Sunday, 02 May 2021 11:53 AM MYT
China’s factories churn out huge quantities of luxury goods, much of which is destined for a domestic market worth about four trillion yuan , according to market researchers UIBE Luxury China. And while the fee is 15,800 yuan , Zhang says it is a price worth paying as it provides a foothold in a second-hand luxury market that is only just taking off.
“Two letters will light up, and that’s the secret,” said Zhang, who learned his own skill appraising luxury goods a decade ago in Japan. “I realised that second-hand luxury bags could be sold at a very good price,” said 31-year-old stock market trader Xu Zhihao. And seasonality is essential, with red — the colour of good luck — selling quickest over Chinese holidays.
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