I’ve always said a regret purchase is only made worse by holding onto it out of guilt. Sadly, it’s only costing you more by holding onto it.  The great news is, with the rise of the second hand market, it’s highly likely you’ll now be able to start making money back on these pieces.  Sure, you might not get back what you paid, but it will give you a little bit to reinvest back into something you will wear.  You’ll also enter into the exciting world of the circular fashion, where you’ll see buying clothes can actually be an investment in the future of your wardrobe, rather than just pieces you purchase to be worn and eventually thrown away.

There are a few reasons the second hand market is on the rise, most notably as buyers become more sustainably conscious, but also it gives buyers the opportunity to really hone in on purchasing pieces based on their own style rather than trends.  Budget savvy buyers also know they can find their favourite brands at a half or a third of the price if they are happy to just wait a season or two.

More recently, the second hand market has also shown how well it can respond to the needs of the customer, in a buy-now, wear-now world, as opposed to the fashion industry which is still working to seasonal models. This was made particularly evident during the start of isolation when second-hand, brand name sweat tops and pants were selling for more than their retail price on eBay. In fact some of them still are! While retailers scurried to increase their supply of these products, private sellers were able to benefit from selling their preloved treasures immediately. Some of these sellers probably weren’t even ready to part with their pieces, but just saw a great opportunity at the time.

Keen to find out how you can start moving your pieces on, in a sustainable and rewarding way?

SELL

ONLINE: There are plenty of options to sell online so it’s important to find the one that is right for you. From Facebook Marketplace, and Buy, Swap and Sell Groups to Instagram, eBay and Depop they all have their different benefits and audiences. Research to see where your items might attract the best price. Remember to always go through a secure payment system like Paypal. Note that Depop is still growing it’s Australian users and audience so if it seems not for you now, it’s one to watch.

CONSIGNMENT STORES: Consignment stores are becoming the new boutiques in our inner city strip shopping areas.  Selling your quality second hand designer goods for you, they take the hard work out of selling, while still giving you a percentage of the sale.  All you need to do is take your pieces in and they will offer you a store credit or a percentage of the sale for any items they think they can sell.  If selling online seems overwhelming, this is a great option to consider. A few consignment stores to check out include Mutual Muse, Bruce, Secondo and SWOP. Be sure to read through the store terms and conditions so that you understand what you can and can’t trade before dropping in store.  It’s also a good idea to research a few so that you understand where your pieces might fit best, as all of the stores hit a particular style in the market.

PRELOVED MARKETS: If you have quite a few pieces to sell, registering for a stall at a preloved market can be a great option as you have the potential to sell quite a significant amount of items in one day and you don’t have to worry about uploading every piece online or delivering parcels.  You will pay a small site fee and will have a stall space to sell from. A few to consider include New to You Markets, Camberwell Sunday Market and Round She Goes Market As you would understand, these are on hold at the moment, but hopefully will return in the not too distant future.

SELLER TIPS:

  • Always wash and iron/steam your pieces be photographing them or taking them somewhere to sell, show that they have been cared for and valued. This could greatly maximise the end sale price.
  • Be honest about any imperfections and wear and tear.
  • Do your research to know what pieces are selling for.
  • Keep an eye out for key trends and know what people are after to increase your sale price.  Knitwear, boots, winter coats and Athleisure are all in extra demand at the moment.

SWAP

When it comes to circular fashion, it’s not all just about making dollars.  If you can swap something you no longer wear for something you will wear, I’d say that’s an awesome investment!  Organise swap parties with friends or keep your eye out to join bigger swap events like The Clothing Exchange. A fairly new online option to check out is Swap-A-Porter.

RENT

If you have something sitting in your wardrobe that you’re not ready to part with, but know that people might keen to get their hands on for a one-off, get in on the rental market.  While I’m sure many of you know you can rent clothing from companies, did you know you can also rent your own pieces out?  This could be dresses, designer handbags, shoes. Renting your items through an online platform can help you reach more customers but also give you some piece of mind as you lend out one of your most prized possessions. One to consider is Rent A Dress.

DONATE

Finally, as the second hand market continues to grow it’s vital to remember the importance of donating quality items to those in need.  A feel-good reward is as powerful as any! But, really consider where your items are being donated to and only donate items in good condition. Keep an eye out for local community collection call outs so that you know they are really going to someone in need and if you have anything sitting in your wardrobe that requires repair or is beyond repair, leave it out of the donation bag and find an alternative solution for it.

So, what are you waiting for?  Go into your wardrobe and have a good honest sort through. Take out the pieces you haven’t worn in over 12 months and if you can’t see yourself wearing them again then get selling, swapping or renting.  Also, remember that every new purchase you make has the potential to be an investment.  So, buy well, choose quality and care for every piece and you might just be able to create a circular wardrobe that eventually pays for itself.

Need some more advice?  I’m just an email or phone call away!