If you’ve been shopping the resale market for designer bags, watches, or high-end fashion lately, you’ve probably noticed: the pre-owned luxury market isn't the bargain haven it used to be.
Prices are up—sometimes dramatically. But this isn’t a fluke. The secondhand luxury space is undergoing a transformation driven by rising demand, generational shifts, and even global investment trends. Below, we break down why this is happening and what you need to know if you're buying or selling in 2025.
The Explosive Growth of Pre-Owned Luxury
- In 2019, the resale luxury market was valued at ~$25 billion globally.
- By 2024, it reached $37.2 billion, with forecasts projecting nearly $78 billion by 2033.
- This equals an annual growth rate (CAGR) of 8.5–10%, outpacing many sectors of the broader fashion industry.
Why Prices Keep Rising in Resale
1. Demand Is Skyrocketing
From Gen Z to collectors, demand is higher than ever. Limited inventory, timeless styles, and social status all contribute to competitive resale pricing.
2. The Perception Shift
Pre-owned is no longer “used.” It’s curated, authenticated, and often more exclusive than buying new.
3. Luxury Brand Behavior
- Brands like Hermès, Chanel, and Rolex limit supply and regularly increase retail prices, driving resale values up in turn.
4. Cultural and Social Validation
Thanks to influencers, TikTok, and sustainability conversations, pre-owned items are now aspirational, not alternative.
Forecast: 2025 and Beyond
- Watch resale alone may reach $35 billion by 2030
- Luxury resale in the U.S. is expected to jump from $8.65B in 2024 to $13.04B in 2030
- Gen Z will dominate the market — and reshape it (see our post: How Gen Z Is Changing the Pre-Owned Luxury Game)
Smart Tips for Buyers
- Research market value before purchasing
- Invest in classics — think Louis Vuitton monograms, Hermès Kellys, Cartier Love Bracelets
- Buy from trusted resellers (like House of 1880) for authentication guarantees
- Think long-term — some items appreciate significantly over time
For Sellers: The Market Is On Your Side
Pre-owned luxury isn’t just growing — it’s gaining prestige. That means pieces you bought 5–10 years ago may now be more valuable than ever. The key is curation, condition, and brand recognition.
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Final Thoughts
Pre-owned luxury is no longer second-best — it’s strategic, stylish, and often smart investing. Whether you’re buying, selling, or just observing the space, understanding the market is essential.
Stay tuned as we continue to explore the cultural, emotional, and financial power of fashion that lasts a lifetime.
Citations:
-
Bain & Company: The Future of Luxury Report 2024
https://www.bain.com/globalassets/noindex/2024/bain_report_luxury_goods_worldwide_market_study_spring_2024.pdf -
Vestiaire Collective: 2024 Circular Fashion Insights
https://www.vestiairecollective.com/circular-fashion-report -
McKinsey & Company: The State of Fashion 2023
https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion -
The RealReal 2023 Luxury Resale Report
https://www.therealreal.com/luxury-resale-report -
Forbes: Why Secondhand Luxury Goods Are Surging in Price
https://www.forbes.com/sites/rachelarthur/2023/11/28/why-secondhand-luxury-goods-are-more-expensive-than-ever/ -
Bloomberg: Luxury Inflation Is Real
https://www.bloomberg.com/news/articles/2024-01-12/why-luxury-goods-prices-keep-rising