WHAT IS GOING ON WITH THE LUXURY RESALE MARKET? LUXURY IS DYING? CRAZY PRICES! OVERSATURATED STOCK!
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- Опубликовано: 29 июн 2024
- THE LUXURY RESALE MARKET IS CRAZY! PRE LOVED ITEMS SELLING AT CRAZY HIGH AND CRAZY LOW PRICES. WHAT IS GOING ON WITH THE LUXURY RESALE MARKET?
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My observation is that those people who would have purchased pre-loved has declined due to the cost of living and inflation. They have less disposable income. Buy a bag because you LOVE it, not to resell it.
Totally agree, Fashionphile offered me 1200 for LV POCHETTE MÉTIS BRAND NEW!I couldn’t send it back because I was out for vacation. Pochette Métis brand new, original package, payment receipt, NEVER USED! I preferred to give it to my niece
I think the key to understanding the preloved market at the moment is that a lot of people entered the luxury game when you could basically get your money back on many items, sometimes a little more and that became their safety net - now it’s back to normal where a second hand piece should be a better deal and people haven’t adjusted their expectations.
Wealthy people are not the ones buying these used bags. They can afford to buy new bags. Luxury is not buying somone else's used items. The lower to mid middle class are the ones buying these bags. The world is changing and the middle class is disappearing. They're finding it harder and harder to live at the standard of living they've been accustomed to. That is why the resale market has been hit.
I think the resellers are taking advantage of people, both ways, the ones that sell the bags to them (they pay pennies for the bags) and the ones that buy the bags (they overprice the bags) it’s crazy!!!
I bought a Louis Vuitton Eva on eBay; it was from a Japanese seller. When I received the duty bill it was double of what it should have been. DHL said that the bag was shipped from India. The Japanese seller continues to lie about the shipping location. eBay is absolutely no help: an A.I. bot told me that it didn’t matter that the bag was sent from India. It absolutely does matter: I counted on shipping duties from Japan. I’m ONLY ever purchasing from US sellers from now on.
I am only a purchaser (in order to curb my own overconsumption I don’t sell anymore). But as a buyer I am more likely to buy preloved than ever before. But my “rules” for buying resale would infuriate a seller. For example I would never buy a second hand bag (even in perfect condition) for more than 50% of the original (not the current) retail price. And lucky for me more deals like that are available now! Also authentication services are better and more available than even just 5 years ago. And finally overconsumption in general and the internet means just about anything anyone would want is available at any given time so I have more leverage as a buyer to negotiate prices down further.
I wonder if there is also a flood of fakes which results in a perception of increase in supply while all else remains the same.
It’s the luxury “consumer” cosplaying resellers. They’ve completely ruined everything for everyone with their greed and lies. I wish things could go back to how they used to be. Inflated prices, luxury RUclipsrs lying about being resellers, bag limits, unnecessary spending, hoarding handbags, i mean the list just goes on.
It's not just bags but everything. People are very careful with money these days. I used to sell my unwanted designer stuff and could make more than £1000 a month, now I'm lucky if I make £100.
Ive been buying preloved bags for about a decade. Before covid it was great. Things were at a great price and you had time to have a think before buying. There was much less fomo. Lots of people thought preloved was icky back then. I hardly ever brought new. You had to be carful of fakes. Having a good handbag knowledge was vital.
Yes it’s definitely a buyers market. Very much the economy, and I don’t know that the preloved market or luxury will come back any time soon, if at all. People’s priorities are changing, plus, i think the realization of many of these luxury houses are just playing the consumers like Dior and their whole scandal is making people rethink all of it.
I buy to use.. sold some and lost some.. but gotten to the point of just keeping whatever I have until i am old and grey and they will be wrinkly with me too..
This is why I very rarely sell my bags, I’m not going to take a small amount for them. I’ve got so many shoes I could sell but like you say, I’m not giving them away 😳💜
Many of us have to remember we are selling for a loss to resellers. The days of selling for a profit and/or breaking even are few.
I see the problem as people who purchased the bags at a lower price are now flooding the market to make a profit. That’s why when you look there is so much inventory. It applies to Chanel mostly. Flap Bags from 2008 sold for $2500 pre-pandemic and now are listed for $8000. And the Hermes Birkin and Kelly people realize are impractical and too large for everyday. You only learn this after you own them, so buyer’s remorse and they are listed for sale. And finally the “super fakes” which makes you fear buying preloved.
Higher quality & more accurate replicas are also affecting the resell market I think😅
I have a new found love for all of my bags. I’m keeping them for the fact that I’m kinda over spending ridiculous amounts of money on new ones and I’m so glad that I’ve always been strategic about not following trends. 😊
Hey Deb…really appreciate this video. You do one of the best jobs discussing the many aspects of luxury handbag collecting. Keep the vids coming.
I think it’s unrealistic to expect close to full price in a “ used” item. Even if it’s in perfect condition. Why would I pay full price for an item when I can get it at the store and have a full experience with a store “ purchasing history .” I think sellers tend to be a bit greedy with their expectations. That being said, one can be reasonable and get a “ fair” price for an item.