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!
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!