The secondary market has become a faster-growing market than the primary market. This is especially for buying and selling pre-owned bags. Studies show the Luxury secondhand market is growing four times faster than the primary luxury market.
Now, what is better than having a designer bag at a discount? Exactly, this is the feeling you can have with second-hand luxury handbags. At the same time, pre-owned bags could raise a few questions. You should always keep in mind the dos and don’ts of the secondary market. Read below an in-depth Guide to Selling Pre Owned Bags: 10 things you should know about the secondary market.
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How to sell designer handbags online?
We always talk about a buyer’s journey. We talk about how and what process a buyer goes through when he or she makes the final decision to purchase. Nobody thinks about the journey of a seller. The real struggle stands with the seller. The seller goes through the struggle of putting up the product and meeting up with all the customer’s demands.
Selling Pre-Owned Bags in the Secondary Market
If we were talking about the secondhand shopping bag market, it is more difficult. Keeping up from high-quality to affordable prices could get a little tricky for sellers. Today, let’s try to make the seller’s journey a little easier. We can do this by discussing 10 things you should know about selling pre-owned bags and the shopping bag market:
Visuals
- Online shopping is all about looking at the product and making a decision. When selling pre-owned bags, the picture will say it all.
- You need to capture the bag from right angles with a plain background. Use white and gray lights for accurate colors.
- Your bag needs to be fully exposed to the customer from top to bottom.
Pricing
- Now, this factor is very important. This factor could determine the decision of your customer. For pricing, always do your research beforehand.
- First, check out the latest trends and how much others are selling it. Second, for classic bags, you could keep prices a little higher, as they go for the permanent collection.
- Mention special features your bag has to offer that other bags do not, e.g., the color of the bag or the collection it belongs to. Special features always add more value to your product.
Negotiating with the customer
- Always leave some room for negotiating when setting prices. Getting the price reduced will always be the number one attraction for customers. After all, who does not love bargaining and winning at it?
- Although, it might be a little disappointing for the seller. Sometimes offers made are very low. Always try to explain how your second-hand luxury handbag has an edge over other bags. You never know if this conversation could end up in your favor.
Clear descriptions
- Writing clear descriptions for your second-hand bags is very important. You need to be honest in order to avoid all misunderstandings later. Misunderstanding will not only disappoint one customer but could affect the overall sales of your business.
- Inspect your bag carefully. Even if you have gently used designer bags, there can be flaws and damage. If you find any, mention them clearly. You need to list out all of them.
- Likewise, highlight all the special features of your bag, e.g., if it belongs to a limited collection or its rarity.
Use proper packaging
- This factor is essential as it adds to the face value of your product. Locating a box and dust bag is important. The same goes for having a receipt and authenticity card for your bag. This is sometimes key to making the most of a purchase.
Contact details
- Share your genuine contact details with the customer. Winning customers’ trust is key, especially when you are selling a secondhand item. When a customer feels safe, he or she will be more confident in his or her purchase.
Pay for insurance
- When you ship your package, ensure it has a tracking system attached to it. Although insurance can be a little pricey, considering the standard of your bag, it is better safe than sorry.
Document the shipping process
- It is important to have proof of your shipping process. What if your package gets damaged or lost in transit? Or even worse, the buyer says he did not receive it. It could be a big loss. So always have proof, so you can claim your loss.
Share the history of the bag
- Sharing the history of the bag means telling the customer where you bought it and when. This could help you to prove the authenticity of the bag.
Where to sell my designer bag?
- What is the best place to resell designer bags? This stands as an important question when you decide to sell your bags. Till now, we have discussed a process that is more likely to be an online process. There are two other methods as well.
- Sell your bags to a consignment store. This is a way to skip all the hassle of packaging and shipping. The shop handles everything, and you get the upfront cash. However, there is one problem. Offers made are usually much lower than what you could make through selling online.
- Selling directly to the buyer. You can earn the maximum amount on sale. However, there is a high risk involved and more responsibility with insurance, shipping, and listing.
Can you make money selling pre-owned bags?
The main aim of entering the secondary market is to make the most money out of selling your bags. You need to be well aware of the above-mentioned factors when selling pre-owned bags. Also, the idea of sustainable trends and fashion is quite appealing to the masses. A survey shows that 64% of youth are attracted by this idea. If you are looking for an online platform, we have an ideal choice for you. Visit Sell Your Bags and use this site to sell your gently used designer bags. With such online options, you can sell handbags from home.
