When shopping the resale market, shoppers seem to be keying in to luxury jewels. Fine jewelry saw the most growth of any category at the RealReal this year, according to the site’s 2024 Resale Report, released on Wednesday. Overall, both demand and average order value rose 7 percent, with customers particularly seeking out high-value pieces from luxury brands.
Most of the growth came via big-name brands like Tiffany & Co., Cartier , and Van Cleef & Arpels. For jewelry priced at $5,000 at more, for example, sales have risen 22 percent and customers have jumped up 17 percent.
Year-over-year, sales of Cartier are up 11 percent, Van Cleef is up 49 percent, and Tiffany is up a whopping 55 percent. As for the sorts of pieces RealReal customers are interested in? When measured in “Obsessions” (or how users keep track of their favorite items), Tiffany’s bone cuffs are up an impressive 118 percent, while sales of the brand’s signet rings have jumped 70 percent. For Van Cleef, sales of brooches have increased a bonkers 223 percent.
And Cartier’s collar necklaces are in high demand, with sales up a healthy 146 percent. When it comes to gemstones, RealReal shoppers seem to like some color: Searches for emeralds have risen 20 percent, while turquoise pieces are selling at almost 80 percent of their typical retail value. Of course, diamonds haven’t lost any of their luster, either, but consumers seem to be seeking them out more casually.
Searches for tennis necklaces have jumped 18 percent, and those for lab-grown diamonds have increased 54 percent. In total, the resale market seems to be doing quite well over at the RealReal. For the second consecutive year, average order values and average sale prices have both increased across all generations, sometimes up to 14 percent.
The most searched-for brands of the year, meanwhile, are your usual suspects: The top five comprise Louis Vuitton, Chanel, Prada, Gucci, and Loewe. Last year, the resale market brought in an eye-popping $50 billion worldwide, thanks in part to the success of companies like the RealReal, which has made secondhand luxury shopping even easier. Given the site’s latest report, it seems like we may be on track for even better year in 2024, if the trends called out continue to hold.
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