You can probably sell that Louis Vuitton bag for decent money in SA, but good luck with your old Versace
- Louis Vuitton bags, Burberry shoes, and Hermès accessories hold their second-hand value best in South Africa, according to data from reseller Luxity.
- Designer goods from Christian Louboutin and Versace, on the other hand, do not hold their value well once used.
- South Africans like flashily-branded expensive items, Luxity says – more so than the consumers in Europe or the US.
If you are looking to cash in high-end luxury items, bags from Louis Vuitton are your best bet, according to data from local used luxury item trader Luxity, with sunglasses and bags by Hermès a close second.
Shoes do not hold second-hand value quite as well, but if you have to reach into the bottom of the cupboard, Burberry, Fendi, and Jimmy Choo shoes could sell for more than half their original value.
Versace, by contrast, is not going to earn you as much, regardless of the product that carries the name.
Luxity buys and sells top-end luxury items from a range of household global names – in a world where a second-hand handbag can go for R38,000.
The company tells Business Insider South Africa that it has never bought a pair of shoes or sunglasses it could not find a buyer for, but that the speed and prices of sales can vary wildly, and not only due to how well the item has been cared for.
This is Luxity's breakdown of the second-hand value of different brands it has sold across its three categories (bags, shoes, and accessories such as sunglasses, belts, wallets, and scarves) as a percentage of the price when new.
The numbers point to a distinct hierarchy of value in different categories for South Africans. While shoes from Fendi and Jimmy Choo hold value relatively well, bags by the same brands are at the bottom of the rankings for bags.
Even so, only shoes by Céline or Balenciaga and accessories from Fendi, sell for less than 40% their original value on average.
This is how sales for different brands across all items stack up in Luxity's records.
The price ranges suggest that poor-quality designer items from Gucci, Fendi, and Prada are the least valued in South Africa – while a second-hand Chanel can sell for more than its original price.
By the maximum resale value achieved, Christian Louboutin, Versace, and Tod's items hold the least second-hand value.
"From price comparison and demand inclinations we find that in South Africa there is a higher demand for the items which are more visually distinct and easily identifiable as belonging to a brand," Luxity says. "Items which are very subtly branded tend to move slower, and thus are more undesirable/hold a lower resale value. This doesn’t appear to be the trend with resellers who operate more generally in Europe and America."
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