Introducing a new handbag into your wardrobe is one of the most joyful experiences you can have and one that all bag lovers always dream about.
While luxury handbags are often the most expensive items in your wardrobe, you can continue to build your collection by opting for pre-loved designer handbags that are often sold for up to 70% less than the original price. Not to mention that you can also opt to sell designer bags that you already have in your wardrobe to make space (and save money) for new ones.
In fact, opting to buy and sell designer handbags is one of the most effective strategies for creating the closet of your dreams.
If this is the year when you’ll significantly enhance your luxury handbag collection, keep reading to learn the dos and don’ts of buying and selling designer handbags.
DO: Plenty of research.
Before you buy or sell a designer handbag, you first want to make sure you are conducting the necessary research. Before you decide to purchase a pre-loved luxury handbag, make sure you have read plenty of reviews of the item you are interested in, as this will give you a better idea of its longevity and functionality.
For those who don’t currently have a specific bag in mind, start by researching different styles, brands, and materials. By opening yourself up to the various options on the market, you will discover which ones are right for you.
If you are looking to sell a bag, research what other similar bags have recently sold for in order to get an idea of what your resale range may be. In some instances, you may not be happy with the price range you see. If this is the case, you might consider it best to put it back in your closet and wait for that specific style and brand to come into fashion.
It is highly suggested that you partner with a leading marketplace that specialises in selling pre-loved luxury bags to ensure that you get the highest price possible.
DON’T: Purchase designer handbags you don’t love.
In order to curate your dream handbag collection, you want to avoid purchasing designer handbags that aren’t exactly what you are looking for and instead be patient until the perfect one comes along.
After all, you want to ensure that you love your new bag and that you are actually going to use it. While that may mean you have to spend more money, it will be worth it when you have a bag you use regularly, and that makes you feel your best when you carry it.
Even if it seems like a good deal, don’t make an investment unless you are madly in love with it – particularly if it is one of your first designer bags. Instead, save your money and wait patiently for your dream secondhand bag. You should never be settling when it comes to bags (and all other aspects of life).
DO: Consider the resale value.
When purchasing luxury handbags, you also want to consider the resale value of the item. While you want to buy bags that you intend to wear forever, the truth is that handbags are investment pieces and can be purchased and sold throughout your style journey.
Once you own a luxury handbag, there are a few steps you can take to maximise their resale value. First and foremost, the most important thing you can do is to keep your bag in the best condition possible.
The better the condition of your bag, the more money you will make. For example, an individual can usually sell a classic Chanel or Hermès bag in very good condition for around 80 per cent of its original price. In comparison, the same styles in pristine condition are often sold for 120 per cent of the original price.
Thus, it is crucial to recognise that the value of luxury handbags fluctuates based on trends; however, some designers and styles not only maintain their resale value but increase it over time.
These include the Hermès Birkin, the Hermès Kelly, the Chanel Classic Flap Bag, the Chanel Boy Bag, and the Louis Vuitton Neverfull. You can never go wrong with investing in one of these bags.
DON’T: Endeavour to buy or sell luxury designer bags on your own.
Whether you are purchasing your first secondhand luxury designer bag or selling your tenth, you don’t want to do the process independently. Instead, your best option is to work with a leading marketplace that specialises in the buying, selling, and swapping of pre-loved luxury bags.
By working with a trusted business, such as Luxury Promise, you can be assured that you are avoiding unscrupulous sellers or buyers, and that your purchase, sale, or swap is trustworthy and authentic.
Our goal is to support the global community in the movement towards sustainable shopping and help shoppers curate the luxury pre-loved handbag collection of their dreams.
DO: Consider trading handbags.
Opting to trade designer handbags is one of the best ways to bring a new luxury piece into your wardrobe, plus everyone involved gets a new bag they love!
Similar to when you sell through a luxury marketplace, when you trade your luxury handbags, you either post the item to us or bring it into the shop. From there, experts will inspect and authenticate the bag and then provide you with a final offer.
Next, you get to decide which bag from the collection you want (which is usually the most challenging part of the process!). Then, you can take your new-to-you bag home and introduce it to the rest of your wardrobe, feeling good that your previous bag is also going to a new loving home.
Have you ever bought, sold, or swapped a pre-loved handbag? If so, what was your experience? Any additional tips to add to this list? If not, is it something you are interested in doing this year? Which bag or designer would be at the top of your wishlist?
Let us know your thoughts and any other insights you have in the comments below!
