Keeping it real: Appraisers sift China second-hand luxury market for fakes | Malay Mail

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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Keeping it real: Appraisers sift China's second-hand luxury market for fakesThe country's counterfeit market value reached 17.3 billion yuan in 2020, almost double the previous year. FMTNews China Market Fake Counterfeit people manufacture and use counterfeit products
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