‘Cost of living pressures’ forcing Aussies to sell designer handbags, exclusive sneakers
Rising costs across the country are hitting people hard, and it means some are selling off designer handbags and exclusive sneakers to raise extra cash.
The cost of living crisis is forcing some Australians to sell collectable items such as designer handbags, Lego and exclusive sneakers – and they’re earning as much as $25,000, according to a new report.
A report from eBay Australia, produced in partnership with Deloitte Access Economics, found there may be an estimated five million collectors across the nation.
The first-of-its-kind report also revealed Aussies have earned on average $5000 to $10,000 by selling their collectables over the past three years.
More than one in four Aussies collect goods such as coins, toys, sneakers and art, while more than 40 per cent of collectors or those interested in collecting have a financial objective in
mind, the report showed.
Coins, Lego sets, toys and handbags are the most popular categories for collectors and prices for these items have skyrocketed in the past three years.
In 2019, a 1999 Pokemon Base Set Charizard 4/102 unlimited holo trading card was selling for $300 but will now fetch as much as $2400 – a staggering 790 per cent increase.
A Pokemon 2016 Evolutions Booster Box previously sold for just $200 in 2019 but jumped by a massive 725 per cent to $1300 by 2022.
Aussies are prepared to fork out for collectables. The most expensive trading card ever sold on eBay Australia was a Michael Jordan Autographed 1st Championship 1991 Commemorative Card, which sold for over $100,000 in NSW.
Meanwhile, the average price of a Lego King’s Castle set sold on eBay rose from $200 to $600 last year – a 200 per cent increase.
Designer handbags have also had people scrambling, with a Hermes Kelly 32cm bag previously listed for $6700 in 2019 jumping to an extraordinary $25,800 by last year.
A Chanel Coco Top Handle bag was also being sold for $3700 back in 2019 but in the past three years this has soared to $7000 – an increase of 80 per cent.
“We know collectors are passionate about their luxury handbags whether buying new
and preloved items to wear as fashion statements or holding on to as potential investment pieces,” eBay Australia’s head of fashion Brooke Eichhorn said.
“With increased cost of living pressures, Aussies might be able to find valuable items in their closet and make some extra cash while helping keep the circular economy moving forward.”
When it comes to sneakers, Nike Jordans and Dunks are popular.
From 2019 to 2022, the Nike Jordan 4 Bred’s price increased from $360 to $530 while the Nike SB What The Dunk Supreme was sold for over $16,000 in South Australia last year.
Alaister Low, eBay Australia’s sneaker and trading card expert, said sneaker culture is growing rapidly – and in Australia, a sneaker is sold every two minutes on the site.
“Largely, sneakers are a fashion statement heavily influenced by celebrity and US culture,” he said.
“This has helped sneakers flip from a faux pas to a flourishing fashion statement in a matter of years. Sneakerheads are deeply embedded in sneaker and streetwear culture, hanging out for the latest drops and limited edition sneakers to snap up highly coveted items.”
The research also found Gen Z and Millennial shoppers were the most likely to buy collectables, with half the shoppers from those age groups keen to hunt them down.
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