If you’re regular reader of the blog, you’ve probably noticed that there’s a pretty hot secondary market for handbags right now, especially when it comes to brands with tightly controlled product supplies like Hermès, Chanel and Louis Vuitton, which don’t sell their wares through third-party retailers. Businessweek recently looked into the secondary market for luxury goods and confirmed what people in the market already knew, anecdotally–there’s money to be made.

Not only have auction houses like Heritage and Christie’s gotten into the high-end handbag game in a huge way over the past couple of years, but new businesses like The Real Real and Vestiaire Collective have found huge success while largely forgoing the collectible watches and fine jewelry that make up the lion’s share of the $19 billion global luxury resale market. Businessweek reports that leather goods and clothes makes up around $4 billion of that market, and there’s no clear leader in the space just yet.

What’s clear, though, is that you might have a gold mine stuffed in the back of your closet, unused and forgotten. If you have a bag from a major brand that was made in the past 10 years, you can probably get at least several hundred dollars out of it, even if it’s a bit dated. If you have a classic bag from Hermès or Chanel in good condition, you might be able to recoup your entire purchase cost, plus a little extra.

Do you resell your bags when you’re done or hold on to them?

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Share Your Thoughts With Us

  • missarewa

    I tried to resell an old Gucci but I changed my mind at the last minute. It was a combination of the price being a little too low and me being very attached to the said bag. The bag is covered in Gucci monogram canvas and I know I won’t carry her but letting go is SO HARD!

    • nikki

      sometimes sentiment doesn’t have a price tag. i know its cheesy, but selling a bag for an insignificant price that has memories and what not is so not worth it! i never use some of my older coach and juicy bags but i will never let them go because when i look at those bags and put them on my arm i remember how much joy those bags brought me and how fabulous they made me feel. those memories and that rush of joy i get when i look at those bags is irreplaceable

  • Aly

    I’ve had lots of success selling via eBay. Resale helps to pay for new treasures!

  • Dawn

    I resold a Chanel, not a classic, that I bought used for $800 7 years ago for $1000 last week. I think the store I sold it to turned around and sold it for $2500! If your not using your bag there is definitely money to be made.

  • shueaddict

    Actually I give away the bags I no longer use (read … the cheaper ones) . My fashion savy assistant / hairdresser / young nanny have been all gifted with Tory Burch / Marc Marc Jacobs / Michael Kors from my earlier years of handbag hoarding. It’s got to the point that they are calling dibs on a specific bag “can I get the orange Coach when you no longer want it?”. Needless to say I keep all the good stuff to myself.

  • AMT

    In my experience this is only true for Hermes and Chanel bags. By the way, there’s discussion about the state of the resale market on the Purse Forum. It’s quite an interesting thread.

  • Joana Richard

    Hello,

    Yes I do resell, but unfortunaly allways resell when they are still like new, so I lost money, but In my opinion, having bags and then selling It doesnt mean I have to do money but actually use them, If I dont use somebody will love them!

    Sorry the English :)

    Huge Kiss Joana from Portugal

    And I need to say something I find in you forum, In Portugal In Lisboa the Louis Vuitton seller associates arent mean at all, very friendly, If you ever come where buy were and experience a good nice purchase :)

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  • Corey Palmer

    Check out Real Deal Collection for an amazing selection of pre-owned luxury handbags!

    http://www.realdealcollection.com