Being a luxury bag enthusiast or a first time buyer, the idea of investing in a bag with good resale value makes a lot of sense. The luxury bag market can be a tricky one to navigate if you don’t know what you’re looking for. There are so many options to choose from when it comes to material, design and exclusivity. Whether you’re a pro or a newbie, it can be exhausting to go over everything and determine if your bag will hold resale value. Which is why we decided to share some handy tricks with you to always consider when buying a luxury bag.
- Go for a familar name: Almost everyone on the planet is familiar with luxury labels like YSL, Gucci, Chanel and Hermés. They represent superior craftsmenship but also hold great goodwill. People recognize their names even if they don’t necessarily shop from them. This means the brand’s name holds a lot of value. Hero brands and cult pieces tend to remain in demand and make strong investments.
- Choose a neutral color: Instead of going for a bright piece, choose a more neutral tone. Like a classic black, brown, tan or gold for Hermés. They are more wearable and when shopping for luxury bags, people generally want a piece that blends well with most of their wardrobe. The same rule holds when they shop for preloved pieces.
- Limited edition pieces: Buying a limited edition piece means you have access to something that most people don’t, even if they have the means. This will result in people being interested in your bag when you put it up for resale. It’s a simple supply vs demand rule, which is why limited edition pieces can retain or fetch higher than retail prices.
We hope these pointers helped clarify things for you and you can choose your luxury bags more thoughtfully now. If you have a luxury bag that you want to sell, we’ve made the whole process easy for that too. Just fill out the form on our website and get in touch with us, we’ll handle the rest. Right now we’re sharing some classics below that we believe hold value even as preloved pieces so you can add a fabulous piece to your Fall/Winter wardrobe