Dior bags are known for their luxurious and timeless design which makes them a popular choice among fashion enthusiasts and collectors alike. As a result, they hold their value in the resale market welll. However, pricing Dior bag models can be tricky as it depends on various factors including very subjective ones.
All resale businesses, professional fashion resellers, luxury consignment stores or high-end vintage dealers, are used to browsing through the sold products section of marketplaces to try and get a sense of optimal pricing. Because of a lack of time, they tend to look at the first ones and make a quick decision. Which can make them lose time and money! As pricing is a determinant factor in sell-through rates of luxury items, resellers should be more wary of their pricing strategies. On the other hand, any seller wants the same: optimizing their margin. In particular, when it comes to the most coveted leather goods, which include Dior iconic bags, they will look to capture the maximum value.
The question thus asks itself, how can one determine the optimal price of a good without spending hours browsing through the pages of Vestiaire Collective, Rebelle, or other resale marketplaces? Our answer: Technology !
At Oly, we have partnered with Fantum Research, a pricing specialist in luxury secondhand fashion products; to make sense of all the data available on the resale market. Through the power of Artificial Intelligence, Fantum gathers, cleans, and analyzes millions of data points to provide resellers with valuable and actionable insights. Our first joint-report focuses on Dior’s most coveted bag models in the resale market, providing a quantitative overview of the resale prices at model, colors, material and condition levels.
In this article, we share some key insights. To get the full report, you can reach out to us.
The condition of the Dior bag is one of the most important factors in determining its resale value. Unsurprisingly, a bag in excellent condition will fetch a higher price than a bag with scratches, stains, or signs of wear and tear. Accurately assessing the condition of a bag is thus a crucial part of determining its value. For the purpose of this, and future, reports, conditions will be ranked as follows, New/Never worn, Gently Used, Used, Worn. When looking at Dior bag models, we can see that their condition has a significant impact on their resale value. For example, a Lady Dior bag in "Used" condition will sell for 19% less than a bag tagged as "NewNever worn/". If the bag has visible marks and is labeled “Worn”, the price decreases by 70% compared to a “Used” one.
A “Worn” Saddle bag will sell for a price 46% lower than a "Used" one, and 56% lower than a Saddle bag marked as “New/Never worn”. However, the smaller price difference can be explained by the vintage status of the Saddle bag, which makes it more appealing even if its condition is not perfect.
The Bobby, a more recent model, will sell for 36% less if it is used compared to if it is in excellent condition.
The rarity of the Dior bag model also plays a crucial role in pricing. Some Dior models are more popular than others and have a higher demand in the resale market. The rarer the model, the higher the price it can fetch. Therefore, it is essential to research the model's availability and demand before setting the price. You can also highlight the bag's unique features or limited edition status to attract potential niche buyers such as collectors.
For instance, a Bobby bag stays on the market for an average of 12.2 days before being sold. This is lower than the average of Dior bags, reflecting the model’s popularity. The high resale price is correlated to its popularity: a Bobby bag can be resold for more than €3000, which is three times higher than the average resale price for Dior bags.
The original price of the Dior bag is also a significant factor in determining its resale value. The higher the original price, the higher the resale value. However, the condition, rarity, and age of the bag must also be considered. The iconic Lady Dior bag is now priced at 5300€ on the official website, and it remains one of the most highly valued Dior models in the resale market as on average, a Lady Dior bag is sold for 3000€.
Not only is the Luxury Handbag resell market influenced by the addition of new models by designer brands, another force : celebrity/influencer endorsements, also plays an important role. An example is Rihanna who has several Dior Saddle bags in her collection, and wore one acamo version last summer that she sported with a maternity crop top. Such appearances can make the price of specific models skyrocket in a matter of days.
It is essential to keep up with the latest market trends and adjust the price accordingly. Analyzing efficiently (and effortlessly!) the resale market thanks to technology and data can give you a real edge on your pricing and supply strategy. And good news, Oly and Fantum Research can do this for you!
In conclusion, pricing Dior bags in the resale market requires research and careful consideration of various factors. By taking into account the condition, rarity, age, original price, and market trends, one can price their Dior bag models accurately and attract potential buyers. With the right approach and attention to detail, you can ensure that your Dior bag gets the attention it deserves and fetches a fair price in the resale market. And this is all the more important because the better the price, the higher the chance of being highlighted by the algorithms of the marketplaces!
These shared figures are just a few data insights picked from our comprehensive report. With Fantum Research, we analyzed the resale and pricing dynamics of iconic Dior bag models.
Our mission at Oly is to help resellers sell more, faster, in less time. And a good pricing is the guarantee of a high sell-through!
If you want to get the full report, or know more about Oly, visit our website here, or get in touch with us directly at firstname.lastname@example.org.
If you want to know more about Fantum, you can visit their website (coming soon) or get in touch with them directly at email@example.com.