If everyone has a price… what’s yours?
Not for your soul or integrity but for your Hermès Birkin, lol. Although it’s not likely (yet not impossible) that a stranger will randomly offer a sum for your treasured bag, a luxury retailer will. That is, they will if you ask. Your decision then is whether to accept. It’s not as easy as you think.
Take the example of one PurseBop community member. Three years ago she celebrated the purchase of a Birkin 30 in a favored color and hardware. Exactly what she wanted and offered at the boutique. And, as life would have it, it remains sitting in the box in the back of her closet. She could provide multiple excuses for its nonuse, none of which involve dislike or disappointment. But, there it is.
A high end reseller recently offered her more than she paid (including tax) for the bag. Two years prior, when a different reseller offered a comparable amount, she declined. At that point she still had high hopes for using it. But with the passage of time and the experience of the pandemic, she wonders whether she will.
Let’s highlight this, however: a BNIB (brand new in box) three year old Birkin commands more than paid (and the retail price has not yet increased). That alone is newsworthy: the Birkin increased in value just by resting in a closet! How much more? The outlet offered a 21% premium. Could she do better? Maybe. But maybe not. However a 21% increase in value over three years exceeds many other investments.
Yet, the decision to sell is difficult. Who knows when she will receive another offer, let alone be able to repurchase a bag with comparable specs, should she change her mind again. It is hard to let go of a bag that makes you smile, even if it never sees the light of day.
Of course, as is the case with any wise investor, you don’t want to leave money on the table. Will someone offer more? Wait to see whether the next retail price boosts the secondary market offer?
So, what would you do? Sell or stay? Let us know… and we’ll pass it on to our dear reader.