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What's Trending in Luxury Resale in 2024

For most, purchasing a luxury item in 2024 requires more than swiping a credit card. It can feel like a scientific process that takes into account not just the present, but the future of the item — specifically, its timelessness and resale value. Just like you would do your research before investing in stocks or real estate, the same goes for fashion.

The luxury items you’ve probably understood as the “best investments” (for example, a Birkin or a Chanel bag) still hold weight. If you’re considering a purchase with the understanding you’ll eventually resell it (as many do), classic pieces in solid hues are a safe bet. But there’s a market for rare and more unique items. However, according to Rachel Glicksberg, women’s fashion and new initiatives lead at The Real Real, “the decision of what to invest in is a personal one. What works for one person’s closet may not work for another.”

“My universal advice would be to steer clear of any items that are too trendy (think rhinestone-underwear-as-pants),” she says. “Look into items you’ll be able to wear often and would be excited to pull out of your closet for years to come.”

How Is Value Determined in Resale?

The demand for an item plays the biggest role in determining its value on the resale market, according to Sophie Hersan, co-founder and fashion director of Vestiaire Collective. That and rarity tend to be the most important; desirability is also a factor, as a result of a celebrity moment or viral TikTok.

When Beyoncé dropped “Summer Renaissance,” searches for Telfar — which is mentioned in the song — went up 85%, according to The Real Real’s Glicksberg. A more recent example of this phenomenon: “Jeremy Allen White and his stylist Jamie Mizrahi have been adding brooches to his award show circuit outfits, and we’ve seen a huge increase in brooches demand by +160% year over year,” she says. Also, “searches for Calvin Klein [were up] after that famous billboard in Soho.” (IYKYK.)

Runway shows and the fashion news cycle can also determine what’s “cool,” and give value to pieces from certain brands. After Chemena Kamali‘s debut at Chloé in February, there was a 30% increase in searches for the brand on The Real Real, with sales being up month over month by 130%. Items made under a specific creative director (think Daniel Lee for Bottega Veneta or Phoebe Philo for Celine) also affect the price, Glicksberg says: “Desirability, availability and value are intrinsically linked. When a popular creative director leaves their post, their work under a specific label becomes almost limited-edition, increasing both desirability and value.”

What About an Item’s Condition?

Charis Márquez, vice president of fashion at eBay, puts it simply: “The better the condition, the better resale price.” It doesn’t take away from the item’s demand, though.

Lara Osborn, vice president of procurement and authentication at Fashionphile, tells Fashionista that, since she’s worked at the company, Hermès Birkins rated in the “good” condition (the lowest quality the platform will accept) sell out faster than newer, “never-breathed-on, fresh-from-the-store” Birkins. This could be attributed to the lower price; it’s also part of a larger consumer trend: The Real Real’s 2023 Resale Report found that demand for fair-conditioned items (the lowest condition it’ll accept) was up 130% last year.

Ultimately, an item that isn’t in the best condition but has a lower price is more accessible to Gen-Z or younger customers, Glicksberg says. And even if, for example, you purchased a bag with scuffs or cracks in the leather, it does have the potential to be restored and therefore gain value.

“Aesthetically, I see the Olsen twins with their beat-up Birkin,” she adds. “And that’s an aesthetic in its own right.”

What’s Trending in Resale Right Now?

The luxury resale market has been experiencing the Y2K resurgence we’ve seen in fashion. On Fashionphile, 20% of Fendi baguettes (you know, the one that Carrie Bradshaw got stolen in “Sex and the City”) are sold within the first day of listing; on Rebag, the bag has a 113% retention rate.

As for the era’s most investment-worthy pieces? Osborn and Glicksberg both mentioned the Bottega Veneta Intrecciato Hobo Bag; Márquez and Osborn agreed on the Dior Saddle Bag; and Glicksberg and Márquez mentioned Tiffany & Co.‘s Elsa Peretti Bone Cuff.

While some designers have revived classic styles from that time (see: Prada‘s re-edition shoulder bags), you can find the originals for less on the secondhand market — “perhaps in under-$500 range,” per Glicksberg.

Another popular trend in resale right now? “Searches on eBay globally for clean, understated styles like The Row‘s Margaux and Sofia bags were up over 1,200% and 800% in January 2024, compared to January 2023,” Márquez says.

What to Buy in 2024

According to Glicksberg, purchasing outside of the season — like snagging boots and coats during the summer — can help with scoring items for less. High-value items such as handbags, jewelry and watches don’t play by the same rules. When buying secondhand, though, if you see a great deal, it’s worth snagging it before someone else does.

Almost all experts agreed that houses with history — like Louis Vuitton, Chanel and Hermès — hold the highest resale value. According to Rebag’s 2023 Clair Report, the Hermès Constance, Hermès Picotin, Chanel Deauville Tote and Louis Vuitton Neverfull retained an average of 127%, 120%, 114% and 136% of their value, respectively.

“Hermès handbags continue to reign supreme as a top luxury investment,” says Glicksberg. “Goyard and Chanel handbags follow suit.”

Aside from the recognizable logos and silhouettes, Osborn explains that the reason these items hold their value is their quality: “If you use materials that are subpar, and there wasn’t a lot of love and care and thought put into the construction, you just literally can’t see these [items] decades later because they have fallen apart.”

When it comes to new players in the investment game, Osborn anticipates bags from Loewe and pieces from Phoebe Philo will be covetable in years to come. These items may feel “trendier” now, so it may take time for their value to grow, she argues. Take the revival of Miu Miu as an example: “For a while, we were kind of hoping that items we’d buy from Miu Miu would sell in good time — we’re starting to see that there’s some really nice resurgence in attention to that brand.”

Márquez concurs that handbags from brands Loewe, Khaite and Miu Miu are ones to pay attention to. Jewelry from Van Cleef & Arpels, Chrome Hearts and Mikimoto are also ones to watch on eBay. “These were top growing brands on eBay globally, based on the number of sold items in the last year,” she says.

In the watch space, styles from Rolex and Cartier tend to hold their retail value and are highly sought after. Vestiaire Collective’s Hersan highlights the Datejust silhouette from Rolex and the Love bracelet from Cartier, specifically; The Real Real’s Glicksberg notes that 75% of Cartier’s Just un Clou styles sell within 30 days of listing them on the platform.

The great thing about luxury fashion investments? They can be temporary.

“You don’t have to commit to something forever,” says Osborn. “There are plenty of options when you want to move on and trade something in or sell it because you want to treat yourself for a vacation.”

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Source: Fashionista.com

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