Luxury Resale Shopping 101
With Fall upon us, it’s time to pack away the spring and summer duds, and bring out the leather jackets, heavy knits, and winter weather gear. Fall is the season of hot drinks, cold temps and layers galore; but it’s also the season when some of the best sales start popping up- Thanksgiving Day, Black Friday, Cyber Monday, and all of the following month’s holiday sales are right around the corner so now is the perfect time to prep! Whether you’re seeking a gift for someone special, or simply ready to clean out last year’s attire and refresh your wardrobe, consignment and resale shopping is a great way to go- if you know how to approach it, that is!
Don’t think of this as thrift store shopping- it’s actually far from it- shopping at luxury consignment and resale stores is not the place to find pilled knits, ironic sweaters, and faded clothing, rather last season’s collections, contemporary designers like Alexander Wang or Moschino and classic, unique luxury designs by those like Chanel, Hermes, or Louis Vuitton. While some pieces may show signs of wear, others may be in pristine condition with original retail tags still attached, however, they all have one thing in common: resale price tags! Finding luxury designer goods in great condition at up to 80% off retail prices is possible! Take advantage of this untapped shopping market with the right tips and tricks to get you going and help you along your resale journey.
1. Do Your Research: You’ll find that when it comes to handbags and accessories, the majority of luxury designers have date codes or authenticity stamps as a way of marking their territory. If you do your research on the types of markings to look for on a specific designer’s product, you’ll be able to identify if the item you’re interested in buying resale is the real deal or a big fake mistake!
2. Examine ALL Flaws: Or, if shopping online, make sure all flaws are stated in the product description before purchasing. A lot of times it’s easy to look at the price and think, “What a steal!” without examining or reading the details of the product’s condition. As a result, they may find some wear and tear after that impulse purchase, and therefore, unhappy with what they get.
3. Buy from a Credible Source: While places like eBay can be great sources for good deals, they can also be a perfect trap for vulnerable shoppers to get duped into buying replicas or fake product. Make sure that while on the hunt for that perfect piece, wherever you’re looking has multiple positive reviews, a return policy and an authenticity guarantee.
4. Become Familiar with Resale Values: Know that certain product types will increase in value over time, and others will decrease. Contemporary designer shoes or clothing, for example, usually decrease in value over time unless (excluding staple designs they continue to sell season after season). Luxury designers on the other hand, will typically increase in value over time, regardless of whether or not the product is new or used. A recent study on the Hermes Birkin bag showed that investing in this pricey piece is smarter than investing in the stock market with a continual increase in value year after year.
Which brings us to our last tip….
5. Buy Classic Styles: If investing in a designer handbag, classic styles like Hermes Birkin or Kelly Bags, Louis Vuitton Neverfull Totes, or Chanel Classic Flap or Boy Bags are designs that not only increase in value over time, but styles that are continually made season after season, and never go out of style.
Now- time to start shopping! A Second Chance Luxury Resale has a refined collection of luxury designer bags and contemporary designer clothing and shoes with new arrivals added to our website daily!