Where To Sell Your Used Luxury Handbags for the Most Money
Generally, the main priority for anyone looking to sell pre-owned luxury handbags is to get the most money possible for their item. While some may want to get close to retail and others may just want to recoup what they can, everyone wants to maximize the value of their secondhand goods when it comes time to sell. With so many options for selling your designer handbag — from brick-and-mortar consignment stores to online marketplaces and even jewelry & pawn shops — how do you know where to turn for the highest possible return on investment? Here’s your ultimate guide to getting the most money possible for your used luxury handbags.
In-Store vs. Online
There are two main routes for selling your used luxury handbags: brick-and-mortar stores and online marketplaces. In-store selling is preferred by many for its immediate gratification and greater safety. In-person options allow you to speak to a person face-to-face, receive an instant estimate for your item, and get the cash the same day. There’s no risk of loss associated with shipping your items, and you can have confidence that your transaction will be quick and secure. You may also get higher prices because the salesperson has greater confidence in the quality of your item, since the appraisal was conducted in person. However, prices can vary based on your location and their current inventory.
Online platforms, on the other hand, offer greater convenience for busy sellers. While you’ll need to take photos of your items and ship them to the online marketplace, this can all be done from the comfort of your own home, making it a preferred option for some versus visiting an in-person used luxury handbag buyer. Online platforms can also offer potentially higher prices, since you aren’t limited to buyers in your local area. Online sites have a larger, global audience, maximizing their selling potential. However, many sites offer much less than they could for used luxury handbags because of the risks associated with buying designer bags sight unseen. They have to account for any potential defects or damage not accurately reflected in the seller’s photographs.
Consignment vs. Buyout
Whether you choose an in-person store or an online marketplace, there are two distinct ways of selling your used luxury handbags: consignment and buyout. Consignment is a method of selling whereby the store keeps your item in stock, marketing and selling it to their established customer base. Once the item sells, that’s when you can collect your money from the store. You’ll split the sale price with the store, typically receiving 50-70 percent of the final selling price.
Buyout options, on the other hand, provide immediate cash with less hassle. The resale store purchases your used designer handbag outright, offering a guaranteed price upfront. You’ll receive the cash the same day, so you benefit from instant payment and no waiting time. However, because of the convenience, you often receive a bit less than you would through a consignment method.
Selling vs. Collateral Loans
If you’re selling your pre-owned designer handbags because you’re in urgent need of cash, it’s important to know that there are options beyond selling. Collateral loans offer a unique alternative that can provide the cash you need while allowing you to potentially keep your beloved designer handbag.
Selling your designer handbag gives you an immediate, full payment for your item with no future obligations. This option is best for people who no longer want their designer item and would rather have the money to buy something else. If you want to retain ownership of your bag, however, collateral loans allow you to get the cash you need without permanently parting with your designer goods. At Watch & Wares, we offer four-month loan terms, so if you fully repay the loan within that four-month timeframe, you can collect your designer handbag and continue enjoying it for years to come.
Watch & Wares is a premier destination for buying, selling, and issuing collateral loans against designer handbags in Orange County. With over 30 years of experience in the luxury resale industry, our team has the expertise and knowledge to accurately value your pre-owned luxury handbags and provide you with a fair offer. In fact, we offer some of the most competitive rates in all of Orange County. Our reputation as one of the most trusted places to sell designer bags ensures that you will receive five-star service and a fair price for your pre-owned luxury handbags. To schedule an appraisal for your luxury pre-owned designer handbag, give us a call at 714-633-2030 or fill out our online contact form today.
