Affordable Luxury – Pre-Owned Luxury: The concept of ‘Shared Economy’ is finally making Luxury affordable

Luxury comes at a steep price and not all of us can afford the price tag a Chanel or a Louis Vuitton handbag carries. Fashion aficionados, who wish to own the luxury designer handbag of their dreams, save up for months or probably even years before they can afford one. The steep price tag a Prada or a Gucci accessory carries is definitely not for the faint-hearted. But, for all those fashion aficionados that wish to own a Chanel bag but are on a budget, My Luxury Bargain an online portal where you can buy authentic pre-owned luxury fashion, is the answer. The website is a vibrant marketplace that serves the money makers and the money savers. Ladies can sell their unwanted treasures on the website and fashionistas can satiate their sartorial appetite on a budget. The portal has tied up with a professional authenticating agency based out of Los Angeles for authenticating each item that is listed on its portal.

To make thing more interesting the website provides easy EMI’s on every item that is listed and an option to further negotiate the price of an item with its seller. A buyer can make a direct offer to a seller by clicking on the ‘Negotiate’ tab which is available on each product description page. Not only does this give the thrill of shopping luxury at less but also serves as a powerful tool for the website to gain valuable insights on how much are Indian luxury spenders ready to spend on pre-owned luxury. Some interesting statistics shared by the company told us that an India buyer is ready to spend up to Rs 42,000 when it comes to buying a Louis Vuitton handbag in India, but when it comes to a Gucci or a Prada handbag a buyer is ready to spend only up to Rs 30,000. While men accessories sell faster than women handbags and men don’t usually engage in negotiating the price of an item; it can be implied that men luxury fashion is a stronger and a more important market to concentrate on for pre-owned luxury fashion.

To ensure that a buyer is aware of the condition of an item that she is interested in, the website gives a detail condition guide of each item. The condition guide categorizes each item as New, Like New, Gently Used or Well Used. Moreover, any signs of wear that are visible to the naked eye are specifically mentioned on the product description page. Each item carries at least 6 to 11 images with a zoom in photo feature that helps the buyer make an informed decision when buying a pre-owned handbag or accessory.

The website started in May 2016 and has a gorgeous collection of luxury designer handbags, cufflinks, belts, ties, sunglasses, scarves and fashion jewellery from most luxury fashion brands. The website is soon going to implement a new section for abstract art and is conducting research to introduce India ethnic wear from designer like TarunTahiliani, Manish Malhotra, Ritukumar and many more prominent Indian designers on its platform.

With buyers in India increasingly becoming brand conscious and price conscious, pre-owned luxury is a powerful concept that bridges the gap between dreaming of luxury and actually acquiring it. One couldn’t agree any less with the famous American television actress Bo Derek when she said: “Whoever said money can't buy happiness simply didn't know where to go shopping.”