Reader Question: Selling Designer Items

Today I will be answering a reader question that I’ve received quite a few times, about selling used (or new) designer items. I’m sure we’ve all regretted a purchase before (if you haven’t, then you are a style genius or perhaps a hoarder). And I’m sure we’ve all given away, or thrown away, unwanted items. When the item in question is designer however, and cost quite a bit more than others in your closet, you might have the same question as Amanda, below.

Amanda: Where do you sell your designer items? I have thought of eBay but am afraid of being scammed. Can you recommend a few places where I could sell some older Louis Vuitton and Dior?

Below, I will share my own personal experience with five different routes of getting rid of designer goods.

1. eBay. This is probably the most obvious route.

Pros:  Mainly – money and control. Many times you will get more for your items. My own personal experience has reflected this – I’ve received quotes from consignment shops before, then sold by myself on eBay and in the end pocketed more.

Cons?: Fraud. Horror stories abound of buyers claiming items are fake and then swapping them, or claiming that items were never received, and it goes on and on. It can be an incredibly aggravating experience for even a small sale…can you imagine if a Birkin were on the line?

There are definitely steps one can take to mitigate their risk when selling, but I’ve made the decision that that the potential stress isn’t worth it and thus no longer sell on eBay.

2. Yoogi’s Closet. Yoogi’s would be suggestion for anyone who is looking for a quick payout, and doesn’t need to have the absolute highest price (though Yoogi’s sometimes offers that. I’ve used Yoogi’s in the past for both higher ticket and smaller designer items, and using both the direct sell (pay out right away), or consignment options (pay after the item sells).

Pros: The easiest system by far for receiving a quote for your item, and then actually shipping it in. Yoogi’s takes care of it all through their own interface and you can check the status of your quote and shipment anytime. Also quite flexible, with a direct payout option. And, they pay through Paypal so no waiting for a check in the mail.

Cons: I’ve found that the quotes offered by Yoogi’s can vary quite a bit. I’d always check here since its such an easy process…but I might check around other areas too, especially for very high ticket items. Otherwise, they’re one of my favorites.

3. Ann’s Fabulous Finds. One of my favorite places largely because of their great service. I love to browse the site too – the best place to find Van Cleef and Hermes goodies!

Pros:  The whole Ann’s team has wonderful customer service – both on the seller and buyer side. They will work with you through the whole process of shipping your items to them, valuation of them, and ultimately receiving payment. Their consignment payout is often higher than Yoogi’s as well, especially for more expensive  items. If you have an in demand Hermes bag, Ann’s might be the best place for you.

Cons: No direct payment option (such as with Yoogi’s), and payment is made with a mailed check, which adds time, plus they only pay twice a month, and after a ten days have passed on a sale. If you opt for a “layaway” option for your item, that can tack on an additional 30-60 days to your payment…not to mention if a buyer returns the item, the process starts all over again. In the past, I’ve opted for “no layaway” for my items and have usually be paid within ~30 days total.

4. Donation. OK this isn’t exactly selling, but I end up donating the majority of my items, designer or not. Lately I’ve been sending them all to The Fashion Project (my referral link), which I’d highly recommend. When you sign up, they send you a package in the mail with pre-paid bags to send your items back to them in. Proceeds from the sale of your items go to the charity of your choice. Plus, for every five qualifying items, you receive a $40 Nordstrom gift card. And at year’s end, you’ll receive a summary of your donations for tax deductions. Wonderful eh?

What do you all do with your unwanted designer goods? If you have any other suggestions and experiences, please share!