Resale vs Consignment: The Best Way to Sell Your Luxury Bag
In the world of luxury fashion, owning designer pieces is a symbol of style and sophistication.
However, when it’s time to part with that bag you’ve adored, you might wonder: Should I sell it through resale or consign it?
As a first-time seller, making the right choice between resale and consignment is crucial to getting the best value for your luxury bag and having a great experience based on your expectations.
In this guide, we’ll explore both options and help you decide which is the smartest route for selling your high-end handbag.
How to Sell Your Luxury Bag: What Are Your Options?
When the time comes to sell your luxury bag, two main options come into play: resale and consignment.
Both have their advantages and drawbacks, and understanding how each works will help you make an informed decision.
What is Resale?
Resale is the process of selling your luxury handbag directly to a business in exchange for an agreed upon amount of cash.
Usually, the process is simple and quick. This takes the big factor of time out of the equation.
How Does Resale Work?
In a typical scenario, you would submit the item to the business including photos and a general description of the condition.
Once the item arrives to the business, you should expect to receive payment in a reasonable amount of time (think a few days) after the item has been checked for accuracy and authenticity.
What Does It Mean to Consign Your Bag?
Consigning a bag means you’re entrusting it to a consignment business or platform to sell on your behalf.
In exchange, they take a percentage of the sale price, and you receive the remainder once the item sells.
How Does the Consigning Process Work?
The consignment process generally follows the same cadence as the resale process except one important detail. You get paid after the item sells.
In exchange for patience, you will typically receive a larger payout as compared to the resale option.
Pro Tip: Make sure you're consigning with a business that sells products quickly and at a realistic price point - otherwise your item could be sitting around for a while.
What Percentage Do Most Consignment Stores Take?
When consigning your luxury bag, it's important to understand the commission structure, as consignment stores typically take a percentage of the sale price.
At Season 2 Consign, the commission split depends on the price of your item:
- Items priced up to $499: S2C takes 50% commission.
- Items priced between $500 - $1,499: S2C takes 40% commission.
- Items priced over $1,500: S2C takes 30% commission.
This means that as the price of your luxury bag increases, your share of the sale price increases as well.
It's important to factor in this commission when deciding whether to consign your bag, as it can affect your overall earnings.
However, consignment stores often offer a more seamless selling process with expert handling, authentication, and exposure to a broader market, which can help your item sell for a better price.
Resale vs. Consignment – Advantages & Disadvantages
Advantages of Resale
One of the main benefits of resale is the speed at which you can sell your luxury bag. If you own a highly sought-after bag that’s in demand, resale can often result in a quick transaction, allowing you to receive payment in just a few days.
The process is straightforward and hassle-free, with no waiting for the bag to sell.
You’re also in control of the sale, with a fixed price agreed upon upfront, so there are no surprises or commission percentages to worry about.
Additionally, resale offers a fast and simple way to offload your item without having to deal with the potential delays of waiting for the right buyer.
Drawbacks of Resale
While resale offers quick payment, the amount you receive could be lower than expected, as businesses typically offer a fixed price that reflects their profit margin.
Trust can also be an issue, as buyers may question the authenticity of bags sold through individuals rather than established businesses.
Additionally, even though the process is generally fast, resale may not be as convenient if your bag doesn’t sell right away, requiring you to market and communicate with buyers directly.
Advantages of Consigning Your Bag
Drawbacks of Consigning Your Bag
While consigning your bag can offer the potential for a higher sale price, one major drawback is the commission fees, which can range between 20-40% depending on the store and the bag’s value.
These fees reduce your overall earnings, especially if your bag is priced lower.
Additionally, consignment can take longer than resale. Even though your bag may be marketed to a broader audience, it may still take time to find the right buyer, meaning you’ll have to wait for the sale to go through before receiving your payout.
Resale vs. Consignment – Which Should You Consider?
Both resale and consignment offer distinct advantages. If you want to quickly sell your item, resale could be the right choice for you.
However, if you prefer a hands-off approach and trust a professional platform to handle the sale, consigning your bag may be the way to go.
Why Doesn’t Everyone Consign Their Bags?
Some sellers may prefer the faster profits of resale or simply feel more comfortable managing the sale process on their own. Others may not want to share the commission with a consignment store.
However, if you value convenience, authentication, and exposure to a larger audience, consignment can provide significant benefits.
Finding the Best Place to Sell Your Bag: Resale or Consignment?
When deciding between resale and consignment, consider factors like your comfort with managing the sale, how quickly you want the bag to sell, and your willingness to pay commission fees.
What Are the 7 Factors to Consider?
When deciding whether to sell your luxury bag through resale or consignment, several factors should guide your decision. Here are some key points to consider:
1. Control Over the Selling Process:
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Resale: If you prefer full control over pricing, listing, and negotiation, resale might be the best option for you. You get to set the price and handle communication directly with potential buyers.
- Consignment: If you’d rather avoid the hassle of managing the sale yourself, consignment offers a hands-off approach. The consignment platform takes care of the pricing, marketing, and the final sale process.
2. Price of Your Luxury Bag:
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Resale: For more affordable luxury bags or those that have a fast turnover, resale can be a quick and lucrative option. If your bag is a high-demand item, you may be able to sell it faster at your desired price.
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Consignment: High-end or rare items that may require more time to sell can benefit from the professional touch of a consignment platform.
Season 2 Consign, for example, specializes in authenticated, high-end luxury goods and may be better equipped to handle rare or designer pieces.
3. Timeframe:
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Resale: If you need to sell your bag quickly, resale platforms can give you immediate exposure. However, you'll need to handle negotiations and shipping, which may still take time.
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Consignment: Consignment can take longer, as the bag may sit in the store or online platform until a buyer is found.
However, the platform will handle the process and may get you a higher price if they are successful in finding the right buyer.
4. Commission Fees:
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Resale: Typically, when reselling, you only pay platform fees or transaction fees, which are usually lower than consignment commissions.
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Consignment: Consignment stores, like Season 2 Consign, take a percentage of the final sale price. While it varies by item price, it’s usually around 40-60%.
However, this commission covers the costs of professional handling, authentication, and exposure, which could lead to a higher sale price.
5. Authenticity & Trust:
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Resale: Reselling on personal platforms may not always offer buyers the same level of trust. Scams can happen, and buyers may be cautious about purchasing from private sellers.
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Consignment: When consigning, especially with a reputable platform like Season 2 Consign, your item undergoes an authentication process.
This reassures buyers that they’re purchasing genuine, high-quality goods. Trust and transparency can lead to higher offers and quicker sales.
6. Condition of the Bag:
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Resale: If your bag is in pristine condition, resale can be a great option, as buyers may be willing to pay close to retail value.
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Consignment: Even if your bag shows signs of wear, consignment platforms like Season 2 Consign can often still accept it for sale, particularly if it’s an iconic, high-end piece.
The platform will professionally assess its value, factoring in any wear and tear.
7. Target Market:
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Resale: Resale platforms typically offer a broad audience, which can lead to quicker sales, especially if the item is in demand. However, the audience may be less targeted and more general.
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Consignment: Consignment platforms, on the other hand, have a more specific, targeted audience—luxury buyers who are looking for authenticated, pre-owned items.
If your bag is rare or designer, consignment stores may attract buyers who are specifically interested in high-end products.
Should You Decide to Consign, What’s Next?
Once you’ve chosen consignment, it’s time to prepare your bag for the process. Make sure your bag is in good condition, clean, and authenticated. After that, it’s as simple as sending it to the right consignment platform.
Why Choose to Consign with Season 2 Consign
At Season 2 Consign, we offer authenticated consignment with a focus on luxury and sustainability. We carefully curate each item, ensuring it meets our high standards before listing it for sale.
Our team handles every step of the process, from authentication to pricing, leaving you with peace of mind and a smooth selling experience.
Whether you choose to resale or consign your luxury bag, understanding the pros and cons of each will help you make the best decision.
Consignment platforms like Season 2 Consign offer the benefit of professional handling and trust, while resale gives you control and potentially faster profits. Whatever route you choose, the key is ensuring your bag finds a new home where it can continue to shine.
