Selling Bags at a Loss

[PineappleMinnie]

With everything that’s going on, I start to re-revisit my closet and the bags I have. Long story short, two bags didn’t work out for me. I bought them online, and both of them I had only used a handful of times.

As you probably know, when you sell your bags, it’s most likely that you’ll lose money - even with Hermes bags, if the condition isn’t great, you’ll still take a huge loss. The Hermes bags don’t increase in value immediately, unless it’s a specific bag that’s very sought after.

Between the two bags, I took approximately $780 loss. I have this feeling of guilt, I guess. $780 could go a long way on groceries, for example. I think this feeling gets heighten during this economic downturn .

How do you feel when you sell your bags at a loss? What is the greatest loss you took?

 

[pinkrose398]

I'm in this situation now. I'm trying to sell a seasonal Chanel bag (my first Chanel bag) and I would have to sell it for almost half of what I bought it for. This is why regardless of how much I love something, I never buy seasonal bags anymore. I think I will still try to sell it because otherwise it's just money sitting in my closet that isn't being used that could be used towards something I enjoy more, or towards other expenses.

 

[tuowei]

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)

 

[PineappleMinnie]

I'm in this situation now. I'm trying to sell a seasonal Chanel bag (my first Chanel bag) and I would have to sell it for almost half of what I bought it for. This is why regardless of how much I love something, I never buy seasonal bags anymore. I think I will still try to sell it because otherwise it's just money sitting in my closet that isn't being used that could be used towards something I enjoy more, or towards other expenses.

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.

Learned my lesson, will never buy bags online again, without seeing them in person. I am never an online shopper anyway, but the two bags were on sale online at the time. I got drawn to it.

Is your Chanel in a very sought after colour? I think iridescent pink is hot in the market now.

 

[PineappleMinnie]

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)

That’s an interesting perspective! What entertainment have you paid repeatedly in the past that you don’t like? Curious to know .

I have been telling myself these days that I don’t *need* another bag. I do have a bag on my wish list, but I am in no rush getting it.

 

[pinkrose398]

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.

Learned my lesson, will never buy bags online again, without seeing them in person. I am never an online shopper anyway, but the two bags were on sale online at the time. I got drawn to it.

Is your Chanel in a very sought after colour? I think iridescent pink is hot in the market now.

The seasonal Chanel I want to sell is black, which should be easy to sell but it hasn’t been

 

[elzi]

I'm okay with selling at a loss cos keeping bags that I don't use gives me anxiety. I love having a small created collection. Also, at least I know for sure that the bag that I loved enough to purchase didn't work out for me and it's out of my system and wishlist.

 

[tuowei]

That’s an interesting perspective! What entertainment have you paid repeatedly in the past that you don’t like? Curious to know .

I have been telling myself these days that I don’t *need* another bag. I do have a bag on my wish list, but I am in no rush getting it.

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.

 

[RT1]

The seasonal Chanel I want to sell is black, which should be easy to sell but it hasn’t been

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.

 

[EmilyM111]

Well think from the buyer's perspective - would you really buy a used bag (even immaculate) that is not rare, risk drama of buying a fake or not as described, take away the boutique experience and practically fund you wearing the bag for a while? We all need to be realistic and I'm talking here as a buyer and a seller (big seller, a lot of $$$ "lost" in the process)
Think the beauty is that you can get anything back - try selling regular designer wardrobe

 

[indiaink]

...How do you feel when you sell your bags at a loss? What is the greatest loss you took?

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...

 

[PineappleMinnie]

The seasonal Chanel I want to sell is black, which should be easy to sell but it hasn’t been

That's tough. People who buy seasonal Chanel bags probably have the classics already - and in this economic crisis, people are less likely to spend money overall (unless it is necessity), let alone getting a seasonal Chanel bag. You may have better luck when the economy gets better. Do you sell your stuff to consignment stores? Or, post it on your Facebook or Instagram, you never know.

 

[limom]

I have always lost money selling my bags.
OTOH, it does not make any money in the closet.

 

[PineappleMinnie]

I'm okay with selling at a loss cos keeping bags that I don't use gives me anxiety. I love having a small created collection. Also, at least I know for sure that the bag that I loved enough to purchase didn't work out for me and it's out of my system and wishlist.

Same here. I don't like to keep stuff that I don't use. Too many handbags give me anxiety and too overwhelmed (I have 10 bags now, and I gave myself the limit max of 12). In my 20s, I bought a lot of makeup. I probably had more than 40 lipsticks. I got rid of many of them. It's not possible to sell used makeup products, obviously. No one would want them due to hygiene reasons. Now, all the makeup I have is what I actually use (e.g. only buy a new foundation when the current one is used up). Looking back that was a lot of money I spent on makeup .

 

[BrandSnob]

No I look at it as if I paid xyz amount to have the bag for however long I had it. So if I had it for 3 years and lost $700 I would just look at it as if you paid $700 to have the bag for that long. Not that bad of a deal (assuming an exspensive bag like Chanel or Hermes which is all I buy). Also, depends on your situation but $700 isn’t making or breaking me so I would try not to sweat it. Also, I expect to sell most things for a slight loss. I don’t view handbags as appreciating in value like regular assets even tho i do typically only buy the classics (flaps, birkins and kelly’s).