Many of us have somewhat of an obsession with luxury fashion, whether it’s that coveted Chanel handbag you’ve been saving for for the last six months, or if you’re lucky enough to have enough disposable income to feed your habit on a regular basis.
There’s no denying that luxury fashion is an expensive habit, and can feel especially so if the items you invest in don’t feel like ‘you’ a few months down the line or have simply lost their appeal after one season.
There’s no need to leave your designer clothing and accessories gathering dust in your wardrobe though when your past purchases might find a happy home elsewhere. One of the best things about luxury brands is that their products tend to retain their value. You can sometimes earn back up to 80% of the new value of your designer items by selling them on to others who are looking for luxury at a discount.
Don’t default to eBay just yet though – it’s not always the best place to flog your designer gear. We’ve compiled a list of the best luxury fashion resale platforms in London and beyond, so you can start clearing out your wardrobe and making back money in the process.
1. Vestiaire Collective
Vestiaire Collective was founded in Paris in 2009 and now operates from offices in London, New York, Berlin, Milan and Hong Kong. The site is used by 7 million people located in 50 different countries.
If you have items to sell, you have two options: either list them yourself or use the consignment service to pickup your items, set the price and take professional photos. With the first option you can earn up to 80% of the purchase price, and up to 75% if you let them do the hard work for you. Either way, Vestiaire Collective acts as the middleman – you’ll ship your items to them and they’ll release payment only after checking quality and authenticity.
For shoppers, there’s a huge range of different items and designers on offer. As well as clothing and accessories, there’s also a selection of lifestyle products such as homewares, sports equipment, and even pet accessories. While sellers can set a price up to 80% of the original value, buyers can make an offer rather than paying the set price – this means you can find some real bargains if someone is looking for a quick sale.
Bagista specialises in one thing only, and you’ve probably already guessed it from the name: bags. The great thing about this site is you don’t have to sit around waiting for a buyer; they give the option to list on consignment, or buy items from you directly.
If you have a designer bag for sale, simply fill in a form with its details, proof of purchase, and photographs, and the team will get back to you with a valuation. If you accept the valuation, Bagista will send you a pre-paid shipping label so you can send your bag out to them free of charge. The quality control team will check your bag is in the stated condition and authentic, before giving you a final valuation. If you accept this, you’ll receive payment within three days.
If you’re consigning your bag, the process is the same but the bag will be listed on the site instead of you receiving payment directly (you can also expect a higher offer if you’re listing this way). You’ll then be paid within seven working days of a buyer purchasing your bag.
Buyers can simply browse the marketplace to find the bag of their dreams. Once you’ve completed payment online, Bagista will send out your purchase to you. If you have a change of heart or the bag isn’t quite what you expected, not to worry – returns and exchanges are accepted within three days of receiving your order.
Cudoni is a fairly new site, but has already amassed a loyal user base thanks to its wide product offering that includes men’s and women’s fashion and accessories.
Cudoni’s VIP consignment service is what really sets it apart from other sites if you’re too busy or simply can’t be bothered to list your own items. They’ll collect and pack your items for you at a time and place of your choosing. You can earn up to 70% of the original sale price of your item.
Buyers get the reassurance that all items sold via Cudoni have had their authenticity confirmed by an expert. They also offer a 14-day returns policy if you want to return an item.
4. Vide Dressing
Vide Dressing has been around since 2009, and sells a huge variety of brands and items including kidswear, fragrances, and beauty products. Users on the site buy up to 30,000 items every month.
Unlike most of the other resale sites on this list, Vide Dressing does not stand between the seller and buyer. Instead they act merely as a selling platform, much in the same way that eBay works, and the seller ships directly to the individual who has bought their item.
This means that sellers potentially have the opportunity to make more money, as they’re cutting out the middle-man and can set whatever price they choose. The site takes a 15% commission on each item, capped at €300. Items priced €150 or less are commission-free.
Some buyers may be reluctant to shop for designer fashion on Vide Dressing, as items aren’t physically verified before sale. However, Vide Dressing does offer an authenticity guarantee – counterfeits are detected with technology claimed to have a 99.9% accuracy rate. If you’re at all in doubt, you can ask for the authentication team to verify your item. There’s also a two-day money-back guarantee.
5. Designer Exchange
If your main aim isn’t making money but rather switching up your wardrobe, you might want to check out Designer Exchange. While this site does offer the option of straight selling or buying, you can also opt to be paid in higher-value vouchers to shop for new items.
The site works in much the same way as the other resale sites – get a quote, send your item in, and it will be authenticated and valued. If you accept the offer, they will pay you instantly. There’s no consignment service or the option to sell directly to buyers.
Designer Exchange also operates physical stores, so as well as the opportunity to shop online, you can browse items at one of the London stores in Knightsbridge, Kensington, or Chelsea. Exchange vouchers can be used online or in-store. All items are authenticated before sale.