(Image credit: Karen Ballard/Netflix)
Be your own fashion broker
We know we say this a lot, but you really can make a serious return on your investment by selling designer handbags that are always in demand, like the Hermes Kelly or Louis Vuitton Speedy. Even certain designer shoes are worth a few £££.
But how much money you make selling clothes online depends on a few varying factors. We asked the experts at Vestiaire Collective to share their top tips.
1. Always follow these three metrics
- Quality. Good craftsmanship is key and gives an item longevity in the marketplace.
- Desirability. Items with a high level of buzz around them retain higher resale value whilst they are still hot.
- Rarity. Limited availability of a brand or specific product, increases desirability within the resale market.
2. Sell items people want to buy
- In general bags make the strongest investment by recouping an average of 75% of their original retail value, dependent on brand popularity and when you resell.
- Shoes tend to take an average resale value of around 57%.
- Ready to wear average resale value is around 40%.
- Prices will vary according to brand, item and condition.
3. Monitor brand activity to sell your item at the right time
- The arrival or departure of a creative director will impact on the interest in a brand and therefore tends to increase the value of current previous or upcoming collections, a recent example of this would be Hedi Slimane for Saint Laurent, brands to watch are Gucci with the arrival of Alessandro Michele, Dior and Calvin Klein.
- A popular product release tends to increase the overall desirability of a brand, such as the Rockstud shoe for Valentino
4. Ensure the maximum value of your item
- Behave like a trader and sell pieces when they are still in demand. For hot items you will be able to recoup the majority of the original retail price if you sell within the same season of purchase. Overall an items desirability decreases significantly after 2-3 seasons from release, with the exception of a small number of collectors pieces.
- Keep your pieces in perfect condition by keeping them in their original storage.
- Keep all the original accessories that came with your item such as dust-bag, authenticity card, original box and tags.
- When putting an item up for sale, advertise it in the best possible light including clear shots of all angles and details with an in-depth description.
- Sell through a trusted resale site which will help ensure a stronger asking price.
5. Calculator the value of your items before selling
- Simple and easy to use, log onto vestiairecollective.com to access the Resale Calculator on the homepage.
- Complete the key product components including Brand, Category, Sub-Category, Material and Condition, press the ‘calculate resale’ button to reveal the estimated potential resale value of your item.
- Then put the item on sale, making sure you're not losing out on its potential.