How to Receive the Best Price for Your Handbag

The secondary market for Hermes and Chanel handbags is thriving. For this reason there has never been a better time to sell your handbag for a healthy profit. Maybe the profit doesn’t concern you and you simply wish to upgrade your bag to a new color or style. Whatever your reason for selling, preparation of the bag and understanding your options are key to receiving the best price for it.

Many women become quite anxious when making a decision to sell their Hermes or Chanel. Where do you start? What is the process? How do you ensure you don’t get scammed? These questions can lead to hesitation and discourage women from selling their bag. Women are then either stuck with a bag they don’t want or missing out on the opportunity to handsomely cash in on their much desired luxury handbag.

In this guide we explain how to prepare your bag for sale, the different options available for selling your bag, and how to avoid scam artists when selling Hermes and Chanel handbags online. Using this information will help you make an informed decision when selling and help you receive the maximum price for your asset.

Selling
Options

Now that you have prepared your bag, it is time to make a decision about how you want to sell it. There are several option available, some safer and some more profitable than others. How you decide to sell your bag depends on a number of factors such as how quickly you wish to make the sale, how involved you want to be with the sale, and whether or not you are planning to replace the bag you are selling.

Below we look at the pros and cons of the three main selling options: sell, consign, and swap.

Preparing Your Bag for Sale

Preparing your Hermes or Chanel bag for sale is an essential step in receiving the best price possible. The first thing to do is to categorize your bag’s condition according to the following guide:

  • Fair – Bag has visible imperfections which include scratches, discoloration, and/or tearing. This usually occurs in bags that have been heavily used for a period of months or years.
  • Good – Bag has some visible wear, but remains in good condition. Older bags which have signs of ageing including very minor discoloration, wear and/or scratches are categorized as good.
  • Very Good – Bag has some visible wear, but remains in very good condition. Older bags which have very slight signs of ageing including very minor discoloration, wear and/or scratches are categorized as very good.
  • Excellent – Bag is in near perfect condition with slight signs of wear. Bags which have barely visible imperfections are classified as being in excellent condition.
  • Pristine – Bag is in perfect condition with no detectable wear or defects. It looks the same as it did the day it was made.

Being honest with yourself when placing the bag in one of these categories can help you get an idea of the price the bag is likely to fetch. For instance, a bag which is in very good condition can fetch 80-90% of the original price, whereas a bag in pristine condition can fetch 120%+ of the original price. There are also options for upgrading the condition of your bag from, for instance good to excellent, by sending the bag for a “spa treatment” at the Hermes store minor/major repairs done to the damage by the manufacturer.

Once you are happy that the bag is in the best possible condition, do some research. Know the intricate details of the bag – What leather is it made from? What size is it? What metal is the hardware made from? Are the lock, keys, box, dust bag etc. original and in the same condition as the bag? If the bag was a gift, ensure it is authentic by having it professionally authenticated before you attempt to sell.

The final step when preparing the bag for sale is to take a series of high quality pictures of the bag. It is essential to include the flaws, design, and color of the bag in the pictures. Try to use a plain and uncluttered backdrop, leaving nothing to the imagination of the viewer.

Having all this information helps you to provide a clear and descriptive listing for the bag when selling it. It helps professionals identify the condition of the bag and provide an accurate quote if you are consigning or swapping the bag. Preparation is key to a successful and profitable sale.

Direct
Sale

The most popular method of selling a Hermes or Chanel handbag is by direct sale. By selling directly, you keep a higher percentage of the profits and therefore make more money from the sale of your bag. However, on the flipside, selling your bag directly means you have to wait for a buyer before you see those profits. This could take any amount of time from a few days to months.

There are two ways to sell your bag online. Either you can list it on an auction site such as eBay or sell it directly to a dealer such as Baghunter. Let’s look at both options.

Auction
Sites

Auction sites are a popular way to sell luxury handbags as sellers can set their own price and make a healthy profit is the bag sells. However, this is also the riskiest option for selling luxury goods. Just as buyers from auction sites are scammed daily, sellers must also be aware of scams when selling high-end products. After much research, we have identified a few scams which regularly occur on auction sites:

  • The transaction is smooth, but the buyer reports they haven’t received the bag. This tactic is employed to make the seller look like the scammer. It is essential to use tracking and insurance when posting the bag to avoid this.
  • The buyer is not willing to pay. This is a real pain as it delays the sale of the bag and results in you having to re-list it. In fact, we have come across situations where people actually want the bag sent to them before payment! It should go without saying but never send a bag before payment has cleared.
  • The most frightening scam is when a buyer claims they are unhappy with the bag and goes through the protocol of returning it. However, instead of returning your bag they return a fake bag. Due to the terms and conditions of auction websites, there is technically nothing you can do if this happens.

Sell to
a Dealer

The other option for selling is to sell directly to a dealer, such as Baghunter. The drawback to this is that you can’t set your own price as you will be offered a valuation of the bag after a thorough inspection. However, there is no risk of being scammed if you use a trusted dealer with a solid reputation which is a major plus.

Selling to a dealer is much like selling on an auction site. You prepare your bag in the same way and send the listing along with high quality pictures. Some dealers will request to see the bag before they can offer any type of quote, however, Baghunter will get back to you with a preliminary quote within 48 hours.

If you accept the price, you are provided with a free pre-paid insured shipping label to post the bag with. Once the bag has been received and inspected, you will receive a final offer which, if accepted, is paid by the method of your choice.

This is an ideal selling method for those who wish to make a quick sale and receive the money as soon as possible. It is much safer than selling on an auction site and eliminates any risk of being scammed or waiting months for someone to make an offer for your bag.

Consign
Your Bag

The next option is similar to selling your bag directly to a dealer with a couple of small differences. Consigning your bag to a well-established dealer offers you the ability to set a minimum sale value for the bag. This gives you more control over the price than selling the bag directly to a dealer and also helps you expose you bag solely to your target audience, unlike auction sites.

The other main difference between consigning and selling is that you will only receive the money once the bag has been sold. Unlike selling, where you receive the money immediately, consigning is the better option for those who aren’t concerned about making a quick sale and would prefer to sell the bag for a healthier profit.

When consigning your bag, there are several factors to take into consideration. Check the base fee of the consigner, the popularity and exposure of the company, the transparency and simplicity in their process, and the layout of their product pages. If you are happy with all these factors then proceed with the consignment.

Swap
Your Bag

The final option is to swap your bag. This is the ideal option for those who are selling their bag to upgrade or because they have spotted a different style and fallen in love. The benefits of swapping are clear – a higher price for the bag you are selling, an easy way to keep your collection fresh without spending a fortune, and a safe and smooth transaction.

Swapping is much like selling in that you will need to send the listing and pictures of the bag to receive a preliminary quote before sending the bag for authentication and a final quote. The price offered will be higher than if you selling, however, with the money transferred as credit to use on the purchase of another bag.

Tips for Selling a Hermes or Chanel Bag

  • Preparation is key to receiving a healthy price for your bag
  • Consider sending your bag for a “spa treatment” or for repairs before selling
  • Know the intricate details of your bag before you sell
  • If selling your bag directly, be aware of scams
  • It is advised to use trusted businesses over auction sites
  • Selling is ideal for those who want quick cash
  • Consigning offers higher profits than selling, but takes longer
  • Swapping is the perfect option for those upgrading their bag