The luxury secondhand market boom shows no signs of slowing down, and online luxury resale sites are drastically changing the way we shop for secondhand luxury goods. With the secondary market growing four times faster than the primary luxury market, it’s no surprise that we continue to see more and more brands/retailers joining the luxury resale market.
While we were all busy trimming our trees and wrapping one too many gifts, Net-a-Porter gave luxury lovers the biggest gift of all, the launch of its partnership with Reflaunt, which is a one-of-a-kind service that connects brands to the secondhand marketplace. The service launched in the US in December, and customers can select to have their items collected from their homes or choose to utilize the partnership’s drop-off service.
Net-a-Porter x Reflaunt will accept ready-to-wear, shoes, bags, and jewelry, with the expectation that items are in a saleable condition (i.e., dry cleaned and free of holes, marks, or significant alterations). The partnership will take care of the listing of your items, including photography, product description, and pricing. Items that are submitted are sold and listed on various channels, according to the Net-a-Porter x Reflaunt FAQ page. Once items sell, the customer can choose to either receive a cash payment via bank transfer or store credit to Net-a-Porter—with an added bonus amount of 10%. With so many options and places to sell your luxury goods, what are your thoughts on new initiatives like this?