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To Consign or Not to Consign

How to win in the game of reselling...

How to win in the game of reselling…

That, my friends, is a question, NOT a statement.

I recently began the process of what I’d like to petition as fall cleaning because why should we wait until spring to organize ourselves and our closets? IMHO, closet cleanouts should happen twice yearly, but that’s a story for a different day.

Now, back to the topic at hand. My collection has reached well into the double digits, and personally, I’ve found keeping the number of bags I own at or around a dozen makes the most sense for me.

Once I hit 15, something’s gotta go.

There are a few reasons why I limit the number of bags in my collection. One: space. Living in NYC simply means I do not have enough space to properly store many bags. Additionally, I find that I actually use each bag I own enough throughout the year when I only have a dozen or so in my collection.

Of course, a couple of those bags are not great for daily wear, and while some get more use than others, keeping my collection fairly trim is what works best for me. Because I’m consistently adding new bags into my rotation, I try to sell at least one bag a year when I do a closet clean.

To Do the Work or To Send It Off?

I’ve begun the process of deciding what to keep and what to sell. While I’m not quite sure which bag(s) I will part with, I have begun exploring the vast number of selling options. With the resale market growing rapidly, there are more reselling options than ever before (stay tuned for a resellers guide!).

Do you do the leg work yourself and sell via eBay or Poshmark, or do you sacrifice some profits to send to one of the top resale sites like Fashionphile, Rebag, or The RealReal? While The RealReal works on consignment, and the process is long, Fashionphile and Rebag will pay you outright.

Get Paid Out or Consign?

However, Rebag recently added a consignment option to their business model, and Fashionphile also offers the choice to consign. With so many options and the goal being to profit the most, how do you win in the reselling game?

Last year, I sold an old Chloé Marcie Bag, and after getting quotes from Rebag and Fashionphile, I riskily decided to consign with The RealReal. However, after the bag was marked down and further discounted during the holiday shopping months, I made far less than the higher of the two payout quotes I received.

This left me feeling rather defeated. As I begin the selling process this year, I have no idea where to begin. Do you prefer to consign or opt to get paid out?

Let’s talk!

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Michelle
Michelle
8 months ago

I have found that The RealReal’s benefit for sellers has gone down in the last few years. With all the price cuts for buyers, I don’t think it’s work it anymore.

Tiffany
Tiffany
8 months ago

For premium designer bags, I have had positive experiences selling with Fashionphile, and I always opt for the pay out rather than consignment. For more mid-range bags, I tend to use Poshmark for selling. The net cash seems to be better that way, brand depending, of course.

Simbadog8
Simbadog8
8 months ago
Reply to  Tiffany

i have had great success w Fashionphile. And I just drive over to N-M and drop them off. It is sooo easy.

Mara
Mara
8 months ago

I stalked out Ann’s Fabulous Finds (AFF) before I pulled the trigger & sent them a Birkin. While it took awhile to sell, and then another 14 days to receive payment, the wait was worth it. I made a profit of $6K. So, I sent in a LV novelty bag & profited $4K. When I submitted the same bags to FP I was offered the price I paid for my Birkin & $2K less for what I paid for my LV.

Tiffany
Tiffany
8 months ago
Reply to  Mara

I’ve never bought or sold with AFF, but always consider them a trustworthy option.

Mara
Mara
8 months ago
Reply to  Tiffany

Yes, they are. They are a smaller company, but very reputable. I’ve had only positive experiences selling & buying with them.

Kim
Kim
7 months ago

I recently submitted a request for a resale on a luxury bag that I thought would hold it’s value. I received a quote of about 1/3 of it’s retail price. The bag has never been used. Has anyone seen the same?

Megan
Megan
7 months ago

I am working on a hopeful solve to this problem! Mynt Condition. Please check it out (it’s mynt condition dot co) would love any feedback while it’s in beta!