Selling Your Designer Handbag: Where Could You Net the Most Cash?
-- Maybe it was a gift or maybe you splurged, but if you have a designer handbag you’re not using, it’s like keeping a pile of money in your closet. But if you want to resell a nice bag, which resale option could net you the most?
LOCAL CONSIGNMENT SHOP
Our test bag is a Kate Spade quilted tote that originally retailed for $458. It’s not new but it’s in immaculate condition. I take it to my local consignment store and they inspect it.
Lynn Nice, owner of Labels Luxury Consignment in Walnut Creek, California, explains, “Consignment stores usually set their own price and offer the seller a portion of the final sale amount.”
In the case of my tote, they price the bag at $140 and offer me a 50/50 split. If they were to sell the bag at its full price, I would walk away with $70. The massive upside for me is that I drop it and I’m done. All I would have to do is come back later to pick up the check. An added bonus is I do a little shopping while I’m there.
“Consignment shops offer buyers and sellers a community, people to talk to about the products, and a full circle experience – that’s the beauty of a consignment shop,” Nice says.
EBay has the largest reach of any resale site in the world, so I list my bag in an auction format, giving it five days to reach as wide an audience as possible. I research and see that this exact purse, a used Kate Spade Astor Court quilted tote (various colors) has sold for between $66 and $182 in past eBay sales.
Of the 15 sold listings I could find for this tote, the average price was $123. But there’s one problem, as Nice explains, “Consumers are wary about counterfeit purses on eBay.”
Sellers who have sold lots of items and have earned a great rating command the highest prices. People trust they are selling legitimate goods. But people who don’t sell a lot of items or who have a lower seller rating may not be able to command as high a price. I’ve never sold a purse on eBay and I haven’t sold anything in the last two years. Between that fact and my very amateur photos of the bag, my auction does not garner a ton of responses. Five people were “watching” it, but only one person bid and she won the auction with a bid of $75.
EBay takes a 10 percent cut of my sale and I net $67.50 for my bag. If I had a better seller rating and commanded the average of $123, the net, minus eBay’s 10 percent, would have been $111.
One note: eBay’s policy is to offer full buyer protection against counterfeits. If an item is advertised as being authentic and it is not, eBay will refund the buyer the full cost of the purchase.
ONLINE CONSIGNMENT SITE
Sites like Fashionphile, Twice, The RealReal and Poshmark offer a fashion only marketplace for buyers and sellers. I search Poshmark for my Kate Spade Astor Court bag and see that eight similar items have sold on the site for $95 to $250, with the average at $158. Poshmark takes a 20 percent cut (some of the others take an even bigger cut) so my final net, if I had gotten the average $158, would be $126. That’s $58.50 more than I got on eBay.
Bottom line, specialty consignment sites may net higher returns than eBay and likely more than your local consignment shop, but for the least hassle (and the most fun shopping), dropping a used bag off at your local store may be the easiest choice.
Kate Spade slump: Buyers prefer second-hand luxury to new handbags that cost less
Kate Spade is grappling with declining sales as shoppers snub moderately priced designer purses in favor of second-hand premium handbags that would cost two or three times as much new.
The brand's sales at stores open at least a year, a benchmark in the retail industry, fell 16 percent in the three months through September, parent company Tapestry said Tuesday, Net income across the New York-based firm, which also owns Coach and Stuart Weitzman, tumbled to $20 million, or 7 cents per share, according to a statement.
Handbags hang in the window of a Kate Spade & Co. store. (David Paul Morris/Bloomberg via Getty Images).
Revenue at Michael Kors, once sought after for tote bags with the signature MK logo and oversized statement watches, is likewise grappling with changing consumer tastes. Its sales slid less than 5 percent in the three months through June, parent Capri Holdings said in a statement, and it will update investors Wednesday on its financial performance through September
|CPRI||CAPRI HOLDINGS LTD.||52.49||-0.12||-0.23%|
|LVMUY||LVMH MOËT HENNESSY LOUIS VUITTON SE||155.908||+1.52||+0.98%|
|REAL||THE REALREAL, INC.||12.39||-0.71||-5.42%|
Handbag and tote sales in the U.S. have plummeted more than 20 percent over the first eight months of 2019, compared with three years ago, according to market research firm NPD Group’s Consumer Tracking Service.
The secondhand market for luxury purses, meanwhile, is booming. The RealReal, an online marketplace for reselling luxury handbags, clothing and jewelry, reported its revenue rose 55 percent to $80.5 million, from $51.8 million a year ago, with the average order value rising to $438 compared with $418 in 2018, the company said.
And Poshmark, a marketplace for new or used clothing, shoes and accessories, reported that sales of designer handbags on the site have increased by 53% in 2019, with top-selling luxury brands including Louis Vuitton, Gucci, Chanel and Burberry. Many originally sold for $3,000 or more
The site even offers Posh Authenticate, a free service that ensures bags costing more than $500 aren't counterfeit.
“The growing resale segment is both a threat and an opportunity for the handbag market, and I expect renting will gain traction in handbags during the next few years,” NPD analyst Beth Goldstein, said in a report.
Shoppers don’t just want a bag with a logo, she added. They’re looking at a brand’s engagement in social and environmental issues as well as quality, function and versatility.
LUXURY HANDBAGS GET BIG RETURN ON THEIR INVESTMENT
Kate Spade, founded in 1993, became an instant hit among Baby Boomers and Gen Xers who saw the chic shoulder bags as a status symbol. By 1998, the business was rolling in $28 million a year in revenue, establishing itself as the “it” brand for working women attracted to the moderate price point, between $100 and $400. At the time, Coach was the only major competition.
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Pre-Owned Kate Spade Gold Sparkly Leather Tote Handbag with Dustbag Super Cute!
$35.00Buy It Now10d 3h, $10.00 Shipping, eBay Money Back Guarantee
Seller:pipster1128✉️(364)100%, Location:Chicago, Illinois, Ships to: US, Item:193329520245Pre-Owned Kate Spade Gold Sparkly Leather Tote Handbag with Dustbag Super Cute!. Pre-Owned Kate Spade Gold Sparkly Leather Tote Handbag with Dustbag, Super Cute!. Condition is Pre-owned. Looks terrific! Outside has some wear on the bottom corners (see photos)Dimensions: 13" x 10.5" x 6" Handles are rolled gold leather and the drop is 7" but it will slouch lower alsoDrawstring around the opening4 metal feet on the bottomInside has one large zip pocket on one side and two slip pockets on the otherInside fabric is stained from a spill but there is no odor whatsoeverNo returns acceptedShipped with USPS Priority MailNo international shippingCondition:Pre-owned, All returns accepted:ReturnsNotAccepted, Brand:kate spade new york, Material:Leather, Style:Tote, Department:Women, Color:Gold, Size:Medium
PicClick Insights - Pre-Owned Kate Spade Gold Sparkly Leather Tote Handbag with Dustbag Super Cute! PicClick Exclusive
- Popularity - 1,027 views, 1.6 views per day, 629 days on eBay. Super high amount of views. 0 sold, 1 available.
- Price -
- Seller - 364+ items sold. 0% negative feedback. Great seller with very good positive feedback and over 50 ratings.
1,027 views, 1.6 views per day, 629 days on eBay. Super high amount of views. 0 sold, 1 available.
364+ items sold. 0% negative feedback. Great seller with very good positive feedback and over 50 ratings.
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How to Authenticate a Kate Spade Handbag
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Kate Spade is now a globally-recognized brand, selling clothing, shoes, handbags, accessories, and even homegoods in a rainbow of colors and playful patterns. You wouldn’t know it, but Kate Spade started off small with a focus on one thing… handbags!
After graduating from Arizona State University with a degree in journalism, Spade moved to New York City where she soon became a senior fashion editor and head of accessories at Mademoiselle magazine. Spade noticed that the accessories market lacked practical, stylish handbags for the everyday woman. And Kate Spade, the brand, was born. She started off with six silhouettes, then opened her first shop in 1996 with great success. Fast forward to today, the brand has 450 stores worldwide and the colorful lifestyle brand continues to grow.
With popularity comes copycats and Kate Spade’s iconic styles are often attempted. Before you buy a Kate Spade bag secondhand, make sure you know what to look for. Quality is all in the details.
Authentic Kate Spade Handbag
1. Exterior Material
Kate Spade has used a variety of different materials for their handbags. Whether it’s Saffiano leather, suede, canvas, or wicker, the material should always reflect the brand’s quality. Saffiano leather should be stiff with a distinctive crosshatch texture and the finished edges should be clean and precise. Nylon and canvas should have a smooth texture, free of bumps and inconsistencies.
Exterior of Handbag
The lining of authentic Kate Spade handbags will vary, depending on when the bag was made, but the most common is nylon. The nylon lining should be smooth with consistent stitching. Since the lining colors and patterns have changed over the years, this will not be a solid indicator of authenticity.
The stitching on Kate Spade handbags should be straight, consistent, and evenly spaced. Though dependent on style, the stitching is usually the same color as the rest of the handbag.
Exterior Handbag Stitching
The hardware on authentic Kate Spade handbags will be either gold or silver tone and all of the hardware should match. Depending on the date of production, some bags have engraved hardware and some do not. The hardware should feel heavy and high-quality and should never tarnish or rust. More often than not, leather bags will have small metal feet, each no larger than a dime. Zippers should be unbranded with smooth bottoms.
5. Logos and Stamping
The logo and stamping on Kate Spade handbags is the easiest way to assure authenticity. Kate Spade uses four types of labels: embossed, fabric, stamped, and metal inlay. They generally appear on the front top or bottom of a handbag. Lettering on all labels should be lowercase (other than “NEW YORK” which is always right under “kate spade”), the same size, and the same font. If the logo ever features uppercase letters it is 100% a fake. Fabric labels will always be attached with real stitching, and will never be glued on. If the label is glued on, it’s definitely a fake. Leather stamps will display the same logo as fabric labels. Logos on every material should be straight and clear with consistent spacing between each letter.
Kate Spade Logo
6. Country of Origin Labels
Authentic Kate Spade handbags have been produced in a total of eight countries - USA, Italy, China, Taiwan, Dominican Republic, Indonesia, Vietnam, and the Philippines. Many handbags produced before 1996 will not display an origin label, but all handbags produced after 1996 will have one. The majority of nylon bags made between 1996 and 2002 were produced in the USA (some made in Taiwan) and will have a tag featuring an American flag with “MADE IN USA” in all uppercase under the flag. Most leather, suede, and calf hair bags are produced in Italy, but the “made in Italy” tag will vary. The majority of Kate Spade handbags made after 2002, with the exception of leather handbags, are made in China and Indonesia. Each origin tag is usually sewn into the seam of the interior zip pocket.
--- This post is not affiliated with Kate Spade and Kate Spade is not responsible for its content.
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if you know us, then you know handbags are kind of our thing. they're a major part of our history—our namesake, kate brosnahan spade, started designing her own when she couldn't find the one she wanted on department store shelves—and since she made our first six silhouettes in 1993, our assortment has grown to include new purses in so many different shapes, styles, materials, colors and patterns. though they all have a unique flair, they all have one important thing in common: they're intended to spark joy for the woman who wears them.
our tote bags hold your notebooks, computer, sunglasses, running sneakers, snacks...in other words, they fit your life. then there's satchels for both business and pleasure, or when you're having one of those days where you just feel like looking extra polished, and a structured bag will do just that. our clutches were made with your romantic date in mind...or a spontaneous night out on the town with your girls. a crossbody bag comes in handy when you're juggling your hot oat milk latte and taking a call.
btw, these would look really good with your new handbag... shop our new arrivals, including new wallets to stash inside. (we all need one of those.)
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