PARIS – U.S. tariffs of 15 percent on imports from the European Union are bad news for beleaguered luxury brands already struggling with softening demand. But they’re proving a goldmine for the secondhand market, which is booming as shoppers seek out more affordable alternatives.

They are increasingly migrating to resale platforms, not only for the savings but also for greater access, authenticity and sustainability. With price increases compounding across categories — often driven by brands like Hermès, Louis Vuitton and Chanel, which often raise prices — pre-owned luxury now represents a more accessible path to luxury brands.

“The sector is relatively healthy,” said UBS analyst Jay Sole, who follows The RealReal. “It’s not a question of demand, it’s a question of supply. If there are legitimate, authenticated luxury goods available, consumers will buy.”

The new tariffs are adding to the inflationary pressures and post-pandemic buoyancy that have already driven retail prices sky-high. But for resale platforms, the result has been a growing pricing gap between full-price and pre-owned items — a difference that benefits platforms that maintain stable average selling prices.

“Despite the new 15 percent tariffs, average selling prices on the resale market have remained stable — including handbags — making secondhand an even more affordable alternative as firsthand prices continue to climb,” said Maximilian Bittner, chief executive officer of Vestiaire Collective.

Recommerce platform Fashionphile is also seeing that shift play out.

Demand ticked up even before the tariff rate was finalized. “We’ve seen some early activity — people buying before price hikes, and increased listings by owners anticipating higher retail replacement costs,” said Fashionphile founder and president Sarah Davis. “Shoppers are very responsive around those changes. They are buying or selling according to the market and pricing announcements.”

Brand price hikes, including Hermès and Louis Vuitton’s earlier this year, also created a pre-emptive panic among buyers. “This always brings out ‘buy-before-it-gets-more-expensive’ behavior,” she added, while sellers have had a more wait-and-see approach in hopes that offers will increase.

While some price-sensitive consumers are pulling back from new retail purchases, they aren’t necessarily leaving the luxury market. “There are some buyers who have said they shop from us because they’ve been pushed to their limits,” said Davis. “We know that many of those same consumers are migrating to pre-owned rather than exiting the category entirely.”

As tariffs tighten pressure on retail pricing, resale platforms are well-positioned to capture the shift.

Even with economic uncertainty and seasonal slowdowns, resale platforms say consumer interest has remained stable.

“Demand has remained steady month-over-month, highlighting the resilience and attractiveness of the secondhand market,” Bittner said, noting that order volumes from June to August did not see the typical seasonal dip.

In the current climate, the pressure is pushing sellers to list more and buyers to act faster — particularly as new prices continue to climb.

The most sought-after brands on the resale market remain consistent across platforms. Chanel, Hermès, Louis Vuitton, Dior and Gucci top both demand and gross merchandise value.

According to Davis, even amid macroeconomic caution and viral criticism of pricing — particularly following an investigation by Italian prosecutors which alleged Dior paid a supplier 53 euros to assemble a handbag that would sold for upward of 2,600 euros in its boutiques, which amplified on TikTok earlier this year — resale prices have held strong.

“Pricing for Dior has not taken a hit, even on the book tote,” she said.

At the same time, more under-the-radar but in-the-know like U.S. luxury brands like The Row and Khaite are gaining traction. They’re some of Fashionphile’s hottest selling styles.

Recent high-profile creative director shifts at major houses such as Demna to Gucci, Pierpaolo Piccioli to Balenciaga and Matthieu Blazy to Chanel have yet to significantly impact resale demand. Davis noted that designers have not yet launched collections under their new roles, limiting opportunities for renewed consumer interest or, conversely, nostalgia.

“Designer ‘chess moves’ have not yet generated a measurable impact on resale demand or brand awareness,” said Bittner.

However, history suggests that once new collections debut on the runway, resale interest often spikes.

“A designer really can make all the difference and we’ve seen new designers pump up the resale value of even discontinued, older styles. When Daniel Lee breathed new life into Bottega [Veneta], it not only helped with current resale brands but prices for older bags benefited,” said Davis.

For example, following Céline’s reintroduction of the Phantom bag in July, searches for the style increased tenfold compared to the previous month, Bittner noted.

Vintage in particular has emerged as a breakout category, representing legacy and original-era items more than 20 years old.

Bittner said that vintage listings have grown 220 percent in the past five years, while searches for vintage items have increased fivefold. With some vintage handbags from big brands can be priced as low as $100, they hold significant appeal for aspirational buyers facing sticker shock over new goods.

On Sept. 4, Vestiaire launched its “Vintage Pieces at Vintage Prices” campaign, offering heritage handbags at their original price points — a move designed to attract those value-driven aspirational buyers.

“Vintage icons carry the same timeless appeal as modern re-editions, at up to 70 percent less,” Bittner said. “That makes resale not only desirable, but strategic.”

Still, price sensitivity remains a key theme. “There are some buyers who have said that they shop from us because they’ve been pushed to their limits. Economically sensitive consumers pull back on big discretionary new buys,” Davis added. “We know that many of those same consumers are migrating to pre-owned rather than exiting the category entirely.”

According to Sole, the UBS analyst, resale’s ongoing challenge is not moving inventory — it’s acquiring it. “Demand is there. It’s about supply,” he said. By some estimates, there is $200 billion worth of potential inventory in U.S. closets, and it’s a matter of making them available to the eager resale buyer.

The current economic environment, he suggested, could help change that. “If consumers who own luxury goods, who have a bunch of handbags sitting in their closet, feel like they want to turn that inventory into cash, that would be really compelling. That would be a catalyst for growth,” he said.