Spring is the time of year when many seek a fresh start. It’s a rebirth of sorts in more ways than one, so it’s not surprising that this is the time of year when cleaning out our closets is common and encouraged.
Many of us vowed to shop our own closet more in 2023, which means taking note of our inventory, and now that we’re already a quarter of the way through the year that possibly means you’ve realized that you own far too many black bags. Or maybe you found a dusty old Louis Vuitton bag in the corner of your closet that’s seen happier days. Maybe you’d rather trade those unused carries for an on-trend red bag or a new structured top handle.
To Sell or Not to Sell
While I used to painstakingly stress about selling bags. Wondering if I was making the right choice, I’ve learned to attach less emotion to selling them. Also, there really haven’t been many times (if any) that I’ve parted ways with a bag and really missed it. Also, thanks to the resale market, there is always a chance to repurchase a bag if that does happen. This year I’ve already begun to streamline. Though I added the Prada Cleo to my rotation earlier this year, I also sold my Louis Vuitton Speedy 30 in Damier Azur, which I am confident was the right choice.
In-Demand Brands
If you’re looking to sell, The RealReal released a new luxury resale report earlier this year, which offers an inside look at shifts in the secondary luxury market over the
past several months. As usual, the demand is there for the big luxury players like Hermès, Chanel, Gucci, and Louis Vuitton. However, prices have begun to level out and will likely continue to do so over the next few months.
“The ‘worn’ trend is about people appreciating quality items and refusing to let a few scratches get in the way of enjoying a Chanel or a Gucci bag.” -Becky Akinyode
As a potential recession looms, consumers are looking for more affordable options on the resale market, so don’t be afraid to let go of those bags that are in less than stellar condition. The RealReal cites them as “a gateway to luxury.” Additionally, the demand for trendier (and more affordable) luxury brands like Miu Miu, Bottega Veneta, Prada, and Dior has steadily grown and will continue to do so over the next few months, so you may want to hold on to that Jodie bag for a bit as demand increases.
Lastly, don’t forget to keep your eyes on Gucci, which has a major potential to see an increase in demand thanks to Alessandro Michele’s departure. When a creative director leaves, it often signals an uptick in demand as older pieces become more collectible. As always, the resale market can be fickle, and it’s a bit of a cat-and-mouse game, so don’t be afraid to shop around and see which resale site will give you the best deal.
Which bags, if any, are you looking to part with this spring?
I did some clean out last year. It’s eye-opening. I used to give them away but often not sure if it is imposing on the recipient. Wondering no more!
I parted ways with purses, wallets, sunglasses and shoes. There is no “profit”, but seeing them being liked by someone else makes me happy.
Brands sold fast are: Gucci, Fendi and Prada. Others take a bit longer but still sold. I am sure other top line names go fast too, but I never tried.
I guess I’m in the minority here, but… I wish I never sold a single one of my bags! I told my husband that I vow to never sell another bag again!! I bought a LV Alma BB in Rose Litchi Vernis when we visited Rome, and I sold it like a FOOL. I know I can just get another one on the resell market, but it will never be THAT bag.💔 And there’s several others. I don’t even care if they just sit on my display shelf and look pretty (meaning even if I don’t wear them for years), my bags are staying with me from now on!!!
I attempted to sell my first ever lv bag wilshire pm in rose pop vernis…i never thought i would do that…hasnt been used a long time its just sitting in my closet…this is the only bag i bought from the store (my other lvs are hand me down from my mom or bought used) complete with the whole package receipt (2009!) paper bag and box. Luckily it didnt sell so i got it back. Maybe its the universe preventing me from regretting my decision. Other than that sold 19 bags last year. I have 1 empty extra shelf in my closet now. I havent regretted any bag ive sold. I made a little extra cash since i sold them cheap so they will sell fast eventually went to my birkin fund.
I am with you on the special purchases. I have one particular Prada bought – by my husband -in its first retail store in Milan on a whim and I never got around to use much. But I am holding on to it forever. It always reminds us about that trip and sparks joy.
I have a black Prada bibliothèque bag that I never use and would like to sell. Best place to try and sell it??
Maybe try Fashionphile? I was looking for one and they only had 2 in stock. With less inventory sometimes they offer more money.
I have no affiliation with any site. Just chiming in. I use TheRealReal website because it seems no amount of effort is needed on my end. I cannot advise on payout etc though – I have no frame of reference, only used this one platform. Hope this helps a little.
I can’t sell anything at a half decent price that will recoup a decent rate of investment, and with the recession, people aren’t spending their money on bags or will scrounge and ask for the lowest price. Hold on to your bags and don’t make decisions you’ll regret later on! (As everything is reissued anyway)
I agree with you! Holding on to my bags for my daughter! Spent thousands on them, I want my daughter to have them and her daughter!
I have been selling the majority of my Lady Dior bags in various sizes, all the way to XL. I’m happy that the new owners love them.
I’m keeping my eyes open, but am not keen on any particular bag. I have a good collection of bags that cover most situations so there are no pressing gaps in my collection. And I can’t reconcile myself to the greedflation prices of many premium brand products. We’ve just paid off all our bills, inc taxes, and we like the idea of keeping the money in our accounts rather than spending on things we don’t need. If I do splurge on something, it will be for under 1k. The only totally unnecessary thing currently tempting me is a pair of Dior sneakers in that cool Paris map print.