Pricing Help for Pre-Owned LV Bag

[SoCalGal2016]

Hi Everyone,
What is a fair discount for a pre-owned LV handbag that is still available in the store and on-line?
There is a pre-owned LV Rivoli PM on Poshmark where the seller is asking $1400, but the bag is still available new for $1680. Is $280 a fair discount for the pre-owned bag? I offered her $1000 and she declined. Since it is a final sale and there's no way to know how much she used the bag, I think her price is too high, but I'm really not sure. The bag's date code is MB0169.
Any advice would be so helpful! Thank you

 

[Shoppinmel]

I'd be super annoyed if someone offered me $1000 for a bag I had listed for $1400. The bag may retail for $1680, but you have to think about tax too. Tax here in LA is almost 10%! If the seller doesn't have enough pictures posted, ask for more, so you know what you're buying.

I suggest doing some research on what similar condition used Rivoli's go for.

 

[Tayyyraee]

By looking at the date code it seems to have been made in February, making the bag only a few months old. I think that is a fair price for an almost new bag. I agree that 1000 is too low of an offer for something so new.

 

[karman]

I think $1000 is a low ball offer. Depending on the condition, I’d say a 20-30% discount for a nearly new bag is reasonable (factoring tax)

 

[SoCalGal2016]

I'd be super annoyed if someone offered me $1000 for a bag I had listed for $1400. The bag may retail for $1680, but you have to think about tax too. Tax here in LA is almost 10%! If the seller doesn't have enough pictures posted, ask for more, so you know what you're buying.

I suggest doing some research on what similar condition used Rivoli's go for.

The price with tax is $1839.60 for new and the price with tax is $1543.50 pre-owned (Poshmark added tax) so the difference is still under $300, There are alot of pictures posted but is this discount worth buying pre-owned vs. new?

 

[SoCalGal2016]

By looking at the date code it seems to have been made in February, making the bag only a few months old. I think that is a fair price for an almost new bag. I agree that 1000 is too low of an offer for something so new.

I agree it was a low ball offer but I really didn't know what was a fair price and the condition of the bag and the reliability of a Poshmark seller...I've seen some shady seller on there

 

[karman]

The price with tax is $1839.60 for new and the price with tax is $1543.50 pre-owned (Poshmark added tax) so the difference is still under $300, There are alot of pictures posted but is this discount worth buying pre-owned vs. new?

Only you’ll know the answer. Some people would think a brand new bag is never worth it. Others would think it is. Without seeing the bag it’s hard to say.

 

[SoCalGal2016]

I think $1000 is a low ball offer. Depending on the condition, I’d say a 20-30% discount for a nearly new bag is reasonable (factoring tax)

So a 30% discount on a $1680 bag is $1176 so should I offer $1200?

 

[karman]

So a 30% discount on a $1680 bag is $1176 so should I offer $1200?

Including tax on the bag.

 

[SoCalGal2016]

Including tax on the bag.

Poshmark automatically adds tax to your offer. So if I offered $1200,I would be charged $1323.

 

[karman]

Poshmark automatically adds tax to your offer. So if I offered $1200,I would be charged $1323.

No, I mean 20-30% off the original price with tax.

 

[Melfontana]

You’re not going to really save that much money. If it’s still available which it is I would buy new.

 

[SoCalGal2016]

No, I mean 20-30% off the original price with tax.

Gotcha... so if the total new price is $1839.60 (including tax), a fair offer would be $1287 (before tax). I would be paying about $1400 - a $400 discount from the new price (including tax).

 

[SoCalGal2016]

You’re not going to really save that much money. If it’s still available which it is I would buy new.

I was thinking the same - if I don't get a great deal ($1000) on the pre-owned, why buy a handbag that could have smoke smell or she ships to me and it gets damaged or any issues. What should the discount be to take the risk?

 

[nicole0612]

On poshmark they will check that the bag is as described, so if you asked if there are any signs of wear or smells and she said no, then you will be refunded if there are any issues. So that should not be a concern. However, it sounds like unless is a really incredible deal you would prefer just to pay $400 extra or so and buy it new, so you should probably do that. You have to realized that the seller does not benefit from the tax you have to pay on the purchase on poshmark and also loses 20% in commission, so she likely has a line that she can’t go below. Why don’t you just send her a private message asking what her best price is (put her bag in a “bundle” and then you can send a private message in the bundle comments) and if the same price doesn’t work for both of you then just buy it new.