In the last 90 days, 23,939 used Gucci items were sold and purchased on eBay.
While the quote about having one’s money in the closet right where one can see it comes from HBO’s “Sex and the City,” the reality is that certain designer items do appreciate in value over the years.
With the price of the popular Chanel 2.55 flap bag growing from $7,800 to $8,880 between 2020 and 2021 alone, more than a few people have stocking up and reselling on the mind.
To prevent clear-outs and hawking, the fashion house’s South Korea branch recently changed its policy so that each customer can buy only “one Timeless Classic flap bag and one Coco Handle bag every year.”
Gucci And Ray-Ban And Louis Vuitton, Oh My!
Looking at resale numbers on online marketplace eBay (EBAY) – Get eBay Inc. Report data, luxury watch company Chrono 24 found that Kering (PPRUF) ‘s Gucci was by far the most popular designer brand to buy and sell second-hand.
In the last 90 days, 23,939 used Gucci items were purchased on eBay. The most expensive vintage item was an embroidered vintage Gucci bag while more recent models like the Dionysus can list for over $5,000.
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The next most-commonly resold designer brand is EssilorLuxottica (ESLOF) ‘s Ray-Ban. While significantly less expensive than Gucci, the brand behind the popular Aviator and Wayfarer models is extremely sought-after online — between July and September, over 19,699 sunglasses pairs and other items sold on eBay.
As a new pair of Wayfarer Ray-Bans retails for around $150, the brand stands out in its place on the list alongside the likes of Gucci, Burberry and Chanel.
Within 90 days, 18,071 second-hand items made by LVMH (LVMHF) ‘s Louis Vuitton sold during the same time period. A monogrammed blue and green Taurillon Illusion Keepall Bandouliere 50 bag was the most expensive sale at $6,435.
Burberry (BBRYF) , Tiffany & Co. (TIF) – Get Tiffany & Co. Report and luxury watch maker Rolex followed Louis Vuitton while the bottom of the Top 10 was rounded out by the likes of Prada (PRDSF) , Chanel, Salvatore Ferragamo (SFRGF) and Armani.
Resales Are Both a Money-Saving Trick and a Business Opportunity
A 2011 coat with the latter’s price tag sold for $799 used while 7,175 Armani items sold in the last 90 days on eBay.
Consignment has long been a way to both unload items one no longer wears and those wanting designer clothes to get around the sky-high price tags. Most recently, it has also become an investing opportunity as many find and collect designer pieces with the goal of reselling them at a profit.
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Chrono24 cited data showing that while the global market second-hand and resale market was worth $96 billion in 2021 that number is estimated to reach $218 billion by 2026.
“It is interesting to see the price variations between the highest and lowest price items sold, this demonstrates just how much more accessible designer brands can be when buying second-hand,” a Chrono24 representative said in a statement. “Those who wish to enter into the luxurious world of designer brands might consider shopping second-hand as a cheaper and more sustainable choice.”
During widespread inflation and rising clothing costs in particular, second-hand clothing is also a way for many people to keep up with the trends at a lower price. While Gucci and Louis Vuitton pieces are usually sought out specifically by fashionistas, second-hand clothing is popular at all income brackets — a report from CouponFollow found that those who buy clothing at thrift stores save on average $150 a month or $1,760 a year than those who buy them new.
