It’s no secret that sustainability and second hand shopping are top of mind for many right now and that our society has seen a shift over the last few years in the direction of a more sustainable future. Let me preface this post by stating that I am in full support of the sustainability movement and try my best to be mindful and contribute where I can. I’m not an expert on sustainability, but I am really interested in the topic and try to learn as much as I can about it. This post is focused on my perspective of selling my handbags versus whether or not sustainability is a good thing (of course I believe it is!).
I’ve been reselling my handbags for over a decade and have always found that certain brands hold their value better than others. In my experience, Louis Vuitton was one of the brands that consistently held its value, one of the few I could count on to make a decent return and take a minimal hit when I sold off my beloved bag to a new home. In fact, some of the rarer Louis Vuittons even came at a premium. It’s one of the reasons I consistently purchase from Louis Vuitton to this day, if I were to grow tired of a bag, I could sell it for a decent price. That may no longer be true.
Last week I sent images and descriptions of two Louis Vuitton bags of mine to several well known luxury consignment websites for quotes. I should mention I have sold and purchased bags with two of the three sites I requested quotes from and have always been happy with the value of the transaction as a seller. Both bags I am currently interested in selling are excellently cared for, they have no signs of wear to the canvas or the interior lining. Both bags have vachetta handles and trim, and one of them has not yet even began to patina because it has been used so infrequently. When I send in the various requests for quotes, I don’t expect to get what I paid for them because I understand that resale websites need to make a profit, and I certainly account for that, but the quotes I received were very, very low (shockingly so).
This lead me down the path of asking myself what has changed? Shoppers are driven to live more sustainably. For years it seemed that people sold their bags to make a profit, not to lessen their carbon footprint, but not anymore. In order to be more environmentally friendly, shoppers are flocking to the resale market both to sell and to buy, which means there are more bags available on the resale market. It’s excellent because the resale market has more selection and variety than ever before, but it also means resale shops don’t have to give their sellers top dollar anymore. From a sustainability standpoint, I think this is fantastic, and as a frequent shopper on resale markets, I get it. There is nothing better than scoring a designer bag at a fraction of the cost, I’ve been the person on the buying end many times and take great joy in it from a fiscal and environmental standpoint.
However, I am now on the selling side and I feel torn. I’m having an internal dilemma. Do I sell my bags for less than a quarter of what I purchased them for or do I hold onto them and hope I will fall in love with them again? At a certain point it feels as though I am bag hoarding a bit, and I’ve added quite a few acquisitions to my collection recently, so I feel as though there is room to let a few go. It’s hard to take such a big hit, even when I know it’s likely the right thing to do.
For now I have decided to take some time to think about if I am okay with letting them go for such a low dollar amount and perhaps try again in a few months.
Welcome to the growing trend. This is predominate in nearly all high end designers. You will get a fraction of your initial purchase price. Silver lining: this definitely puts a damper on your shopping tendencies and forces you to be smarter about your future purchases.
So true!
People buy used bags to save money. Not to reduce their carbon footprint.
Both are true. I buy nothing but consignment now and haven’t for some years. I love fashion but have concerns about how it is produced, and made a choice to go this route. I am far from alone in this. And yes, would I rather save 3 grand on a bag that has only been used a few times than pay full price? Damn straight.
I buy preloved because I don’t have the budget to buy brand new, I also like several older styles you can’t get new anymore PLUS I could not justify purchasing as many things if I bought just new items exactly because of the environmental load of new items.
I have several bags that have had several owners before me and some of them will surely return to the preloved market once I get my head around the thought of selling them – one of the reasons is that the prices have plummeted. A few yrs a ago 120 € for a Chloé wallet was a steal, now the offers are around 25% lower if I try to sell. A Mulberry Ledbury bought for 350 € was cheap a few yrs ago, now you can get one in similar condition for 250 €.
This trend is seen across the designer goods market and this is one of the reasons people often sell via auction sites and Facebook flea markets. Sure it’s a lot more but you can also get a better price.
I buy used for both reasons! Reducing my consumption of new goods is definitely a conscious benefit to buying used goods for me
Where do you get your facts? You are certainly not talking about me or anyone that I know. I buy for both reasons, but I’m more interested in reducing the carbon footprint, as everyone should be.
Everyone in the comments section is stating opinion, not facts. She’s a PB reader not a data research person. But based on several other comments here, she is not alone in her opinion. Reducing carbon footprint is an added bonus for many but not the driving force.
When the commentator wrote “people” it’s a generalized statement that encompasses all “people”, which also means “me” when I’m not part of the categorical statement. Nonetheless, explanations are far better coming from the person that wrote the statement vs. you or me.
My use of the word “facts” was also understandably misunderstood since I didn’t “technically” mean it. I use the word as a colloquialism because it’s my way of writing and speaking, but I can see how “confusing” it was. The written word can come across as harsh when it wasn’t intended to be, which is true in this situation. Thx for bringing this to my intention!
“Attention” not “Intention”.
Thank you….
My words weren’t meant as an attack. ?
Agree. I feel now, buying used bags don’t have quite the slight stigma as before. The carbon footprint is a bonus.
Are you seriously writing a whole piece on the entire resale market based on quotes for two LV bags? Where’s the data, the research?
There’s no substance here other than speculation.
Are you really that triggered over this article? Seems more like just an opinion piece to me to generate conversation. Geez.
And if you’ve been reading the news, the resale market is booming. Hell there’s even rumors that luxury brands are considering their own reselling of their products. Article might not have numbers but it’s certainly not speculation.
Are you really that triggered over my comment? Seems more like an opinion comment to generate conversation. Geez.
Yes, I read the news. This is not news in any form whatsoever.
Lame ass “comeback” that I won’t even dignify. Read the top of Lucy’s article, it says OPINION not news. She can speculate to high heavens if she wants.
If my comeback was lame, now you know how your comment was.
Yeah, she can speculate to high heavens all she wants, but an opinion based on no facts is worthless.
Can you people please take this out into the alley where it belongs? What are you, five?
LOL! ???
I don’t think it has anything to do with questions of sustainability (although I wish you were right). In my opinion, and solely based on my own observations of the market, it seems that resale websites are in a strong position with a huge amount of people trying to sell in order to fund their next purchases and only a few reputable consignment/resale companies. Offers are lower because there are so many of them coming in. And some bags are simply not as popular as others. Also, what sells well? Mostly bags with bold, visible logos.
I’d recommend selling them yourself via Ebay, Poshmark, or OfferUp so that you’ll pocket most the money yourself (Ebay takes a lower cut than Poshmark). Having said that, these sites don’t “guarantee authenticity,” you will have to put in more effort/proof to show your bags are, indeed, authentic.
Maybe if we all make smarter purchases so that we don’t buy something on impulse and then want to sell it? If we really think things through, we may be more than likely to hang onto something longer. I’m so guilty of buying on impulse only to have regrets later.
I buy secondhand to save money. My occupation and love of luxury don’t match. LOL! I also buy things that I missed out on. For example, I missed out on the mini Pashli. I bought one online secondhand. I have more that gotten my money’s worth out of that bag.
To be honest, sustainability does not cross my mind. I can’t afford $200+ pair of jeans, but I can but them at $25.
From someone who has sold bags to resale markets (I’m talking only about Fashionphile) they do offer very lowball offers. They are in “collaboration with Neiman Marcus” and they have a very, very profitable business model. I can’t speak for how many similar bags they receive, but from the quotes I receive for new, high end bags it’s laughable. I’m not surprised they are making you such a lowball offer. However, if you decide not to sell now, but later you can be guaranteed an even lower offer the next time. It’s been my experience that their first offer is their “best” offer.
I totally agree with this.
I know full well that I am not going to get what I paid originally, but getting such low ball offers then seeing them list it for 3 times what they paid me comes across as greed. I get that they need to make a profit but come on! Then the follow up email about “don’t forget our quote”–sheesh. My bag is staying with me.
Sustainability has little to do with my consideration of a pre-loved bag. It’s more about being fed up with price gouging accompanied by quality decline in some of the premium designer bags. If you want me to spend upwards of 3k for a regular sized, non-exotic bag, the quality better be FLAWLESS. A pre-loved bag that has been carefully taken care of can look better than some brand-new bags these days, sad to say. Sustainability is a value add, but not the main driver for a purchasing decision. (by the way, if you think bag resellers are low-balling you, try selling china or crystal to Replacements, Ltd — they could write the book on buy low [VERY low] and sell high)
I have been watching the resale market evolve over the last 20 years. First, it was eBay, then came Poshmark, and then resellers like Yoogi’s Closet and Fashionphile, who employ graphic designers, photographers, etc., for stylish content. Now, I see private social network groups simply selling luxury bags and SLG within their closed groups. No overhead, no seller fees, save a fee for payment via PP. Person-to-person sales in these groups also means less availability for the big resale companies. I have an IG (Instagram) account, and have purchased bags directly from their owners via IG, with no problems. Competition is emerging from a variety of sources. Within the last three years, resale chains such as Clothes Mentor and Plato’s Closet have impacted the local resale markets. Assuredly, that can also be fraught with authenticity issues, but we have also seen that with another resale giant who I will politely refrain from naming. In summary, the resale market has a variety of iterations and it is evolving quickly. The bottom line–how much is the consumer is willing to pay, or can afford to pay–for the pre-owned bag for which they have been longing?
It seems the resale market is absolutely flooded lately with Birkins. I see page after page after page on RealReal, so I’m pretty sure prices will have to come down at some point..there is far more supply than demand.
I don’t think that this has anything to do with sustainability as much as a few other factors for a buyers market. The main one is cost all high end brands have constant price increases makes it hard to find a new bag under 2,000. Most people aren’t willing/can’t pay those kinds of prices for accessories, it’s not a need. I also think that the stigma behind buying resale has also changed a lot in the past 10+ years. Especially with so many outlets to sell outside of the traditional resale/consignment store like apps specifically to sell, poshmark, Facebook groups. I also think that some of it is due to people decluttering their homes we have people like Marie Kongo telling people to get rid of stuff that doesn’t make them happy. It forces people to re-evaluate how they spend their money and they realize that they wasted their money on stuff that’s quite literally sitting in their closets collecting dust. So then they purge and the market becomes over saturated.