What's your rational in keeping a bag (not lose any money) vs selling it and lose lots of money

[resrobin15]

Ok, so there are lots of discussions about whether someone should sell a bag to fund a new bag, and usually the advice is usually if you don't like it then sell it.... From my experience in getting quotes from various resellers (Rebag, Fashionphile, etc), I would lose a lot of money (around 50% of purchase price and that's a lot of money for high ticket items). For example, I have the mini iridescent vanity, it's so tiny doesn't fit anything and I hate to unzip all the way around to get things out. It's brand new, never used.... Got a quote from Fashionphile and they would only pay 2500... I paid 4500 plus tax for it!
So here's the question: how do you justify losing all that money just to pay more money for a new bag? Or would you just keep it so at least you still have a $4500 bag in your closet? In a perfect world I never should have bought it too begin with, but hindsight is always 20/20

 

[mssmelanie]

Ugh! I know what you mean. I would fall in love at the store. But I don’t think about how often I would be able to use them! Which since I commute on a train and walk a half mile to work, I really need a functional worry free bag. And I don’t go out fancy as much as I used too. I can’t have a $2k-$4k bag sit in my closet to be used twice a year! It makes me feel so bad. I get so sucked in at the store because you know if u don’t get the bag, u might not be able to buy it again. It’s their whole MO, the exclusivity of it all. Buy it now or you might not be able to again.

Sorry to ramble on, but I would probably sell the bag and put the money towards something you WILL use. I know now that I’m a tote or cross body girl with an easy opening. You will probably cringe at the loss, but feel better about getting a better more functional and cute bag! Good luck with ur decision!

 

[plue89]

I have a celine belt bag that’s been sitting in my closet ever since it arrived home from Paris always wanted to sell it but it pains me so much so see the loss especially because I hardly use it. I still really love the style so I don’t know why I just never reach for it. I think I need to just bite and bullet and do it and put towards future purchases. I used to think Chanel bags are pretty safe as in if It’s a classic you would really see all your money back. And with an iridescent you really shouldn’t have any troubles selling it I would have thought. They must make such a huge margin because you hardly see any iridescent go under 4K nowadays. I would suggest finding a reputable Chanel group in Facebook sell it through there. I am part of one and it seemed like people have no troubles selling theirs. Most people price it slightly under what you would pay for it on fashionphile but some are still quite ridiculously high especially when it comes to iridescent items. Oh also if you don’t want the headache and don’t mind paying the fees you can try consigning with instagram resellers only because I have noticed iridescent items do go fast and I bought medium iridescent vanity through a consigner

 

[TraceySH]

One of the most used in my incessant buy and sell chaos is, whatever price they offer me, would I PAY that to buy it now? So would you PAY 2500 to buy the vanity right now?

 

[Emily1830]

I struggle with this too, but mainly for bags that are worn/too damaged to sell. I have several bags that I can still wear but would fetch next to nothing if sold because of the state it’s in. I either hold on to it or give it away. It’s awful but I find this harder than selling bags that are at least going to fetch you $2500. The question is whether $2500 would make a significant difference to you. If yes, and you would never wear the bag you’re selling, then sell it. If you can start to wear it, try wearing it. For this reason I don’t buy bags to resell later. In other words, I buy if I can afford to keep it forever and not feel terrible if I can’t resell it.

 

[karenjade]

It’s probably a quirk of my psyche, but if I have a bag, I feel like I should use it in order to justify the expense. If I don’t like the bag any more, then it becomes a burden to me as I feel obligated to wear something I don’t like. As a result, I’ve gotten into the habit of selling bags when I no longer enjoy wearing them and have moved on to something else.

Yes, I often lose a lot of money when I sell, but the money’s really lost anyway. Once you buy a bag, it isn’t worth what you paid for it - it’s worth what you can sell it for. So your bag is really worth $2500 whether you hang on to it or not. I consider that the cost of this “hobby”. Plus it’s nice to be able to free up the money to use as you like, rather than having it sunk into a bag you don’t like anymore.

 

[Mulberrygal]

I struggle with moving on my bags now. I feel I have got my collection just right but I have too many that just sit in their dustbags. I know I should downsize my collection but I love all the bags I have and will use them one day I don't feel any were a mistake but I do have favourites and I reach for these first also circumstances change and we need different bags
I bought a LV Clapton backpack recently and it's the perfect day bag for me. Other than my Chanel WOC I rarely pick up a different bag unless for evening or holidays. I promised myself I would sell bags I don't use to fund the LV and I've made a start.............sold a couple that I really love but don't suit my lifestyle anymore. I'd hung on to them too long and they've devalued which hurts even more especially as they were so rarely used.
Oh well..........deep breath. I must continue until I have what I believe is a sensibly sized collection

 

[love2learn]

You have to be ready to do it mentally. The ones I’ve sold I was so over them. There are a few that I rarely ever use and in my head I told myself “I’ll get quotes and see what I can get and if it’s not much than I’m hanging onto it.” I will say on the ones I was “over” I had actually gotten low quotes and then held onto them a year. I then got new quotes and they went up significantly. However, this could work the other way also and be lower. You just have to be ready for the lower price and decide if you’re “done with it”, sell, and move on.

 

[Mcandy]

Ive sold a few bags but those were bags I saw in a second hand store that I l know I shall never use. Ive never sold any from my personal collection. I did trade one though for something I like more. I recently bought an authentic burberry bag and my husband wants to resell it but I said nope! If i really really like a bag and I know I shall never buy another again ill keep it. Probably if you own lots and you never use it than its the best to sell it

 

[SnowWhite92]

I lost $1500 when I resold my Boy bag. It stung, but it taught me a lesson in how to choose my future handbags to minimize the loss later on. I now place a greater importance on durability and finding a bag to match my lifestyle.

Bottom line is, whether the bag sat on my shelf collecting dust or was sold the $1500 was already lost, but by selling I was able to recover $2500. That money turned into an ability to buy what truly would be used and useful, and made me a much more careful shopper as a result.

The reality is that most handbags will not appreciate, and therefore loss of value and a hit on resale is expected- much like a new car. Would you let a car sit in your garage unused, just because you couldn't resell it for the price you paid?

Good luck with your decision!

 

[EmilyM111]

I struggle with this too, but mainly for bags that are worn/too damaged to sell. I have several bags that I can still wear but would fetch next to nothing if sold because of the state it’s in. I either hold on to it or give it away. It’s awful but I find this harder than selling bags that are at least going to fetch you $2500. The question is whether $2500 would make a significant difference to you. If yes, and you would never wear the bag you’re selling, then sell it. If you can start to wear it, try wearing it. For this reason I don’t buy bags to resell later. In other words, I buy if I can afford to keep it forever and not feel terrible if I can’t resell it.

This! I have almost not used LV Capucines PM, paid around £3400 for it. When thought about selling and put it for consignment/vestiaire i got offers way below £2k. At this point I asked myself - would I buy it for £1.8k now to wear it a few time per year only. FOR SURE!!!

The other thing we all have to realise - there is no guarantee of 'getting money back'. There is an urban myth (maybe applicable for those who bought Hermes or Chanel 10 years ago) of getting money back. Any item leaving a store (whether it's jewellery, bags, car etc.) unless returned to that particular store in unused condition, is no longer worth that price. Think from the perspective of buyer - would you pay a full price for an uncertain item that you can buy from a boutique whilst seller could have actually worn it many times regardless what they claim or bag might be not as described or even fake?
It was a lesson for me as a seller to hear that argument from somebody as originally I was super confident about my high selling prices. I tend to buy now either after longer consideration, switched also to Hermes where items are not readily available or when buying fun bags (eg. recently YSL Loulou) i know I'd get bored with them and recoup only 50% at most (which is still amazing - I have donated tonnes of clothes form H&M, Zara, Topshop etc. that nobody would ever buy off me that cost at least one Chanel bag).

 

[EmilyM111]

It’s probably a quirk of my psyche, but if I have a bag, I feel like I should use it in order to justify the expense. If I don’t like the bag any more, then it becomes a burden to me as I feel obligated to wear something I don’t like. As a result, I’ve gotten into the habit of selling bags when I no longer enjoy wearing them and have moved on to something else.

Yes, I often lose a lot of money when I sell, but the money’s really lost anyway. Once you buy a bag, it isn’t worth what you paid for it - it’s worth what you can sell it for. So your bag is really worth $2500 whether you hang on to it or not. I consider that the cost of this “hobby”. Plus it’s nice to be able to free up the money to use as you like, rather than having it sunk into a bag you don’t like anymore.

I'm like this as well.

 

[showgratitude]

For me, designer bags are not investments. They are luxury items that you purchase when you have money to burn. They may make you feel happy and excited. If you don’t want them any more for whatever reason, you can surely sell them if you want to. But know that it is usually at a lost. For me, a designer bag’s ultimate purpose was to give you that “nice feeling” it gave you when you bought it/had it/used it. (If one only wanted a "container" for her belongings, one could have used any regular/ordinary/inexpensive bag easily). Now, if by some odd occurrence you break even or get more than what you paid for after using it, great! If not, just always remember the nice feeling it gave you before…..and be happy that at least, you will still get some cash out of it when you sell it.

 

[ccbaggirl89]

You start buying used. Realize sooner rather than later that every single bag is going to make you lose hundreds, if not thousands. If you had bought your vanity used for maybe 3300-3500 then you wouldn't be suffering as much of a loss. When you can't afford to lose $$$, you should purchase pre-loved. Don't buy the next bag new, use the 2500 towards a similarly priced bag, not a new 5K one, but a preloved 2500-3K one. Keep buying in the same price range when you get the buyout money and don't go over by thousands.

 

[resrobin15]

Thanks everyone for your insights! I guess I never thought of the bags depreciating by 50% the minute they pass the return policy time period! I keep telling myself to stop buying bags but then every season something better keeps coming along! So lesson learned... When in doubt, just return it!