NewsThe market for pre-owned luxury goods has been growing by 10% each year, but specialized resale platforms have struggled to find a profitable business model.
Despite its astronomical price, the Kelly bag by Hermès has found a buyer. In December 2025, at the height of the Christmas rush, LuxSpace sold a gold leather model of the bag for €27,980. It was a secondhand item. Located in Paris's 8th arrondissement at 90 Rue du Faubourg Saint-Honoré, the boutique specializes in pre-owned luxury goods. Its founders, Zhao Xiujun and her husband, Wang Goan, chose the address for its proximity to the historic Hermès store, which draws crowds year-round at number 24.
LuxSpace offers more than 600 models, including the most expensive from Hermès, Louis Vuitton, Dior and Chanel. Most of the pieces cost several thousand euros. "If it's in good condition, the Chanel 2.55 can be worth €7,000 to €8,000," explained Qian Siu, who oversees consignments. That's 30% less than the retail price.
The highly select consignment shop caters to buyers who are purchasing luxury goods for the first time, "tourists passing through who want a souvenir of their stay in Paris," or "connoisseurs" seeking rare items, said Siu. The business is doing so well that the founders are considering opening a second boutique, also on Rue du Faubourg Saint-Honoré. Sales of secondhand luxury bags are soaring.
You have 77.08% of this article left to read. The rest is for subscribers only.
Despite its astronomical price, the Kelly bag by Hermès has found a buyer. In December 2025, at the height of the Christmas rush, LuxSpace sold a gold leather model of the bag for €27,980. It was a secondhand item. Located in Paris's 8th arrondissement at 90 Rue du Faubourg Saint-Honoré, the boutique specializes in pre-owned luxury goods. Its founders, Zhao Xiujun and her husband, Wang Goan, chose the address for its proximity to the historic Hermès store, which draws crowds year-round at number 24.
LuxSpace offers more than 600 models, including the most expensive from Hermès, Louis Vuitton, Dior and Chanel. Most of the pieces cost several thousand euros. "If it's in good condition, the Chanel 2.55 can be worth €7,000 to €8,000," explained Qian Siu, who oversees consignments. That's 30% less than the retail price.
The highly select consignment shop caters to buyers who are purchasing luxury goods for the first time, "tourists passing through who want a souvenir of their stay in Paris," or "connoisseurs" seeking rare items, said Siu. The business is doing so well that the founders are considering opening a second boutique, also on Rue du Faubourg Saint-Honoré. Sales of secondhand luxury bags are soaring.
You have 77.08% of this article left to read. The rest is for subscribers only.