September 26, 2018

It is important that once a year, we all clean out our closets and donate those old clothes we tend not to wear anymore. It keeps things clean and organized while also contributing to a good cause. While Donation is awesome, some items in your closet are just money waiting to be made. If you can afford to donate a $3000 handbag or $400 designer dress, then more power to you for being a major blessing in somebody's life. As for the rest of us, reselling our high-end clothing items can help us make some of our money back that was spent on the item, to begin with. One thing I have learned is that if you can make at least $20 or more back on an item, then it is probably worth looking into reselling. Any luxury brand item especially will get you much more than that.

 

When reselling luxury items, there are some things to keep in mind in order to get the most money and just also to know what to expect. The first step is to research whatever item you are thinking about selling. You want to know how much the item or items like it are being sold for. You specifically want to have an idea of how much the bag is worth in used condition. Doing your research is important, so you make sure that you are getting a fair amount of money for what you are consigning. Knowledge is power, and there are plenty of people who would love to take advantage of you if you give them a chance.

 

Always go into a consignment negotiation with confidence. The biggest thing to remember is never to undersell yourself. Don't worry if you are going to hurt someone's feelings or not. Of course, you don't want to insult someone and make them walk away altogether, but don't let them insult you as the seller either. Consignment is just business, and you shouldn't be intimidated and let your feelings get in the way of getting what you deserve. If you are confident in what an item is worth, go with it and trust your gut. If you feel that you are not getting what you think the item is worth, you have every right to walk away and find someone who will work with you.

 

A big factor in determining how much you will receive for an item is current trends. There are always those classic items like a Chanel flap bags or Hermes Birkin bags that will never go out of style, but most items will eventually go out of style at some point and slowly lose its value. Some places may not even buy an item from customers if it is not on trend or just more than a few years old. If you are not entirely sure right off hand, then it is good to continue to do your research. Google will forever be your best friend.

 

If even after doing your research you are still not confident in your consigning abilities, you always have the option to use a consignment expert. Utilizing a consignment expert will almost guarantee that you get more for anything that you want to resell. This is especially a good idea with your luxury brand items since you probably spent a good bit of your hard-earned money on them, so you want to make sure that you get as much money back as possible.

 

If you do not use a consignment expert, one way that can help you get more money at the end of the transaction is to make sure everything is clean and looking its best. Taking the time to get any stains out can be the difference in how much you earn from the item. You want to show anyone who is interested in buying your items that it was taken care of and they are purchasing a quality item from a responsible owner.

 

At the end of the day, one of the best things you can do is once you find a trusted retailer to consign your old clothes and other products, stick with that retailer. It can be hard to find someone that you trust right away, so once you find that person/place, it's smart to not stray away from them. Old clothes you no longer wear is just money in your closet waiting to be made, and you want to find someone who will give you a fair price every time you decide to clean out your closet.

 

More and more people are looking to buy luxury items through consignment. The internet being the main reason for this. When shopping online, you can find a lot more options that you would if you were to walk into one or two consignment shops while also saving money on these items. That being said, consignment shops are looking to buy luxury items more than ever. If you have old Louis Vuitton bags or Michael Kors dresses that you don't wear anymore, there are plenty of consignment shops, in-store and online, that are just waiting to give you money for them. Keep all of these tips in mind, and you can find yourself having a good payday.


Want access to our new arrivals & private sales?