A shift in attitude when it comes to buying pre-loved items – designer or otherwise – has seen the market embraced not only by the masses but also by luxury shoppers.
“Over the past three years, the market has exploded,” says Hanushka Toni, co-founder of British luxury resale site Sellier Knightsbridge.
“We have customers buying from us who you actually consider very high net worth, who previously would buy with Chanel and Hermès only in the primary market. The second hand idea was just like, ‘What? Why would I buy someone else’s old stuff? Today, those customers are buying about 25-30% pre-likes with brands like ours,” she says.
At eBay, head of luxury Brooke Eichhorn reveals that number is even higher, subsequently driving the price of second-hand designer bags in the same direction.
“Globally, we find that 69% of luxury shoppers buy second-hand handbags because of their more affordable price as well as the possibility of finding rare and vintage items,” says Eichhorn.
“On eBay, the value of timeless designer handbags has increased significantly over the past few years, for example, Hermès Birkin bags up 54%, Chanel quilted bags up 45% and Dior satchels up by 84%.
The array of celebrity styles, a resurgence of Y2K fashion trends, and even cultural touchstones play into some brands and styles of bags that are gaining popularity.
“We are definitely seeing a huge influence from late 90s, early 2000s and 2000s trends. up 41% and Fendi baguettes up 40% on the back of the sex and the city reboot,” reveals Depop’s Aria Wigneswaran.
If you’re looking to invest in a designer handbag, whether new or vintage, and plan to resell it eventually, there are a few key styles and things to keep in mind for optimal resale value. .
“We always recommend investing in classic styles or unique editions to get the best long-term return,” Wigneswaran advises.
Hanushka Toni of Sellier Knightsbridge reveals the exclusivity and quality of French fashion houses, Hermès and Chanel, which get the best return on investment, with some bags earning double or triple their retail value.
She also suggests shopping in two key categories: unique versions or timeless neutrals.
“A lot of the bags that attract premiums are those in really unusual colors that are no longer produced,” Toni tells us.
“They tend to have incredible long-term investment value just because they’re so rare, but if you’re buying so you can always resell and you’re not looking at a 20-year hold, I’d say neutrals with gold hardware.
Beyond aesthetics, one message is clear: quality is of the utmost importance, so whatever style you decide to buy, keeping it in good condition is essential. Translation: don’t throw away those dust bags!