You know when people buy designer clothes and insist they’re an “investment” because they’re so “high quality” and “will never go out of a style”?
Well, I was never one of those people, but I was pleasantly surprised this week when the sole designer item I owned netted me a 10% profit in resale. As you might remember, I first attempted to sell my Herve Leger dress before I left for Paris. The listing was pulled from eBay on grounds of the item being counterfeit. After an endless array of emails between me and BCBG Max Azria Group, with numerous photos of every stitch on the dress to prove its authenticity, I relisted the dress nearly 3 months later. This time my ad was permitted to stay up and it sold!
I had paid about $600 or $650 for this gown 2 years ago. The retail value is somewhere around $1,300 so while paying $650 for a single piece of clothing can only be described as supremely idiotic (hey, I acknowledge that I was young and stupid then!) it’s only half as idiotic as paying $1,300. I bought the dress, it fit, I wore it out 4 or 5 times, and then I was bored with it. Moreso, I had been on the minimalism bandwagon for nearly a year now and was a bit ashamed I had something in my wardrobe that really just took up space. It was a novelty item, and I was ready to part with it.
I listed it on eBay with a starting price of $0.01, but my reserve price was $250. I figured I could cope with a $400 loss (about $200 per year of ownership, which is want a really adorable average dress costs anyway, and I was wearing a designer gown). I was expecting to get around $300 for it, since that’s what most Herve Leger dresses were selling for on eBay. I hadn’t cared at all for the brand since buying my dress, so I didn’t even know if it was still a hot item to own. God bless my ignorance.
It sold for $710.
If you’re surprised, I was too. The price jumped from $422 to $710 in the last 9 seconds.
It was almost too good to be true, and I briefly worried about the buyer not paying up, but the $740 ($710 dress + $30 shipping) was in my PayPal account less than 5 minutes later. I packaged and shipped the dress the next day. I almost wish I had given it a hug or something before we parted; it was like giving up a puppy for adoption. I hope that it has gone to a good, loving home.
But the best part is I sold the dress for more than I paid for it, earning a ~$60 profit or about 10% — that’s a 5% return each year, better than GICs right now! Who knew designer dresses were a good place to keep your cash? I almost wish I had more to sell..
On my Day Zero list, this was item #69 — hilarious because on my old Day Zero list “Buy a Herve Leger dress” was one of my goals. We’re full circle here ;)
I have always made a profit on my designer items… seems like the only market that’s doing well in resale :)
it’s so unexpected! It made me want to peruse thrift & consignment shops for items to re-sell and see if I can keep doing this…
Such an awesome surprise. Stoked for you!
Not a bad return on the dress, but somehow I don’t think I am going to be getting into the designer resale business any time soon!
That’s awesome!!! Glad you were able to re-list and sell it for a profit.
Think I know where I should be investing lol.
That’s really awesome though even though the original retail value still freaks me out. Heck the resale value is unbelievable. Good for you and this sale should help balance out your budget.
They’re scary numbers, I know =/ I was a far more materialistic person in my youth. It’s a part of myself I’m very glad to say goodbye too!
So that’s what Carrie Bradshaw meant when she said, “I like my money right where I can see it… hanging in my closet!” Sweet twist of fate for your Day Zero lists :)
hahaha oh SATC! My life becomes more like it every day =)
That’s just awesome!! I’d have been thrilled!! :)
While I was reading your post I thought your justification of spending $200/yr on this dress made sense… but I didn’t know you were going to make a profit!!! So awesome, I love when that happens. I remember selling 250 wine glasses after my wedding for a 200% profit (turned into a bidding war)… that was a good day.
This gives me hope for my items.
Herve Leger is one of the few lines that resell VERY well. Plus, your pink dress is considered a “holy grail” style and super duper hard to get now. I’m glad that eBay finally came to its senses and allowed you to post. Half of the dresses on eBay are fake, and they are almost never pulled down.
really? That’s so interesting.. I didn’t know the demand was so high! Very happy with the price it got though. It really was the nicest dress I’ve ever owned.
oh.. and more than half of the Herve Leger on eBay that is sold is fake. One of the other reasons why yours sold for more. Plus the pink dress came from Fall 2008, a season known for impeccable quality!
oooops you forgot the near 20% that ebay and paypal charge….. Best O Luck
I bought a pair of Christian Louboutin for $300 and sold them for $500. Although shipping, ebay fees (outrageous $48!) and Paypal fees took up almost $100, I still ended up with close to a $100 profit. I selling designer goods on eBay! :D
love*