The indispensable consumer resource unveils the value and trend shifts within the luxury market
NEW YORK, Dec. 13, 2023 /PRNewswire/ — Rebag, the authority for buying, consigning, trading, and selling luxury accessories including handbags, fine jewelry, watches, and more, releases the fourth edition of its Clair Report, a consumer resource uncovering shifts within the luxury market pertaining to retained brand value and pricing trends. Culled from the data retrieved from Rebag’s revolutionary pricing tool Clair, Rebag’s 2023 Clair Report investigates the value of luxury brands on the resale market to reveal the most worthwhile investments of the year.
“2023 welcomed several interesting shifts in the luxury resale market”, says Charles Gorra, CEO and Founder of Rebag. “This year’s Clair Report illuminates the impact of primary market scarcity and price increases on resale value, pop culture’s influence on value retention, and the continued growth of the second-hand watch market, among other key data points. We hope these valuable insights provide transparency and inspire confidence in consumers making luxury purchases.”
Key Insights from the Clair Report:
- Telfar, recognized as the top-performing brand in Rebag’s 2022 Clair Report, continues to impress, achieving a remarkable 228% average value retention in 2023
- Hermès maintains an enduring foothold in the luxury market. for the fourth year, retaining 110% of its retail value
- Fendi climbed 4 percentage points supported by styles like the Baguette, the First, and the Sunshine Shopper
- Celine, Prada, and Valentino stayed strong throughout 2023, essentially maintaining their retention value from 2022 despite challenging macroeconomic conditions
- After Louis Vuitton introduced a waitlist for the iconic Neverfull, a classic entry point to the brand, the already-popular style climbed 8 percentage points to an impressive 136% average value retention
- Several top brands experienced slight declines in average value retention given that primary market price increases outpaced those in the secondary market. Savvy buyers will know that this trend only emphasizes the potential to uncover exceptional value in the resale market for many coveted luxury handbags
- Audemars Piguet and Patek Philippe emerged as the standout watch performers, with increases of 41 and 14 percentage points, respectively, aligning Audemars Piguet with Rolex for the first time at 107% value retention
- Cartier emerges as an exceptionally investment-worthy watch label; the versatile Tank remains a timeless favorite, with the Must de Cartier Tank and Tank Solo boasting remarkable 95% and 94% average value retention, respectively
Trending in 2023
- The Art of Quiet Luxury
- The prevailing trend of 2023 was undoubtedly “quiet luxury,” which prioritizes understated elegance over ostentation. Brands like The Row, Loewe, and Bottega Veneta, offering logoless, meticulously crafted designs, have flourished, boasting impressive 59%, 60%, and 52% value retention this year, respectively.
- Top Performers Include
- Loewe Basket Tote (92% retained retail value)
- The Row N/S Park Tote (85% retained retail value)
- Bottega Veneta BV Jodie Hobo (73% retained retail value)
- Top Performers Include
- The prevailing trend of 2023 was undoubtedly “quiet luxury,” which prioritizes understated elegance over ostentation. Brands like The Row, Loewe, and Bottega Veneta, offering logoless, meticulously crafted designs, have flourished, boasting impressive 59%, 60%, and 52% value retention this year, respectively.
- The Power of Barbie Pink
- Beginning with the presentation of Pierpaolo Piccioli’s “Valentino Pink” collection in March 2022, the hue started gaining prominence. The following summer, during actress Margot Robbie’s global ‘Barbie’ press tour, pink apparel and accessories dominated. In 2023, pink handbags notably retained an average value of 81%, surpassing the 76% average value retention for all other colors combined.
- Top Performers Include
- Chanel Single Flap Quilted Lambskin Mini (110% retained retail value)
- Chanel 19 Flap Bag Quilted Leather Medium (102% retained retail value)
- Prada Re-Edition 2000 Hobo Tessuto Mini (81% retained retail value)
- Top Performers Include
- Beginning with the presentation of Pierpaolo Piccioli’s “Valentino Pink” collection in March 2022, the hue started gaining prominence. The following summer, during actress Margot Robbie’s global ‘Barbie’ press tour, pink apparel and accessories dominated. In 2023, pink handbags notably retained an average value of 81%, surpassing the 76% average value retention for all other colors combined.
- The ‘And Just Like That…’ Effect on Fendi
- To gauge the impact of the ‘SATC’ reboot’s second season, Rebag analyzed data from three months before the premiere compared to three months post-finale. Rebag focused on the performance of two prominently-featured Fendi bags, the Peekaboo and the Baguette, the latter of which has a long-standing association with main character, Carrie Bradshaw. During this period, the Peekaboo exhibited a significant 48% increase in average value retention, while the Baguette experienced a noteworthy 34% increase.
- The Value of Watches & Jewelry
- Audemars Piguet and Patek Philippe emerged as the standout performers, with increases of 41 and 14 percentage points, respectively. Additionally, we are beginning to see the impact of LVMH’s acquisition of Tiffany & Co.; with a 50% average value retention, certain styles by the label are especially high performing, such as the Return To Tiffany Heart Tag Choker Necklace (94% average value retention), which was originally launched in the early 2000s but can likely attribute its lift to this summer’s Return to Tiffany x Beyoncé Collection, which brought the iconic style back in demand.
Additional Notable Finds
- Most Searched Bag Styles
- Celine Triomphe
- Louis Vuitton Neverfull
- Prada Re-Edition
- Christian Dior Book Tote
- Louis Vuitton Noé
- Prada Cleo
- Most Favorited Bag Styles
- Telfar Shopping Tote Faux Leather Small
- Gucci GG Marmont Flap Bag Matelassé Leather Super Mini
- Chanel Classic Double Flap Bag Quilted Caviar Medium
- Saint Laurent Lou Camera Bag Matelassé Chevron Leather Small
- Louis Vuitton Multi Pochette Accessoires Monogram Canvas
Rebag’s 2023 Clair Report contains research and data from Clair, Rebag’s proprietary luxury appraisal index that uses several factors, including retail price, demand, and research to determine the exact pricing of Rebag items for cash or credit. Rebag’s luxury experts culled from data from the trailing 12 months to reveal the biggest movers on the luxury resale market.
For more information, and to access the Clair Report, visit rebag.com/clairreport
Press Contact:
FACTORY PR
[email protected]
212.941.9394
About Rebag:
Rebag is the authority on buying, consigning, trading, and selling luxury items, offering users unprecedented transparency and flexibility with their purchases. Founded by Charles Gorra in 2014, Rebag is one of the fastest growing retailers in the US, and has established itself as a leader in the luxury resale space. With the launch of its Consignment tool in late September 2023, Rebag is now the most flexible selling platform allowing customers to buy, sell, trade and consign in one easy transaction. Rebag’s intelligent Clair technology, which uses millions of data points to determine the resale value of designer items, enables customers to receive instant payment, a first in the resale industry. The digitally native company has opened retail locations in New York, Los Angeles and Florida. In 2020 and 2021, Rebag was named one of Fast Company’s Most Innovative Companies. Rebag has been featured in the New York Times, Business of Fashion, Vogue, TechCrunch and more. For more information, visit www.rebag.com.
SOURCE Rebag
