The Best Places to Sell Chanel Bags in London

Posted on

Whether you are looking to sell Chanel bags for cash or consignment, it is important you choose the right individual or company to work with. With over 35 years in resale, we share out top tips for finding the right reseller. Here are a few questions to ask yourself:

1. What is the most important factor when choosing where to sell your Chanel?

This may sound a little obvious but actually it spans quite a lot of different aspects of selling luxury designer goods. You need to work with a company that you can trust. Not only do you need to trust them with the items of high value, but also trust they are transparent with their pricing, keep your private information private (especially if you are high profile) and have the right market to sell your goods swiftly. Often companies can over promise and under deliver, so work with someone who has years of experience in the industry. Sign of the Times has been trading for over 35 years and combines both years of human knowledge and the advances of modern technology to offer you a comprehensive resale service for all of your luxury goods. Beyond trust, resale is all about the relationship between the client and reseller. You might well need to work with this company in your home or be able to have open and honest conversations about prices and money. You need to feel 100% confident that you can confide in them and that your privacy and personal information will never be discussed.

2. How can I evaluate a company’s seller network & pricing?

A seller network is built up over years of trading it is more than just a number of followers on Instagram, it is a catalogue of industry insiders, specialist collectors and celebrity stylists that are hunting for the perfect item. A good agent has both a fantastic catalogue of stock but also a great sell through rate. It is important that they price goods perfectly for sale. Stay away from younger companies that look glossy on Instagram and promise you a good price but haven’t built up a good buyer network yet (unless they offer to pay you cash upfront).

3. How much can I earn for my Chanel bag?

Most agents will either offer to buy your Chanel bag outright or offer to sell it on consignment. At Sign of the Times, you can see our different commission structures below. Decide which one you would prefer and approach companies that offer you that. The good thing about Sign of the Times is that you can have both services under one roof as well as sell all of your other designer items making it a simple one stop shop. Generally, the lowest commission on the market will be around 80% commission for you, even on big market places where the seller does all the work. You will notice that we buy Chanel for cash upfront and this level is slightly less than the commission level because we guarantee a sale and money is transferred within 24 hours.

4. Should I sell my Chanel bag myself?

This is certainly an option if you have experience in selling high value goods however, it is not for the faint hearted. Prepare yourself for lots of questions, to have to take lots of photos, write detailed descriptions and queue at the post office when you sell it. Make sure that you also sell to buyers that have positive reviews as we have heard horror stories of buyers claiming that authentic bags are fake.

5. How much will I be able to sell my secondhand Chanel bag for?

This is a great question and one that we get asked multiple times a day here at SOTT HQ. The price you receive back depends on the year, condition, model, what it comes with (i.e. receipt, dust bag etc) and desirability. For example, the bags that command the biggest return are the classic models such as the Chanel Classic Flap bag, The Boy Bag and the Wallet on a Chain. Seasonal bags are still popular, but they do not hold their value quite as well. Black generally sells the best out of all the colours so in turn can command a higher price.

6. How can technology be used in the resale of Chanel?

Sign of the Times is steeped in history having been selling the wardrobes of British high society for over 35 years in the heart of London’s prestigious SW3 postcode. That being said we also have foot in the future of technology and can see prices that particular bags have sold for which determine our future pricing. We also use Machine Learning to authenticate Chanel bags through Entrupy. This means that you do not need to provide us with a card of authenticity and that we can deal with bags that do not have their hologram for any reason.

If you are time poor, busy and want a quick and easy service, we are the service for you. From same day London collections to quick payment we can offer you a bespoke and personal service. We are female founded, and our large and growing team is entirely female. We understand resale, impeccable service and have a passion for fashion so contact the SOTT team today to see how we can help you sell Chanel in London.