Why do people buy pre-loved Chanel at such high prices?

[TigerBoss]

Hi there - I have a few designer bags (Chloe, Gucci, Mulberry, D&G, LV) but am longing for a Chanel. They are just that bit too costly though and whilst I really don't like preloved, I've been looking on some reseller sites to see what's out there and am shocked that many second hand Chanel bags cost the same if not more than a new bag!
I think a bag is very personal and I'm not keen on using something that's already been carried before, there is always at least a tiny risk of it being fake and the fact that it's used to me more than takes the shine of the whole thing / experience and excitement of a new bag.
I have genuine question - why would anyone pay so near the new price for a second hand bag? A new Chanel classic flap is over £5k now - but if you can afford £4.5k or even £4 - why not just save up a bit more and get a new one?
For me I would want at least 1/3rd off for it to be worth it and then the bag would have to be immaculate. I never sell my pre loved bags for silly money because I know I enjoyed them and if it means someone who can't afford a new one can have a designer bag then I'm pleased, plus I get some money back.
Please share with me your thoughts - I appreciate this is only my point of view

 

[Christofle]

Usually the ones selling above retail are simply sold out while there is still demand for them. Chanel releases new colours and finishes each season and some end up being highly valued on the second hard market (in the short term).

Depending on where one lives there can be a huge percentage of tax added onto the retail cost so the real cost to purchase new may be different.

Chanel has constant price increases and after one occurs the second hand prices increase accordingly.

Chanel also doesn’t have any outlets nor do they have annual sales on handbags so devaluation is as intense as some other brands like Dior and D&G that have outlets/seasonal sales.

Lastly lots of people are already stretching their dollars to the extreme and simply can’t pay the extra several hundred for a new bag.

 

[Swanky]

Simple: supply and demand. Chanel holds its value pretty well and doesn’t oversaturate the market with mass production. As prices continue to rise and more bags aren’t available, people seek alternate ways to get hard to find colors, skins, items.

 

[cncm]

It's crazy how much preloved prices have gone up this year, though not surprising I guess given the retail price hikes. I bought a preloved vintage Chanel Diana bag late last year for around $1500 and now they're going for over $3k on ebay/fashionphile/etc...in less than a year!!

 

[PurpleRabbit]

It's crazy how much preloved prices have gone up this year, though not surprising I guess given the retail price hikes. I bought a preloved vintage Chanel Diana bag late last year for around $1500 and now they're going for over $3k on ebay/fashionphile/etc...in less than a year!!

Right there with ya. I purchased a vintage M/L classic double flap a few years ago and I paid $1,500. She is in excellent condition, no flat quilts. Now I see vintage M/L classic double flaps going for $3K + that are in less than good condition.

 

[resplendent]

I hunt for pre-loved items (not just luxury) when things are discontinued or were/are in limited supply at its original run.

For peace of mind and for potential after-purchase service, 95% of the time I prefer buying at official retailers/boutiques but sometimes it's just not possible.

 

[Newbie2016]

I don't buy preloved and would rather buy less but purchase brand new. I actually think not buying preloved might save me money in the long run. Many people buy preloved online so impulse buying is possible 24/7 whereas stores are closed in the evenings! Additionally, if it's not available in the boutiques or department stores than I know I am out of luck and eventually stop stressing over the item instead of searching all corners of the planet for it and potentially paying a premium.

I also don't have the time or energy to get items authenticated, deal with perfume odors and all the other little things that could bother me with preloved items...I rarely return items to stores and even find that to be a hassle!

At the end of the day it is a personal decision and there will be varying viewpoints...

 

[pinkrose398]

I started out my designer collection by buying preloved only because I wasn't making very much and a $500 savings is still $500 in my pocket. The last few years I've only been buying new retail, but this year I bought a vintage Chanel.

Like others have said, it's a personal choice and there's no blanket statement that applies to everyone. The preloved market varies so much too where you have items that are visibly used, or you also have items that was owned by someone at some point but was never or rarely used. The latter is extremely common for people who are wealthier and who can afford to buy many bags but don't have enough arms to actually wear them all. When they want to declutter, you can get a very good condition preloved bag for some savings.

Serious Chanel collectors also go after specific seasons for their colour / leather quality. There are certain seasons where the leather is known to be very beautiful and lush, so bags from those seasons sell more than from a season where the leather is more normal.

I have genuine question - why would anyone pay so near the new price for a second hand bag? A new Chanel classic flap is over £5k now - but if you can afford £4.5k or even £4 - why not just save up a bit more and get a new one?
For me I would want at least 1/3rd off for it to be worth it and then the bag would have to be immaculate. I never sell my pre loved bags for silly money because I know I enjoyed them and if it means someone who can't afford a new one can have a designer bag then I'm pleased, plus I get some money back.

Sometimes it takes people a long time to save $1000 to go towards a luxury bag, and by the time you've made it there, the price would have gone up 20%. That's not an uncommon occurrence for Chanel. Once the retail price goes up, the preloved market is also "adjusted" to go up with the retail price.

What is "silly money"? All of the brands you listed ( Chloe, Gucci, Mulberry, D&G, LV ), with the exception of LV, have not very good resale. Chloe for example, produces very trendy bags that are super hot one minute and then the next minute it's not, so even if you tried selling for high prices, you'll unlikely get that.

If you want to find Chanel for 1/3 off and in immaculate condition, it's possible, it just won't be the classic flap styles.

This is another reason why I don't buy non-Chanel, non-LV bags anymore unless it's something I absolutely love and must have and I've been thinking about it for a year. Chanel and LV bags make good "investments" (in quotes because it's not a real investment and it shouldn't be treated as a place to store your money) because you can buy it, use it a few years, and then resell it and get most of your money back. I purchased a brand new jumbo in 2017 for around C$6500 but retail price is over C$10,000 with tax today, and there's no indication the price increases are going to stop in the near future, so there's a very high chance that even though my bag is used, I can get most, if not all of of my money back when I sell it.

Depending on where one lives there can be a huge percentage of tax added onto the retail cost so the real cost to purchase new may be different.

Lastly lots of people are already stretching their dollars to the extreme and simply can’t pay the extra several hundred for a new bag.

Yes, both of these things are true, AND another reason I can think of some preloved sites or sellers allow you to pay for something via layaway or payment plan, interest free, without affecting your credit.

If something is near new and you can save $1000 off the regular retail price, then that's $1000 extra money for you. You get the item you want and you also get to keep $1000, that's win-win for some people.

 

[Vintage Leather]

A thousand dollars is nothing to sneeze at. And not having to deal with the boutique bullcrap is often worth paying a little over retail.

In addition, some people genuinely prefer vintage bags. I’m one of them.

Why would I want to pay an extra $1k for something that is more cheaply made? I know, I might have to deal with some weird smells, but that can be cleaned up and the smells fade.

Humans will pack bond with almost anything. Some people will buy the worn bag because it needs love.

Also, preloaded takes a lot of stress out of the First Scratch! It’s already there.

 

[880]

I buy both boutique fresh and preloved. in the case of Chanel, I started in the boutique and only stopped when boutique prices were closing in on Hermes preloved. . . when I became more active in TPF to learn about Hermes, I eventually developed a relationship with an H SA, and bought there, until she left for another career. Then I resumed buying H preloved.

currently Chanel has stopped making exotic skin bags As per my Chanel SA. So, I’m eying stingray and python and other exotic skin Chanel bags on recommended reseller sites. they are oddly better buys than some of the regular leather bags.

at the same time, especially with Japanese resellers, Hermes bags are now really good deals. Since I prefer H bags made of saddle leather with a patina, there is enormous savings and greater variety in buying preloved. It’s also a way to try bags the boutique stopped production. And, some people believe before Hermes and Chanel went global and expanded, the craftsmanship was better. H bags can also be refurbished and were designed as heirloom pieces. . .

for long time RTW buyers who remember old price points, the new price of a Chanel jacket ( as of 2020, my Chanel SA told me the jacket I liked best was a whopping 12K Usd). if you were a RTW customer that missed a desired item in the boutique sale, preloved, sometimes NWT, is another chance. If, like me, you also love vintage dead stock RTW (Pucci, norman norell, Donald brooks, adel Simpson, you can only buy those vintage.

fashion Is also extremely wasteful in terms of energy and resource consumption, and if you buy a lot, shopping preloved is a way to do so in a more sustainable fashion. IMO, there is room in ones closet for many types of shopping avenues.

edit: forgot to add, there are times when someone buys a bag or item; decides wrongly that it’s not right and consigns or gives it away (once or twice), and decides a year or two later, that they made a mistake and need to repurchase. one of the benefits of belonging to TPF is I learned that I’m not alone in this. By the time you realize that the item was in fact indispensable, it’s no longer available in the boutique and anyway your SA would think you were an utter idiot to have given it up in the first place. . .

 

[Saaski]

I really like the look and quality of vintage bags, but I will say that it's getting harder as the prices go up to match what retail is doing. I'm so envious of fellow tpf-ers who have gotten bags for $800-$1500 even just a year or two ago.

 

[mrsblue]

edit: forgot to add, there are times when someone buys a bag or item; decides wrongly that it’s not right and consigns or gives it away (once or twice), and decides a year or two later, that they made a mistake and need to repurchase. one of the benefits of belonging to TPF is I learned that I’m not alone in this. By the time you realize that the item was in fact indispensable, it’s no longer available in the boutique and anyway your SA would think you were an utter idiot to have given it up in the first place. . .

That’s me!

I’ve exchanged a bag I thought I didn’t love for a bag I truly did not love. Wanted to buy back the bag I’ve given up 3 days later, only to have my SA tell me that it’s been sold the day I’ve returned it. Been searching high and low for it ever since.

880 would be be so kind to recommend your Japanese vintage seller, I’m looking for a discontinued bag. TIA

 

[Sylly]

I buy both. Definitely most of my bags have been new, but several have been unicorns that I missed the first time around, then later found on the pre-loved market. Many pre-loved bags can command a high price tag simply because of supply and demand; there are more people wanting certain bags than there are bags available. I remember seeing the infamous 17B rose gold mini for sale by several well known resellers a couple of years ago for a little over a thousand above retail, and although I was tempted, I stopped myself from buying because it was so much over retail. Now, looking back, I kick myself for not grabbing that beauty when I had the chance; those are now well over DOUBLE retail, some I have seen close to TRIPLE retail. And yes, there are people paying those prices.
Just like cars, antiques and other desirable objects, people will pay for what they want.

 

[880]

That’s me!

I’ve exchanged a bag I thought I didn’t love for a bag I truly did not love. Wanted to buy back the bag I’ve given up 3 days later, only to have my SA tell me that it’s been sold the day I’ve returned it. Been searching high and low for it ever since.

880 would be be so kind to recommend your Japanese vintage seller, I’m looking for a discontinued bag. TIA

currently I mainly look for vintage Hermes, not chanel, but I think there is a specific thread. . .https://forum.purseblog.com/threads/reference-master-list-of-brick-and-mortar-com-resellers.42499/
also, on Tpf, https://forum.purseblog.com/threads/chanel-resellers-consignment-recommendations-only.637137/


japanese: anything Rakuten. I remember trying to find a specific Japanese reseller on Rakuten (it’s a higher end Japanese market of sorts) earlier this year, and getting a notice that rakuten was out of business. . . if you type Rakuten in the query box in the Hermes or Chanel sub forum, I believe there should be more discussions by TPFers beyond the threads posted here.
For bargain shoppers (I like to buy rescue birkins and then send to @docride for custom designs — like camo), (she will also recondition, weather proof and brush HW) I like brand JFA and Brandoff on eBay. (If you are US based, factor in your states sales tax plus approx. 10% customs/carriage via DHL. I like the Japanese resellers bc Japan has very strict laws re counterfeits and they seem to describe flaws honestly. But the best surprise piece I bought this year was a pristine, 2018 BB Kelly longue wallet phw (For about 4k usd) and a Pristine 2002 28 blue sellier kelly (For about 6K usd) both from Japanese resellers that I had honestly never heard of, apologies I cannot recall the names. I literally found them by doing an ebay search for what I wanted and going through listings. I’ve also bought from Let-trade which I think is Hong Kong;I don’t remember, but it’s on one of the recommended reseller lists on tpf. (Pls do double check and do your own due diligence though).
you can also plug in and search this thread once you’ve found a seller with what you want: https://forum.purseblog.com/threads/discuss-hermes-resale-ebay-sellers.643531/page-536

US based resellers I like are listed on the Hermes recommended reseller list, but there should also be one on the chanel sub forum specifically: many tpfers like fashionphile (though less after Neiman Marcus bought a stake); Ann’s fabulous finds; Yoogis closet (I noticed YC seemed to have. A lot of chanel); I also recall Sandia Exchange haute Gallery from years ago. . .

There is also something vault, maybe goodluxvault from bOsRox on which seems on the up and up re Hermes but I haven’t bought anything and you’d have to do your own due diligence re authentication. I don’t believe it’s on a recommended reseller list. I do think I saw an interesting stingray boy or python chanel Flap, but again, you’d have to authenticate.

and there are a few shops in Malleries.com.

EU - luxury zurich; now luxury shops.

if you need more specifics, feel free to pm; I don’t want to take up more space here lol. However, everyone has to do their own due diligence re authentication etc. HTH

 

[classybags4ever]

I don’t get it either. There are some unicorns that got away, fine I’ll just do without them. Chanel will come out with a new unicorn I will fall in love with one day. As to price savings, I’m already spending thousands, I can spend a few thousand more and get the full boutique experience and have piece of mind that the bag is authentic, and that it’s first scratch will be my scratch. I didn’t buy my first Chanel until I was very financially comfortable. Personally, if I needed to stretch my savings to buy a luxury bag, I would not buy one. And I didn’t, for many years, my first Chanel was when I was 30. It was more important for me to have financial security than have an uber premium luxury bag. That’s my philosophy personally, but to each their own.

I think I may have one hypothesis for why preloved is so popular. Many people, especially female bloggers or influencers, buy and flip bags all the time. If they buy for a discount, then they lose less money when they sell the bag again. And if you’re in this business and want to flip bags constantly, it would be more cost effective to buy preloved. However with preloved prices also skyrocketing, this may not be that feasible much longer. Sometimes I browse preloved reseller sites for the heck of it and the new or excellent condition bags are close to retail if not at or above retail.