RealReal Trades in Last Year's Fashions for Cash
SAN DIEGO (TheStreet) -- Look at your closet. Do you have any of last season's Chanel, Prada or Gucci collecting dust?
Now look again, but this time picture dollar signs.
TheRealReal.com, a consignment website for luxury goods, will happily take those designer dresses, shoes or handbags off your hands, resell them and turn your pricey but oh-so-outdated fashions into cold, hard cash."All of a sudden the things you have in your closet, you have liquidity for. People sometimes get thousands of dollars," says Julie Wainwright, CEO and founder of TheRealReal, a site she calls the premier destination for luxury resale. Created about three years ago, TheRealReal is designed to give eBay a run for its money in luxury goods resale by offering something eBay doesn't: authentication of the luxury items sold on the site. The RealReal has a full-time staff of authenticators, horologists, licensed gemologists and art curators who inspect and authenticate every high-value item sold on the site, Wainwright says. But that's not the only difference she sees. "We will pick up stuff in 16 cities. We try to make it really easy," Wainwright says. "If you want to send your items in direct, we will send a prepaid shipping label, and then we do all the work." Also see: 4 Lifestyle Apps for the Rich and Famous
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