If you run a vintage clothes shop, or a general second hand shop that sells vintage clothes among other goods, then you may have wondered just how much you should be charging for your vintage items.
In this post we will explore some ways you can value your vintage clothing, to help you set prices that reflect each item’s true value that your customers will be happy to pay.
What Affects the Value of Vintage Clothes?
Here are the some of the things that can impact the value of any item of vintage clothing:
- Label – Some labels will always be worth more than others. Dior, Chanel, and other high-end designer labels will always attract high prices. But other labels might vary in value, depending on certain trends.
- Condition – Items in good condition will be worth more than items that are soiled, worn, or damaged. However, some items have “provenance”. If an item is particularly rare, or if you can prove that it was once owned or worn by a famous person, then buyers might be more willing to overlook a bit of wear and tear.
- Quality –Mass produced items made from cheap materials will be worth less than rare items made from high quality materials and with obvious care and craftsmanship.
How To Value Vintage Clothing
There are a few things you can try to help you determine the value of any item in your stock. Including:
- Check online listings
- Immerse yourself in vintage culture
- Get a professional valuation
Some of these techniques might prove useful if you need to value large volumes of clothes as quickly as possible. Other techniques might be more costly and time-consuming, and so should be reserved only for items you suspect might be particularly valuable.
Be sure to test and adjust your prices. Be flexible, and be prepared to accept best offers rather than your asking price. Also be aware of how the seasons might affect an item’s value. People will likely pay more for a coat in the autumn or winter than they would during the height of summer.
We’ll go through each of the actions you can take in more detail below.
Check The Online Listings
Head to any site where people can buy and sell vintage clothing: Vinted, Depop, and eBay are good places to start.
If possible, look up the item’s label. But if the item does not have a label, try to find similar items based on its type, size, style, fit, pattern, and the approximate decade in which you think it might have been manufactured.
Pay more attention to final sale prices rather than listing prices. Ultimately, an item is only worth whatever people are willing to pay for it. You might see one item listed at, for example, £300, and another almost identical item that sold for around £50. If the listed item does not sell at the higher price, this suggests that the item’s true value is closer to £50 than £300.
Immerse Yourself in Vintage Clothing Culture
This is more of a long-term strategy that might help you develop your “eye” for spotting potentially valuable items, and your instinct for how much it might be worth.
Attend as many vintage events as you can and while you’re there:
- Pay attention to what people are selling, and what people are buying.
- Listen to the sort of questions buyers ask, and the sort of information sellers provide.
- Talk to other sellers, either in person or online.
- Share insights, and you can start to develop a joint understanding of current and emerging trends.
It can also help to pay attention to auctions. Shedd is a dedicated vintage auction marketplace in which every single item is initially listed at a low price with no reserve. This means that the sale prices may reflect authentic market demand from real buyers.
Finally, look out for industry guides. There may be specialist guides to current trends and estimated valuations for certain styles or brands.
Get a Specialist Valuation
If you come across an item that you suspect may be rare or valuable, and you want to make absolutely sure that it is not a fake, then it might help to get a specialist valuation.
A specialist can advise you on the item’s provenance, and they may even be able to help you restore the item to make it even more valuable.
Obviously, this will take time, and specialists evaluators will not work for free. But if you suspect you have a genuine Gucci on your hands, for instance, then any costs may be entirely justified.
Once You Understand How Valuable Your Stock Is, Be Sure To Get It Covered
You can get insurance that will cover you for the risks associated with stocking and selling vintage clothes. Stock insurance will cover your valuable vintage items for loss or damage whether they are on your shop floor, in storage, or in transit.
When arrangine stock insurance, you’ll need to think about:
- Accurate valuations: When getting cover for your vintage clothing business, it is helpful to provide your insurer with an accurate valuation figure for your stock. This way, they can ensure you are covered for the right amount, so that you will get the settlement you need should you ever need to make a claim.
- Particularly valuable items: Some insurers may only insure your stock up to a certain value, so it is also important to notify your insurer about any particularly valuable items in your stock, just in case they would push your cover level beyond the limit.
- Trends and value fluctuations: And remember that the value of vintage clothes tends to change! So be sure to revise your valuations as often as possible based on the latest trends, and to give your insurer an up-to-date value every time you renew your policy.
Get Vintage Clothes Shop Insurance From James Hallam
James Hallam is an independent Lloyd’s broker with a dedicated team of insurance professionals who care about protecting your business, whether you sell vintage clothes exclusively, or among other items in a second hand shop.