“Over the last couple years, we’ve seen our consignors turn into savvy shoppers, calling us on a daily basis from retail stores, asking what designer brands they should buy to get the highest resale value in the future. We realized this was becoming a trend, and built RealBook to inform and empower consumers with data to help them manage and make smart luxury investments,” said Founder and CEO Julie Wainwright.
Photo credits The RealReal
Can The RealReal lead luxury resale from an App? Seems the proclaimed leader in authenticated luxury consignment, is now launching a RealBook. Which is an app that allows consumers and consignors to calculate the resale value of their luxury goods in categories that include women’s and men’s fashion, and fine jewelry & watches. Additionally, smart and savvy shoppers now have a predictive tool to use when buying retail that accurately assesses the future value of designer items they are investing in today.
Over 500,000 Luxury Goods Sold
The RealBook app, a “Kelley Blue Book” type service contains dynamic features that allow consumers to view and sort thousands of products by resale price, save products under ‘favorites’ to receive resale price updates, share products via text, Facebook, Twitter, and email, and shop similar products on The RealReal. Click here to download the app and find more details.
The RealBook app is fed by proprietary data aggregated from The RealReal’s database of over 500 designer brands and over 500,000 luxury goods sold to date.
An example of resale value data points for luxury designers derived from the RealBook app include:
- Resale value of popular brands: David Yurman: 45% off retail, Hermes accessories: 30% off retail, Jimmy Choo: 65% off retail.
- Brands that hold their value the longest: Cartier, Chanel, Christian Louboutin, David Yurman, and Van Cleef & Arpels.
- Range of resale value: Between 10-90% off original retail price.
“When I make a designer purchase, I look at it as an investment and an asset. I consider whether the item might have residual value when I’m no longer interested in owning or using it, and consigning that asset at The RealReal lets me recoup part of my initial investment quickly and easily. Discovering The RealReal has completely changed the way I shop,” said Robin Silverman, avid consignor and shopper on The RealReal.
The RealReal More Than 3 Million Members
Everyone with luxury items now has a luxury resale marketplace in The RealReal with more than 3M members to sell their luxury items easily, quickly, and at top resale value. In just three years, The RealReal is now processing more than 40,000 luxury goods per month, and has shipped more than 500,000 luxury items to date. The RealReal is changing the way people think about luxury shopping and consignment. Find out more at www.therealreal.com.