Whether you’re splurging on a Hermes Birkin or grabbing a cute wallet for a gift, designer bags are the ultimate accessory. Unlike other fashion trends, which come and go at breakneck speed, a bag from a designer label like Chanel, Hermes or Louis Vuitton is timeless. As such, it can actually appreciate in value if you take care of it. For proof, a Hermes crocodile skin Himalayan Birkin recently sold at auction for a record-breaking $372,600—more than the price of a Rolls Royce Phantom.
If you want to get in on the action, check out our roundup of designer handbag sales that you can snag on the cheap. But beware: Before you make any major purchases, it’s important to understand how a bag’s quality and condition affect its resale value.
First, consider the designer’s reputation for creating a product that lasts. Hermes bags, for instance, are considered “unicorns” because they retain their original retail price at resale. Hermes Birkin and Kelly bags, in particular, earn the highest resale value.
Another factor is the overall condition of a bag, which includes any damage or signs of wear. The less worn a bag is, the better it will look. Resellers and individual buyers prefer to purchase bags that are pristine or nearly pristine.
Lastly, determine the selling mode. Decide if you’re going to sell your bag to a reseller or marketplace or if you’re willing to work directly with an interested customer. Choosing the latter route typically takes more time, but it allows you to keep all of the profit. designer handbag sales