Hermes Bags Resell Price Drops to 5 Million Won
Prada Suit Valued at 10 Million Won Now Worth 1 Million Won
Company Says "Certain Models Are Better for Luxury Investment"
A famous YouTuber 'HwesaewonA', who has 1.29 million subscribers, was shocked to find that the secondhand market prices of luxury items in their possession were lower than expected.
On the 30th of last month, YouTuber HwesaewonA uploaded a video titled "Selling Unused Luxury Items" on their YouTube channel.
The video showed HwesaewonA visiting an offline store of a secondhand luxury platform, where various luxury products such as Gucci and Prada that they owned were appraised at less than half the store price. They were stunned to see that even unworn items and bags from brands known to sell well secondhand were priced lower than expected.
What disappointed HwesaewonA the most were the Chanel and Herm?s bags. Although Chanel and Herm?s bags are used as investment tools to the extent that there is a term called 'Shatech' (Chanel tech), the bags HwesaewonA brought did not have any premium added.
HwesaewonA showed a blue Chanel Boy bag purchased about five years ago at a store in Japan to the staff, saying, "I bought it for 4 to 5 million KRW. I also paid customs duties when bringing it into the country, so it cost more." However, the staff said, "This would be worth about 4.5 million KRW," explaining, "If it were black, the price might be a bit higher, but since it is navy and lacks accessories..." HwesaewonA expressed regret, saying, "I thought I would at least break even and make a little pocket money. It seems the models that work for Shatech are different." The Herm?s Bolide bag HwesaewonA bought domestically for as much as 15 million KRW also showed significant depreciation rather than a premium. The staff said, "You could probably sell it for about 10 million KRW," adding, "This is a model with somewhat lower demand among Bolide bags."
The item with the greatest depreciation was a custom-ordered suit from Prada. HwesaewonA said, "I paid over 10 million KRW for the top and bottom," emphasizing, "It comes with a dedicated suit case and hangers unique to this series." However, the company said, "When initials are added, the purchase rate tends to drop a bit," and "It could probably be sold for around 1 million KRW." When HwesaewonA could not hide their disappointed expression, they added, "Even a 30 million KRW Chanel mouton coat can sometimes sell for around 2 million KRW."
In response, netizens unanimously stated that the so-called 'Shatech,' the idea that buying famous luxury brands and reselling them secondhand is profitable, is just an illusion. They commented, "It's impossible to make money with Shatech," "Unless you maintain items at the highest level, you shouldn't do luxury investment," "A 10 million KRW item becoming 1 million KRW is what luxury means," "Even Chanel Classic Black is hard to sell at a high price," and "Selling is a job in itself."
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