A Beginners Guide To Reselling Designer Handbags
Are you looking for ways to resell your designer handbag, and you don’t know where to start? Whether you are decluttering, in need of money, or just upgrading to a new luxury bag, reselling your designer bags for the first time can be challenging if you don’t know the process.
Well, you are in luck with this guide; we show you how to do it to ensure you get your bag’s worth.
Pricing your luxury bag
When determining the pricing of your bag for resale, you need to put a competitive price for it. Do some research to determine the cost of handbags in the same condition as yours. You can find several websites where you can check and compare. This is a great way to determine the price and how fast you can sell the bag.
Luxury bags like Chanel or the Hermes Birkin, the Louis Vuitton speedy, or the Hermes Kelly are classic investment bags and are a part of the designer’s permanent collections. This means that if you own such bags, they are an investment, and they never go on sale. Instead, the prices increase, so such bags are always in demand, and the pre-owned ones will earn you a pretty good amount. Sometimes they sell for the same price you got them when you bought them new and other times they can even sell for more than what you paid for them.
So if you are selling a seasonal bag, remember that unless it is trending, you may get a lower price for it.
Where to resell your designer bag
There are two options to sell your bag. You can sell your bag through an online consignment store, or you can sell it directly to the buyer. Both options have their advantages and disadvantages, so do your due diligence and settle on a choice you are most comfortable using.
An advantage of selling your luxury bag through an online consignment store is that you don’t have to go through the challenge and hassle of proving authenticity to buyers, setting the price, and dealing with buyers directly. The online store will do everything for you. They will authenticate the bag for you, ship it out and give you cash upfront or give you a price you may expect on the bag.
The only disadvantage of using online consignment stores is that they will quote a lower price than selling the bag yourself. And this is because they also have to consider shipping costs and make something for themselves.
On the other hand, selling directly means that you are likely to earn the maximum value on the sale of a luxury bag. You don’t have to pay reseller fees, so every dollar you make on the bag is yours.
The main disadvantage of selling directly to the buyer is that you take on the cost of insurance, shipping, and listing. With this being your first time, you will need to do more research to ensure you list the bags in the right places to sell them to a trustworthy buyer.
Ensure you have all the details about the bag
Different brands have authenticity markers that experienced shoppers will look for when shopping for designer bags on the resale market. So before putting up the bag for resale in the market, ensure you locate the authenticity card, receipt, and dust bag. Most of the time, the box that came with the bag may not be necessary, but if you saved it, it would help you get the most cash value possible and also helps support the authenticity of the bag.
If you lost the receipts or the authenticity card, don’t worry; you can still have the bag authenticated by professionals if need be. Still, bag enthusiasts can identify a legit bag when they see them, like some Louis Vuitton crossbody bags have the distinctive Louis Vuitton classic brand symbol.
Give a clear description of the bag.
Next, it’s time to get your bag ready for listing. This is for those who decide to sell the bag directly to the buyer. To properly present your bag and minimize questions and doubts, you need to be as descriptive as possible.
Go over your bag carefully, note all the marks, scratches, creasing, and any wear it may have. Even if your bag is barely used or still looks brand new, you still need to inspect it. You should include any marks or wear you discover in the description you create for your bag. Don’t forget to include the name of the brand and the design too. Ensure to use descriptive words that even buyers who aren’t familiar with handbag jargon will understand.
Check out how other resellers are doing their listings, then borrow a leaf from them.
Once you have created a listing with a clear description of your designer handbag, it’s time to take as many pictures as possible. Ensure you capture the bag from all angles. Remember to use good lighting to ensure your photos come out as clear as possible, highlighting all the bag’s details, including authenticity stamps, serial numbers, indications of wear, etc.
The pictures should also include images of the dust bag and the receipt if you have them, plus any other accessories. Remember to block out any personal info like your address that may be visible on the receipt.
Pay for insurance and tracking.
After listing your bag for sale, depending on how or where you sell, it is essential to ensure it gets to the buyer intact. Most online consignment stores will provide prepaid packaging for shipping your designer bag. However, it is vital to ensure that it has tracking tied to it and insurance when you send your bag.
Insurance packages can be pricey, but depending on how valuable and expensive your luxury bag is, it’s worth it. Doing this will ensure that you have peace of mind when your bag is shipped to the buyer.