Tips for finding luxury and designer items at lower prices | Personal-finance

Christel Deskins

The RealReal is a marketplace for consigned luxury goods, where you can get some items for a fraction of their retail price, according to Sasha Skoda, head of womens at The RealReal. “If you were to purchase a current season Gucci sneaker, they’re probably going to be priced pretty close […]

The RealReal is a marketplace for consigned luxury goods, where you can get some items for a fraction of their retail price, according to Sasha Skoda, head of womens at The RealReal.

“If you were to purchase a current season Gucci sneaker, they’re probably going to be priced pretty close to retail because they’re so in-demand,” Skoda says. “But if you were to purchase maybe a past season Tory Burch dress, you could potentially get it for up to 90% off the original retail price.”

There are other places to shop for these types of savings, too. But if you’re not shopping at a trusted establishment, you could be vulnerable to phony goods.

“The more brand awareness that exists about a specific brand, the more people try to counterfeit the product,” Serdari says.

Stay safe by sticking to reputable sellers. The RealReal, for example, has a team of experts that authenticates the items it sells. On the other hand, snagging what looks like a low-priced Prada tote listed by a seller you don’t recognize on eBay can be much riskier.

Check out the outlet

Outlet stores, where brands sell their products straight to consumers, can also be sources of savings, but they likely won’t offer the same items you would see from the brand elsewhere.

Serdari says products are often manufactured specifically for an outlet store. They’ll usually be the same quality but not the current collection from the brand. Despite this downside, outlets are still a good option if you want the social recognition and logo of a label without paying as much for it.

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