Scary but true. Even though the stock market may be having its ups and downs this
month,there’s an investment that appreciated 629% in just a week: a
blue silk bustier top from Target, reports WSJ.com. The top, designed by Proenza
Schouler, orginally sold for $35, but because it was featured in a TV
commercial and had already sold out at Target, its owner was able to
sell it on eBay for $255.
This month, women across America will go through their
annual spring-cleaning ritual, clearing out their closets in hopes of
recouping a few dollars from clothes they no longer like — or just
never wear. But the market for reselling clothing is changing, with
some of the least-expensive goods seeing big jumps in value and online
auction sites letting shoppers effectively scalp hot-selling items from
H&M and Target in particular. It’s a big shift from the traditional
approach, in which shoppers resold their clothes after they’d worn them
for a while and would fetch only a fraction of the purchase price.
Among the items that have found buyers willing to pay
substantial premiums: A Roland Mouret dress that sold for $108 at Gap
in January appreciated 100%. A sweater dress from the limited-edition
Stella McCartney line that H&M sold in 2005 went for more than six
times its original price on eBay this past January.
Though it’s hard to predict precisely which items will
ignite a bidding war, the feeding frenzy for fast fashion is beginning
to resemble the demand for high-priced "it" handbags.
The irony is that these clothes, created by designers
such as style icon Karl Lagerfeld and the trendy Viktor & Rolf duo,
were intended to give the masses a chance to own designer duds. They’re
made from less-expensive fabrics than the usual designer fare and
feature lower-quality tailoring, with price tags to match. But when
fast-fashion chains carry these designer collections for a limited time
only — and at only some of their stores — the scarcity can drive up
prices on the secondary market.
Most designer clothes, however, don’t fetch much, with
the exception of certain vintage couture items and brands with a cult
following. On eBay, the most searched terms in apparel, shoes and
accessories are Coach, Louis Vuitton, Abercrombie & Fitch and
Chanel. There is also demand for certain items by designers Norma
Kamali and Ossie Clark. The prices typically reflect a garment’s
condition as well as availability.
Read entire article: The Gold in Your Closet: Investment-Grade Bustiers by Teri Agins
Image: WSJ.comSee the Top Ten Summer 2016 Trends for Women Over 40