Vehement Finance News Network

Research by Designer Bag Authenticator Bagaholic Reveals Over Half of Secondhand Bags are Fake

Netherlands, 24th Aug 2023, King NewsWireBagaholic, a leading designer bag authentication company serving over 87 countries, has unveiled a startling truth about the second-hand luxury bag market–52% of secondhand designer bags purchased online are counterfeit. The research was based on data from over 10,000 Bagaholic customers spanning 5 years.

In response to these findings, Bagaholic has taken a bold step to empower consumers against falling victim to scams by introducing the free educational mini-course titled “How to Safely Purchase Your First Second-Hand Designer Bag.”

The company’s statistics also revealed that approximately 10% of buyers face scams in the second-hand designer bag market. With luxury designer bags going for $1,000 on average, that is a potential cumulative loss of around $1,000,000, just among Bagaholic customers.

The research supports the idea that buying a designer item safely requires skill. Though second-hand buyers can save up to 80% of the original price of premium designer brands, they also may fall victim to potential pitfalls.

“We at Bagaholic hear stories of people spending an entire month’s salary on what they thought was an authentic collectible designer piece, only to discover it’s a worthless fake,” said CEO Ana Denis. “This is what compelled us to launch our designer bag scams awareness campaign.”

According to Bagaholic’s research, the top three reasons why designer bag enthusiasts might lose money when buying secondhand include:

Believing Compelling Stories (39%): Dishonest sellers often concoct elaborate tales to lend credibility to their counterfeit goods. Shoppers are urged to prioritize facts over claims when making a purchase.

Authentic-Looking Receipts and Packaging (35%): A common misconception is that an accompanying receipt guarantees authenticity. However, counterfeiters have become adept at forging even official documents. Discerning buyers should not rely solely on receipts as a sign of legitimacy.

Advanced Scams (17%): Sophisticated scammers anticipate that buyers will authenticate items before purchase. To subvert this process, they manipulate images, swapping counterfeit item images for authentic ones. This deceit can lead to buyers unwittingly acquiring fakes.

“The quality of replicas has reached a new level, making it very challenging for new and experienced buyers to purchase an authentic item without issues,” added Denis.

The free mini-course, “How to Safely Purchase Your First Second-Hand Designer Bag,” underscores Bagaholic’s commitment to providing reliable and trustworthy authentication services globally. To register for the course, or to learn more about Bagaholic services for the authentication of secondhand luxury items from brands like Louis Vuitton, Dior, and Gucci, visit lvbagaholic.com.

About Bagaholic B.V.
Bagaholic B.V. is a renowned designer bag authentication company with a mission to protect consumers from falling victim to counterfeit scams. With a team of expert authenticators and years of industry experience, Bagaholic offers unparalleled insights and guidance to those seeking to invest in designer handbags or verify designer items.

Media Contact

Organization: Bagaholic B.V.

Contact Person: Ana Denis

Website: https://lvbagaholic.com/

Email: bag@lvbagaholic.com

Country: Netherlands

Release Id: 2408235782

The post Research by Designer Bag Authenticator Bagaholic Reveals Over Half of Secondhand Bags are Fake appeared first on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No STOCK INVESTS journalist was involved in the writing and production of this article.