BEGINNER'S GUIDE TO BUYING AUTHENTIC DESIGNER BAGS ON CONSIGNMENTPosted on
When it comes to shopping consignment, there are three main things to keep in mind: Authenticity, Condition, and Pricing. To make sure you're landing your hands on the real deal, you need to be equipped with the right basic tools in these three areas to be able to discern if you're making the right investment. Read on to find out more.
- Always double-check a seller's reviews and buy from a reputable, trustworthy seller.
- Check if the seller offers proof of authenticity with every bag. This could be an Entrupy certificate, for example. It's always great to be proactive and get the item authenticated with a 3rd party authenticator pre-purchase if not. Most authenticators offer photo authentication and reputable sellers will have no problems providing these additional photos if needed.
- Self-authenticate without the help of a professional authenticator. Each bag's signature trademarks and details depend on the season and year of manufacture. In other words, there are details that will be missed no matter how much research you do. We always recommend getting a 3rd party opinion from a professional authenticator.
- As with most pre-owned bags, you should always expect some signs of wear – especially on the corners or handles of the bag and light scratches on the hardware. Bags that are lightly used and maintained in excellent condition can often look as good as new. It is reasonable to expect minor scuffs or hairline scratches on hardware that is only visible to the expert eye.
- Look at the photographs clearly and read the description of the bag; make sure to find out in detail if the bag has any damage. A well-looked-after designer bag can hold its resale value for longer.
Expect perfection. If minor signs of wear are an issue to you, shopping preloved may not be the best option for you. Keep in mind, though, that most of the time, you are getting the bag you want at a portion of its retail price – so you're still getting a great deal regardless.
- Be aware of the style, some bags do hold value better than others (refer to our general tips on pricing below for more information). On the other hand, if you happen to be shopping on a budget, you can consider buying one with a lower condition rating, sacrificing the inclusions or buying an older model.
- Find out if the seller you're looking at offers financing plans that will help make your purchase much more affordable. For example, some sellers offer a layaway service that allows you to break your purchase into smaller instalments to pay off over time.
General pricing tips:
- Certain popular and sought-after handbags like the Saint Laurent College or Givenchy Antigona tend to be great deals in the secondhand market, priced at half or more off their retail value. Also, keep in mind that they do not hold much value if you were to resell them one day.
- On the other hand, certain handbags tend to be found at high resale prices that aren't much lower than their retail price. Brands like Chanel and Hermes are more highly coveted and have long waiting lists, driving up demand and prices. These bags will make a great investment and will hold value.
- Exclusive limited edition designs, rare colours from past seasons, and hard-to-find pieces tend to resale close to it's original retail price – sometimes even higher, depending on rarity. An example of this is the Chanel Vintage Quilted Heart Bag. Keep in mind that these limited-edition bags also tend to hold their value over the years. So if you're thinking of future resell value, you could even turn a profit.
Remember, popular or rare bags tend to sell very quickly in the secondhand market – sometimes even within a few minutes upon being listed. Always act fast if you see the bag of your dreams available, but not before conducting your careful research about the three main points we covered above! Now that you're well equipped with the proper tips on shopping consignment, we hope you'll be much more confident in purchasing that dream bag of yours off the resale market.
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