Curating a Handbag Collection Could Be Your Key to Financial Success

You may have dreamt of a financially successful life for yourself, but you’re not quite there yet. Well, join the club.

Being financially successful takes years of work, finding the right career path for you and then evolving in that career, to a position that pays you well. If you’re not from an already-wealthy family, building up this type of financial success can take decades.

Sometimes, it can feel like such a drag. Especially when you’ve got an eye for expensive things (like me). But it’s okay because we’re young and we have time and there are alternative ways to being financially successful in the meantime. Like collecting and selling designer handbags. Now that sounds more fun than your average day job, right!?

Tony Doan sold his mum’s designer bag collection on eBay, and made enough money to take his family on a “much-needed holiday.” Furthermore, he’s gone on to sell heaps of luxury goods on eBay as a side hustle, and makes some serious coin.

“My mum had a vast range of designer handbags from brands including Louis Vuitton, Chanel, Gucci, and Dior, which she kept in her wardrobe gathering dust,” Doan tells POPSUGAR Australia.

“Luxury handbags increase in value over time, especially discontinued or limited edition ones, so we decided to sell them on eBay for extra cash, with the additional funds going towards a much-needed family holiday. 

“At first, it was a little nerve-wracking, but watching those bids go up in real-time was like ‘we’re eating lobster every night’ to ‘we’re getting that lobster stuffed with a smaller lobster’. In reality, she had a huge collection of luxury handbags already, so we both knew it was the right time to give them another life.

“More room for bags, more money, what’s not to love?”

Truly, he’s got a point.

Coming from humble beginnings, Doan’s parents started their lives working as strawberry farmers, “building a future for their children through hard work and dedication”, so Doan understands and appreciates the hustle. Grateful for their hard work and willing to work hard himself, however finding an interest in less conventional financial pursuits has been his journey to financial success.

“I love all things fashion, from supporting local artists and designers to the big-name industry leaders. Luxury brands carry a history and tradition of high-quality workmanship and materials known to last.”

“My passion stems from a lifetime of indulging all five senses with beautiful things, from perfumes to clothes, shoes, art, and music. I’ve adopted this mindset by pursuing many avenues of hobbies, from styling, art/design to hand modelling.”

It’s nice to be reminded that financial success looks different for everyone. While some may take the more conventional route of studying and working a 9-5, others like Doan, find that following multiple creative avenues can lead to similar financial success.

Doing what you’re passionate about might not be something you’re looking to monetise, but it’s never a bad idea to think about your hobbies as actual jobs, to see if the potential is realistic. Something as simple as a passion for designer handbags can turn into a wildly successful side hustle if you’re committed to the process.

“I’ve sold a handful of luxury goods and jewellery on eBay, but nothing to the extent of my mum’s handbag collection,” Doan explains.

“When listing the collection, I spent a lot of time proving to buyers that items were authentic and this wasn’t quick and easy. It involved taking pictures of the purchase certificate, logo, and stitching. Sellers don’t want to tarnish their online reputation by being uncooperative and suspicious and buyers don’t want to spend money on a replica that falls apart. They would have to take my word for it when I said the items were authentic. 

“With eBay’s Authenticity Guarantee service, sellers can show their item is the real deal – just look for the blue tick. The service also saves a lot of time for sellers since eBay will authentically verify your item for you – all free of charge! As winter arrives, I plan to clear out my wardrobe and sell some of my pre-loved handbags on eBay to make way for some new season purchases.”

Honestly, I’m starting to feel inspired to sell some of my pre-loved designer goods. Even if you’re not in a position like Doan with the luxury goods already in your possession, buying secondhand and reselling is always an option.

If you have a passion for op-shopping and love going to pre-loved markets, why not keep your eye out for some bargain authentic designers next time? It could be the start of a luxury collection that could make you money without you even having to think about it.

It’s refreshing to reimagine the way we think about earning money. Financial stress is real, especially when you’re young and still figuring out a secure financial path, but it’s good to remember that getting creative with it is always an option.

We asked Doan if he has any advice for those that might be interested in selling designer or luxury goods online because, as a beginning, the online marketplace can be a daunting place.

“Before you go to sell your luxury item, make sure to take good care of it so that you don’t jeopardise its value,” he said.

“Consider weatherproofing your handbag or holding onto the dust bag so you don’t scratch the material. Always keep authentication documents such as certificates somewhere safe.

“Once you’re ready to sell it, I would look on eBay to gauge the price other sellers have valued the bag at. It’s also worth considering if the item is limited or rare since this will be a factor in the cost you sell it for and how much money you can make.

When selling a high-end item, use the official escrow service and get insurance for shipping and tracking. If you’re selling it on eBay, its Authenticity Guarantee service protects both the buyer and seller. Be patient with the sale of your items, and enjoy sipping on margaritas by the poolside when you’re done.”

And with that, we’re off to the vintage markets. Happy shopping, queens.