Buying a luxury designer bag sounds like a faraway dream for many people. Although many people may consider it a superfluous item, having some of those exclusive models can be a good investment, and you can make some money selling it in the future.
A great option is to choose preowned bags. The models are still expensive, but cost much less than a brand new model. However, choosing the right bag can be tricky, and it is not only about the bag you like the most. Before spending some thousands of dollars on one of those, there are several things you should consider.
10 Expect To Pay Between 30% And 70% Less
The best thing about buying a pre-owned luxury designer bag is the price. Although the final price is still high, you can expect to pay up to 70 percent less than the original price, according to Charles Gorra, CEO of Rebag, a website specialized in second-hand luxury bags.
Be willing to invest more in classic brands and models, like Fendi, Chanel, and Prada. However, because you know, they will remain valuable in some years. However, if you are looking for a new brand or designer, don’t invest over $700, since the market still doesn’t know how much it will be worth in the future.
9 Spend Lots Of Time Doing Research
The first step to make the right decision is to do a lot of research. If you don't have dozens of tabs open on your web browser, then it's possible you haven't done enough research," says Charles Gorra in an interview with Elle Magazine.
According to the specialist, you should read several blogs and forums with reviews of the bags you are interested in. The second step is to check the price on different resale websites and compare it with the brand new one. If a product costs way below the resale price, you should doubt it.
8 Some Damages Don't Affect The Value
If you are buying a pre-owned luxury bag for the first time, you might think that all damages on them are a problem, what it is not 100 percent true. Rips and cracks in the leather are something that you should pay attention to and avoid at cost.
Valerie Nizan, style director at Vestiaire Collective, says that issues like a broken stitch are fine. The specialist also adds that "a bag that has been restored can still conserve its value if you take it to the brand's retailer for in-house repairs." But be aware of keeping the receipt, that a future buyer can demand in the future.
7 Be Able To Identify A Fake Bag
The most challenging part of buying a second-hand luxury bag is authenticity. There are some fakes so well-done that even the most trained eye could make a mistake. However, there are some things you should check before to avoid paying thousands on a fake product. You should pay attention to the details, like materials and stitching.
Another point is that each luxury brand has a peculiarity, and you should be aware of them. Louis Vuitton, for example, has an authenticity stamp in every bag, and you should pay attention to the letters. They also come with a date code that makes it easy to check if it is real or not.
6 Be Careful Where To Buy
There are countless websites selling luxury bags. However, you need to be very careful not to get frustrated. Prefer sites that give a lot of information about the product and also have original pictures of the bag from multiple angles. Besides that, also be aware of the returning policy, just in case you receive a bag below your expectations.
If you are investing thousands of dollars in a purse, you want to make sure it will be worth it. Prefer to buy on websites that have a good reputation on the market.
5 Check The Bag In Person
As we mentioned, there are some great sites on the market that invest lots of money in technology to certify the authenticity of the bag. They also have return policies that allow clients to send the product back if they are not satisfied. However, if you have the chance to check it in person, do it.
This is the best way to check the material resistance and the details that can reveal it is a fake. Some specialists say that even the smell of the bag can make you tell it is not real. And that is something you can just do in person.
4 Prefer The Classic Brands
If you are thinking of the bags as an investment, you should go for classic brands. Chanel, Céline, Prada are luxury products that keep their value for decades. Besides that, consolidated brands are often looking for inspiration on their vintage collection to create new ones. As a result, the original vintage bags become even more valuable, according to Elle.
Chanel flap bags, the Valentino rock studs, the Chloé Drew bag, and Gucci bags are some models that are worth to invest.
3 Pay Attention To The Material
Buying a fancy brand is not the only guarantee that a purse will be still valuable in the coming years. The buyer needs to pay attention to several details, including the material used on the bags. According to specialists, the best choice is to invest in "leather and exotic materials," that have good resistance and will last for decades with the right maintenance.
Specialists also advise avoiding materials like jersey and satin, if you are buying it as an investment. Those materials are fragile and last much less than others.
2 Chose A Limited-Edition
As we mentioned, classic models and brands are the best choices because they keep their value. However, some bags don't follow those rules and are worth the investment. The specialist Caitlin Donovan explains that it is worth to invest in one of a kind bags in some situations.
Those bags are often part of limited editions and have astronomical prices. Those bags are the type that every collector is looking for, but very few can find it. And even fewer can afford it. The Hermès Ghillies Birkin, for example, is worth over $80,000.
1 Hire A Specialist
Are you still hesitating after checking reading the authentication guidelines of each brand and checking the details? Perhaps you should spend some more money and contact a company that is specialized in verifying the authentic luxury products. Some sources affirm that 90 percent of the luxury bags sold online are actually fake, so it is a good idea to have extra security if you are not an expert.
There are several companies and also independent specialists ( often socialities and people who worked with luxury brands for several years) on the market that can help you.