The vintage handbag market has no fears

There’s no denying it: handbags are the driving segment of the entire luxury market. In fact, it’s no coincidence that, with the continuous price increase in leather goods among major Maisons, customers have felt increasingly discouraged from investing in new models, perceived as excessively expensive compared to their functional value or stylistic longevity. Of course, not all bags are the same: some represent fleeting trends, while others, despite the passing of time – continue to embody a romantic aspiration and a form of secure investment. In this context, vintage has become much more than just an aesthetic trend: it is a shared language among aspirational clients, collectors, resellers, and new speculators. As reported by Pambianco News, the auction Handbags Online: The Paris Edit, organized by Christie’s in late April, is just the latest signal of a parallel economy that now operates with its own logic, often more stable and compelling than that of traditional retail. The €4.4 million raised is not just a headline figure, but confirms a deeper trend: the second-hand luxury bag market is completely untouched by the broader luxury crisis. On the contrary, it seems to be strengthening precisely while the primary market struggles to generate desire. Today’s demand no longer focuses on new items, but on rarity, exotic materials, and discontinued or limited edition pieces. It’s no coincidence that 76% of the lots auctioned were sold above their highest estimated value: a Kelly in porosus crocodile is not just a desirable object, but an asset with a recognized and, more importantly, growing value.

The ongoing growth of the vintage segment highlights how the secondary luxury market has become the only one seeing a truly engaged customer base willing to spend. While the primary market chases new tactics – collaborations, capsule editions, and global ambassadors – to justify price hikes and increasingly fast product cycles, second-hand relies on narratives of authenticity, exclusivity, and longevity. Unsurprisingly, even in China, the major pain point of post-pandemic luxury, there has been a boom in second-hand platforms and stores, despite vintage previously being “at odds” with traditional consumption values. The reasons are manifold: on one side, a search for more conscious consumption; on the other, a growing awareness that true treasures – and therefore true investments – belong to past decades. The result is a polarization in purchasing behavior: while some chase novelty, others build a portfolio of iconic objects with the same rigor applied to selecting real estate, watches, or artworks.

After years dominated by platforms like Vinted, eBay, or Vestiaire Collective – created to democratize access to second-hand – and the boom of thrift stores and markets in major cities, the market is undergoing a new transformation. Are auctions the new frontier of luxury vintage? Certainly, traditional circuits like Christie’s and Sotheby’s remain reserved for ultra-luxury clientele, not because they are inaccessible to the public, but because the products offered often go well beyond the spending power of aspirational buyers. At the same time, hybrid platforms like Catawiki – one of the main online auction platforms in Europe – are reaching a new, younger,r and culturally connected audience. As reported by Owler, in 2023 the platform recorded €98 million in revenue, with 12% growth compared to the previous year, despite an unstable macroeconomic context. The recent introduction of the “Buy Now” feature led to a 20% increase in active sellers – a sign that the line between resale and investment is becoming increasingly blurred.

The vintage landscape is now split into two factions: on one side, secondhand is rising in status, shifting increasingly toward the auction world, where buying pre-owned is no longer mundane but elitist; while on the other, ecosystems once reserved for a limited class of consumers are becoming more democratic. This two-way dynamic is clearly seen in the growing interest in platforms like Catawiki, which provide access to valuable items without necessarily belonging to the ultra-high net worth bracket, alongside traditional auctions from Christie's or Sotheby's. The convergence of democratization and rediscovery of authentic value is radically transforming the approach to consumption. Whereas second-hand fashion was once viewed merely as a cheaper alternative to new, today it is emerging as a superior form of luxury. More than ever, high-end vintage is no longer just an alternative – it embodies true luxury, one that finds its strongest expression in awareness and expertise.