Last updated on July 6th, 2023 at 09:48 pm
If you’re thinking about selling your luxury items, now is a great time. Many buyers are looking to get timeless luxury goods second-hand, especially now that sustainable shopping is a higher priority.
Some brands stand the test of time. Luxury brand items in particular often maintain their value or even become more valuable after a few years.
If you have luxury clothing, bags, jewelry, or other items you no longer use, this might be a great time to try consignment. You may be able to sell them for a higher price than you think and get a great return on your investment.
The Most Popular Luxury Brands Today
According to the most recent data from Luxe Digital, the most popular luxury brands for online consignment are Gucci, Dior, Chanel, Louis Vuitton, and Hermès. Tiffany is the most popular jewelry brand, and Rolex is the most popular watch brand. Prada, Versace, and Ralph Lauren round out the top ten brands list.
Gucci has been the most popular luxury brand for the past 5 years. This brand appears to be embracing sustainable supply chains and gender fluidity, which are important to an increasing number of buyers. Buyers are most likely to look for Gucci shoes, bags, belts, t-shirts, and watches.
Dior only recently rose to second place. Unique collaborations such as the Dior x Birkenstock Cottagecore-inspired collab, a rebounding beauty line, and the ever-popular Lady Dior bag have made Dior more popular in recent years. Buyers are most likely to look for bags, perfume, shoes, sneakers, makeup, and t-shirts from Dior.
Chanel remains extremely popular at #3 on the list. This brand is beginning to place purchase limits per person per year on select items, starting with the Classic Flap Bag. People gravitate toward bags, perfumes, earrings, necklaces, lipsticks, wallets, and shoes from this brand.
These top brands are popular across generations. Not every luxury brand is in high demand today, though. For instance, items with Michael Kors, Kate Spade, and Tory Burch logos have been declining in resale value.
Popular Vintage Items From Luxury Brands
Vintage or pre-owned Tiffany jewelry has become very popular with buyers. “Return to Tiffany” pieces are extremely popular, and Tiffany clip-on earrings are sometimes selling for several times their retail price.
Vintage Chanel necklaces have also been giving sellers a high ROI. We’ve heard about vintage Chanel necklaces selling for as much as 697% of their retail price, which is incredible!
We are also seeing high ROI with a few sneakers and watches. New Balance sneaker collaborations, high-value Nike Sneakers, and Dior Jordans are extremely popular. In the world of watches, Rolex Submariner Date watches and Patek Philippe Nautilus watches have also been known to sell for well over their retail prices.
Across brands, ‘90s fashion has experienced a strong revival in recent years. Jean Paul Gaultier, Thierry Mugler, Prada, Missoni, and Vivienne Westwood items from this era are extremely popular.
How to Sell Your Luxury Items: Consignment vs. Auction
There are several ways to sell your luxury items. If you don’t know where to begin and want someone else to take care of the sales process, you may want to consider consignment.
In consignment, you ask a third party retailer or business (the consignee) to see something for you (the consignor). In return for this service, the consignee will take a percentage of the sale. Consignment is often much easier than trying to sell items yourself, and it may give you a better chance at getting the best price.
That said, most consignment stores won’t take items that are significantly damaged or dirty. They also won’tt take items they don’t expect to sell successfully based on current market trends.
Another option is to hold an auction for your luxury items. An auction lets buyers compete against each other for an item, and whoever bids the highest price wins.
With an auction, you can potentially get a much higher price than expected for the item if interested buyers get in a bidding war. On the other hand, if there aren’t many interested buyers, you may end up selling your item for a low amount. Auctions are usually a good choice for rare and highly coveted items.
In most cases, we recommend consignment for selling designer and luxury goods. That includes fine jewelry, vintage clothing, and older designer bags.
How Luxury Item Consignment Works
Here’s an overview of the consignment process:
- Find a consignee. You can choose either an online or brick-and-mortar consignment company. That said, online consignment will usually get you a larger audience and a faster sale.
- Draw a contract. The contract should detail which items the consignee will sell and what percentage of the sale the consignor and consignee will get.
- Let the consignee sell your items. Depending on the consignee and item, they may sell your luxury items through an online marketplace, a physical store, or their network.
Consignment takes the work of selling your luxury items off your shoulders. With one less problem to worry about, you can focus on things that are more important to you.
Ready to Consign Your Luxury Items?
At Fruitcocktail Collectables, we offer high-end consignment, estate sale, online auction, and appraisal services. We can help you fetch the best price for your designer clothing, fine jewelry, and other luxury items. Our company typically takes 20-50% of the commission, depending on the price of the item.
As a consignee, we post your items to an online marketplace to make sure they get a wide audience. We also use our network to help get your items sold faster with less hassle. As a company with decades of experience in the Greater Puget Sound region, we have connections and know the market intimately.
While you wait for your items to sell, we keep them in a secure facility with an alarm system. Our goal is to give you peace of mind as well as the best possible price for your items.
Fruitcocktail brings years of industry knowledge and professionalism to every client we work with. Contact us today about consigning your luxury items.