Second-hand Designer handbags - investment or not?

[chestynuts]

Im just wondering since I am addicted to buying it.

[bjl584]

I can't see a market for second hand handbags, but you never know.

Have you done any research on them to see if there are any collectors or any price appreciation?

[disneysteve]

There's definitely a secondary market for handbags. You just need to really know what you're doing. The biggest issue is the flood of counterfeits that are out there. You really need to study up and be sure you know how to tell the real stuff from the fake stuff. The challenge then becomes if you are buying online with the intent to resell, you have to trust that the seller is legit and not selling fakes.

[scfr]

I know one woman who buys & sells handbags for a little supplemental income to her full-time job. She will also check authenticity for others interested in buying second-hand. She has developed a very specific niche, dealing only in one brand of high-end bag. I'm not sure if that qualifies as an investment, though. It's more of a side hustle.

My guess is that a more realistic approach might be to use your knowledge and salesmanship to help off-set some of the cost of your handbag habit. That is the approach my husband takes with his golf habit. He likes to update the clubs in his bag regularly, so he's become very good about finding pretty good bargains when he buys and selling of his older clubs for maximum dollar in order to help offset some of the cost of updating. He also occasionally gets cast-offs from a friend who is a pro that he will use for awhile and then turn around and sell. This is not income nor an investment, more of a way to keep costs down.

[disneysteve]

My guess is that a more realistic approach might be to use your knowledge and salesmanship to help off-set some of the cost of your handbag habit.

I did this for years with my Disney collectibles. I would often buy 2 or more of an in-demand item, keep one for my own collection, and resell the others for profit. Sometimes I made enough to totally cover the cost of the one I kept or even more than that.

[chestynuts]

the reason why i'm asking this is because of my mom. she thinks that i am an addict for buying bags almost every other month and wants me to see an online psychiatrist. she was consulting/talking with this person from betterhelp after her divorce and told me so many times, i lost count, that her friend has helped her tremendously with almost anything about her life now and that includes spending wisely. i was like ---

im single and have no problems with my monthly payments. she just makes me feel so guilty at times and tells me that im just spluring for nothing. i did inform her that designer bags have a resale value. and have shown her all your replies. she was quiet.

[chestynuts]

the bags i buy from my favorite seller comes from Japan and are authenticated, im 100% sure that they're real. and i really think that buying these bags will make me feel good and the deal is too sweet to pass. it's like 50% off and i don't mind the "used" factor.

(i tried attaching my picture with the bag but my wifi is so erratic, will try later)

[Joan.of.the.Arch]

You mentioned monthly payments. Are you making monthly payments for handbag purchases?

[scfr]

Are you selling bags? If you are selling, after expenses (commissions to on-line marketplaces, packaging, postage, taxes, etc), what percentage are you able to recoup of what you originally spent on the bags?

[msomnipotent]

The only time I have made money by selling my purses is when I sold a 20 year old Coach that was in like new condition and a classic style. I have never come close to even when selling a nice purse that is a few years old, because the style is dated. It might be easier to break even if you are buying used to begin with, but I don't bother buying used anymore. The amount of fakes just on Bookoo alone makes my head spin. I can usually spot them just by the pics in the ads, but I was fooled twice. It was a pain getting my money back. Then on the flip side, you have cheats that tell you that your purse is fake and will call the cops if you don't give them a huge discount. I buy my purses from the manufacturers. I know what I have. It is too much of a pain in the butt for me.

So if you have cash to burn and it makes you happy, go ahead and do it. Consider it investing in yourself and not investing in purses. You probably won't make money off of it, but you might come out close to even. But if you are buying purses when you could be paying off your car or saving up for a home, I would rethink my savings goals if it was me.

[disneysteve]

the reason why i'm asking this is because of my mom. she thinks that i am an addict for buying bags almost every other month and wants me to see an online psychiatrist.

im single and have no problems with my monthly payments. she just makes me feel so guilty at times and tells me that im just spluring for nothing. i did inform her that designer bags have a resale value.

Whether or not the bags have a resale value is completely irrelevant to the problem here. You aren't buying them to resell.

i really think that buying these bags will make me feel good

If you are buying handbags to make yourself feel good, there is a serious problem here and your mother is probably right.

You mention "monthly payments". Are you paying your credit card bill in full every month or are you carrying a balance? If you are going into debt to buy handbags, this is an even bigger problem.

What percentage of income are you saving for retirement?
How many months of expenses do you have parked in your emergency fund?

If all of your financial needs are in order and you are buying handbags because you enjoy them, that's great, but I'm sensing that isn't the situation here.

[bjl584]

It sounds like you have quite a collection of handbags.

You mentioned that your argument to your mom was that they have resale value. Have you actually sold any yet? Having a massive collection of anything of value doesn't pay off until you have a buyer.

[snafu]

I'd like to see your business plan outline for selling used 'designer' handbags. What is your 'inventory?' How many handbags do you have in the line-up daily? How many sites are active? How many bags are sold each month? What is the median price? What are your costs all in?

If you are building self esteem by buying expensive bags, your mom's is showing how much is cares about you. How many will satisfy your desire for an item without intrinsic value? If you are in debt and paying interest on CCs, loans etc. you are paying to rent money. It offers as much benefit to you as standing on your doorstep and burning money.

I wish I knew the words that would motivate you to spend the similar sums on better, long lasting benefits by taking a few courses to build your skill sets to improve your future. Alternatively, join a gym, meet new people and build your endomorphs with exercise targeted to improv your health now and for future benefits.

[chestynuts]

I'd like to see your business plan outline for selling used 'designer' handbags.

hi! there is no business plan because i don't intend on making it a business. i intend to make a collection out of designer bags.

[chestynuts]

It sounds like you have quite a collection of handbags.

You mentioned that your argument to your mom was that they have resale value. Have you actually sold any yet? Having a massive collection of anything of value doesn't pay off until you have a buyer.

thanks for this feedback! at this time, no - im not trying to sell it.