Sunday, March 04, 2018

How much is that Mulberry in the window?

One of the most common queries on our Mulberry Facebook group right behind "is this bag genuine?" is "how do I price my bag that I want to sell?" We are usually happy to help but sometimes the sheer volume of queries (alongside approving selling and chatting posts) means we can't reply until later - or not at all. So here a few good pointers:

Your bag's condition
Have a good and honest look at your bag with the eyes of a buyer. With that I mean, forget that it's your bag for a minute and imagine you just bought and received it in the post. What's the condition like? That scuff that you normally don't notice might suddenly bug you. The little pen mark would take the shine off it for you. (It goes without saying that any fluff, crumbs or marks that can be polished away, should be removed. Sounds grim but whilst you put up with your own dirt, you would probably slightly wretch at that of others!)

How much are other bags selling for? 
A good place to research prices are these:
Facebook selling groups - Simply pop the name of your bag in the search bar and see which other bags of the same model are currently up for sale. Tip: click on "All Posts" so view those that have already sold.
Ebay - Again, search for your bag model and then filter by "sold".
Evaluate your findings
1. Compare the condition of those bags that you researched with yours. Where does your bag sit?
2. Consider rarity - how many search results did you actually get? Lots of bags of the same model means it's buyer's market: they have lots to chose from. Only a couple or handful?

Also consider
1. Seasonality - In spring or summer you might find it harder to sell oak or darker leathers. In winter the candy/pastel colours might not be so covetable. Coming up to the sale, people might be saving their pennies to buy new for not much more than pre-loved prices. And after the sale they are spent up. 
2. Other factors that drive desirability - The market can be incredibly fickle. I've seen my fair share of crazes come and go - and that's just on the selling pages! Somebody receives a fairly rare item and suddenly everybody wants it. Wait a month or two and suddenly loads are for sale - and nobody wants them anymore. Keep your eyes on ISO (In Search Of) posts and chats.
3. How quickly do you want to sell? Want to sell quickly? Pick your price at the bottom of the range. Don't mind waiting for it to shift? You can afford to set your price slightly higher and wait until somebody comes along who is happy to pay that. 
4. Not sure you actually really want to sell? Set a price (which may well be on the higher side) at which you will be absolutely fine if your bag goes. Even if you miss it, you'll be happy to have gotten that money - probably to buy something else?!
5 . Consider if you'd be approachable for an offer. If somebody pm's you and asks whether they can make an offer, don't be offended. See what they have to say and consider it. If it's not enough decline politely.

Want to find out more about selling your Mulberry (or other designer bag) on Facebook pages? Start here!

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