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1) Rebag created a tool to standardize the luxury bag appraisal process and provide transparency in the unregulated resale space.

WHAT HAPPENED: Rebag launched Clair, its luxury authentication platform, which stands for Comprehensive Luxury Appraisal Index for Resale—categorizes designer bags from a list of over 50 brands and 10,000 styles, evaluating the resale price based on the retail price and market fluctuations. The tool is available through an app or website and allows users to store information and be notified of price changes.

WHY IT MATTERS

  • Rebag’s system arms consumers with new information, which encourages them to view luxury bags as long-term investments. The Clair platform is a uniformed reference point for luxury bags’ market value, which democratizes this information on a global scale. This will both positively impact an individual’s choices but the luxury and resale industries as a whole. Shoppers can now recognize whether or not it’s a good time to buy or sell, which drives further liquidity in the market.

  • Up until now, authentication around designer bags has been inconsistent and unreliable. With each reseller having its own appraisal system in place, it’s been difficult for consumers to determine who to trust and what their products are worth. Luxury resale giant The RealReal has been under scrutiny for its appraisal practices after multiple complaints of the retailer selling counterfeit products. While Clair’s technology won’t prevent fakes, the platform does call attention to the valuation process and attempts to standardize the resale prices, ensuring sellers always receive the best possible price. In marketplaces, transparency drives liquidity.

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