One woman’s purge is another’s splurge at the luxury resale sites that have popped up online over the past decade. If you’re cleaning out your closet for the new year, here are a few places where those sacrificial offerings can find a new, loving home, and where you can convert your inventory to cash.
MaterialWrld.com: This online trade-in service appraises women’s designer clothing, shoes and handbags shipped in from across the country – any season within the last five years for clothes and shoes, within the last 10 years for handbags and wallets – at no expense to the item’s owner.
“Designer” means names like Chanel, Theory, Saint Laurent, Vince and Michael Kors (but not Michael Michael Kors). It’s not a consignment site – Material Wrld makes itemized trade-in offers upfront, before the items are placed for sale on its sibling site, TheWrld.com (or returned or donated). If the customer accepts the offer, she gets a gift card of that value from a choice of Material Wrld’s retail partners, including Intermix, Shopbop, Saks Fifth Avenue, Bloomingdale’s and more.
TheRealReal.com: This glossy, expansive, addictive consignment site authenticates women’s and men’s luxury fashion, accessories and jewelry as well as home goods and art before it curates items into daily themed sales, such as Forever Favorites (Hermes handbags, Burberry trenches, Louboutin heels). Consignors don’t cash in until the item sells, but it typically takes only three days, and then they net 60-70 percent of the sale price. Free pickup is offered in 16 U.S. cities, or free shipping via FedEx.
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ShopeDropOff.com: A trailblazer of luxury consignment, eDrop-Off has stood the test of 10 years in business, reselling designer clothing, handbags, shoes, jewelry and accessories on its eBay platform, with free nationwide pickup. But it also keeps evolving. eDrop-Off recently launched The Collection, which includes an e-commerce site that rotates in a curated selection of resale merchandise, at fixed prices, every two to three weeks.
LuxuryGarageSale.com: Not just online, Luxury Garage Sale has brick-and-mortar boutiques in Chicago and Dallas, merchandised like the other upscale shops at its Snider Plaza home. For those with designer goods to consign (think Chanel, Givenchy, Yves Saint Laurent), LGS offers at-home pickups in major cities including New York, Dallas, Chicago, Los Angeles and Seattle. Consignors receive 60 percent of anything that sells or they can opt to convert sales to LGS store credit and receive 70 percent.
ThredUp.com: With a designer category but not exclusive to luxury, ThredUP buys and resells not only women’s clothing, shoes and bags but also kids’ (girls’ and boys’) and maternity items. It sets the bar at “like-new” and includes a section for items that still have their tags on. Typical brands include J.Crew, Theory, Diane von Furstenberg and Boden.
ReLabld.com: A new, invitation-only site with pickup service currently in Chicago and New York City, Re/Labld’s spin on luxury resale is that you earn credits – to buy merchandise on the site – each time you list one of your own items for sale. (You don’t have to wait for it to sell.) Once invited, you log in and complete an online form where you describe your item, upload pictures and provide an address for Re/Labld to pick up your item. It then appraises it and, if you accept that price, it lists it in the currency of Re/Labld credits. You instantly receive credits for the full appraised price – no waiting for someone to buy your item and no commission for Re/Labld, said founder/chairman Sina Foroohar. When you find an item you want to purchase on the site, you can redeem credits. If you don’t have enough credits, you can purchase credits during checkout for $1 apiece, and 50 percent of proceeds will be donated to Re/Labld’s charity partners, including JesseWhiteTumblingTeam.com, ChineseMutualAid.org and UNCF.org. Furthermore, you can relist your purchase within 30 days of delivery and receive credits for the full purchase price, provided there’s no change in condition. Re/Labld picks it up again – no hassle with shipping.