Buying luxury goods is becoming an investment — provided consumers buy enough to hold their value.
Resale of a CHANEL double C necklace can net a consumer more than 37,000 yuan, while resale of a Hermes Birkin bag can net a consumer more than 25,000 yuan, according to the second-hand luxury goods Consumption List for the first half of 2021 released by second-hand luxury e-commerce platform Hongbulin on Aug 10. Resold Hermes Kelly bags also netted consumers more than 10,000 yuan.
In general, luxury goods that are more popular with consumers have higher resale values. It is worth noting that in the international market, or in other words, in different second-hand luxury e-commerce platforms, the most valuable bags, watches and jewelry are not exactly the same.
The RealReal, a second-hand Luxury Consignment platform in The US, released The 2021 Luxury Consignment Report in January 2021. The Report summarizes The brands and specific goods with The highest resale value, with some differences from Redbold’s list.
As for bags, Chinese consumers prefer classic styles that are still sold at the counter, which hold their value the most.
The top three bags were Chanel‘s Classic Flap, GUCCI’s GG Marmont and Louis Vuitton’s Speedy, while Hermes’ Birkin and Dior’s Lady Dior rounded out the top five, according to Redbold’s list.
Foreign shoppers are more likely to buy medieval bags that were in fashion around 2000 and have recently been reproduced by luxury brands. Resale prices for such bags have risen significantly in the past year.
According to The RealReal report, resale prices for Dior’s medieval saddle bag rose 56 per cent in 2020, FENDI’s medieval Baguet 37 per cent, And PRADA’s medieval Hobo bag 27 per cent. The resale price of LV’s medieval mahjong bags rose 25 percent year-on-year.
For watches, professional watchmaking brands are more popular than fashion house brands.
Redbrin’s list showed that the top five most popular watch brands among its users were OMEGA, Cartier, Rolex, LONGINES and Chanel. Rolex ranked third because Omega and Cartier watches are more popular with women, and Redbrin is a platform with a majority of women, he said.
Abroad, Rolex still dominates the resale market for watches. According to The RealReal report, Rolex is The top-selling watch brand on The platform, and is The source of five of The 10 watches with The highest resale price growth in 2020.
Specifically, in 2020, the resale value of a Rolex Explorer Explorer watch was up 15 percent year on year, and the average resale price of a Rolex GMT Master II Batman was 1.7 times the original selling price.
In terms of jewelry, Chinese consumers prefer classic big-name jewelry, and in recent years, medieval jewelry has been on fire, and many medieval jewelry are also highly value-preserved.
The top five most popular accessory brands are Chanel, BVLGARI, TIFFANY & CO., Gucci and Cartier, according to Redbrin’s list. Chanel can be ranked first, can not be separated from the excellent preservation and appreciation of ancient jewelry performance.
Foreign consumers are also keen on The brand classic, The RealReal report shows that Van Cleef & Arpels four leaf lucky series, Cartier LOVE series, Tiffany T series is The most valuable jewelry series.
But some cutting-edge jewelry brands and fashion jewelry are also holding their value in the luxury resale market overseas.
Resale prices for Suzanne Kalan, Mizuki and Temple St. Clair — three upstart jewelry brands — rose 25 percent, 15 percent and 12 percent, respectively, in 2020 from a year earlier, according to The RealReal report. Resale prices for jewellery from Cecilie Bahnsen, The Vampire’s Wife and Collina Strada rose 55 per cent, 28 per cent and 13 per cent, respectively, in 2020 compared with The same period last year, although they are fashion brands.