How to Value Vintage and Luxury Bags

burberry floral purse

The market for vintage or used luxury goods has become big business in the past decade. Do you want to cash in on your pre-loved Louis Vuitton or Gucci bag? We are here to tell you what to look for and how to find out the value of your handbag. 

There are many factors in determining the value of vintage and luxury handbags.

Here are a few things to consider when valuing a vintage bag:

Brand/Designer & Style

The most important first step is to determine the brand or maker of your bag. Also, find out what model or style name. These two pieces of information are key when determining value of vintage and new bags. Some of the most sought after brands include Louis Vuitton, Hermés, Chanel, Gucci, Givenchy, Saint Laurent, Stella McCartney, Balenciaga, and Prada, to name but a few. 

Some brands retain over half of their original purchase price, with a few even selling for more than original price! 

A handbag will certainly be more valuable if it has retained original accessories, such as leather name tags, dust bags (or original packaging), padlock and keys, and pochettes. Try and keep everything that comes with your bag when you take it home from the shop. Use it to store your bag when you’re not using it!

Condition

The overall condition of a bag plays a significant role in the value of an item, sometimes decreasing its value by over 50%. Buyers want to purchase a bag in nearest-to-new condition as possible, without paying retail price, of course. Buyers look for tears and wearing in the leather, with damage to the exterior of the bag hurting the value the most. 

Buyers understand that some usual wear and tear happens when using a bag, but beware, signs of hard wear and damage will decrease the bottom line. Any repairs undertaken should be done by a professional restorer or by the original retailer or maker. 

Should I Get an Appraisal?

Yes! The most important step in determining the value of your bag is, to seek the eye of a luxury handbag expert, by obtaining a professional appraisal. This is the only way to attain a truly accurate estimation for the worth of your item. A trained professional knows what to look for and can determine the authenticity and value of your handbag.

There are luxury bag and accessory experts here at e-ValueIt that are ready to help you determine an accurate value for your vintage bag!

How Do I Sell My Antiques?

It’s a daunting task to look around and see all of the things in your home that aren’t loved/wanted/needed and wonder “How do I get rid of it?”. It’s easy to trash something, but I’m here to tell you, there is a better way – for you and the planet. Keep your antiques, collectibles and curios out of a landfill and turn them into cash! But, where to start? 

There are many factors in deciding where and how to sell your item – what you decide will ultimately affect how much money is in your pocket!

Here are a few ways to cash in on your unwanted things:

1. Sell on eBay, Poshmark or another online platform.

These platforms exist for a reason – people use them! Almost anything can be sold on eBay, but determining if your item will have the greatest success on eBay, is a little trickier. As a general rule, items that can reach the largest targeted audience will have the best result. For example, are buyers of a 4-carat diamond ring usually on eBay or at auction? Do buyers of vintage stamps shop more on eBay or at auction? And, how do you know what to price your item? Remember, you have to price your own item if you use an online platform for selling. 

e-ValueIt can take the guesswork out of selling online. We can help you determine where to sell your item and for how much.  

2. Sell through an auction house.  

There are many advantages to selling at auction, one of which is that a lot of the guesswork is taken out. Experts identify, estimate and advertise your item. You do pay for these services though. Auction houses charge the seller up to 25% of the sale price for their services, in addition to photography and advertising fees. You also sell on their timeline. The auction house determines when the item will be sold, and after the sale, you have to wait for the check. From the beginning of the selling process with an auction house, until the money is in your account, can take 8 weeks, at a minimum. 

e-ValueIt has appraisers on staff who have worked for major auction houses in the U.K., Europe and America. We give you access to these professionals, without any obligation to sell with us. 

3. Sell on consignment.

Consignment shops and pawn brokers can sell your furniture, jewelry, clothes, and other items. They price the item, but they also take a considerable portion of the sale price, sometimes, up to 40%! Selling on consignment is not recommended if you need money fast. Consignment shops typically do not give you any money until your item sells, which could be a year or more. Pawn brokers operate differently and will buy your item outright, but remember, they are looking to make a profit. What they pay for your item isn’t exactly what it’s worth.

 

Whatever avenue you take to sell your item, we recommend you START with an appraisal. Knowing the fair market and replacement values of your antique, collectible or jewelry will help you make the best possible choice when it comes to selling.

Are There Really Free Appraisals?

Antique and Vintage Radios

Are There Really Free Appraisals?

The short answer is, yes, you can get a free appraisal. The question to ask yourself is, “Why is someone giving me a free appraisal?”

Auction houses provide free appraisals because they are trying to get your business. That is simply how they make money. Someone sends a photo of an item, the specialist provides an estimate (usually only if it’s something the auction house wants to sell) and then the auction house tries to get you to sell that item through them. 

There is nothing wrong with this practice and it’s one that many of our appraisers, including our founder, has participated in (see photo), but there are some inherent issues with free appraisals. 

The wait for an appraisal can be as much as six weeks with some auction houses. EVI Founder, Corey Cripe Kuchel recalled, “I have worked at auction houses that receive more than 200 appraisal requests per day. Sometimes it’s up to one person to handle all of this volume, so things inevitably get stuck in the pipeline.”

At e-ValueIt, we guarantee that you will receive an appraisal from us in 48 hours or less, or your money back. No more waiting around to hear back from an auction house!

There is an unspoken rule, “Don’t trust an appraisal from someone who wants to buy your item.” One might also be cautious in trusting an appraisal from someone who wants to sell or otherwise financially benefit from your item. 

e-ValueIt does not benefit from the value of your item in any way. Our appraisals and valuations are completely unbiased. We want to help our clients monetize what they have, in part, so it doesn’t end up in a landfill – not because we are trying to make money off of it!

The takeaway is, while there are indeed free appraisals, is it worth it? For the same amount of effort (and less than the cost of a fast food meal), you can get an unbiased, honest appraisal in under 48 hours with e-ValueIt.

Start your appraisal now!

Photo of e-ValueIt Founder, Corey Cripe Kuchel, providing an appraisal of a chair at a free appraisal fair.
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