The rise of luxury fashion’s resale market | FT Wealth

Fuelled by the pandemic, luxury fashion’s second-hand market has been booming. But is there enough stock, security and customers to go around in an increasingly crowded high-end resale marketplace? The FT’s deputy fashion editor Carola Long shops around to see how global online operators and small boutiques are navigating the hidden challenges of the luxury resale trade.
#fashion #secondhand
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[@canale2318]

Wow, videos like this never fail to remind me there's plenty of frivolous people with way too much money in the world

[@Sol-fo2zu]

Another factor: the rapid decline in quality of modern-day luxury brands and products. Many of these fashion houses have exported most of the % of construction of their goods to China and other low-cost labour countries, only finishing the pieces in the European countries whose labels of origin they boast. Consumers across the board are fatigued with the games and paying for nonsense.

[@Avantime]

The resale market exists because people want to sell to fund new purchases and keep up with the Joneses (status anxiety is a real thing), while others want a bargain. Sustainability is merely a sugarcoat excuse, maybe except for the space in their wardrobes.

[@sovrappensiero1]

100%. I came hear to say exactly this. Also, now shopping consignment has become trendy, and everyone wants to follow the trends. We even have a new, more palatable name for it: “preloved.” The euphemisms attempt to distance people from the feelings that make them avoid buying used clothing, things like being associated with poverty.

[@ARUchannel1]

Buying second hand is even more expensive because old pieces are limited

[@Avantime]

@@ARUchannel1 Not all items go up in price, just like not all used Ferraris go up in price. A few do, but most Ferraris depreciate.
Most resale activity are in the mass market, we're not dealing with one-of-a-kind items for the likes of Sotheby's.

[@nsp477]

I have a hard time believing that "sustainability" is a factor in the purchase of these items. Sounds more like a fashionable excuse to buy second-hand.

[@roxxycrystals]

May all being be healthy, be well, be free!

[@TSquared2001]

Imagine that

[@renand3z]

It's not about climate change. There are new buyers who can finally afford this, same thing with used cars. Too much money in the system.

[@87channels]

I would literally rather buy a monkey NFT than one of those $200,000 handbags

[@drholmes1003]

The NFTs are the new luxury handbags of old, with an even easier validation process.

[@Sol-fo2zu]

TheRealReal is also well-known for allowing counterfeits to slip through the cracks; buyers beware!

[@futurelifestyle2698]

If fake is not identifiable then I will definitely buy a fake one😂

[@laupeter4594]

this type of business is for poor people who want to feign themselves as the wealthy class. Honestly I don't give a f*ck if it wasn't for the people that I would like to hang around with