Selling second-hand designer clothes can be tricky. Fashion is ever-changing, which gives items different values at different times and can often be confusing and sometimes frustrating for our sellers. As buying preloved designer items is becoming more popular the market is even more changeable and so we spend a lot of time explaining to sellers what is hot - and what's not. Here, we take a look at the luxury fashion reseller market, right now.
The value of a used item will depend on key factors, such as the item’s condition and also on its cachet and “wearability”.
Condition -> The item’s condition comes down to how loved it was in its last home, which is why it’s always worth taking extra care of your luxury purchases.
Wearability -> No matter how popular a brand name might be, each and every piece has a wearability factor, which hugely dictates how re-sellable it is.
Increasingly, an item’s value bears little relation to the original purchase price, which can be a difficult message to convey to sellers looking to make the best possible price for their preloved fashion items. To make this an easier conversation, we direct them to “The ShonaMac List”.
The List details which items are rising in wearability and which are currently on a downward trend, affecting their relative values. So, for example, in the last 5 months, we have sold nearly six times as many pairs of designer trainers as we have ballet pumps. Only a couple of years ago, it would have been the other way around.
A few years ago, it was only couriers and postmen that used cross-body bags. Now, why would we use anything else? We can also see trends reflected in the popularity of high-waist and more tailored denim rather than super-casual and low-rise jeans. This all makes the latter items less wearable and so, less valuable for resale.
The List does not suggest that we now can't sell second-hand designer handbags and high heels, but just rather their resale values are decreasing relative to price tags they have been able to command in the past.
We all know that fashion is cyclical, so we know for sure that high heels and ballet pumps will be back in vogue at some point, alongside oversized handbags and mini dresses. But for a snapshot of what is happening in the luxury resale market right now, The List helps to offer an idea.
The only exception to the cyclical trend is the downward trajectory of real fur items. Fur has had a poor resale value for quite some time and looking at the way the industry has evolved, the end of the second-hand fur market could well be right around the corner. Burberry and Gucci have both recently joined Armani, DVF, Coach, Furla, Versace, Galliano and others in banning fur from their collections. Chanel will no longer produce accessories in exotic skins and surely, the industry will follow. So, while we have always taken the view that we would rather fur end up being recycled than ending up in landfill, we are reviewing our policy for the next AW season.
Shopping more sustainably and purchasing luxury second-hand fashion and accessories is on the rise. Keep up to date with all things preloved designer fashion on the brand-new ShonaMac blog and don’t forget to keep an eye on our New Arrivals page to make sure you never miss a luxury steal.