Do you have a designer handbag in your closet that is no longer being used and you don’t want to let go of it because it cost you so much? Or perhaps you have a collection of unwanted designer bags gathering dust?
As a solution to your problem, there are a lot of online consignment stores where you can sell your pre-owned designer handbags and earn good money for it. The price, of course, won’t be equal to the original amount you paid but will still be of good value, depending on the condition of your bag.
If you’re new to online selling or you don’t know how to price your item fear not; this guide will give you helpful tips and instructions for selling pre-owned bags online. So before we look at the specific platforms, let’s discuss how to sell your pre-owned bags online and start making money.
How to Price your Used Designer Handbag?
When you’re selling a pre-owned item online, it is important to keep in mind that buyers are looking for a good bargain. Setting a price that is close to the original price won’t help you much with selling. You need to know how you are competing with other selling prices of the same handbag and then set a price that makes you a competitive seller.
If you have a special edition luxury handbag, you can mention that and can likely score a good price. Designer handbags that are trending or are part of a permanent collection of the brand (bags that never go on sale) will have a higher value in the market. So, before you can decide a price, do your research and determine how much it can be worth it.
You can come to a price by researching the online rates of the bag. Search eBay for a complete listing of similar bags and compare the prices. Go to eBay’s advanced search, type the exact words for your bag, and click complete listings. You will be able to browse through all other seller’s prices for the same bag.
Another helpful way to set a price is through Resale Calculator from Vestiaire. This calculator allows you to type in the name, model and special features of your bag and gives out the best price range for it.
How to Maximize your chances of Selling?
To maximize your chances of selling your bag, good marketing is the key. Keep in mind the following points:
- Good Photos
A good picture is likely to attract potential buyers. You should post multiple images of your bag instead of a single one. Most importantly, take pictures that clearly show the condition of the bag. Don’t hide any defects and take pictures that showcase the brand logo, serial number, and original packaging. Take pictures from different angles.
Tip: Good photography of the bag e.g. with a matching outfit will give you more potential buyers. - Good Description
A detailed description of the bag will give buyers all the answers to their questions and increase the chances of your sale. Mention the name, model, time, and place of your purchase; how long have you had it and the exact condition of it. Be honest in mentioning any defects or condition of your bag, it will be much easier to sell that way. - Share photos of the Original Packaging
Find the original packaging and the receipt of the purchase to prove the authenticity of your bag.
Now that you understand how you can price your designer bag, you can choose to sell it on your own to any person in the world or sell through a designer bag consignment platform.
List of Websites for Selling Used Designer Handbags
Here’s a list of 8 popular online platforms where you can sell your pre-owned designer handbags:
Fashionphile
Fashionphile is the most popular consignment store with a great online reputation. They have a huge variety of handbags as well as shoes and other accessories. The company usually takes offers concerning the demand of the bag; however, they also accept “out of trend” bags, although you won’t get a great amount for that.
To start selling, you have to upload pictures of your bag on their website and they will respond in a few business days with a price quote for your item. You can then print your shipping label and send the item to the store. You can earn up to 70% of the price which will be paid by Direct Deposit or Store Credit.
Verstiaire Collective
Verstiaire Collective is another good option. They allow you to directly list your items on their website. To start selling at Veristiaire, you have to download the app and post pictures of your product along with a description that covers the brand, model, and features of the bag you are selling. This way you are directly listing your product on their website.
The consignment team will help you with the photography, price setting, and product pickup. You can also check out their website for helpful selling advice. After listing the product, if it is sold on the website, you will be required to ship your item to Verstiaire for free and the team at the company will check the product for authenticity before shipping it off to the buyer.
The payment is secured once the article has been shipped to the buyer. You get 80% of the purchase price which is directly transferred to your bank account. Customers at Verstiaire can also make a price offer for an article, so set your price keeping that in mind.
Rebag
Rebag is another great consignment store, although they have strict rules for the condition of the handbag they will take. You have to send photos of your bag through their mobile app or website. Following that, you receive a price quote from their store in 1-2 business days, after which you can sell your bag to the company. You will receive your payment within two to three business days.
The Real Real
The Real Real is an online consignment store with a huge variety of handbags and accessories. To sell your item on their website, sellers have two options. You can either send-in your item and get a price quote, or you can schedule a free home pickup. Although you have to be within their range for that. Once your item arrives, their experts inspect it and price it accordingly.
For payment methods, you can either opt for a Direct Deposit or earn through Site Credit (5% each month). Sellers earn up to 85% of the sales price. The company also accepts items other than just designer bags, such as watches, shoes, jewelry, décor, etc.
Bag Borrow or Steal
Bag Borrow or Steal is an online marketplace for designer handbags. But what makes it different from the rest is that this website allows customers to borrow, rent, or buy designer bags. There’s an entire list of bags that are up for rent.
Sellers can consign their designer bag here for 70% or you can also sell directly to the company. The company pays its sellers via PayPal, Store Credit, or Check.
Ann’s Fabulous Finds
Ann’s fabulous finds is a small inventory consignment store with good reviews and reputation. It pays a good amount for high-end designer items which include Hermes, Rolex, Van Cleef, and Arpels, Chanel, Gucci, and many more. Ann’s will give free shipping labels for items of these listed designer items.
To sell an item, your article must have a minimum value of $400. Once you send over an item, it will be authenticated, photographed and a price will then be discussed with you before posting the item online.
If you are unable to reach an agreement on the price, the article will be returned, and one-way shipping will be paid for by the company. If an item is not sold within 30 days, the price may be marked down. The consignment period is of 100 days, after which you can choose to either have the item returned to you or allow Ann’s to keep trying to sell it for you.
The company pays its sellers on the 10th or 25th of a month via Check or PayPal. For items that sell for more than $1000, there is a tiered scale that allows you to earn a hefty amount. You can earn 90% of the portion of the sale price for an article sold for above $3000, 75% on the portion of the sale price between $500-$3000, 60% on articles sold up to $500.
Yoogis Closet
Yoogis closet is a reliable consignment store but with fewer items as compared to other websites. All you have to do is answer some questions regarding the article for sale and send at least one picture of it to get a price quote.
You will get the request to sell the item within two business days and you will have the option to choose from two types of sale method, direct purchase estimate or consignment estimate.
You can decide your method of selling after you have received a price quote; after which you will have to attach the pre-paid UPS shipping label and leave it at a UPS store. Yoogis closet will then examine the item and notify you by email. If you decide to change your mind about selling your item, Yoogi’s will return your item at their expense.
The direct estimate allows faster payment as you will receive your money within 1-2 business days upon receipt of your item. Payment can be received either by Check or PayPal. The consignment estimate is your estimate after the company has sold your article and deducted the consignment fee.
Couture USA
Couture USA specializes in designer accessories and has an easy process for selling your handbag or accessory. To get a price quote for your designer item, you have to fill out a quote form on their website. The form requires some information about the item you are selling along with pictures of the product.
An expert buyer at couture will respond with a price quote within 48 hours. Once you get your quote, you will be required to follow the instructions in your quote email and generate a prepaid shipping label. The labels can be generated for an article with a value of over $500. Once the item is shipped, the team will inspect your product for authenticity and reply within 1 business day for payment confirmation.
Couture has selling options for direct purchase or consignment. You can earn 60% for a selling price of $300 or more through direct purchase and 40-45% for a value of less than $300. The advantage here is immediate shipping and quick cash as compared to consignment in which the product is shipped a month after its sale. The company, however, offers as much as 75% of the selling price, resulting in more cash. Payments are made via Check, PayPal, or Bank transfer.
To conclude, you have the option of selling your handbags on your own, which allows you to earn maximum value but also requires higher responsibility and a lot more work.
The easiest option is selling them through consignment stores that handle all the work and responsibility. To start selling your bag, we advise you to do your research first.
Here’s another guide that tells you how you can sell your books online. It’s a real treasure for book lovers who don’t have enough space to keep all their books.
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