Designer handbags are one of the most sought-after accessories in the world of high-end fashion. Often considered a status symbol due to their premium price and exceptional quality of craftsmanship, these handbags can often recoup a significant amount of their original purchase price if kept in good condition.
This can be useful if you have a bag in your collection that does not see much use, as you can sell your item for a valuable amount. Of course, the most desired brands are the ones that are most likely to sell, as they are most common in holding their value.
In this article, we look at everything you need to know about selling your designer handbags for a handsome profit!
What Branded Bags And Purses Are Worth Buying?
The popularity of the manufacturing company determines the value of a handbag. The brands most likely to fetch a higher value are the ones that manufacture a limited number of pieces for each collection.
These are the brands that are most likely to retain much of their original value, as their brand-names carry substantial weight within the fashion industry.
Do Designer Bags Lose Value?
When spending a considerable amount of money on an item, it is only natural to be curious about its potential resale value, even if you have no intention of selling it soon. Designer handbags are one such item.
Whether or not the bag will retain its monetary value after purchase is mainly dependent on its brand. For example, companies such as Chanel, Hermès, and Louis Vuitton produce high-quality bags that hold their value through the strength of their name.
The style of the particular bag in question can also have an impact on its value however, as some styles are considered more valuable than others. Some of the other factors to consider are the collection, condition of the bag itself, and whether it has been damaged by external sources or degraded over time. Usually, the sooner you sell a designer handbag, the better.
Can I Sell My Used Luxury Handbag?
A luxury handbag can prove to be an asset in times of need, as they are known to recoup much of their value. It can also be an excellent option to dispose of an extra item in your collection. Benefiting from the services of a professional buyer or pawn establishment is an excellent way to sell your used Luxury handbag easily and quickly.
Why Might Designer Bags Not Sell On eBay?
eBay is a well-known eCommerce platform mainly used for the buying and selling of used goods. On the surface, this might seem like the go-to place to list your luxury bag; however, this is not the case!
eBay’s market for designer handbags is highly competitive and comes with its own host of issues. These include authentication requirements and a high rate of people returning previously bought items. The sheer vastness of the marketplace makes it extremely difficult for your product to stand out, and it may take months for you to make the sale finally.
It is better to partner with an authentic establishment that specialises in the resale of designer handbags as they can get you a better premium and help you find interested buyers more quickly.
Where To Sell My Designer Handbags?
As you may already know, luxury items such as designer bags should not be sold using traditional channels. This is because the average buyer may not be aware of the true worth of your product, hence offering a lower value.
To avoid this hassle, alternative methods of selling such as online auctions, professional buyers, or pawnshops should be explored. It is worth doing your research to find the right buyer for your handbag, to ensure that you can secure the largest possible profit margin. Let’s look at these options in more detail.
Choosing the Right Establishment
Professional buyers are an excellent option to consider, as they are usually experienced in the appraisal system, and this helps them set a better and more exact value of your product. This gives them an edge over the other methods as their entire business is based around making it faster and easier for you to sell your used luxury items specifically. However, they do charge a small fee to conduct the transaction.
This differs from the approaches of online auctions and pawnshops, as they are designed to deal with a massive variety of different items. This streamlined approach to the transaction makes professional buyers a good option, as they are also able to pay a lump sum of cash instantly, making the process quicker for all parties.
Do Pawnshops Take Designer Bags?
Most pawnshops are only interested in the more popular and well-known brands that they can quickly sell for a profit. They are not mostly interested in the actual value of the bag, just how much it’s worth at face value. If you are looking to pawn off a well-known brand, most pawnshops should accommodate you.
A significant benefit of choosing a pawnshop is that these establishments usually have a lot of cash available on hand and can offer you the entire payment upfront.
Pawning or Selling, Which is Better?
There are some advantages to selling your handbag at a pawn shop. For example, the whole process is made much more easy and convenient due to the professional appraisers and trained staff that can quickly determine the true market value of your designer handbag. This will help you get a much fairer price and most professional buyers can provide lumpsum cash payments upfront.
How Do Pawnbrokers Determine Value?
Pawnbrokers and other professional buyers have their own trained professional appraisers ready to cut down the hassle of the process. They also provide the option of buyback for your product. The professional buyers can determine the value of your bag based on its condition, its popularity, the demand across the market for the specific brand, and various other factors that can help get the best value for your luxury asset.
Designer handbags are, without a doubt, a great fashion accessory. Not only are they stylish and functionally sound, but they can also prove to be a good investment.
Why not make some quick cash and sell your treasured designer handbag at a reputable professional buyer! The best part is that you also make someone else’s day, as they now have the opportunity to own an item of premium quality.
The benefit goes both ways, as you should also keep your eyes open for the next premium handbag that makes its way to the market!