The Best Luxury Items You Can Resell Online (And Where to Sell Them)
The luxury resale market is now worth over $32 billion. And it's going to get even bigger, with experts suggesting that reselling luxury items online will top 50 billion by 2026. Thanks to environmental concerns surrounding the fashion industry, selling pre-owned luxury items has become a major market. The stigma of buying pre-owned items has disappeared, and more and more people prefer to buy second-hand. Demand for luxury items is increasing, making now the perfect time to clear out some wardrobe space by selling luxury items you no longer use.
Read on to find out how to sell luxury items online and discover which items are most in demand.
Entering the luxury item resale market can be daunting. How can you be sure you're buying and selling at the right price? Some items can take a while, even at a low price, and dropping the price won't help. However, some items have been selling well in the past and look set to continue in the future. If you don't know where to start your online reselling journey, we recommend thinking about these five luxury items.
1. Wine
If you were wondering, can you resell wine online? The answer is yes! The luxury wine market is thriving, with plenty of choices to buy and resell wine online. However, many people are hesitant to buy and sell wine online because they don't know enough about wine. Some wines appreciate in value while others depreciate. This can make it hard to know what's worth your money and what isn't. However, the online fine wine market is still popular with collectors and wine enthusiasts. Wine prices are up around 20% compared to a few years ago, making now a great time to sell.
Wines To Sell Now
If you're looking to clear some space in your cellar, classic AOP French Burgundy and Bordeaux wines are selling well. Specifically, a bottle of DRC Grands Echezeaux 2004 vintage is now worth over $15,000. Other good wines for investors right now include Chateau Angelus, Château Rousseau Chambertin, and Chateau de Beaucastel. Famous Australian wines include Henschke's Hill of Grace and Mount Mary Cabernets. When selling wine online, consider how long the wine will keep. A wine that needs to be drunk soon may lose its value. Conversely, wines that can be laid down for years to come will appreciate in value.
2. Cars
Classic cars and vintage cars will always be popular on the resale market. Some classic cars have a better long-term return than buying gold or diamonds. The model and make have a significant impact on how much vintage cars sell. However, the most crucial factor when determining price is the car's condition and the parts' originality. Cars with original manufacturer parts have a much higher resale value. On the other hand, cars with new, modern engines may be better to drive but often sell for lower prices and won't increase in value.
Cars that will likely hold their value are:
Alfa Romeo Spider
Toyota MR2
Porsche 911
Porsche 924
Lotus Elise
Land Rover Defender
Other makes and models will fluctuate in price depending on current demand and fuel consumption. Cars with high fuel consumption may not sell as well. However, you should generally expect a car's value to double in ten years. Most classic cars have an information ratio of over 50%.
3. Artwork
Artwork is usually considered a risky investment. Aside from the major classic artist, there is no guarantee the art will appreciate in value. Therefore, the resale price depends on taste and the buyer's style. Selling art online is still popular, although the market demand is much lower and slower than others. Supply is also low as few people choose to sell. The good news is that if you do sell, the right buyer will pay several million for the right piece. You can use a reserve price to ensure your artwork doesn't sell for lower than market value. Getting your piece evaluated and valued by an expert is essential.
Currently, Old Masters and 19th Century art is underperforming. On the other hand, modern art, Impressionism, and Chinese art are selling well and are low-risk.
4. Luxury Watches
One of the most common questions we get asked besides where to sell luxury watches is, “Can I sell my luxury watch online?” Yes, you can! Selling luxury watches online is one of the best ways to make a little extra money on designer items. The second-hand designer watch market is robust. Demand is very high for classic watches, and prices are soaring. If you want to sell your preowned luxury watch, now is a good time. Popular watch brands usually retain their value, meaning they are an excellent investment.
Brands that will contain to appreciate in value include:
Rolex
Phillip Patek
Tag Heuer
Cartier
Omega
The above brands are most likely to appreciate in value and make them very popular. While other brands may keep their value, they are more likely to be subject to fluctuating demand and trends. Unlike other items, watches are not usually bought for resale or investment purposes. Most buyers are looking for watches to wear immediately, making the market very fast. You may need a verification certificate to sell Rolex and other brands. For 2022, Rolex should continue to sell well. Rolex is one of a few brands that continue to sell well during inflation. Pocket watches will also do well as they retain their value.
5. Designer Handbags
Fast fashion has become such a hot topic in recent years that designer handbags have soared in demand. Classic pieces that look good year after year will sell fast. The second-hand handbag market is very competitive. Classic brands sell fast no matter what style, with the value of popular designs increasing in recent years.
Popular brands include:
Chanel
Louis Vuitton
Hermes
Gucci
Saint Laurent
Dior
Celine
When setting the asking price, it's worth researching what other similar styles are selling for. Some particular styles sell in particular demand due to styles.
While many bags come and go into fashion, classic styles continue to resell for a high price. Some designer brands hold their value much more than others which will decline as they go out of style. Classic Chanel Crossbody bags in leather and other materials are still fetching over $3,500. However, rarer styles such as python and quilted could be worth over $10,000. However, by far the most in-demand used designer bags are by Hermes. Since Hermes sells bags at the designer's discretion, they are incredibly rare and sought after.
In particular, the Kelly and Birkin bags have retained their value. A Hermes Kelly in good condition will start from $10,000. Depending on the size and colour, it could be worth over $20,000. The famous Hermes Birkin can be sold online for at least $10,000. Unique colours and textures are available for over $60,000. Another bag still selling well on the second-hand market is the Louis Vuitton Neverfull. Like popular styles of Hermes and Chanel bags, the Neverfull is a classic style that will continue to sell well.
How to Sell Luxury Items Online
If you want to find the best place to sell designer handbags in Australia, you need to head online. Since the market for selling preloved designer items is fast, online sites offer more choices than physical stores. Look for sites that only sell legitimate items and have an authenticity policy. At Luxe.It.Fwd, we have a 100% authentic guarantee. This means you can get the total market value for your item, and there is no doubt about its origins.
Selling websites in Australia that check the authenticity of a product can ask for a higher price. You can also be sure that the selling website isn't a scam. It's normal for websites to take a small commission for selling your item, and this is not a scam. While some websites take up to 80% of the sale price, Luxe.It.Fwd takes a maximum of 50%. So, you get to keep more money. You can also sell by consignment with Luxe.It.Fwd, which is one aspect you can consider. You should also check as some sites specialise in certain items. The best place to sell designer handbags in Australia might not be the same as the best place to sell vintage cars. Specialist sites can also offer services like cleaning and restoration if you need them.
Many sites also offer free shipping, so selling things in Australia and worldwide has never been easier. This is unusual for larger items like cars but common with smaller items like reselling watches online. You should also consider inflation and interest rates. You might want to sell some items while keeping others to sell later. 2022 has high inflation, and consequently, art may not sell as well, while Chanel handbags and cars will.
Sell Your Luxury Watches and Handbags with Luxe.It.Fwd!
The second-hand online market is booming, with more people looking to buy online. If you have some designer pieces collecting dust, you could make a lot of money by reselling luxury items online. Start selling preloved luxury items today with Luxe.It.Fwd and see how much you could make. We are the best place to sell designer bags in Australia and also the best place to sell 2nd hand watches.
Many people don't know how to sell luxury items online, but with Luxe.It.Fwd, the process is simple and easy. With free shipping and no hassle, we can sell your products, so you don't have to do any work but still pocket the cash.
