Pre-Loved . . . Luxury?

We’ve all heard of thrifting. Buying books, clothes, furniture - basically anything - as secondhand goods. A lot of us are fans of thrifting, often flocking to thrift stores to see if we can snag anything good this round, or to search for something we need at a price way more acceptable than the original.

But thrifting for luxury goods? Pre-loved luxury? Now, that’s a little more niche.

As the times shift, so do trends. Believe it or not, pre-loved luxury only started emerging in the mid-2010s - that was about 10 years ago. It only gained traction around 2018 and exploded when the Pandemic hit.

We’re here to answer only one question: why are luxury secondhand goods so high in demand?

Firstly, the demand for these goods is much higher than the supply. Available stocks for luxury goods come in limited quantities, not nearly enough to meet the demands of the thousands of people eager to own a luxury piece. Hence, the long queues outside LV boutiques.

Secondly, sustainability. For lack of a better term, reusing and recycling pre-loved bags helps to reduce CO2 emissions as well as carbon footprints. When it comes down to matters of the environment, people choose second hand over brand new to reduce wastage made during manufacturing. This also provides the unwanted bag another chance with a new owner.

Lastly but definitely not least, the more affordable price of pre-loved luxury is definitely a boost. Compared to the original retail price, getting your luxury goods pre-loved is much more cost-friendly. Why queue for a brand new Lady Dior when you can get the exact same one, pre-loved, for a fraction of the price? Depending on the condition of the item you want to purchase, it’s possible to get 30%-50% off from the retail price for a pre-loved piece. It’s even possible to get an even lower price for it, if you don’t mind its older condition.

Demand, sustainability and affordability: the three driving factors behind the booming luxury resale business, a business that has allowed unwanted bags to find new homes and lonely owners to meet their dream bag.