Valuations & Price Guidance
We would like to share with you how we go about conducting Valuations for Luxury Goods at Lunique London. When you purchase a valuation / price benchmarking exercise from us, you can be assured of the following;
We benchmark on achieved prices,
NOT asking prices.
We aim to strike a balance between larger Corporate reselling platforms, smaller Independent reselling individuals or businesses, we look at Digital reselling platforms such as Ebay and Vestiaire, reputable Auction Houses such as Sotheby’s and Christie’s, and we also take into account what things are selling for on Social media groups, this includes Facebook, Instagram and so on, and so on.
As a long time resellers, we have access to a broader section of the market, than available to the general public. We have access to trending wholesale prices within the secondary luxury resale market and they are used accordingly.
As we are based in the UK, our valuation outcomes will be UK and Europe market centric, but will not exclude following and tracking the US / Asia / Australia trending prices as they are relevant to correct price benchmarking practices. We also consider fluctuations in currency exchange.
In a nutshell, if you select us for a price range for your specific item, we take into account;
Design
Size
Colour
Materials used
Hardware used
Accessories
Condition
Popularity
Age
Quantity on the resale market
The above 10 criteria are applied to our decision making process and after a careful and considered price benchmarking exercise you will be provided with a price range, which is a status quo, valid at this moment in time.
We are sharing this aspect, because prices in the secondary market are subject to fluctuate, ie go up and down as particular luxury fashion house decisions do dictate and influence consumers behaviours and these can often and quickly change.
What is worth mentioning also, is that when taking into account ‘achieved prices’ not always, but sometimes these 'achieved prices' also incorporate sellers commissions, which can be anything from 5% to 35% depending on which method of sale was applied.
The other topic is that we can only determine a price range for your item, if the valuation is purchased alongside the authentication, because one logically follows another.
We cannot be expected to trust another entity to authenticate on our behalf, that would not be considered best practice, nor follow correct due diligence on your behalf.
Hope this explains in detail, how our company approaches valuations, takes them seriously, conducts them in a professional manner to the best of our abilities, and through better mutual understanding,
we can continue to serve you better.