There are many reasons to love luxury brands. They create timeless luxury by creating the highest quality products that last for decades to come as well as by consciously making the choice of not jumping aboard the trends train.
Reselling luxury products has always been a good idea. After all, the highly coveted Birkins are called “investment” bags for a reason. Unlike your typical fast fashion brands which create the equivalent of “use and throw” items that end up in landfills, luxury items, are usually passed from one wardrobe to another. We can owe this to the fact that they’re often gently used and of extremely high quality.
The Luxury Secondhand Market
A great resale value along with the ability to lead to a green future? Yes, sign us up, please!
The green movement has led to the growth in the circular fashion movement, with more and more eco-conscious millennials looking to buy vintage and to thrift rather than give their money to fast fashion brands. In terms of luxury products, the market has seen a rapid rise since the advent of the COVID-19 pandemic. Don’t believe us? Let’s just look at the data:
→ The secondhand market is projected to double in the next years, reaching US$77 billion by 2025. This means that it is expected to grow 11X faster than the traditional retail clothing sector.
→ The luxury secondhand market is growing at 12% per year (as compared to the primary luxury market, at 3% per year).
Selling your Luxury Products
So far we’ve established that luxury products last forever, are investment products for a reason, and are much better for the environment than fast fashion. If you have a luxury product you’re looking to sell, BOPF is the place for you.
Create space in your wardrobe, get a great price for your preloved luxury products, and contribute to the circular fashion movement - all in one go!
What to sell?
The fantastic thing about luxury brands is their products are always in demand and their resale value will always be high. After all, have you earn heard anybody say “Oh that Vera Wang is a decade old. I don’t think is for me”? No. That’s because just rich luxury product never gets old 0 they become vintage! Time moves forward, the sun rises in the East, and a Cartier bracelet never goes out of style. These are just facts of life.
The uber classy Chanel Mini Coco Handle Bag with the classic Chanel logo on the flap is one of those pieces that is eclectic and timeless at the same time. The product retails at US$ 4900. The resale value of the bag with the calfskin handle is US$3500. This means that the value of a preowned Chanel is about 80% of a brand new one.
LV bags and clutches are a testament to what never goes out of style! No matter where you are in the world (or when), if you see an LV bag, you know its owner exemplifies class. This LV Monogram Trunk Clutch is made of leather and features gold-tone hardware, a detachable crossbody strap, and zip closure along the top. It retails for US$3600. The price of a preowned LV Monogram Trunk Clutch on BOPF is just a little under US$2560 i.e. over 75% of the original price tag.
The definition of a piece that is functional, luxurious, and goes with pretty much any outfit, the Hermes 24/24 bag in Gold Leather with palladium hardware retails for US$8700. It is currently up for grabs on BOPF at close to US$5000.
We also have the Hermes 30 Gold Birkin Epsom Leather Bag listed on BOPF. It is a well-known fact that Birkin bags are great investments - after all, they tend to do oftentimes resale at a higher price than the original price tag. They’re considered to at times even be a better investment than gold or the stock market.
Luxury brands hold very high resale values. You have your classics, such as bags by Chanel and Birkin (as well just saw), as well as jewelry by brands such as Cartier, that command very high resale prices. However, newer, trendier pieces, such as the Dior Book Tote, the Dior Saddle Bag, and the Gucci GG Marmont bag also sell very well in the secondhand luxury market.
If you currently own a luxury product you’d like to sell, BOPF is just the place to do it! We make the whole process a breeze for you - taking care of everything from product photography and marketing to accounting and logistics. All you need to do is submit your items by filling out the form, we’ll then collect your items, authenticate/inspect, photograph and list them and you just get paid once your item(s) sell.