LuxuryRare, a Certified Pre-Owned Luxury Platform, Officially Opens in Collaboration with SayFree
The overseas luxury goods market in South Korea amounts to approximately 17 trillion KRW for new products and 7 trillion KRW for secondhand luxury goods. In terms of new products, South Korea ranks as the 7th largest market globally, following the United States, China, Japan, and others, and has continued its growth trend recently despite challenges such as COVID-19.
Alongside this, rational luxury consumption by domestic consumers through various channels, including so-called overseas direct purchases, is steadily expanding in scale. Despite this quantitative growth, the luxury market, characterized by high purchase prices, is inevitably accompanied by controversies over authentic versus counterfeit products.
The luxury market, which for decades was mainly distributed through offline stores, has recently expanded into online and mobile platforms. The biggest issue for both buyers and sellers is the authenticity and genuineness of the products.
Experts responsible for this role in the industry are called luxury appraisers, and the explosive growth of the market has led to a severe shortage of luxury appraisers.
To meticulously and professionally appraise a wide range of high-priced luxury goods, the skills and experience of luxury appraisers are essential. Amid this, overseas luxury goods certified as 100% authentic through the professional and systematic inspection process of Japanese luxury appraisers have been introduced to the rapidly growing Korean luxury market.
GalleryRare, a leading Japanese secondhand luxury goods trading site, has launched the ‘LuxuryRare’ service in collaboration with Ssafree, which operates Korea’s certified secondhand trading platform ‘MarketJjin,’ and has started selling famous brand products such as Herm?s, Louis Vuitton, Chanel, and Rolex to Korean customers.
Park Dong-wook, CEO of Ssafree, which operates the ‘LuxuryRare’ service, stated, “We are supplying overseas luxury goods thoroughly inspected by Japanese luxury appraisers to various domestic luxury consumers, including the MZ generation, at the same purchase prices as in Japan.” He explained the partnership between the two companies by saying, “GalleryRare in Japan takes full responsibility for 100% authentic certified products and free overseas shipping, while Ssafree provides the most optimized user interface and domestic payment systems.”
Mizutani, Executive Director in charge of global business at GalleryRare, expressed confidence by saying, “We hope that the confusion regarding authenticity will end with GalleryRare’s entry into Korea, as the company has been recognized by the Japan AACD Association for never having sold counterfeit products over the past several decades,” emphasizing their commitment to selling only 100% authentic products.
‘LuxuryRare’ integrates detailed explanations of each brand and product, written directly by GalleryRare’s experienced luxury appraisers, into the “Luxury Stories” section to enhance general consumers’ understanding of luxury goods and greatly assist in actual purchases. For example, detailed explanations about Herm?s engravings allow consumers to determine the manufacturing year and value of the product, and rich descriptions are provided for different types of products such as bags and rings.
Additionally, interesting stories about the history and origins of famous brands are introduced along with various real photos, providing specialized knowledge about luxury goods that could not be found on existing luxury sites.
How Korean luxury consumers, who possess more insight and expertise about luxury goods than any other country, will receive the “LuxuryRare” service is expected to be evaluated by the market following the full launch of the service.
Ssafree’s LuxuryRare service is available through PC and mobile web, the MarketJjin app, and newly registered overseas luxury goods can be found daily on Naver Shopping.
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