The current economic recession definitely changed the public’s perception of luxury. The exclusive designer goods that used to be so expensive and hard to get are now flooding the outlets and sample sale sites. Consumers are now used to the 70% discount. How will we ever pay full price again? Will the designers inflate their price even more and give us pseudo discounts?
Read Buyer’s Market from WSJ Magazine
Here is how:
Step 1: Buy your bags at deep discounts.
I usually can get my bags at deep discounts. Especially in this economy when everything is pretty much on sale. I don’t buy my bags right when it comes out because it won’t be on sale. To be a smart bagaholic you should be patient in shopping. Always look around and find the best price. It’s really not that hard. All you have to do is just click, click, click. I like to go on eBay, Bluefly and the private sales sites such as Ideeli, Gilt, Hautelook and Rue La La. If I happened to go out, I like to check out Saks and Neiman Marcus outlets. They sometimes have very good deals. If you are not an experienced eBayer I would suggest to be extremely careful when shopping on eBay for designer bags, such as Louis Vuitton, Chanel, Hermes, Prada, Bottega Veneta, etc. These particular brands are a common target for counterfeits. If you are new to eBay, start by buying contemporary designer bags such as Rebecca Minkoff, Bulga, Gustto or other similar designers, because those brands are not widely counterfeited yet. If you don’t mind buying vintage designer bags, there are also some reputable sites that sells pre-owned, gently used, authentic bags such as, Yoogi’s Closet, Authentic Bags for Less, and Fashionphile. I don’t have any experience with these sellers however, I’m sure you can go to the Purse Forum and ask for tips from those that have done business with them.
Step 2: Keep your bags in good shape.
Use you bag gently and maintain your bag well, so that it will look almost new. Read here on how to keep your bag looking nice and new. This step is very important in order to recoup most or a big part of your investment.
Step 3: Sell the bags that you haven’t worn in a year (except for classic bags).
I’m the kind of person that gets bored easily. Whenever I have some new bags I tend to use the newer bags more often compared to my old ones. Set aside the bags that you haven’t worn in two seasons (I’m talking about fashion season which is spring/summer and fall/winter). Try to sell it. I prefer selling my bags on eBay, because I usually can recoup most of the money I paid. Sometimes, I even make a little profit. However, if you are not familiar with selling on eBay, you can always sell it to someone you know or to the pre-owned bags seller that I mentioned in step 1. With the money you made selling your old bags that were just sitting in your closet inside the dust bag, you can now shop for your newest obsessions.
As for classic bags, you probably don’t want to sell them yet after a year because these bags tend to appreciate in value over time.
Image from Polyvore
I just love those private sale sites. Their prices are very competitive, they have great selections, and the merchandise come to your doorstep. The only gripe I have is just their shipping is super slow. I purchased this Bill Blass Harrison Hobo from Gilt on April 10th and have not received it yet. I know it is supposed to take 2-3 weeks, but if you are a bagaholic like me you would know how it feels to wait for so long.
Retails for $795, Gilt price: $238
The sale starts on 4/29/2009 NOON EDT. Mark your calendars! Gilt Groupe is a “member only” private sale. If you are not a member yet, click Here for the invitation to the private sale.
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