The Dreaded Recession has begun, and yes, you feel it too. Many of you may be looking to liquidate so you can pad your pockets during these leaner months. We understand and have all been there! Here are a few things that will help guide the best decisions for you & your wallet.
The Recession has already begun- we have to accept that.
How badly I you need the cash?
Which platform will give me the most?
Unfortunately we’re already in a recession, and at Miami Bags it’s evident in the numbers. That’s okay! It’s a buyer’s market right now. It’s not the best time to sell if you’re trying to generate a big profit off of a purchase or if you’re trying to get back what you spent. This brings us to our next question.
How badly do you need the cash?
If you want to sell your bag for fun & have a little extra spending cash, we suggest to hold on to it. If you can sacrifice a few small things, the payout will be larger down the line when our economy ramps back up.
Now is the time to buy-I mean seriously, go look at those Birkins and Kellys dropping it like its hot-when months ago they were marked up five times the retail price. Short story is: If you can afford to keep it, you should, until things get better.
Which platform will give you the most?
This question is for those of you that really want to sell the bag and/or need the cash. When money is tight, peace of mind can be priceless.
The next question would be how, and which platforms do I utilize? We always want our customers to get the most out of their buying AND SELLING. We aren’t here to lead you astray even if you go with another competitor. Stay away from the Real Real, Rebag, and Fashionphile if you’re trying to get the most bang for your buck. Stick to individual seller platforms like Poshmark and Vestiare. You will be able to sell directly and only lose 15-20% from the platform. We also offer to buy bags depending on the condition, style, and brand.
Hopefully we come out of this recession swinging, and that while you’re waiting in the wings, this little bit of information has helped.
DM or email us with any questions, or to submit your bag for purchasing. Happy shopping and selling!