If you would like to know how to make money by selling designer handbags, keep reading! I was once quite wealthy due to my collection of expensive Chanel handbags before downsizing my collection. A collection I assembled after saving over $100,000.
I got to the point where I got ahead of myself with my spending and failed to save as much as I should have. I was buying bags that I wasn’t using. But fortunately for me, I improved my performance substantially and went down to a much lower level.
My shopping trips taught me many lessons. These days, I’m a much more conservative handbag shopper. I have a small but well-used collection, and I’ve also bought several pre-owned ones (or as I like to call them, rare secondhand) from online consignment shops in excellent condition.
I have a lot of experience with buying and selling used designer handbags. Whether you’re looking to sell your own collection of high-end bags or just one, you want to make sure you’re getting the most for it. This requires more work before submitting your pre-owned handbag.
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There are three important steps.
Now let’s get started.
1. How to price your luxury handbag for resale
It is important to price your bags for resale competitively in order to get money in hand as soon as possible. Even if you intend to consign your goods with a retailer, it’s vital to understand how much you can expect to make.
Look at trends
This is a good way to determine how much you should initially charge your bags for. Competitive pricing will also lead to how quickly you are able to sell them.
Classic handbags and permanent collection styles go for more
Bags like the Chanel classic flap, the Birkin bag from Hermes, the Kelly bag from Hermes, and the Louis Vuitton Speedy, for example, are regarded as classic investment bags and are part of their respective collections.
This standing means that these handbags have never been on sale, instead, the asking prices have always risen. (The HermÃ¨s Birkin bag being the most expensive).
For that reason, luxury bags like these are in great demand, and pre-owned models of them often sell for a high price. Sometimes they sell for the same price as a new bag and sometimes for much more depending on the condition and demand for the bag.
When promoting a handbag that is seasonally popular, remember not to overprice it if it’s out of season. Investment bags are not necessarily good investments.
Determine the special features of your bag
You should also consider any available packaging (box, dustbag, authenticity card, etc.) and accessorys that come along with the bag (e.g. a keychain or bracelet) when pricing your used handbag. blankets, ponchos, hammocks, etc.) are used to bundle supplies.
Several factors determine the price of your tote bag, such as its dimensions and material. Be sure to review your options carefully before committing to a purchase price.
2. Where to sell your pre-owned designer handbag
You can sell your designer bags through online consignment stores or directly to the buyer. Each option has its own advantages and disadvantages.
Selling your pre-owned handbag with designer consignment stores
There are many advantages to selling your used designer bag at a consignment store. The bags don’t need to be authenticated, their price set, sales transactions managed, or returns handled. The upscale consignment stores will carry out everything for you.
They typically send you a shipping label, validate your luggage, pay you immediately or at least offer you a set price on how much you’ll make when they sell your item. It is a very convenient and effortless way to sell your bag.
The drawback is that you’ll often get a lesser selling price for your handbag if you sell it on consignment rather than selling it yourself. This is because the consignment stores have to turn around and sell your bag and obtain a profit in doing so.
The volunteers have to factor in the costs to get the bags from you, to validate it, professionally photograph it, list it, and acquire the buyer.
Another drawback is that other distributors often take more time to list and sell your items, and it can take weeks or even months to receive your money.
Online luxury consignment stores to sell used designer bags
Fashionphile is a popular tourist site with Instagram influencers. It’s also one of my favorites because of the great reputation they have and the great selection.
They generally respond to offers within a few days and their offers are indicative of how in-demand a bag is. They will also accept out-of-style/seasonal luxury handbags but do not expect a great deal.
(Note: Fashionphile is a brand we recommend and the link above is an affiliate link. If you make a purchase using this link we may receive a small commission.)
The Real Real is another popular luxury fashion and accessories store. Their website contains thousands of luxury items.
You can send them your containers for inspection and quotes if you are in their service area and they will send a representative to your home to collect and inspect your items. Items will be shipped to their warehouse for additional inspection and authentication before they are sent on to you.
Other shopping platforms with respectable reviews but fewer items than Yoogi’s Closet and Ann’s Fabulous Finds include the promotional materials for these products.
Selling your designer bags directly to a buyer
For obvious reasons, selling to an individual is the better option when selling a handbag. The amount of money you earn goes directly into your own pocket; you do not have to pay a consignor or reseller charge, and practically every penny you make on the bag goes directly to your wallet.
If you are interested in being very selective about who you sell your bag to, selling directly to buyers allows you to know exactly who receives it.
The major drawbacks are that you must sell your first aid kits and you are responsible for its shipping, listing, and insurance.
If you are not an experienced vendor, this requires that you do some research to ensure that you are listed accurately and only to a trusted buyer.
Online selling platforms
eBay is the most popular online sales platform in the world. While selling on eBay can be difficult if you are not prepared, it is possible to trade on the platform with relative ease. The key to success here is to be as detailed as possible, post as many images as possible, be upfront about delivery times and shipping policies, and keep your audience informed.
Also, do not sell to sellers with negative, low, or no feedback. Before selling to a buyer, even with their positive reviews, make sure you read their feedback to see what people are saying about them.
Following these expenses, you will need to incorporate eBay and Paypal fees. A final price calculator can help you determine this cost component.
Similar to eBay, Tradesy is a popular e-commerce platform that requires you to be as descriptive as possible when selling items.
One thing that is not available on Tradesy is customer reviews or feedback, so if someone purchases your handbag, you are taking a risk. And if they decide to return it, it could be difficult for you to get your item back as they have to send it to Tradesy first.
One way to get past this is to look at the number of purchases a trader has made on Tradesy and also ask questions on forums like the Purse Forum about traders.
While Poshmark does not feature a huge selection of designer goods, it is still possible to sell your designer handbag here. Again, provide as much detail as possible, read buyer feedback, and know Poshmark’s return policy if a buyer decides to return a purchase.
Pro tip: Avoid selling to people or luxury consignment stores with no reviews or negative reviews
One thing you should keep in mind when selling your bags is to be careful about who you purchase from. You don’t want to be scammed or have to get a negative deal.
My suggestion for avoiding scams is to never sell a designer handbag to individuals who don’t have feedback and to disregard stores with no feedback or unfavorable reviews. While not every store is dishonest and while not every consumer has a negative experience, you should still be cautious. Put your own safety first.
You paid a lot of money for your designer handbag, and during the sale process, you want to make sure you have an easy transaction. Research your prospective purchases online and discuss questions with experienced purse experts in reputable forums, such as Purse Forum.
3. Best practices to sell your designer handbags for cash
It is important to ensure you are selling your bag for a good price. Unfortunately, the internet is full of phony sellers who will do anything to scam you. Your goal is to locate a great buyer (a trustworthy and not problematic person) and obtain the greatest possible price from the sale.
Here’s what to do if you’re selling one bag of items or one thousand.
Locate the box, dust bag, receipt, and authenticity card for your bag
At first glance, the shipping that comes with a fashionable handbag, while often quite lovely, might seem unimportant. However, when selling your bag, the packing must be intact.
Not only does this ensure that you receive the greatest profit possible, but it also helps to support the authenticity of your bag.
Don’t have these items? How popular is your bag? The essence of the sale is the bag. While authenticity cards and receipts help, your backpack can still be authenticated without them (in a professional manner if necessary).
Be very clear in your handbag descriptions
Next, you should assemble your handbag for display. You must make your luxury goods as detailed as possible in order to reduce the number of questions you receive or problems you encounter down the line.
This means thoroughly inspecting your purse for anything that might damage it, such as scratches, dents, stains, tears, odors, and dirt. Even if your bag is new or barely used, you should inspect it carefully.
Be sure to fully describe everything in the description you create for your bag. You should also include any information that makes your luxury handbag special, such as whether it is a limited edition item, an unusual color, or a unique type of leather. What made yours different from any other bags of this type that you have seen? Where and when was it obtained? Was it discontinued or does it continue to be manufactured?
Share tons of photos of every angle of your handbag
Once you’ve completed your detailed description, it’s time to prepare your investment bag camera. Most smartphones these days have excellent cameras on board, so if that is all you have, that will do just fine.
Make sure you use good natural lighting and take clear photos of the required details, such as signs of wear and tear, serial numbers, authenticity stamps, and codes and QR codes, using excellent clarity.
Take as many pictures as possible of the inside and outside of the bag. This also includes any accessories that come with the bag and pictures of the box, dustbag, receipt, and authenticity card. Hashtags, URLs, or internet addresses should never be included on receipts.
Pay for tracking and insurance
When listing your bag for sale, make sure you ship it in the same condition in which it left you.
Most online shops offer prepaid packaging for bags that you deliver to them. Make sure that when you are shipping your bag, it is tracked and that you have sufficient insurance.
It’s a good idea to consider purchasing insurance for packages, because insurance is somewhat costly, but the cost of a wallet could be much more costly. In this way, you will have peace of mind while your wallet is in the process of getting to its destination.
Take videos of your shipping process
Some people might view this as being overkill, but while I was selling my handbags I was quite paranoid. They cost me a fortune and the last thing I wanted was for them to get lost or stolen in transit. Worse yet, a customer might complain that what was in the box was not what they got for their money.
Why was I so worried? Well, I’ve read horror stories online about people delivering their designer bags and store employees claiming that the box they received was fake or empty.
So I would bring my bags to the distribution center and have them unpacked there, set up my camera, and shoot the entire process of being packed and given to the shipping personnel. It’s a bit of overkill but it provided me reassurance.
You can confidently sell your designer handbags for cash!
Whether you’re downsizing your luxury collection or just need to get rid of one, you can sell your designer handbags for money and recover a portion of the purchase price while freeing space in your closet, too.
It may not be difficult or time-consuming, but identifying the right buyer for your high-priced bags and receiving those profits is well worth it.