I feel I shouldn't have gotten that bag because I have the same bag but in a different size but if I sell it now, I will loose even more money. Then I decided selling and buying was so great. That I wanted only "better bags" so I two more bags, however this is where I mess up. I needed spending way more then I sold and then I also felt all my bags where the same, just different sizes, so I resold the one I shouldn't have bought, and that's where I lost alittle more than 1000. So then I felt know I have to only buy preloved to makeup that amount. Another mistake. Then I made a very big mistake of buying a bag that really wasn't cheaper than retail but any real amount, and the bag had to be cleaned causing me more money. I should have just bought new. And there is just something weird about this one. That keeps making me feel weird. It came with the box and receipt, it looks perfect in pictures. There is just something slightly weired about its feel. And now that I have doubts, it makes feel that only certainly can come from the purchasing at the store. Also, now I have added more money from fixing up bags and my collection isn't even very functional for me. As I mom, I am missing some of those larger bags that fit everything and still no crossbody. However, I don't want to add anymore money.
I wanted to sell one of the bags that are the same to get a crossbody but then since I bought it for less, then it will seek for less, I would loose the commission on top and then not have enough to even by the crossbody and be down thousands. So after not sleeping all night. I decided for now I will keep my more expensive preloved bag so as not to loose so much but to sell the one I am not comfortable with and one more that was a financial mistake any way, that had I purchased from one of the great places that takes returns would not have happened. That was I can at least buy the one bag I need news then I am going to stop and really wait a while before I decided if I should sell one of the two I have that are the same but different sizes so I can get the crossbody.


It's not preloved that's the problem it's my fault for buying a preloved items I couldn't return. I find while I try inspecting in store I can't really inspect until I am home. If I could have returned the later ones I would have, I knew right away, they were not good choices.

So maybe the lesson isn't not by preloved but only but from the bigger preloved stores that take returns. I have to just accept it, I guess it's not really money lost, since i did. Get use the bags, it's just the overall amount sometimes makes me sick. I could have redone a kitchen for the amount but it was over time not all at once. Really it's not any more money then I give away in toys and clothes and dishes and stuff. I also hate clutter and try to get rid of things that I no longer need. So for all my long rants. I guess I am not as calm as I thought.
 
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#11
papertiger said:
I think there's some kind of tPF myth that bags are an investment. The only investment is one of style and hopefully organisation.
Click to expand...


This +1,000,000 👍

There's a massive difference between investing in your wardrobe and investing in financial instruments, like stocks and mutual funds
 
#12
I don't sell used bags--I donate them to charity.
In some viewpoints, I've "lost" more money than did you. :)
But, I enjoy using my bags & enjoy letting go @ right time--this feels more like a gain.

I've never looked @ handbags as an investment, just as handbags.
Better to own them than to be owned by them, imo.

Hope this helps.
 
#13
As some previous posters said - it's the way you have chosen to classify these transactions as investments.

If you do this your placing your love for bags in the same category as perhaps a "day trader" and there in lies the dichotomy.

So maybe you bite the bullet take your losses as you have labeled them, learn from your actions and most of all enjoy the beautiful bags you continue to acquire?

I too have sold several bags and some held their value and some did not( but hey I used them and did enjoy them for a brief time) . I was just so super pleased that I sold them and now have bags I truly enjoy. It just took sometime for me to settle into "my style" as it relates to high end bags.
Oh and try not to beat your self up inside - just learn and grow . I wish you all the best!☺️
 
#14
Make a list of what you have and which ones you reach for the most. Also write down exactly what things a bag should have and sizes you like. Then when you are looking for a new bag , check your must haves list and if it won't work don't buy it. This has been helping me a lot. I prefer medium size bags and they must be light weight. If it is heavy no matter how lovely I will not buy it anymore.
 
#15
I have several nice/expensive bags, thanks to tPF who introduced me to Hermes, that I don't wear but afraid to sell (you never know when you'll need that one specific bag. LOL!). I've realized buying bags is not an investment, so you have to love them and wear them...even if it's a bag you wear once a year.
If you think bags are a bad investment...try jewelry! I could write a book on that one!!!
 
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