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Even though fair condition bags, shoes, and accessories show signs of heavier wear, The RealReal’s report said demand for fair condition bags is up 130% this year. For example, a Chanel flap bag in “fair condition” is $4,900, but in “excellent” could cost 65% more, or about $8,000. But, with the recent rise in fair condition, shoppers have embraced imperfection. They’re willing to buy older, worn items that are made well and still remain beautiful, and they wear them with pride,” said McCandless. Within certain fashion circles, the worn look has become a badge of honor,” she said.
Persons: Alexander McQueen, aren’t, Rati Sahi Levesque, Samantha McCandless, , McCandless, , Millennials, Z, “ We’re Organizations: New, New York CNN, CNN Locations: New York
“Demand for higher-priced luxury brands at resale is down, which is pushing prices for brands like Chanel, Gucci and Louis Vuitton down.”At the same time, she said, demand for previously owned lower-priced luxury brands — such as Miu Miu and Bottega Veneta — is up. They are no longer willing to pay the same price at resale that were willing to pay last year for brands like Hermes, Gucci and Louis Vuitton,” Skoda added. According to The RealReal’s Annual Luxury Consignment Report 2023, which was released Thursday, handbag resale prices fell 20% for Louis Vuitton, 17% for Gucci, 10% for Hermès and 9% for Chanel over the past 90 days. Resale prices are cooling somewhat for luxury handbag brands like Gucci and Louis Vuitton, according to The RealReal. As they embrace lower prices, resale shoppers have become less picky about the condition of the items they buy.
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