While most luxury brands are experiencing a major slowdown in sales in Hong Kong and China, the re-sale market is booming. While second hand luxury goods stores like Milan Station have always existed, several new Asia-based businesses have launched online giving shoppers the option to buy must-have clothing and accessories at a fraction of the price, while sellers get to offload their unused items. Best part of it all is that it makes fashion more sustainable – one person’s trash is another’s treasure after all!
Here are three websites that are worth checking out as you clean out and update your closet for the new year.
Luxify has probably been around the longest and as such has over 9,000 users and over HK$3.5 million worth of merchandise. Think of it as a high end eBay – basically the site is a marketplace connecting dealers and sellers with buyers, the majority of whom are based in Hong Kong. Items can be vintage, new or used, and range from anything from bags and shoes to art, wine and property. Most items have a set price although users can try their luck and “make an offer.” A concierge service helps sellers with everything from photos to pricing.
Guiltless isn’t officially trading yet although its blog section hints at the types of treasures you will be able to find when the site is up and running, ranging from Alexander McQueen shoes to Dolce dresses. Aide from clothing and accessories, there will also be a lifestyle section. Unlike other marketplaces, Guiltless will hold stock for sellers, which will be available to buy for up to 80 per cent off retail. They take up to 30 per cent commission from sellers but also offer dry cleaning, restoration as well as very chic packaging.
The newest of the bunch, Collector Square launched in Asia in November although it was founded in Europe in 2013. Thanks to its connections with leading French auction house ArtCurial, each of the 5,000 items available have been selected by a team of experts who have extensive experience working for international auction houses. The emphasis here is on accessories – watches, jewellery and handbags – from major brands like Dior, Hermes and Louis Vuitton. Many of the pieces are classics such as Cartier’s Trinity rings or styles that are no longer available making the site great for collectors. In terms of pricing, most of the items are listed as 30 to 40 per cent lower than retail. Currently all stock comes from Paris.