Expert Shares Tips for Buying Secondhand Luxury Bags

The secondhand luxury market is thriving, with shoppers increasingly looking for sustainable and profitable options. Sarah Davis, founder of Fashionphile, has spent over 25 years honing her expertise in this space and offers valuable insights into buying luxury handbags secondhand.

Davis began her journey in 1999 while a law student, selling a Louis Vuitton red Epi bucket bag on eBay. Today, Fashionphile has evolved into a leading platform for secondhand luxury goods, with sales projected to exceed $500 million this year. The company has sold over 2 million accessories, capitalizing on the growing demand for pre-owned luxury items.

Market Growth and Trends

The luxury resale market is expected to expand significantly, outpacing the primary luxury market. A report from McKinsey predicts that the secondhand market will grow two to three times faster, reaching $317 billion globally by 2027. This surge is driven by affordability and accessibility, allowing consumers to invest in luxury without breaking the bank.

Davis noted, “There was a day that there were two real, in my opinion, entry points to luxury: Coach and counterfeits. Now they don’t have to do either. They can come straight to us.” With a focus on resale value, consumers are increasingly purchasing items with future sales in mind. Luxury watches, jewelry, and handbags are popular choices, often holding or increasing their value over time.

Expert Tips for Buying Luxury Handbags

As an authority in the secondhand luxury market, Davis shared three essential tips for those looking to buy and sell handbags effectively.

1. **Stick to Timeless Styles**: Investing in classic designs is crucial. Davis highlighted that signature styles from top brands, such as Hermès, Louis Vuitton, and Chanel, consistently hold their value. The Louis Vuitton Speedy, for example, is Fashionphile’s best-selling bag this year. “These bags are never on sale, and their prices increase every year,” Davis remarked. Proper care can lead to significant payoffs when it comes time to sell.

2. **Choose Classic Colors**: Neutral colors like black and brown are the safest bets for resale. Davis pointed out that black remains a consistent favorite, while shades of brown—ranging from taupe to chocolate—are also in high demand. These timeless tones ensure that items can be resold at any time, keeping their appeal intact for years.

3. **Conduct Thorough Research**: Finding the best deals requires effort and diligence. Davis encouraged buyers to explore beyond the most popular items. “There are so many bargains to be had—70%, 80% off retail—if you’re willing to do the search,” she said. Fashionphile offers tens of thousands of items, and lesser-known variations of classic designs can often be found at reduced prices. For instance, a navy Chanel bag typically sells for less than its black counterpart.

With the luxury resale market continuing to evolve, savvy shoppers can benefit from Davis’s insights to make informed purchases that not only cater to their style but also serve as smart investments. The secondhand luxury segment is not just a trend; it represents a sustainable approach to fashion that resonates with today’s conscious consumers.