People generally purchase luxury goods because they convey social status and wealth; rarely do consumers look to brands like Louis Vuitton and Hermes for their quality. If luxury goods were cheap, they obviously wouldn’t hold the perceived value they’re known for; however, many people desire high-dollar brands. As such, people who aren’t wealthy or have considerably high incomes are interested in purchasing luxury goods via secondhand markets.
But here’s the problem with secondhand markets for luxury goods
Luxury handbags, shorts, and shoes don’t grow on trees – they’re produced by manufacturers. Businesses manufacture clothing and accessories all over the world at slim margins. Many are OK with breaking the law by creating counterfeit goods for sale on unregulated black markets.