Lessons learned from selling my designer bags at a loss 😭 💸

About this channel: Just a business professor sharing her thoughts on life, learning, and luxury. This channel occasionally contains affiliate links.
Turning my clutches into crossbodies: • Converting my designer...
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[@Breonaleonard]

I always say designers handbags is NOT an investment. I can’t stand when people say this. Consignment stores are the only ones who benefit from selling these goods. I have 4 really expensive forever designer bags now, including a work tote. I’ve definitely sold and lost money on several bags in the past. Now I only buy bags that are FOREVER in my eyes and that I will use all of the time!

[@abriefcaseofluxury]

SAME!!!

[@karo1922]

People say its an investment to justify themselves and their impulse spending 😂 I agree with you on buying only forever bags, I do the same.

[@lluvbagel9875]

I totally agree that it's not an investment. Although, sometimes you can make some profit when you sell it (certain brands & style) at the right time and buyer.

[@dinavienna]

THIS. Veerry few bags keep their value. Fewer increase In value. Basically the only safe bet is a Birkin or Kelly but you typically need to spend so much at h that you don’t make all your money back selling it at a premium. For other bags especially cc - you never know for sure which bag is going to be a unicorn you can sell more expensive later even with wear. It’s a lottery

[@Nickysmom]

I sold my medium classic Chanel in beige and the amount I received was double what I paid, (it sold for more). I regret selling it anyway. But since then have consigned at least 5 more bags because why would I keep bags I never use. If I had the room I’d prefer to keep them all

[@jesseeec]

Social media brainwashed us into thinking bags are “investment”. It’s not. It’s a sunk cost. It’s like our clothes and shoes…good condition stuff we will likely to get something back (thredup, TRR etc) but we don’t expect to recoup all of the cost. That’s the way we need to think of handbags

[@abriefcaseofluxury]

YES - I'll admit, I fell for that trap too, and it made me want to aim "higher" and get the even more expensive bags, which made them even bigger financial mistakes 😅

[@cassohaussmann]

I live close to the Mexico border. I always go for *hotdups* , their quality is great. Some of them are made with leather and really hard to tell the difference from real or not. Either way, it’s your choice. No judgement from me

[@lamjay5189]

Actually no loss, you enjoyed those items before. If all the money are save, there will be no happiness. We need to save, spend and enjoy life as long as we are not in debt. Now at your age, buy some good jewellery and watches to wear, those brands that can keep for your next generation. Lead a happy life 🎉🎉🎉

[@Solacefoundandcurated]

my kids started laughing at me yesterday. I was pulling my bags from my shelves and was talking to them, like babies. I love my babies!!! Anthromorphizing , never knew that had a name.

[@bini5576]

Once the money has been spent, it's gone. The attitude that you buy something and then expect all the money back is perhaps asking too much. So be happy that you still got money for the used items.🤗

[@abriefcaseofluxury]

Oh no, I definitely agree! Most designer items are sunk costs, and I know that, I just wish I hadn't sunk that much cost into them 😅 But I'm definitely going to be careful about slipping into that mindset "that if it doesn't work out, I'll just sell it later"....

[@cassohaussmann]

New friend here sending may full support *hotdups*

[@lamjay5189]

I bought a Chanel clutch to attend a wedding n use it another two times 😂. Very inconvenient. Well when we are young, we care about fashion than practicality 😂. Never mind just enjoy everything we have🎉. No loss.

[@VBoo459]

I feel this so much now. I’ve been thinking that all my bags are my forever bags because I simply “like” them a lot. But I’ve sold too many. I realise that the bags I sell the most are 1. With obvious logos (way before this quiet luxury trend even started) and 2. Colourful bags….which is weird because I LOVE colour. Also mini bags don’t have a place anymore, IJN I hope to start a family by next year, so I think I need functional bags for my mama era. Sold them all at a loss. My biggest loss was my Chanel - £1,500+ loss only after 1 year of barely using it…

[@hamedabdi5927]

Love this video. Thank you !

[@mbelieve9919]

These types of videos are the most helpful.

[@abriefcaseofluxury]

I'm so glad to hear that! 🥰

[@kimvilleneuve2543]

Don’t get another bag, unless you really love it. Not just because it’s the it bag right now.

[@abriefcaseofluxury]

you're absolutely right, I don't know at what point we started bags like we buy groceries haha, like it's something we have to get a new one of every few weeks/months....

[@jalaine007]

Just found u this video is great! Thanks for this I really needed to hear this I’ve had the same experience going on now w my collection. ❤

[@abriefcaseofluxury]

I love how none of us are alone in this and so many of us have experienced the same thing...

[@JussaBehbi]

Thank you for sharing your wisdom! Watching your video was like therapy lol ❤

[@abriefcaseofluxury]

Aw shucks, thank you for watching!!!

[@AnnissaMW]

Luxury bags are an investment provided you get classic pieces and don’t use them. If they’re kept with tags, box, etc…they can be sold as new. You need to plan to sell them when the value increases. Otherwise they’re not an investment. They’re just an expense that you may get the money back from if you decide to sell them, but it’s not guaranteed.

[@abriefcaseofluxury]

That's true, you would need to entirely shift your "reasoning" for why you are buying the piece. And I get that there are people who would buy these bags, and leave them as is in a bank vault, until they are ready to sell them!

[@merrywalsh2809]

Never sold a bag, but I have definitely thought about it. What stops me? Basically, I do not know how to go about it, or how much of a cut the reseller sites take.

[@abriefcaseofluxury]

I was the same way - this was my first time selling/consigning my bags - Fashionphile does a buy-out so they immediately pay you for the bag (and obviously turn around and sell it for quite a bit more), while The Real Real is a consignment, so you won't know how much you get until it gets sold.

[@captainhml3868]

Excellent analysis as always!

[@abriefcaseofluxury]

Thanks for watching!!!

[@kaicruz9912]

Here’s a perspective from someone who just like you, loves luxury bags, and sold most of them a few years ago when I “retired” from my corporate job and didn’t need to hold on to the bags. And I’m advising this to people who may actually want to collect bags as well. Chanel and Gucci lost their value. Lost money there. But sold FIVE GOYARD bags that held its value. DID NOT lose money there at all. All 5 Goyard bags were sold in the same exact amount when I bought them. With a little bit of extra income on it in fact! Not a lot just charged a bit of extra for my time and efforts to sell. And since we were renovating our home. I was happy with that. Because we were able to use money from my Goyard collection to renovate a home - so it ended up being a good investment because I enjoyed those bags and we were able to use the money on it with value! People sleep on Goyard because it’s not a social media type of brand. But in my opinion it is real luxury when it holds its value very very well.

[@abriefcaseofluxury]

Thanks for sharing! Goyard has also been gaining steam lately, for being such a historical company! I definitely need to check them out in person next time I get a chance!

[@melocoton7]

my husband knows not to buy me surprise luxury items because I am SO particular about what I like 😅the couple of items he has gifted me were explicitly agreed on with me. Not very romantic, I know, but money doesn't grow on trees and I don't want him to be wasting money. In regards to selling: I have let go of so many bags over the years, I can't even remember them all. Thankfully I am a pre-loved hunter and I got close to buying price back on the sales because the initial price drop already happened before I got them. There is one bag though I still have and have not sold, and that is my first Chanel bag. I bought it in France, Nice. It is mid 80's and realistically I would not get my money back on it, so it stays for now. It doesn't bother me to have her in her dustbag in my closet.

[@abriefcaseofluxury]

Thanks for sharing (and for watching)!!! But I agree with, not as romantic, but so mmuch more practical hahah, and I've become such a believer in preloved shopping since!

[@jasminemp]

I’m glad you kept the horiztonal lock it. I love that bag.

[@abriefcaseofluxury]

oh I don't think she's ever going anywhere, she's a trooper!!! 😀

[@jasminemp]

@@abriefcaseofluxury OMG yes! People with the neverfull have no idea how amazing that bag is. I used to use it when I lived in NY and commuter around the city through subway.

[@juliedurso1725]

Great lessons. Your needs and taste changes. This year I let go of 3 Chanel bags (Woc too small, vintage maxi too big, and nylon no shape) and 1 Chanel sneaker. It’s okay to make a mistake. You think things will work out but sometimes they just don’t. But now I know. I am a medium size handbag girl. I will never buy too big or too small. Handheld only bags are too inconvenient. Strap can’t be too long or sloppy.

[@abriefcaseofluxury]

I love it, thanks for sharing!!!

[@luxurybagheaven]

I agree on don't settle

[@lucillewoon4035]

great video and nice reflection

[@abriefcaseofluxury]

Thanks for watching!!!

[@GiveMeTheLook]

lol I also use file organizers to organize my clutches

[@GiveMeTheLook]

You never want to consign your bags. You’re better off selling them on eBay and Mercari or some thing else on your own because consigners take so much money.

[@abriefcaseofluxury]

I'll have to give that a shot, if I ever decide to sell again!

[@TheAkumaChan]

Im always surprised by the statements of I spent my first big girl paycheck on X luxury purchase. Whether it is for themselves or for family. I only remember thinking that I needed to stand on my own two feet (during college) and needed to stop asking for money from my parents for tuition, living expenses, etc. Thinking back, that was truly the moment when I did. Makes me kind of sentimental now that I think about it. I wish more people set themselves up for financial success like I did. Didn't get so brainwashed by capitalism and luxury fashion houses.

[@abriefcaseofluxury]

Such is youth right??? Even knowing what I do now, I don't know if younger me would've listened to me now lol!!!

[@labas9817]

I just might ask the dumbest question. Was it possible to keep the smaller handbags and use them as cosmetic bags, or organizers in large tote bags? Just 🤔, because I use a whiting and Davis bag as a catch all sometimes. I know it may be weird but it works 😂

[@abriefcaseofluxury]

I 100% thought of that as well, but that would mean retiring my other "mini bags" within my bigger bags haha, so either way, someone would have to go...but that is a GREAT idea n general and I think if you can make that work, you absolutely should!

[@suriaprebavaratharajoo6866]

Hi I sold a few bags some unused and 5 yrs old all Lv but cash price at a second hand store was so low I had a reality check and like you now I am happy to use what I already have. I have 10 bags in total and although I get bored with my bags I have enough to rotate to keep myself happy . 2024 I am going to get a few other timeless pieces like a nice scarf, slippers fr Tod’s …

[@abriefcaseofluxury]

Thanks for watching, and for sharing! 🥰

[@suriaprebavaratharajoo6866]

Also u are spot on nothing is enough 😔 but it s OK to look and want and not necessarily own all the bags u like, just admire fr far.

[@hollywatson6693]

My best advice is to buy preloved. Bags lose value as soon as they are used, so buying a brand new bag and expecting anywhere near the same amount back if you also want to use it is silly. I bought a bag a few years ago, used it for 18 months and sold it for 5 x what i had paid for it. I did get it at a good prics but i also looked after it, deep cleaned it and made sure it looked its best for selling. Its easy to get your dream bag at a good price if you are willing to be patient. I constantly keep my eye out for bags going cheap that i know with a good clean would fetch a good price. Ive now bought, used and sold several for a profit, meaning i get to wear a lot of bags without losing any money. Yes ive ended up keeping ones i like but ive moved a good few on too! If id have bought all these bags new i would have spent and lost thousands. Theres some prestine handbags out there at rock bottom prices if you know how to filter through the fakes

[@abriefcaseofluxury]

A couple of years ago, I would've never considered buying preloved, nowadays, I hardly ever consider buying new from store!

[@hsiaomei09]

If it will make you happy and you can afford it, I think that you may treat yourself, otherwise, just stick to one or two. Those social influences need to buy these lux bags to take some pics, they are invited to social gatherings and they were given to show them to their followers. Hmm, some people spend too much.

[@moogletrip7419]

Have Items I haven‘t used once! Buyer remorse…

[@luxluv1012]

Great video.

[@abriefcaseofluxury]

Thanks for watching!!! 🥰

[@Coastpsych_fi99]

Bags are not investments by any means and I totally agree with your notion that no matter how perfect a bag feels it is highly likely that we will grow and change to the point where it no longer serves us. We will likely want new bags and potentially want no bags. I have no issue with never selling my bags and having them basically sit around in my closet provided that I truly loved each item when I bought it and felt it represented a huge milestone. I’m extremely careful about which bags I buy as I don’t want to own too much stuff.

[@abriefcaseofluxury]

I think that's a great mindset to have!

[@TheMeganExperience]

I've honestly never sold a designer bag at a monetary loss but I also am super choosy about the items I purchase. There are items that increase in value over time but it is only certain items from certain brands.

[@dapperlygrungy3189]

I don't own one designer bag. I do want a travel bag by Bally. Its now on sale for $1800 originally $3200. Should I buy it?

[@ShweMyaukMyauk]

No. Bally has zero resale value

[@dapperlygrungy3189]

@@ShweMyaukMyauk However, I am not concern with resale value. I won't be flipping the bag. I will actually use the bag.

[@comfynlux5695]

If you want it and will use it go for it. Value is based on what one is willing to pay. It’s not always about resale. That’s what I’ve learned.

[@lindalee8793]

​@@dapperlygrungy3189 Bally is a good quality leather. I always go for leather quality and artistic structured bags. I love Braun Buffel from Germany.

[@Faithb73]

I have a Bally bag that I’ve owned since the 90’s and I don’t care if it is out of style, the bag is my go too always. The leather quality is amazing and if you plan on keeping it you will not regret the purchase. Who cares if it doesn’t have a resale value. Buy the bag you love and want to wear. That makes it worth whatever you’re willing to pay for it.

[@stanley052380]

Most people doesnt realise is that bags generally are not a good investment piece. Sure luxury bags can last longer because of their high quality materials but for the ridiculous amount of money it cost (specially in recent years several price increase) you can get away with cheaper with quality bags that does not break the bank.

[@abriefcaseofluxury]

I agree! I'm really curious to see how much longer before this luxury bubble bursts, I feel like it's already starting to happen...

[@Restless318]

you have do best for you

[@chauminh]

Merci

[@barbthegreat586]

Also, another lessons, you seem to have a lot of bags which look quite similar.

[@abriefcaseofluxury]

😅😅😅 My husband reminds me of that ALL THE TIME...

[@gummybear9144]

I would never sell my bags to consignment companies. Sell yourself.

[@DonaldGarrison992]

I believe no girl can say no to *yutulux*