What to Know When You're Reselling Your Designer Handbags

Hermes Capucine Red Dogon Duo Wallet

 

With many reminders about the benefits of cleaning out your closet and continual urgings to KonMari your life, living space and wardrobe, you're probably already on it. Just in case, let us remind you anyway: discard the clothes you don't wear and give them to charity. It'll make you feel better!

We beg of you though - don’t throw out your designer bags!  There are too many online resale options for making back some of the cash you spent on your bags in the first place. You can do it yourself or use a resale site like Love that Bag.

If you're unsure how to go about it, rest easy. We've put together a little beginner's guide. So get started on an afternoon of closet-cleaning and figuring out what you might be ready to part with, and you might have enough in the coffers for a new designer bag.

  1.  Figure Out What Your Bag is Worth

The best way to determine what a used bag should sell for is to see what other used bags like it have sold for in the recent past. One of the best ways to do that is to check what the bag, or a similar one, is being sold for on various resale sites. Doing this shouldn't be terribly difficult, just Google the bag's name and style. Just remember, the condition of your bag will affect the resale price significantly.

  1. What You Paid for a Bag Doesn't Necessarily Have Any Bearing on Its Resale Price

Once you find out what a fair resale price for your bag is, one of the quickest ways to frustrate yourself, and potential buyers, is to have unrealistically high expectations on what the bag is worth. If the style is dated, the bag is worn, or the brand doesn't inspire strong resale interest, what you paid for it when it was fresh and new is very unlikely to be anywhere near what you'll get back.

Try to put aside your feelings for the bag and look at it with a shopper's perspective. If you wanted a certain style and visit the resale market to get it cheaper, you definitely wouldn't pay retail prices, would you?

If a bag's recent resales are all priced far under what you'd be willing to accept for your bag, it might be best to send it back to your closet and wait. Even though there may be someone out there willing to pay above the bag's market value, having the bag sit on the market at too high a price will just mean prospective buyers will ignore it.

  1. Know Your Resale Venue Options

Luckily for closet-cleaners everywhere, there are more options to make some cash on your bags than ever before. 

You can do it yourself on eBay or Kijiji, two well known sites. Before you do this, consider if your bag will do better in front of a more focused group.

For example, if you're looking to sell a rather expensive Hermès, Chanel, Louis Vuitton, Dior or Celine, the client lists of a company like Love that Bag will help you zero in on the very specific group of global buyers who are willing to pay top dollar and won't expect a major discount just because the bag is pre-owned.

  1. Consider the Fees Associated with Resale

If you decide to use a resale site, there will be fees associated with using this service. Remember to factor in the fees that the company will take from the final sale price of your bag. This fee can vary from a few percentage points of the bag's price to half of your total sale price depending on the bag & the total number of bags you wish to sell. So find out beforehand.

Louis Vuitton Piment Orange Epi Alma BB

 

  1. Know What Matters for the Brand You're Selling

Every big brand has those little authenticity markers that experienced shoppers look for when buying on the resale market. These are often a bag's details--the interior tags, stitching, handle attachments, markings on the zipper pulls and heat stamping. Frequently, these tiny things are heavily scrutinized in order to assure a bag is genuine, and you'll likely get a better price for a bag that's depicted in big, clear, detailed photos (which we'll touch on in a moment). Again, if you are doing it yourself or using a reseller make sure you know or they know what they are doing.

After all, it makes sense that buyers are willing to pay more for a bag they're more confident is the real deal.

  1. Construct The Listing Carefully

If you're selling your bag yourself, what you write in your listing helps determine who will be able to find your bag. Not only is it important to include the name of the brand and the design itself, but using a couple descriptive terms will help buyers who aren't as well-versed in handbag jargon. For example, if you're selling a black Chanel Flap Bag, the words "black shoulder bag" might be just as important as the word "Flap". Often slight distinctions separate one model from the next and increase the marketability of a bag, so make sure to mention every small detail!

If you are looking to sell your bags through a reseller, check out how they do their listings – would you feel comfortable buying from them?

  1. Photography is Important

Whether you are selling yourself on eBay or using a reseller, it's always shocking to see a listing for an expensive bag that includes only small or blurry photos and few detailed shots. Or, even worse, only stock images that are easily recognizable as swiped from the internet or the original retailer. Nobody in their right mind would ever buy a bag represented that way, simply because they don't know for sure what they're getting.

In order to attract the most interest, make sure the listing for your bag features lots of large, well-focused, well-lit photos. A picture is worth a thousand words!

  1. Be Aware

Be absolutely comfortable with the reseller you have chosen to work with, if that's the route you've taken. It’s fine to shop around, but ultimately taking what seems to be the best deal might not really be the best choice. Make sure the reseller has a proven track record and invests time and resources in marketing and selling bags. Selling with someone who just has an Instagram account might not be the surest and fastest way to get a sale.

It's worth getting a little less, but using someone who knows what to do. You have a better chance of actually selling your bag.

If you're selling yourself, it's especially important to be vigilant in your interactions and trust your instincts. If a buyer asks you to move the transaction off the service or wants to use a payment processor you've never heard of, proceed with caution. Buyers worry about this kind of stuff a lot, but it's just as important to be vigilant as a seller, especially when handling such precious pieces.

Reselling your bags that you no longer need or use can be fulfilling in multiple ways. You make room in your closet, make some cash, find a happy new home for a bag that was maybe once your favorite and the new owner gets the bag they want at a great price. Everyone's a winner! As long as you keep these tips in mind, you'll be absolutely fine. Happy reselling!

Find out more about how to sell your designer bags with Love that Bag.



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