Sale PSA: A great zebra print midi dress from Topshop, now under $50, a pretty tiered cotton dress from Rebecca Taylor, now under $240 (I also love this prairie dress but my husband is 100% against), and sleek black buckle shorts from ALC, now under $200
It wasn’t until I started this post that I realized I’ve been writing about slowing luxury resale prices for four years! Wow! I wrote about it in 2015, 2017, and now I’m updating again, two years later.
It’s funny because obviously luxury itself isn’t hurting – LVMH is doing great, Hermes, Kering, all the same story (I would love to see Celine sales broken out). Yet in the last four years (can’t believe it’s been that long) it seems that luxury resale prices have stagnated or even gone down further. I think a lot of that has to do with a lot more education/a greater number of sites (The Real Real, Fashionphile) to sell your luxury goods – as well as greater overall supply, as evidenced by all the robust luxury conglomerate sales.
Anyway – as I mentioned earlier, I do an occasional culling of my closet, and, when I can, like to snap up a deal too! Here are some trends I’ve noticed on the resale side/tips –
Prices have hit a ceiling. Even on really rare, hard to find items (Hermes special orders, etc). I don’t think I’ve seen prices move on even the really coveted, in demand items, for at least a year or more. So if you’re looking for something and the price is high, you don’t have to snap it up right away -you can wait and see if you can find something less expensive. And sometimes you can even negotiate! That said, if you are on the selling side – even if you have a super in demand item, it can be hard to get a premium. Especially if you purchased retail in the US + sales tax and all that jazz.
Supply is greater than ever. Seriously! I know I touched on this above but if there’s an item you’re waiting for on the resale market…you should wait. Everything eventually appears and often multiples of them. It kind of makes the “we never get this, soooo one of a kind” whisper of the sales associate mean less but I much prefer the lessening of the pressure to buy now now now, and like having the time to wait and think about my purchases.
If you’re selling…you must be realistic. Or prepare to be disappointed. Seriously. The days when Chanel used to do a huge price hike every year and as long as you bought a few years back you’d make back your money are totally over. I feel like buying luxury from the store is like buying a new car now…there’s a certain amount of depreciation off the lot. Not necessarily a bad thing…I think it helps us all be a little more thoughtful when purchasing.
And because I couldn’t help it – some great deals I’ve noticed, around the web:
Hermes Mini Plume, $3215. I love this bag so much. I’ve considered buying it several times but I already have my mini Bolide. But I love this design and as a bonus the handles bend down, unlike the Bolide’s. There’s also a Vert Vertigo (also a great color) for even CHEAPER.
Like the Plume above, the Bolide is one of those Hermes bags that isn’t super hot and thus has great prices on the resale market. This chic Canopee Bolide 31 with gold hardware is $3800, a steal, though if you don’t like the color/hardware there are tons more to choose from – this Ultraviolet (drool), this Etoupe (I selfishly considered not posting and buying myself but I really do not need), and Rouge Casaque (it says Garance but I think it’s Casaque? Anyone know)?
Hermes 18k Rose Gold Farandole earrings, $900. More than 50% off. Love these, a classic earring, and they’ve been on Fashionphile FOREVER. I find that Hermes fine jewelry has really fair (as in, not so great for the seller) resale prices. Partially because the house’s #1 specialty is leather, partially because quite a few fine jewelry purchases I believe are made to help people’s “customer profiles”. Anyway. I think I probably know too much about all of this.
Have you been buying resale? Anything you’ve noticed on the resale side, buying or selling?
4 Comments
Anonymous
August 12, 2019 at 9:30 pmHi Kat,
On a separate note, have you tried renting dresses on this website? https://www.renttherunway.com/shop/designers/tory_burch/meadow_folly_dress
I noticed a lot of the dresses you like or post that are $300 plus are available for rent and can spare you the trouble of going through resellers when you tire of the dress. Have you considered going this route to wear these pretty dresses for vacation or some special occasion?
I remember some websites offer the same services for purses. This way you don’t have to worry about selling it after you fall out of love with it or you really find out if out if the purse is worth buying and keeping.
Jaime
August 13, 2019 at 2:19 pmYou are probably talking about Bag, Borrow, or Steal.
Katherine
August 13, 2019 at 8:58 pmI haven’t used it yet! I have thought about it but it’s almost more fun for me right now just to buy on sale or through TRR. But I have heard great things about RTR and it’s on my list!
Diane W
August 13, 2019 at 10:46 pmI have bought several bags resale over the years. A few were ‘special treatment’ bags that were produced prior to my buying that brand (BV). I’ll also purchase currently available styles/colors if I find them on a site I trust but can’t find my particular choice in the store. This has happened at Hermes in several of their stores. To clarify, I was not looking for a B/K/C. I was looking for the Octogone clutch and the Baton De Craie clutch. (I understand the H process, and have connected with an excellent SA.) But at 69, the clock is ticking….
I now find myself (once again) with a bulging closet and am in the process of thinning things out. My faux granddaughter occasionally shops my bag shelves, but some of the styles I love aren’t her style, so there are still some pieces to be released into the wild.
So, I guess what goes around, comes around…..one way or another.