The Ultimate Reasonable Offer Guide
There are a lot of benefits to buying a pre-owned designer bag. It’s better for the environment, you’re more likely to find a unique design, and you can score some serious deals.
Not only do reselling platforms offer a plethora of luxury goods at enticing prices, they also allow you to negotiate listings when you make an offer. This feature can help you save even more, but it’s not something you should use carelessly.
Making offers and negotiating is an art that can go very wrong if done incorrectly, which is why we’ve created this guide. Read on to learn how to effectively secure the best possible price for your dream bag.
What To Know Before Making An Offer
Like cars, jewelry, furniture, or any other pre-owned item, designer bags will typically have a lower price point than their conventional retail counterparts due to depreciation. However, this isn’t always the case.
Certain limited edition or classic designs, like the Hermès Birkin or the Chanel Classic Flap, are known to increase in value even if they are pre-owned. It’s crucial to do your research before you make any offers to ensure you’re being reasonable and offering a fair deal. Sellers will still be looking to make a decent return on their initial investment, so craft your offer accordingly. There’s nothing worse than a low-baller in the luxury resale market!
How To Determine The Value Of A Pre-Owned Designer Bag
Before you make your offer, try to determine the general value of the bag you’re interested in. There are a few different ways you can do this:
- Discover the market price. If you’re looking for a well-known design like the Louis Vuitton Neverfull or the Fendi Baguette, there will be a general market price for the bag. Find out what it is by checking listings of multiple resale platforms – you’ll get a good idea of what sellers are willing to accept.
- Evaluate similar listings. Next, compare the specific bag you want with others in a similar condition. This will also help you gauge a fair offer range.
- Consider the full retail price. Calculate a fair discount for your pre-owned design by comparing it to the full retail price. If a bag is usually $4000 full price, it wouldn’t be fair to make an offer of just a few hundred dollars. This exercise is especially beneficial if you’re coveting a newer design that might not have a specific pre-owned market price.
Now that you’re aware of your bag’s market price, you can narrow down your offer by considering more specific details:
- Bag condition. Pre-owned designer bags typically come in 5 condition ratings: pristine, excellent, very good, good, and fair. You likely won’t have much wiggle room with bags in pristine or excellent condition, but you may be able to negotiate a bigger discount with bags in the good and fair categories.
- Design status. Certain bags will be worth more due to their perceived status; think ‘it bags’ like the Loewe Puzzle, the Louis Vuitton Speedy, or the Saint Laurent Loulou. Limited edition or special collaboration bags will also have a higher value. Be sure to do research beforehand if you’re not sure about the status of your desired bag.
- Listing age. If a bag has been listed for several months or longer, the seller might be more willing to negotiate the price. However, might is the key word here – never assume an older listing will always lead you to deeper discounts.
What To Consider When Making An Offer
- Be reasonable & avoid lowballing. The last thing you want to do is insult the seller! Think of the listed price as a guideline, and try not to offer more than 10-15% below it. You may be able to push to 20-25% if the bag’s condition isn’t the greatest, but anything over 30% is generally considered rude.
- Account for additional fees. Remember that the listing price – and even your offer price – is not necessarily the amount the seller will receive. The seller will likely be losing a percentage to platform and shipping fees. Plus, there’s also the physical effort involved in cleaning, packing, and shipping the bag.
- Build rapport. Send a polite, personal message to build rapport with the seller. It can be as simple as “Hi, I’m interested in your bag! Would you consider [offer amount]?”
- Be serious. Only send an offer if you’re serious about purchasing. A time-waster is just as annoying as a lowballer.
- Be patient. A seller may need time to consider your offer, so give them the space they need to make their decision.
Consider the above tips reselling and offer-making etiquette. Stick to these guidelines, and you’ll be well on your way to getting your offers accepted with ease!