When to buy designer bags brand new vs preloved (secondhand)
Let’s admit it. If you are a luxury lover like myself, you have an ongoing wish list of designer bags, shoes, etc., and saving up to buy your next item. We can talk about so many different luxury items, but I want to focus on designer bags here.
(disclaimer: I know this is a first world problem, and there are much more important things in life to be concerned about. However, if you are reading this, that means you are looking to distract yourself from all the craziness in the world and thinking of beautiful, luxury items to make your day more positive. I’m with you; now, let’s get right into it.)
With major price increases that happen twice a year for some of the biggest luxury brands, you often wonder if the items are truly worth the price tag. I get it. The steep price increases in recent years has led to the growing popularity of the resale market.
The resale market for designer bags has been booming with Fashionphile, Rebag and The RealReal getting more popular than ever. In fact, this year due to the lockdown, which closed many boutiques and resulted in limited access to the vast majority of shoppers, people have been turning to online resale sites where they can still get their hands on the bags of their dreams. Often, shoppers look to the resale market for discounts, but in 2020, stores like Fashionphile were the only way they could actually purchase bags safely without leaving their home. Regardless, lockdown or not, whether to buy a bag brand new vs preloved is a hot topic that is constantly being debated in the luxury community so I wanted to talk about it here.
Each luxury brand has its own unique appeal and pricing strategies, which affect their resale prices. For the sake of our discussion and per my own personal preference, let’s look at Chanel.
Recently, I had a (first-world) dilemma. My husband wanted to buy me a Chanel bag as a big “reward/celebration prize” for reaching my goal weight (it was 30+ pounds I had to lose, y’all. Working out + eating healthy) and I wanted to hit my goal in less than 6 months. Then, I realized that there’s a price increase that often happens in October/November each year for Chanel so my timeline got moved up to like 3–4 months (that’s a whole another story). Anyways, I wanted to see what bags I am interested in. Of course, being a Type A person, I always make a list.
I was debating between getting a tote (vintage or from recent collections) versus a brand new coco handle in chevron. I thought a vintage tote would be a versatile piece I could wear to work and other places that fit all of my items; at the same time, I thought this is such a special occasion that I should think about buying something from the boutique. Ultimately, I chose a mini coco handle “so black” in chevron. The whole experience of deciding how, when and why I chose to go with a brand new bag directly from a Chanel boutique vs resale market inspired me to write this.
Here are the factors you should consider when deciding whether to go brand new vs preloved:
1. Price
This seems like an obvious one, but it really depends on the type of bag you want. In theory, people would choose to go to a secondhand market to get a bag they want for a much less price than what they would pay in a boutique, right? Well, that’s not always the case. For highly desirable, super popular Chanel bags such as mini coco handle, square mini, etc, the resale sites actually have higher markups than the actual retail price so you will end up paying more… sometimes upwards of $1500 more! Why? It’s supply and demand. Chanel is creating scarcity by producing limited # of bags each season and hence as some bags get super popular, there’s not enough supply that can meet the demand. Some think they do this intentionally.
So for instance, for the mini coco handle so black (by the way, all black Chanel bags which they call “so black” are even more limited and are quite pricey in the secondhand market and even in Chanel boutiques, they cost more for the same model), when I looked in the secondhand market, they cost anywhere between $500–1500 more than the actual MSRP!! Are you kidding me?!
I think the whole point of going to the secondhand market is to save some money. I know that square minis are super hard to come by, but it simply just doesn’t seem “fair” to pay more than retail to buy what is essentially a “used” bag. However, if you have been hunting for THE ONE and the only way to get your hands on that is through the resale market even if it means paying more, by all means, do what your heart desires!!
Verdict: do your research, build relationships with your SAs and get your bag in the nearest Chanel boutique if the resale market doesn’t give you much discount!! I recommend you buy preloved items only if you can save tons of money or if it’s an extremely hard-to-get item that you’ve been hunting for a long, long time.
2. The “Experience”
Walking into a Chanel boutique is a beautiful experience — I love how shiny everything is and looking at what’s new this season. I love enjoying a glass of champagne while shopping. I love trying on new shoes and bags and seeing what will work for me and mentally adding things to my wish list. I especially love that moment when they wrap it up and put that camellia on top of the beautiful black box and give you a beautiful black shopping bag with yet another camellia that says “CHANEL”. You walk out, feeling like a million bucks and have people stare at your bag because they know you just had THE CHANEL EXPERIENCE.
I’ve gone to several Chanel boutiques around the world including the OG 31 Rue Cambon in Paris, Copenhagen, the biggest one on Bond Street in London, just to name a few. My go-to is the San Francisco boutique because a) that is the only standalone boutique near where I live and b) service is excellent. I also love the Chanel store inside San Francisco’s Neiman Marcus! They are quite nice! (I can recommend an AMAZING SA!!)
Anyways, I digress. If you are spending $$ on your next bag, I think getting the full boutique experience is once-every-few-years-experience. Let’s be real, most of us aren’t buying a new bag every year. Well, if you are, then BRAVO :)
So if that experience is important to you, by all means, go to the boutique. However, if you are able to get an amazing deal in the preloved market AND you a) already had the boutique experience or b) don’t care for it, then I say get it online!
Now, there are many pros of buying a bag on sites like Fashionphile. You can do it on your own time. There’s no one watching you and you can see as many pictures as you can, look at all kinds of bags listed on the site and see the price you will pay vs what it retails for. I say it’s an experience that we are quite familiar with as many of us do shop online, even more so now than ever before.
The experience is vastly different, but I have to admit, I enjoy both. It really depends. Also, I know that some people have had rather unpleasant experiences inside Chanel boutiques with not-so-nice SAs so if you want to avoid that drama, then by all means, spend your hard-earned money without all the fuss online.
Verdict: if it’s your first Chanel purchase, go have that fabulous boutique experience! Even if it’s your second, third or even your tenth bag, I say enjoy the whole experience. You are spending $$$$, why not get the full royal treatment?!
3. Less pressure, easier return policy?
The preloved market has one huge advantage: generous return policy. Some shoppers say they feel the pressure to buy something or “hurry up” when they are shopping at the boutiques. I get that, but I also don’t go to boutiques just to browse (I just don’t like to shop without having something to buy… I don’t shop often. I shop with a purpose).
When you buy things on Fashionphile or Yoogi’s Closet, they have a 30-day return policy. Once you get your bag and realize it’s not exactly what you thought it was, then you can always return, hassle-free, no questions asked as long as you don’t take off the tag that’s attached to their items. I also love Fashionphile’s packaging so it’s such a lovely experience when you get the package in the mail.
I’ve heard from some luxury shoppers that they felt the pressure to buy, then came home and realized they don’t want to bag after all. When they went to return the bag, the SA or the store manager was not too thrilled. If you aren’t 100% sure, don’t ever feel like you have to buy something.
But when it doesn’t feel right, you should be able to return, no questions asked.
Verdict: preloved market wins big time here!
With all things considered, at the end of the day, YOU DO YOU. Do what makes you comfortable and happy.
Consider these tips as guidelines for when you are in the market to purchase your next Chanel bag. For vintage ones, obviously you have no choice but to go to the secondhand market (trust me, I’ve found amazing deals on vintage items on Fashionphile!!). For classic items that are still being sold in the boutiques, do your research, know what the current retail price is and see what makes sense for you.
Speaking of price, I will be back with my next article focusing on price increases and whether or not you should feel pressured to buy your bag because of annual (semi-annual, in recent years) price increases.
HAPPY SHOPPING!!
