The luxury market can be a minefield of uncertainty, of misleading price tags, and pushy salespeople, if you start your journey in the wrong place.
The truth is that we have met more than a few clients and customers who have been traumatised by previous experiences with the luxury resale market and who are unsure who to trust.
Which is why, when it comes to selling luxury, we’re rewriting the rulebook. Far from providing a cold and impersonal service, at Love Luxury we invite all our sellers to visit our Knightsbridge boutique, or to conduct their initial submission online, before receiving a full authentication service, valuation, and offer.
This guide has been created by the Love Luxury team, to give you an idea of what to expect from initial contact right the way through to sale and the transfer of funds.
The first step in selling a luxury item is to let us know what you are wanting to sell.
All submissions that we receive are handled securely and with discretion at this early stage, with sellers able to submit the required information online or via WhatsApp, or with an in-person appointment at our boutique store.
As part of this first step, we require information on the bag model and size, the condition, and extras – including whether original packaging and receipts are available.
The next step is what props up our reputation as one of the leading luxury resellers in the industry – and is undoubtedly the most complex step.
Authentication is the process through which each bag is examined in minute detail, with Love Luxury holding industry-leading expertise in Hermès, Chanel, and other popular brands.
Learn more about the authentication process and what it involves here. Note, authentication is crucial and will determine whether we can buy and resell your bag or not.
Luxury bags that pass the authentication check are then valued, using retail prices and live resale auction listings as a benchmark.
Demand is considered as part of the valuation process, with the condition, rarity, seasonality, and even the colour of the bag used to determine an accurate valuation and price. We also look at the condition of the bag, whether it is marked or pristine, balancing this against the baseline market value and how in demand that particular model is.
Suffice to say, a lot goes into the valuation of each bag, and there is no one-size-fits-all approach to fixing and confirming a price.
This is the exciting bit for many of our sellers, as they find out how much their bag is worth and what options they have relating to sale.
At Love Luxury, we pride ourselves on providing a fully transparent process, with no hidden fees and access to a number of methods – from immediate payout via bank transfer, to a consignment agreement with payment after sale.
Our offer presentation lets the seller know what their bag is worth and what they can expect to receive in return for their bag – with them controlling the rest of the process and the choices involved.
Payment terms vary depending on seller preference; be it a direct payout or a consignment agreement. In fact, many sellers spend the valuation and authentication time browsing our boutique store, and quickly find a replacement bag that they funnel the payout into.
Either way, all sales (and subsequent purchases) are securely documented and tracked, with receipts for us as the buyer and you as the seller.
With the seller process laid out in full, you might be wondering how to make the most of this service. Whether you’re looking to boost your bank balance with a direct sale and payout, or trade an existing bag in for something new and more in line with your current style, maximising your bag’s value ensures that you get the best from the sale process.
And it all comes down to how well you maintain and look after both the bag and all its paperwork.
Being able to track the history of the bag, from manufacturing through to your purchase, is important for the valuation process. Including original packaging, receipts, and authenticity cards will help to ensure a smooth sale.
It’s also worth noting here that some bags sell at higher prices than others. Specific models, materials, and even colours command higher prices than normal, owing to demand and scarcity – something it’s important to note and understand before you attempt to sell your luxury bag.
You can either sell your bag to us for a direct payout, or under a consignment agreement, whereby you will receive payment once the bag has been sold to a new buyer. The timeline for resale varies hugely based on client demand and the specific model you are selling, while direct payout can often mean you receive payment on the same day.
The resale value of your bag is confirmed during its valuation – and is heavily dependent on condition as well as authenticity tracking.
Where possible, having these original documents can help the authentication and valuation process, and ensure that you receive a sale price that is fair and that you are happy with. While we can conduct sales without these elements, this will likely affect the price you receive in the valuation.
As part of our commitment to all luxury buyers, we only sell bags that have undergone our comprehensive authentication check – and passed. While you may be able to sell a luxury bag without authentication via other avenues and markets, reputable boutique businesses like Love Luxury will only buy and sell bags that are proven 100% authentic.
The price you will be quoted by Love Luxury is based on a number of factors, including condition and authentication documents, model, colour, and demand for that particular bag.
Whether you’re new to Love Luxury or have followed us online for a while, we hope this guide demonstrates the commitment we uphold to both our sellers and our buyers.
Without our incredible sellers, we wouldn’t have such a coveted array of luxury bags for our buyers to browse and take home – and we take huge pride in the professional experience that each and every seller enjoys when they reach out to us.
Take the first step in selling your luxury bag, whether you want the cash or a replacement bag, by getting in touch with us today.
You can never have enough bags, which is why it makes it a great gift. It’s a pretty reliable gift, a bag is practical and can be used many times
Rolex is a brand known for its luxury watches, specifically the professional collection that taps into the features and functions required by individuals in different professions and following different lifestyles.
The Hermès brand is one of the most iconic in terms of luxury branding and has seen several collections inspired or spearheaded by celebrity fans and fashionistas of note. The
