HOW MUCH IS MY DESIGNER HANDBAG WORTH?
The designer handbag market is projected to reach $51 billion by 2023. This is good news for anyone looking to sell their designer handbag online or in person. But, while designer handbags can be a great investment, all that money goes down the drain if you don’t sell your handbag for what it’s worth. Selling your designer handbag to a trusted dealer like Sherry’s Handbags is the best way to sell your handbag. It is also beneficial to know what dealers look for when determining a fair market value for your pre-owned handbag. Read our guide to help determine the value of your designer handbag and which bags have the highest resale values.
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Designer Handbag Brand
When selling your handbag, the brand is the most important consideration. But the fact that your handbag is from a luxury designer brand isn’t the only thing that will get you a higher price. The brand and model itself makes a difference in your handbag’s price, as each brand generally sells for a certain range.
For example, Burberry tends to sell in the lower range of luxury handbag prices, while Louis Vuitton and Gucci sell for somewhere around the middle. Chanel tends to always command a higher price, with Hermes taking the highest spot. Of course, there are exceptions to this rule, including trends, limited edition models, and rare materials, so make sure to do an online search if you need a better idea.
Some other qualities of your handbag to consider are material and hardware. Canvas and fabric will generally fetch you less of a price than leather, and exotic leathers like crocodile can get you a substantially higher price as these are rarer, much pricier items. If your handbag has hardware other than metal, like pearls, gems, gold, or artisan embroidery, then this could also increase the value of your bag.
The condition of your designer handbag is one of the most important things to consider when selling your designer handbag. No matter how expensive your handbag was when you acquired it as a present or purchased it yourself, a heavily worn bag can dramatically decrease the price you are able to sell it for.
If you want to sell a heavily used bag, assess what needs fixing and take the bag to a certified handbag repair center or a restoration specialist. Weigh how much they will charge you with how much you think you might be able to get for the bag after the necessary repairs are made.
Assess the Condition of Your Bag
Some things to look out for when assessing the condition of your bag include:
- Broken zippers or chains
- Wear or tarnishing on the bag’s metal hardware
- Wear and tear on the leather, such as scratches or scuffs
- Loose or missing stitching
- Any smells like perfume or cigarettes
- Whether you have box or receipts
- Card, dustbag, and receipts will also add a premium
Just because your bag might be missing the original tags and receipts doesn’t mean you can’t get good value for it, of course. The more you take care of your bag and keep it in good condition, the higher chance you’ll be able to sell it for more later.
Popularity and Trends
If you see that a Luxury Brand are increasing their prices, it could be a good indicator that demand for that Brands Model is growing. If demand for the brand is high, this might be a good time to sell your bag. On the other hand, if you notice a certain brand or model constantly in the designer handbags sale section, it’s likely that it’s not in high demand right now.
You can check what luxury fashion YouTubers are saying by searching your handbag’s brand and model. If you see a lot of celebrities wearing a certain bag or designer on social media, this could be a telltale sign that its popularity is increasing. You can also check for increasing brand popularity on luxury resale websites as well. If you see the prices steadily increasing for a certain brand or a model being continuously sold out, chances are the demand is high.
Seasonal or Trending Bags
Trends and seasonality are where the price of your bag can dramatically increase or decrease depending on the situation. For example, if your bag is seasonal and is technically out of season, chances are you won’t be able to get much money for it unless it is a classic like a Chanel Flap Bag.
Handbag trends can be classified into two main categories:
- Trending handbags, even if they’re classic styles
- Trending designs of handbags
Any handbag could be trendy, even a classic style like the Louis Vuitton Speedy. If you have a bag in this category you might be able to get a price higher than what it usually sell for second-hand simply because of the fact that it’s popular. Trendy designs of handbags can be just like trending fashion designs that you’d see at the store or online. Trending handbag designs include whatever’s trending that season, such as embroidery, neon, logos, and quilting. You also need to be careful when buying trending designs as there’s a chance that you won’t be able to sell the handbag for a high price later unless that specific design becomes popular again.
Unlike trending bags, vintage and classic designer handbags tend to hold their value extremely well. This holds especially true for vintage versions of bags that remain classic models today or limited edition runs. For example, the Chanel Classic Flap is a famous black designer handbag (although it comes in many other colors as well). The Classic Flap has been around since 1983, when Karl Lagerfeld redesigned the Chanel 2.55 bag from the 1950s.
While a gently used Classic Flap can get you a good resale price today, a vintage Classic Flap can sell for even more. When taking a look at the bags you’d like to sell from your collection, look up the model name, number, and size of your bag. Better yet, if you have a receipt, check when you bought the bag. A quick online search should let you know how much similar bags currently selling for.
Tags and Accessories
Having the original tags is an excellent way to help keep the value of your bag. If you still have the tags and any original packaging that came with the bag, then you can show that the bag is still hardly worn and in like new condition. Even if your bag isn’t new, having the original receipt and authenticity card is an important way to show that your bag is authentic and was bought from a reputable store (or the designer boutique itself). It is financially beneficial to you to keep your bag in good shape so if you ever decide to sell or trade you can expect top dollar. Sherry’s Handbags is well known for paying the best prices for designer handbags and by far the best place to sell a handbag online.
Accessories can also affect the value of your bag. Women’s designer handbags come with accessories that include dust bags, rain covers, extra studs, straps, or removable zipper pouches. Whenever you buy a designer handbag, make sure to keep all these accessories in case you decide to sell the bag at a later time. Accessories, tags, and proof of purchase are vital in helping dealers determine the authenticity of your handbag.
Common Investment Bags
There are several models of handbags from different brands that many people consider to be the best designer handbags for investment. These models have timeless styles and have held their value over time. They include:
- Chanel Classic Flap
- Chanel Boy Bag
- Louis Vuitton Speedy
- Hermes Kelly
- Hermes Birkin
- Louis Vuitton Neverfull
- Gucci GG Marmont
- Prada Nylon Re-Edition
- Louis Vuitton Pochette Metis
- Christian Dior Lady Dior
If the bag you’re looking to sell is one of these brands and models, you’re in luck. These have held their value well over the years, and many of them have increased in price as well.
When you’re buying future handbags, these designer handbags brands are a good option to consider, as you never know when you might decide to sell or trade a bag in the future. The price will also increase depending on availability, demand, and limited edition or vintage versions of each model. Keep an eye on the market, and when you see the prices go up, it could be time to sell your handbag.
Ready To Sell Your Designer Handbag?
We hope this article gave you some helpful key points to look out for when thinking about selling your designer handbag. Remember to keep in mind the condition of your bag, as well as its brand, style, and demand. Always apply these to the quote you get for your bag to determine if you’re getting a fair price. Selling your bag for a fair price doesn’t have to be stressful, and it can be as simple as filling out a form, sending a few photos, and giving some more information about the bag.
If you’re ready to sell your handbag to a trusted dealer, contact us today for an instant quote. Sherry’s Handbags is ranked the best place to sell a designer handbag online. They make immediate payment via ACH the same day your bag arrives. Expect the best price and service at sherryshandbags.com or call 877.752.8484. A trusted handbag buyer will be glad to guide you through the process.