By Hanniz Lam
I was having brunch with a bunch of friends one day when one of them mentioned how she was contemplating selling the designer bag that she had just bought.
She had been wanting a new bag and managed to get one which was in demand because of it’s “lucky” colour. She’s well aversed in buying luxury bags and usually sells them at a profit of about RM3k-5k. I was intrigued.
Designer bags that she buys usually come with a price tag of at least RM20k and because these bags are limited editions, the value goes up, just like some collectors items like antique cars especially when they are in mint condition.
Before you start buying luxury bags in excitement, read on to learn what makes a bag a “hot seller”.
1. How to price your luxury handbag for resale
It’s important to understand how much money you can potentially expect to earn before you buy a bag to resell later.
Look at trends
Check out what handbags are being sought after online. This is a good way to determine a starting point to sell your bag. Pricing your bag competitively will also contribute to how quickly you are able to sell it.
One mistake I made was selling my 15-year old vintage Hermes Picotin too cheap when it could have fetched thousands. I sold it at RM300+ as I was too lazy to check other sellers’ prices, and just listed a price I thought it was worth. – Pei Lin
Classic handbags and permanent collection styles go for more
When I was working in CHANEL, CHANEL’s 2.55 classic flap which came in a few sizes was always something the ladies would buy to use or give their daughters before going for the seasonal items. Other hot bags are the CHANEL Diana flap bag, CHANEL grand shopper tote, and CHANEL vintage square mini flap.
Other brands include the Hermes Birkin, the Hermes Kelly, and the Louis Vuitton Speedy, which are considered classic investment bags and are part of their permanent collections.
The prices of these have constantly always gone up and are never on sale. (The Hermes Birkin bag being the most expensive).
Pre-owned bags like these sometimes sell for the same price as a brand new bag and sometimes for much more depending on the condition and demand for the bag.
Determine the special features of your bag
Colour and rarity plays a big part when pricing your bag. When selling your bag, you should include the original box, dustbag, authenticity card, etc. and accessories that come with the bag e.g. straps, rain covers, pouches, etc.
Some bags are really hard to get and are highly sought after. CHANEL selects to sell their popular bags to their highest spending customer and some bags have long waiting lists.
When the Dior saddle bag was popular again, I noticed I was the only one selling it second hand with the tags, original receipts, SA namecard, care card, and dustbag. It made it easier for me to sell. I had random buyers/ resellers contacting me from Canada, Hong Kong, and even the Philippines to purchase it- Pei Lin
2. Where to sell your pre-owned designer handbag
You can sell via online consignment stores, or you can sell it on your own directly to the buyer. There are pros and cons to each method.
Selling your pre-owned handbag with designer consignment stores
|Shop handles everything
|Lower income than if you sold it yourself
|Cash upfront or fixed earning price
|May be slow to list bag or payout proceeds
Sellers usually sell at consignment stores because of its convenience. Once you have proven the authenticity of the bag (there are fakes that look so close to the real thing) to the store, they need to do the selling and you get your cash upfront.
The main con here is that you’ll typically get a much lower offer price for your handbag compared to if you were to sell it on your own. It’s like selling your car or house to an agent vs selling it to a direct buyer.
They have to factor in the costs to get the bag from you, to authenticate it, professionally photograph it, list it, and acquire the buyer.
Other cons might include how long it takes for them to list your bag and how long it takes to get the proceeds from your sale.
Online luxury consignment stores to sell used designer bags
Selling your designer bags directly to a buyer
|Earn maximum cash value on sale
|A lot more work and responsibility
|Can be selective with buyers
Of course when selling directly to a buyer, you can earn maximum income.
The main cons here are that you are taking on the full risk of selling your bags and you are responsible for its listing, shipping, and insurance if you’re not handing the bag over in person.
If you are not an experienced seller, this requires that you do some research to ensure that you list your bag in the right place with as much detail as possible and only sell to a trustworthy buyer.
You can sell directly in Facebook preloved branded bag groups, Carousell, and also using your own Instagram account.
Online selling platforms
I’m sure you’ve heard of eBay. This is where global buyers can bid for your product. BTS branded McDonald’s food packaging and sauces were a hit recently. You can find all sorts of memorabilia on eBay.
Selling on eBay can be a stressful process if you don’t know what you are doing. Just like selling on Lazada or Shopee, the key to success here is to be as descriptive as possible, post as many pictures as possible, be clear on shipping timelines and your sale policy.
Also, avoid selling to buyers with zero, very little, or negative feedback. Before you do sell to a buyer, even though their reviews are all positive, make sure you read through their feedback to see what people are saying about them.
Finally, you’ll want to take eBay and Paypal fees into consideration. A final value fee calculator can help you make this determination.
Pro tip: Avoid selling to people or luxury consignment stores with no reviews or negative reviews
When selling online, do your checks on who your buyer is to avoid getting scammed or having to deal with a difficult transaction. If the site lists buyer reviews, that would be good too. Like AirBnB stating the feedback on renters, some sites do this for buyers.
You paid a lot of money for your designer handbag and you don’t want to be losing out in the end.
3. Best practices to sell your designer handbags for cash
When it comes to selling your bag, your goal should be to find a great buyer (in other words, trustworthy and non-problematic) and get the best cash value from the sale.
Whether you’re selling one bag or many, here’s what you need to do.
Always keep the box, dustbag, receipt, and authenticity card for your bag when buying your bag and using it so when you decide to sell it, you can get more cash for it.
Keep your bag in good shape by using their stuffing, and wrap up the chain straps so they don’t scratch or leave marks on the bag- Pei Lin
Be very clear in your handbag descriptions
So you don’t have to repeat your answers to every potential buyer, be as detailed when describing you bag.
Take note of any scratches, marks, tarnishing, creasing, smells, and other kinds of wear. Even if your bag is brand new or barely used, you still want to inspect it carefully.
Everything you discover should be highlighted in the description you create for your bag. List things that make your luxury handbag special: Is it from a limited edition collection? Is it a rare colour or material? What year was your bag made? Where was it purchased? Is it still being made today? etc.
Share many photos of every angle of your handbag
You don’t have to have a professional camera for this. Just use your smartphone and display your bag in good natural lighting. Highlight the necessary details, like indications of wear, serial numbers, authenticity stamps, and codes, etc, with good clarity.
Take as many pictures as possible of both the inside and outside of the bag. This should also include any accessories that come with the handbag as well as photos of the box, dustbag, receipt, and authenticity card. Be sure to block out any personal information that might be visible on a receipt.
Pay for tracking and insurance
When you list your handbag for sale, depending on where and how you sell it, you need to make sure it gets there intact.
Most online designer consignment stores will send you prepaid packaging to ship your bag to them with. However, you want to make sure that when you are shipping your bag it has tracking tied to it and adequate insurance.
A lot of times, insurance on packages can be a bit pricey, but depending on how expensive your purse is, it’s a good idea to get it. This way you can have peace of mind while your handbag is on its way to its destination.
Take videos of your shipping process
This will show buyers that you have indeed sent the bag over. You don’t want a buyer accusing you that what was in the box was not what they paid for.
You can film your bag being packed and handed over to the shipping staff.
That’s it! Have you sold your luxury bags before? Tell us your experience below!