Understanding How The RealReal Makes Luxury Items Great Value Propositions for Their Customers
For many people, luxury items are objects to only admire, marvel at, and be wistful for, mainly due to one reason, and that’s their price. Luxury items typically come with exorbitant price tags attached, making them inaccessible to a sizable chunk of the population. However, that dynamic is starting to shift, and it’s due in part to the emergence of the company known as The RealReal.
How Luxury Items Become More Accessible to More People
Rati Levesque, chief merchant for The RealReal, recently talked to Quartzy’s Jenni Avins to discuss the different ways in which the company creates value for their customers.
First off, Levesque talked about how they make luxury items become realistic purchases for people. Levesque describes the company as “a little bit of a gateway drug” because they act as a kind of gatekeeper for luxury items.
Obviously, buying an item that can be easily described as high-end at full price can cost anyone a pretty penny. However, if that luxury item was owned previously, its sticker price is no longer as extravagant.
The obvious reason that could give buyers pause here is that the item in question is pre-owned, and thus, there are questions that need to be answered about its current status. Potential buyers being worried about that is understandable, but they will not want that pre-owned status to be the reason they miss out on owning a luxury item.
After all, luxury items are crafted with durability in mind. They are made to withstand the trials of time, so even pre-owned, their beauty will remain evident. Plus, the discerning eyes of the people working with Levesque can spot high quality items from miles away. Once they put an item up for sale, shoppers can rest assured that they are getting great value for a high-end item.
How Clients Benefit from the Sale of Their Luxury Items
According to Levesque, timing is key when it comes to consigning. Similar to how stocks behave, there are good and bad days for luxury items as well. When a type of item reaches its peak value, obviously, the move is to consign that for resell. Getting the timing right on that transaction could lead to huge profits for the seller.
For those interested, Levesque revealed that watches are among the best sellers for them at the moment. Watches from top-of-the-line brands such as Rolex and Gucci are doing really well right now, and there are plenty of shoppers looking for ones to buy.
Watch collectors currently in possession of items from Gucci and other luxury brands may be best served to sell right now, because the chances of making a huge profit are simply too good.
Levesque also pointed out that unique items are quite popular among shoppers because people want pieces that can help them stand out. There’s always value in a unique item, and this point in time in particular may be especially ideal for selling one of those.
Interestingly enough, Levesque also shared that the vast majority of their consignors use the money they make from selling something to buy a new item. That would suggest that the company is helping both the secondary and primary luxury item markets.
Luxury items are commonly thought of as these objects reserved only for the wealthy and no one else, but that is no longer the case.
Thanks to The RealReal, shoppers who want to get their hands on items such as gorgeous Gucci watches, designer clothes, or any other high-end item have an easier way to do so. Sellers also now have a way to continue to obtain value from a luxury item they once loved but are now willing to let go. It’s a win-win situation for everyone involved.