If you need funds, it’s a real option to get cash for a pre-owned Louis Vuitton bag.
According to a South African reseller of luxury items, pre-owned Louis Vuitton bags hold their value better than any other designer brand.
How well Louis Vuitton bags retain their value in SA
If you’re buying a bag with resale value in mind, you need to choose your brand carefully.
A well-cared-for Louis Vuitton bag will sell, on average, for 69% of its original price, followed closely by Hermès at 68% and Chanel at 66%, according to reseller Luxity.
But don’t think a Versace or Burberry bag will hold its value so well.
Burberry bags are on the bottom resale shelf, selling, on average, for only 53% of the original price.
Strangely, it’s a different story for Burberry shoes.
They hold their value better than any other luxury shoe brand, reselling on average at 56% of the price of a new pair.
South Africans buy flashy, distinct brands
If you want to buy an investment item, go for a Louis Vuitton bag, Burberry shoes and Hermès accessories.
These pieces hold their second-hand value best in South Africa.
Here, luxury consumers like flashily branded, visually distinct items that are easily identifiable, such as Louis Vuitton and Chanel with their monograms and branding.
In the US, Europe and even China, demand for these brands has fallen away.
Luxury consumers are veering away from so-called “trashy” looks.
Buyers want “low-key, logo-free” pieces.
Wealthy shoppers prefer to pay for unique, hard-to-find pieces.
They’re avoiding highly recognisable handbags from brands like Louis Vuitton, Gucci and Prada that have become too popular.
This desire for more discreet luxury is said to be motivated by “yuppie guilt”.
Unsurprisingly, luxury brands have responded by launching limited editions.
They’re also making it harder for consumers to find their signature staples and looking for fresh ways to interpret their iconic logos.
Prices of Louis Vuitton bags in South Africa
In South Africa, a Louis Vuitton handbag remains the bag to buy as an investment.
Depending on the style, expect to pay an instore starting price of R17,400 for a new, entry-level Speedy 25 (strap not included).
The price goes up to more than R600,000 for a Capucines BB in exotic leather and considerably more for a special order.
If you dream of owning a Louis Vuitton bag without paying these hefty prices, consider buying an authenticated, pre-owned piece.
Getting cash for a pre-owned bag
If you need cash, you can release the value in your Louis Vuitton handbag in a number of ways. Each has pros and cons.
You sell your bag to a reseller of pre-owned, luxury pieces:
- pro – you don’t deal directly with the buyer
- con – you receive less than the bag’s full resale value.
Sell directly online
You sell your luxury Louis Vuitton bag directly through a pre-owned website or Facebook page:
- pro – you receive the entire sale amount
- con – you must find and negotiate directly with buyers.
Pawn your bag
You pawn your luxury Louis Vuitton bag for a loan:
- pro – you receive a loan against the value of your bag
- con – you’ll receive less than the sale value.
Using a Louis Vuitton bag to get a loan from lamna
At lamna, you can get cash for your pre-owned Louis Vuitton bag without the need to sell it.
The process is quick, professional and completely discreet.
Simply complete and submit the application form, providing as much detail as possible about your Louis Vuitton bag.
Once you’ve done this, we’ll contact you to arrange a convenient time to appraise the bag, conclude a secure loan agreement and transfer funds to you.
Your luxury Louis Vuitton bag will be stored at our secure facility.
When the loan has been repaid in full, we will return your bag.
At lamna, you will be assured of:
- independent and honest appraisal
- competitive interest rates that comply with the National Credit Regulator
- secure storage of the bag during the loan term
- same-day payment of funds into your account
- the services of a reputable and fully accredited loan provider.
As well as getting cash from lamna for your pre-owned Louis Vuitton Bag, we offer fast, discreet loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles or artwork.
Client borrows R10,000 for 90 days.
|Loan Amount||Repay Terms||Monthly Repayment||Total Repayment||Initiation Fee||Monthly Fee (Interest + Service charge)||APR|
|R10 000||3 months||R568.40||R12 902.20||R1 197||R560||60%|
The top investment-worthy luxury brands in South Africa now.read more
Should you be investing in luxury assets as the financial markets take a battering?read more
Economic instability due to the novel coronavirus pandemic has caused investors to seek more stable assets such as gold.read more