Selling Bags at a Loss

[PineappleMinnie]

With bags my problem is buying WOCs that are too small to fit a long wallet and bulky keys. I have a Gucci Tian, a Fendi Selleria, a Miu Miu and some contemporary brands. After >10 years I should know that I never use WOCs no matter how much I like the design. I also have a problem with silk scarves. I have bought dozens because they are beautiful and I might want to wear one ... even though I can't style them at all and never do I am learning to use my entertainment money more wisely too.

LOL. I don't think there is a WOC that *actually* fits a legit long wallet. Many WOCs have built-in slots that are meant for your cards. I used to have a problem with scarves too! Not silk ones, those aren't very practical, in my opinion. I used to buy true winter scarves - "wow, this is so soft and cozy!"

 

[PineappleMinnie]

Nothing is really selling at the moment....either on eBay or at the resale sites.
I know I've sent in pictures of bags I would like to sell to many of the resale sites and have gotten ridiculous low quotes on them.

I would think your black Chanel would sell quickly, guess it's not the case.

Then, would you say this is a buyer's market now? Because so few people are willing to spend the money, the buyer is more likely to negotiate a good price with the seller.

Yes, I got a low quote from a consignment store too, less than $100. But, then again, if I keep it at home - I get $0.

 

[PineappleMinnie]

I read the title of your thread and just thought ... "Yes".

I, too, am reducing the size of my collection... and I came to the realization that the bag that started my collection (of this particular fashion house) is the one I've always been happiest with; any other purchases have been a waste. I *know* my bag, and I feel like an idiot for not sticking with what I know.

My losses have been many hundreds of dollars, but I am, weirdly, happy that I've gotten anything, so one feeling sort of cancels out the other.

Off to the therapist I go...

Stick to what works for you! I tell myself that too. Also, I stick to the colours I know would work for me. Going by these two points has been saving my wallet.

I know what you mean by one feeling cancels out the other. I get that sometimes too. I don't think I need to see the therapist, LOL, I always pay my bills in full . Just getting caught in the feeling of guilt that few hundred dollars of loss could have gone to groceries, bills etc.

 

[EmilyM111]

Stick to what works for you! I tell myself that too. Also, I stick to the colours I know would work for me. Going by these two points has been saving my wallet.

I know what you mean by one feeling cancels out the other. I get that sometimes too. I don't think I need to see the therapist, LOL, I always pay my bills in full . Just getting caught in the feeling of guilt that few hundred dollars of loss could have gone to groceries, bills etc.

Well I think I could have had a solid downpayment for another property from all the bags I've sold. It could have gone worse for you then ...Though I get what you mean, especially those days. The lesson for me was to move to Hermes (not that you don't lose money but less and bags themselves are classics) and avoid fooling myself with 'oh I will never have Hermes so let's buy x y z as they look similar'. Still guilty of impulse purchases but at least the ones I like, not a cheaper replacement for something I want.

 

[RT1]

Then, would you say this is a buyer's market now? Because so few people are willing to spend the money, the buyer is more likely to negotiate a good price with the seller.

Yes, I got a low quote from a consignment store too, less than $100. But, then again, if I keep it at home - I get $0.

No, it's not really a Buyer's market either.
I really don't know what to call it.
It's only a good deal if the buyer and seller negotiate the price and both are happy with it.
An item is worth only what someone is willing to pay for it.

I can definitely see your point and agree with you fully.

I know things are definitely not moving on eBay and the offers I have received for the bags I have had listed, at what I considered a "reasonable" price, were definitely lowball offers.

 

[PineappleMinnie]

avoid fooling myself with 'oh I will never have Hermes so let's buy x y z as they look similar'. Still guilty of impulse purchases but at least the ones I like, not a cheaper replacement for something I want.

Yes, that never worked! I bought something thinking that it'll replace something else that I truly wanted. Speaking of H, I have been looking for a Lindy 26 and I saw this blue one in the preloved market. Tempted, but then I decided against it. I don't wear blue handbags!

 

[Joule]

I think it's a matter of perspective.

My friend likes to go to the casino with a few hundred dollars. She comes home when it's all gone and is completely happy. Her perception is that a few hundred dollars was the cost of that evenings entertainment - like going to a concert. Personally gambling gives me anxiety but I love her perspective.

I don't see my bags as investments. Their depreciation is the cost of my entertainment. Sure some bags are not used much and sold, but why insist that the privilege of owning and experimenting with a style should be free? If doing so makes you feel guilty, you have not only paid in cash but also in happiness. Now that really is too expensive!

ETA Reflecting on purchases is good. No point paying a lot of money repeatedly for entertainment you don't like (which I may have done in the past)

Hear, hear!

 

[lovieluvslux]

Great thread. Losing $800 would be a good day for me. I have lost a bit more when I sold two seasonal Chanel ITMT and Easy Tote. I did not use the Easy tote at all. I ordered on-line, didn't like the color and let it sit. I thought it would fetch a better price during March as it was a shamrock green color... No, It did not! ITMT I wore a few times and got some use out of it.

Yes, I beat myself up about how I could have saved that money and not purchased those bags after all. I have lost less money when I've purchased pre-loved bags and sold them.

I am going through my closet this week to clean out SLG and designer shoes as I don't see myself walking around in 4+ inch heels and CL's any time soon. It will be interesting what I am offered.

 

[Jktgal]

Yes, that’s exactly my thought! Yes, the two bags didn’t sell for much, but if I just leave them at home - I am getting $0.

Actually, bags unused is costing you in foregone earning$. Merchandise sitting in the closet is like a cab waiting with the meter running...

 

[Amazona]

If I'm selling higher end brands I try to break even. If I've used the bag alot, I'm ready to take a bit of a loss. When selling contemporary and non designer I don't really think about what I lose - if I don't use it, I don't need it.

 

[PineappleMinnie]

Great thread. Losing $800 would be a good day for me. I have lost a bit more when I sold two seasonal Chanel ITMT and Easy Tote. I did not use the Easy tote at all. I ordered on-line, didn't like the color and let it sit. I thought it would fetch a better price during March as it was a shamrock green color... No, It did not! ITMT I wore a few times and got some use out of it.

Yes, I beat myself up about how I could have saved that money and not purchased those bags after all. I have lost less money when I've purchased pre-loved bags and sold them.

I am going through my closet this week to clean out SLG and designer shoes as I don't see myself walking around in 4+ inch heels and CL's any time soon. It will be interesting what I am offered.

Where did you sell your Chanel bags too? Some people post on Facebook or instagram. Are you taking your stuff to the consignment store?

Shoes don’t hold much value once they are worn. If they are only gently worn, I donate them or give away to others.

 

[lovieluvslux]

Fashionphile. I wasn't aware of FB or Instagram at that time. FP is/was very safe as I could drive to the location, get an inspection and buy out option.

That's good to know about shoes. I've taken some losses on them, but able to recoop some money.

Where did you sell your Chanel bags too? Some people post on Facebook or instagram. Are you taking your stuff to the consignment store?

Shoes don’t hold much value once they are worn. If they are only gently worn, I donate them or give away to others.

 

[lulilu]

I agree with those who chalk up "losses" as both the entertainment value (searching for and finding a particular bag) and the cost of having it in my wardrobe for x years. Even if it does sting a bit.

 

[BigPurseSue]

I've sold only one bag. It was a vintage Coach I bought on ebay. It turned out to be more of a small briefcase than an everyday bag and totally inappropriate for me. It sat in my office for years, making me feel very guilty about having wasted money. I finally sold it for about $65 less than I paid taking into account ebay and paypal fees. Not a bad loss, but still one that reminded me of my foolishness. I was relieved to be rid of it. It made me realize I need to be more careful to buy only bags I really love and know I can use for years.

The other day I saw a Mulberry Bayswater with not a lot of wear go for only about $300 on ebay. That had to have hurt. Designer bags really are not selling for much at the moment.

 

[PineappleMinnie]

I've sold only one bag. It was a vintage Coach I bought on ebay. It turned out to be more of a small briefcase than an everyday bag and totally inappropriate for me. It sat in my office for years, making me feel very guilty about having wasted money. I finally sold it for about $65 less than I paid taking into account ebay and paypal fees. Not a bad loss, but still one that reminded me of my foolishness. I was relieved to be rid of it. It made me realize I need to be more careful to buy only bags I really love and know I can use for years.

The other day I saw a Mulberry Bayswater with not a lot of wear go for only about $300 on ebay. That had to have hurt. Designer bags really are not selling for much at the moment.

Sometimes, you only find out about the bag’s cons after using it for a while.

I have a Mulberry Bayswater. I still love it and it has sentimental value to me, and will never sell it. The one you saw sells for $300 - probably the condition isn’t the greatest? The condition of the bag affects its resell value.