With a growth rate five times higher (and ever-increasing) than the primary market, the secondhand market for luxury handbags is one of the buzziest topics in the fashion world. The resale boom of the pandemic has led to massive growth, now spanning 12 percent of market value for luxury goods.
In 2023, approximately $49.3 billion in secondhand luxury goods were sold worldwide, with global luxury resale players such as Vestiaire Collective, The RealReal, and Rebag leading the pack.
Even primary market retailers have begun to dip their toes in the pond, with e-tailers like Moda Operandi and FWRD launching resale initiatives like MODA ARCHIVE X REBAG and FWRD Renew, respectively.
While there’s no better time to be a consumer of secondhand luxury bags, there is also a lot of money to be made for sellers. The trick is knowing what (and when) to sell, as the market constantly changes and evolves.
If you’re looking to clean out your closet this spring and hope to make the best return, you’ll want to focus on specific brands and styles (sometimes, even colors). We looked at data from across the web and found 5 of the best bags to resell right now.
Hermès Kelly
Undeniably, terms like ‘old money style’ and ‘quiet luxury’ ruled fashion in 2023. And while Hermès has always been one of, if not the top, luxury players in the secondhand game, its popularity showed no signs of slowing this year.
The brand’s consistent price increases and scarcity model led to, on average, a retention value of 115% for its cornerstone bags (i.e., the Birkin, Kelly, Evelyne, Constance).
Fashion’s return to more understated pieces and a boom in demand for fair-condition items make it a great time to sell a Hermès Kelly bag – of any size or condition. Notably, the Kelly Pochette saw a 93% increase in value since 2022.
Vintage Fendi Baguette
The great Y2K resurgence of the early 2020s shows no signs of waning, with demand for vintage bags up by 300% since 2020. That demand is largely led by Gen Z, who spent 40% more on vintage bags last year.
Fendi, as a whole, saw an increase in both its interest and retention value, with search values increasing. However, the Baguette, especially vintage styles like the Mama Forever, remains on the most-wanted list.
If you own an original Fendi Baguette from the 2000s, you’ll recoup the retail price and then some.
Louis Vuitton Neverfull
When it comes to Louis Vuitton, the brand’s Monogram canvas styles remain some of the most highly sought-after items on the resale market year after year. On average, its popular Monogram styles retain just over 100% of their value, with styles like the Pochette Accessoires, Speedy, and Neverfull leading the way.
While the Neverfull has been a brand staple since 2007, last year news broke that the brand would move towards in-store sales only of its evergreen Neverfull styles using a waitlist model.
Rumor has it that this was to help control sales of the ubiquitous style and help instill a sense of exclusivity. This scarcity continues to drive demand on the resale market.
Prada Re-Edition 2000
While Prada typically does not retain as much value as its competitors, there is demand in the secondary market for Prada, and this year, both demand and value increased.
While Gen Z has been a big driver of vintage bags, Millennials, too, are searching for fair-condition bags, and Prada’s bags, particularly nylon, are some of the most coveted.
The Prada Re-Edition is a riff on a vintage nylon style from the early aughts. Retaining over 70% of its retail value, it exceeds the average of other Prada bags, which tend to be around 60%. With the Barbie boom this year, the pink Re-Edition 2000 retained even more value, an average of 81%!
Chanel 22
With its bi-annual price increases and shifting business model, Chanel continues to be a good investment, with many of its cornerstone bags retaining close to 100% of their retail value. Of course, limited-edition colorways and bags in like-new condition can well exceed that number.
Though the Classic Flap remains one of the most searched handbags in the entire resale market, other bags are quickly becoming just as sought after. While newer to the scene, the Chanel 22, which offers a more relaxed, cool-girl appeal, continues to perform well, hanging on to more than 100% of its retail value across the board.
Chanel continues to perform in terms of investment value, exceeding expectations and proving to be one of the most coveted luxury handbag brands despite consumers’ hesitation.
sources: Rebag 2023 Clair Report, Fashionphile 2023 Resale Report, and The RealReal 2023 Resale Report
