I’ve talked about my purchasing experience before with Fashionphile, my favorite reputable source to buy secondhand luxury bags (I wrote about it here). But I couldn’t speak to the selling experience with them since I usually sell all my bags directly on eBay. I like eBay since it’s the platform with the lowest selling fees and I’ve been selling on eBay for years (and thus have enough feedback to be considered a legit seller). But when my Valentino purse (reviewed here) was not selling even after multiple price drops, I decided to finally try selling it on Fashionphile.
So the first step with selling with Fashionphile is to fill out their form and sending them some pictures of your item. Once you submit it, they get back to you in about 24 hours and they will let you know whether they will consign your item or if they will just buy your bag from you. They usually only consign higher ticket items like Hermes Kellys or Birkins, and they will usually do a straight buy-out for everything else.
If they decide to consign your item, then their fee is 30% of the selling price for under $3000 and 15% of the selling price for bags over $3000. They determine the sale price and if your item doesn’t sell, they reserve the right to put your item on sale (thus lowering the official sell price at the end). Also you don’t get paid until the item sells.
If they decide to buy it, then they will offer you a buy back price. You can get paid either by check or store credit. If you choose store credit then you get 15% on top of the buy back price. In the end they offered me a straight buy back and so I took it. It was about $200 less than what I was trying to sell it for on eBay, so I’m sure if I wanted to make more money I could have split the difference and sold my bag on my own for $800. But for the sake of research and to save me some time I decided to go with Fashionphile.
Once you get the buy back price, they send you a link where you commit to selling it to them and choose your payout method (check or credit). I went with credit since I purchase from Fashionphile all the time, plus I could get 15% more. Then from there you print out a shipping label that they provide and just drop it off at your nearest FedEx location. Once they get it, they send you the money. Seriously it was so easy.
So if you don’t have time or the right platform to sell your luxury bags and accessories I highly recommend selling with Fashionphile for the ease alone. Of course, it comes with a cost and you won’t be making as much money as you would if you sell it yourself. Based on that, I probably won’t be selling through Fashionphile any time soon, but if the stress of selling through Ebay ever gets to me (and believe me, there are some shady buyers out there so watch out), then I know where to turn to!
P.S. With my store credit I purchased a Celine Soft Cube bag, which I’ve been eyeing for months! And in the end I paid $180 out of pocket including tax and shipping because of the trade credit (and that’s for a $1700 bag). I’ve been using it non-stop and will review it soon!
{September 2019 Update: I reviewed the Celine Soft Cube bag here and used it so much I did a 100 wears later update post here. I also have tried selling with The RealReal which I wrote about here: Part 1 and Part 2. When comparing the 2 sites, I still prefer selling and buying high-end items on Fashionphile because you get the check really quick, Fashionphile will tell you exactly how much they will pay before sending the item in, and Fashionphile usually gives a higher payout. But The RealReal is the easiest if you don’t care how much you earn back on your stuff.}