Rebag Launches Auction to Redefine Resale Luxury Goods as Valuable Assets

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Apr 26, 2022, 11:00 ET

The luxury resale authority continues to push boundaries to amplify the shopping experience for its clients

NEW YORK, April 26, 2022 /PRNewswire/ -- Rebag, the authority in trading, buying and selling luxury accessories, including handbags, fine jewelry, watches, and more, announces the launch of Auction: a new way to procure the most investment-worthy luxury items that Rebag has to offer. Auction will further promote the idea of luxury goods as a valuable asset class, similar to how works of art are considered in the traditional auction world in that they retain or even increase in value over time.

Rebag's clients will know exactly when to expect new arrivals and benefit from fair access to must-have items in Rebag's expertly-vetted inventory, particularly rare designer styles. Every week, Rebag will list 2,000+ latest arrivals in two Rebag Auction cycles. Starting next week, from Monday 8AM EST to Tuesday 5PM EST, Rebag Rewards members will enjoy VIP Auction, during which bidding is open exclusively to them. Subsequently, all users will be able to bid on remaining items until Thursday 11AM EST. Following the two auction cycles, the collection will be available for immediate purchase on Rebag.com and at Rebag store locations.

The interactive and time-sensitive nature of Rebag Auction will increase client engagement and build brand loyalty, as those who seek one-of-a-kind items will be eager to enjoy access to weekly new arrivals and compete with other luxury enthusiasts to win the most coveted items from 50+ of the world's most sought after brands. In addition to Auction's thrilling nature, it allows clients to invest in exceptional items not only with confidence, but with ease. While many auction sites charge a buyer's fee, which can be up to 25% of the final price, no such fee exists with Rebag. Users will also benefit from setting a maximum bid and allowing Rebag to automatically bid on their behalf–an effortless way to increase their chances of being the final winner. Customers who win an auction will be able to checkout as usual for 48 hours, using any form of payment, including credit cards and Affirm financing, as well as Rebag Credit and Rebag Rewards. They will also be able to take advantage of Trade by selling luxury items they own in the same transaction in order to maximize savings.

"We are thrilled to be launching Auction to redefine what is considered a collectible in the luxury resale space," says Charles Gorra, Founder and CEO of Rebag. "Given the scale of our platform, we are now able to launch Rebag Auction to optimize liquidity for our customers, while giving them access to highly coveted pieces in the most exciting way."

From the most classic and collectible Hermès pieces, such as tricolor Kellys and Kelly Cut Pochettes, to limited edition and unique bags, from Louis Vuitton Since 1854 Capucines to sequined Chanel Flaps and more, plus exceptional jewelry, watches, and accessories making their auction debut, including Van Cleef & Arpels Alhambra necklaces and Audemars Piguet Royal Oak timepieces, handbag and accessory connoisseurs will be excited by the one-of-a-kind designer styles available via Auction. To learn more about Rebag Auction, visit rebag.com/auction.

The announcement follows the news of Rebag's recent partnership with Moda Operandi, featuring a one-of-a-kind digital trunkshow offering the luxury platform's clients exclusive access to more than 115 of Rebag's most sought-after styles; Rebag Rewards, a multi-tiered loyalty program offering various incentives at different levels; and Trade, a feature that allows consumers to buy and sell items in a single transaction. An extension of Clair, the company's groundbreaking pricing tool that launched in October 2019, Rebag's Trade offering empowers consumers to sell and shop seamlessly.

About Rebag:

Founded by Charles Gorra in 2014, Rebag is the authority on trading, buying, and selling luxury items. Currently one of the fastest growing retailers in the US, it has established itself as a leader in the luxury resale space. Rebag's intelligent Clair technology, which uses millions of data points to determine the resale value of designer items, enables customers to receive instant payment, a first in the resale industry. Rebag's unique Trade program offers savvy consumers the best value towards today's purchase. The digitally native company has opened retail locations in New York, Los Angeles, Greenwich and Miami. In 2020 and 2021, Rebag was named one of Fast Company's Most Innovative Companies. Rebag has been featured in the New York Times, Business of Fashion, VOGUE, TechCrunch and more. For more store information, visit www.rebag.com.

For further information, please contact:
Factory PR, [email protected], 212.941.9394

SOURCE Rebag