5 Actual Quotes from 5 Consignment Platforms for an LV Purse: Who Gives the Highest Quote?

If you have a passion for designer purses, you definitely have bags that you have got tired of and that have been collecting dust in the closet for a long time. Do you know you can give them a second life and actually earn some money to afford yourself a newer designer piece?

But when you actually decide to sell your pre-loved bag you start asking yourself numerous questions. Which consignment shop to choose? How much can I get? Is it worth the effort?

At Bagaholic, we have done a research to make selling your bag easier. We submitted this Louis Vuitton Suhali Leather Lockit MM to 5 online consignment platforms that offer direct buyout.

The Suhali collection was a premium collection when it was released. The price level was $3,000-$4,000 - it was crazy-expensive for 2006-2008!

However, with time Suhali line lost a major part of its value. Currently, the price for a Suhali item is around $1,000 and you have to be lucky to get this amount for your purse.

The condition rank of our bag is 8 out of 10. The purse has some minimal rubs on corners and a small barely visible scratch on the front side. There is some minor wear on the hardware, the inside is clean, and the purse comes with a clochette, a lock, and keys.

At Bagaholic, we're selling this item for $699-799.

Let's find out how much you can get at online consignment platforms!

 

 

1. Selling Your Purse With Rebag

Rebag is the fastest way to get an idea of how much you can get for your pre-loved item. You just have to log in and click on the "the sell your item" button. Then you select the item type, designer, model, material, and size, indicate if your purse comes with the signature LV accessories, such as keys, a clochette, and a lock. The next step is the most important as Rebag asks you to select the most accurate condition grade for your item using their criteria. For our Suhali Lockit out of 4 options (excellent, great, very good, and good) we chose "great". After that, you need to go through the acceptance guidelines regarding wear and evaluate yourself if your bag complies with them.

And then you can reveal their instant offer which in our case was a check for $415 (14% of the established retail price) and $500 (17% of the established retail price) in Rebag credit. If you accept the offer, you can select a shipping method that is convenient for you, and that is it - your bag is sold. 

 

 

2. Selling Your Purse With Resee

The second consignment shop to respond was Resee. To sell a bag there you need to fill in a simple form describing your bag and upload four pictures showing the front, the back, the main features, and the main wear. After some time you receive an offer on your e-mail. 

 

In our case, it took them 12 days to come back with an offer which was higher than the one Reag gave us - 600€ (around $676, minus any necessary repair and cleaning fee). If you are OK with the price and terms they offered, you ship it to them for final examination and sale (they are based in Paris). Resee reserves the right to have the item sent back to you at your own cost if they consider it doesn't conform upon receipt. Please, note that if your item has been accepted and remains unsold for a long time, Resee can reduce the price to up to 70% of the original offer. You also have the right to recuperate your bag at any time during the consignment process for 20 euros. 

 

 

3. Selling Your Purse With Luxury Closet

 

Another trusted way to sell your pre-owned designer purse is Luxury Closet. The submitting process is similar to the ones described above. You just upload the pictures of a bag, provide the basic details, and wait for an answer or an offer. 

 

As promised, the team quoted our item within 72 hours. The suggested price range which you can choose your payout from was $625-893. If you agree with the terms, the Luxury Closet team will take care of everything - delivery, authentication, cleaning, and listing. You should be aware of the price reduction scheme that applies automatically if your item doesn't sell for a long time. 

 

 

4. Selling Your Purse With Yoogi's Closet

Another popular consignment shop to sell your pre-loved bag is Yoogi's Closet. The process is similar to all the other platforms - just fill in a form stating the conditions of your item (we chose "like new") and add notes and photos. 

As stated on the website, we received their quote within 2 business days. With Yoogi's Closet you have 2 options: direct purchase or consignment. Direct purchase is the fastest way to get cash for your item. And if we had chosen this option, we would have got $525-570. With consignment we would have got $570-615. You need to understand that this amount is approximate as Yoogi's Closet (as most of other consignment shops) will inspect the item and verify the authenticity upon receipt and come back to you with their final offer. You can choose to receive payment by check, PayPal (no fees!), and Yoogi's Closet Gift Certificate.

 

5. Selling Your Purse With MoshPosh

The last one to reply was MoshPosh because the boutique was closed due to COVID-19 (by the way, if you are worried about buying pre-owned items during the pandemic, check out our article explaining whether you can catch coronavirus from a pre-loved bag). It took them almost 3 weeks to make an offer after we had sent the form with wear description and photos.

MoshPosh has 3 options: you can choose consignment, cash, or store credit. For our black Suhali Lockit it was $840-980 in consignment, $400-500 in cash and $600-700 in store credit. If you choose consignment, you will receive 50%-80% of the final selling price. MoshPosh keeps items for 90 days and if they are not sold within this period you can either claim your bag or it will become the property of MoshPosh and they give it to charity. If you decide to pick your items early, you will be charged $25. 

 

In conclusion, Rebag turned out to be the fastest way to understand what you can get for your pre-loved item, although the price they gave was not the highest of the five consignment shops we turned to. The famous Yoogi's Closet made quite a low offer even for consignment. Resee and Luxury Closet gave an interesting price but they both have a price reduction scheme that may prevent you from getting the full amount offered. And MoshPosh can be a really good solution if you don't mind your item being on sale for only 3 months. 

 

Timeframe

Quote

Rebag

Immediately after filling in the form

$415 - check

$500 – Rebag credit

Resee

12 days

600 €

Luxury Closet

3 days

$625-893

Yoogi’s Closet 2 days 

$525-570 - direct purchase

$570-615 - consignment

 MoshPosh

 3 weeks (due to COVID)

 

$840-980 - consignment

$400-500 - cash

$600-700 - store credit

 

Please, keep in mind that we carried out this experiment just for fun and out of curiosity. The quote you'll receive depends on the bag you wish to sell, its brand, condition, color, and many other factors. It doesn't necessarily mean that in your case the same consignment platform would offer the highest quote. 

Do you have any experience consigning your pre-loved bag? Share in comments!

 

What To Do Next?

If you are interested in what other trusted websites for selling your pre-owned items there are, check out our list of 40+ best places to sell your used clothes online for cash

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