Sneakers, high-end watches and jewelry and a couple of desirable collections of designer apparel are expected to be the most sought-after items in the luxury resale market this year, according to The RealReal.
In a State of Luxury Consignment data report, which will be released today, the resale site ranked Off-White x Nike sneakers as the top item to consign in 2021, with Louis Vuitton mini bags, Jordan x Travis Scott sneakers, Chanel sandals, Rolex sports models, the Kim Jones-designed Dior Men collection, Celine boots, Tiffany & Co. pendant necklaces, Daniel Lee-designed Bottega Veneta bags and Moncler down jackets rounding out the top 10.
The RealReal said in the report that 2020 was “an unpredictable year, driving more fluctuations in resale value than ever before.”
Rati Levesque, chief operating officer, said: “The pandemic has had a lasting impact on the resale market. Through the challenges of the past year, many used the extra time at home to slow down, tune out the noise of everyday life and reflect on what matters. Data and insight from our 20 million members show a mind-set shift toward investing in, and living by, what we truly value.”
She said Gen Z and Millennial consignors continue to dominate the luxury resale market with investment pieces, wardrobe essentials and late ’90s and early Aughts vintage pieces yielding “rising returns.”
The report showed that 35 percent of the new consignors last year were Gen Z and Millennials, and the top 30 percent of all consignors earn an average of $9,000 a year.
Last year, the luxury brands with the highest resale value were Goyard, Van Cleef & Arpels, Louis Vuitton, Hermès, Chanel, Rolex, Patek Philippe, which jumped three spots on the top 10 list, Gucci, Cartier and Moncler.
TheRealReal saw that investment bags such as the Hermès Kelley bag, Chanel’s Cambon and small Coco Handle bag and Gucci’s Horsebit and Marmot bags were the most popular with shoppers. In men’s, Dior messenger bags, Louis Vuitton x Supreme and Bottega Veneta backpacks garnered the most interest.
“It seems counterintuitive that in a year where people were largely stuck at home, demand for high-value bags skyrocketed,” said Sasha Skoda, head of women’s for The RealReal. “But, aside from being a smart investment, a luxury bag adds polish to any outfit, even the current uniform of laid-back loungewear. Shoppers turned to investment bags to add style to the most basic outings, which drove up value for sellers.”
A similar sentiment drove interest in high-end jewelry last year, according to the report, with classic, yet fun, pieces such as Van Cleef & Arpels’ Alhambra necklace, Cartier’s Love collection and Tiffany’s T collection among the top choices. But emerging brands such as Suzanne Kalan, Mizuki, The Vampire’s Wife and Temple St. Clair also found their fans.
“While timeless collections from marquis brands perpetually hold strong value over time, this year we’re also seeing shoppers gravitate toward fun pieces that spark joy and stand out on screen in video calls,” said Patricia Stevens, director of fine jewelry and watches.
Turning to watches, the most expensive piece to sell last year was a Patek Phillippe Nautilus 5722G which sold for $117,995 in five days. That was followed by a Richard Mille RM030 for $107,495 and a Rolex Sea-Dweller Special Edition, which went for $89,995.
Overall, the report said Rolex’s increased popularity and limited availability allowed the brand to continue to strengthen its lead as the top-selling watch brand.
In the sneaker world, not surprisingly, top resale items included the Yeezy x Adidas, Off-White x Nike and Louis Vuitton trainer shoes. And other high-fashion collaborations including Sacai x Nike as well as the Jordan brand, spurred by the Last Dance documentary last year, also increased in value, The RealReal said.
In apparel, it was all about comfort, according to the report. “In 2020, we saw shoppers upgrading to new essentials for a new decade,” said Mayank Hajela, senior director of merchandising. “A year of embracing loungewear led to rising demand for elevated comfort pieces with polished edges. As the line between luxury and streetwear continues to blur, it’s resulting in a new set of wardrobe basics for a new generation — one that’s gender fluid and can easily be dressed up or down.”
Among the most popular items were cashmere sweaters from Brunello Cucinelli, loafers from Gucci, trench coats from Bottega Veneta and scarves from Hermès. And the top choices with the younger crowd included puffer coats from Gucci, graphic hoodies from Burberry, waist bags from Louis Vuitton and luxury sneakers from Dior.
And finally, the value of vintage pieces continued to soar last year, the report said, growing 67 percent from the first to the second half of the year. Gucci came out on top for men and women with resale value up 12 percent. Louis Vuitton, Jean Paul Gaultier, Celine, Christian Dior and Cartier also increased their average sale price growth year-over-year.