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FASHIONPHILE 2020 Resale Report

FASHIONPHILE 2020 Resale Report

When we think of sales booming during a pandemic – toilet paper, PPE, and Clorox are top of mind. The last thing one would consider is everyone buying up luxury accessories as if the world was about to end – but it is 2020 after all. The high demand for luxury is on the rise, and what does demand drive? You got it. Value.

According to a published report this year by Art Market Research, luxury and vintage handbags now outperform art, classic cars, and rare whisky in terms of their increase in value over time. Some bags, from the likes of Hermes, Chanel, and Louis Vuitton, have even experienced a valuation spike of an average of 83% in the last ten years.

What were once lavish trips to 5-star hotels in Paris, concerts, and events, have turned to Pelotons, exclusive home delivery kits, and hours of – you guessed it – retail therapy.

“We have thought a lot about why, at a time of such uncertainty, why sales would be so solid in what we sell… ultra-luxury accessories. Like, where will you wear them? But the truth is, one thing we’ve all had for the past nine months is time. And shopping for a handbag- in particular, a luxury handbag takes time,” Sarah Davis, FASHIONPHILE Founder, and President.

When there is a global shut down, people turn to online shopping to find their ultra-luxury items and FASHIONPHILE is lucky enough to serve our customers primarily online, from the safety of their homes.

Traditional retail was hit hard by Covid with production halting to make PPE and stay-at-home orders in place – all resulting in excessive inventory, even for ultra-luxury brands. A mass ecommerce shift powered by Covid has allowed the resale market (and FASHIONPHILE) to thrive. Time, money, and value all contributing to its post-pandemic growth. That new excess inventory? FASHIONPHILE now has more “new” items than ever before.

The following report is a recap of all things ultra-luxury pre-owned that FASHIONPHILE saw in 2020. Consider this your insider’s look into the luxury trends, statistics, and fashionable facts that just might help you buy (or sell) your next Holy Grail accessory.

When we think of sales booming during a pandemic – toilet paper, PPE, and Clorox are top of mind. The last thing one would consider is everyone buying up luxury accessories as if the world was about to end – but it is 2020 after all. The high demand for luxury is on the rise, and what does demand drive? You got it. Value.

According to a published report this year by Art Market Research, luxury and vintage handbags now outperform art, classic cars, and rare whisky in terms of their increase in value over time. Some bags, from the likes of Hermes, Chanel, and Louis Vuitton, have even experienced a valuation spike of an average of 83% in the last ten years.

What were once lavish trips to 5-star hotels in Paris, concerts, and events, have turned to Pelotons, exclusive home delivery kits, and hours of – you guessed it – retail therapy.

“We have thought a lot about why, at a time of such uncertainty, why sales would be so solid in what we sell… ultra-luxury accessories. Like, where will you wear them? But the truth is, one thing we’ve all had for the past nine months is time. And shopping for a handbag- in particular, a luxury handbag takes time,” Sarah Davis, FASHIONPHILE Founder, and President.

When there is a global shut down, people turn to online shopping to find their ultra-luxury items and FASHIONPHILE is lucky enough to serve our customers primarily online, from the safety of their homes.

Traditional retail was hit hard by Covid with production halting to make PPE and stay-at-home orders in place – all resulting in excessive inventory, even for ultra-luxury brands. A mass ecommerce shift powered by Covid has allowed the resale market (and FASHIONPHILE) to thrive. Time, money, and value all contributing to its post-pandemic growth. That new excess inventory? FASHIONPHILE now has more “new” items than ever before.

The following report is a recap of all things ultra-luxury pre-owned that FASHIONPHILE saw in 2020. Consider this your insider’s look into the luxury trends, statistics, and fashionable facts that just might help you buy (or sell) your next Holy Grail accessory.

model wearing Alhambra necklace from Van Cleef and Arpels at FASHIONPHILE
model wearing Alhambra necklace from Van Cleef and Arpels at FASHIONPHILE
product image on white of Holy Trinity of watches FASHIONPHILE
img-hermes-birkin-25-gold
img-hermes-birkin-25-gold
Blog_Support_Image_5_Authentic
Blog_Support_Image_5_Authentic
Blog_Support_Image_7_Fake
Blog_Support_Image_7_Fake
img-hermes-TaurillonClemence-orange
img-hermes-TaurillonClemence-orange
img-hermes-TaurillonClemence-brown
img-hermes-TaurillonClemence-brown
design graphic that shows the anatomy of a luxury watch pointing to the different parts FASHIONPHILE
design graphic that shows the anatomy of a luxury watch pointing to the different parts FASHIONPHILE
product image of Rolex watch FASHIONPHILE
product image of Rolex watch FASHIONPHILE
Blog_Support_Image_1 (23)
Blog_Support_Image_1 (23)
product image on white background of balenciaga and gucci city bag in brown at FASHIONPHILE
product image on white background of balenciaga and gucci city bag in brown at FASHIONPHILE

“When you buy any ultra-luxury branded bag, it will hold some if not all of its value and potentially even more – depending on the brand and condition – for years into the future. Buying better-made products that see reuse over and over again on the secondary market is a great choice. But picking that bag up on FASHIONPHILE is not only a great investment but also a sustainable one.”

 

Sarah Davis, FASHIONPHILE Founder, and President.

 

Here at FASHIONPHILE, we are honored to be successfully serving our customers in a safe environment continually bringing you the best selection of ultra-luxury accessories on the resale market. We are excited about what the future holds and we thank you from the bottom of our bag for being on this journey with us.

“When you buy any ultra-luxury branded bag, it will hold some if not all of its value and potentially even more – depending on the brand and condition – for years into the future. Buying better-made products that see reuse over and over again on the secondary market is a great choice. But picking that bag up on FASHIONPHILE is not only a great investment but also a sustainable one.”

 

Sarah Davis, FASHIONPHILE Founder, and President.

 

Here at FASHIONPHILE, we are honored to be successfully serving our customers in a safe environment continually bringing you the best selection of ultra-luxury accessories on the resale market. We are excited about what the future holds and we thank you from the bottom of our bag for being on this journey with us.

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