In an attempt to tap into a growing market built on second-hand luxury items, a Vancouver boutique is selling a rare and highly collectible skateboard with a whopping five-figure price tag.
Courtney Watkins is the owner of Mine & Yours -- a luxury consignment and eCommerce boutique -- says the way consumers value and purchase luxury goods is rapidly changing. As Gen Z and Millennial audiences turn to TikTok and social media for financial advice, purchasing high-end designer brands and luxury streetwear is the latest trend where investors have found success in secondhand items.
“Your wardrobe doesn't have to depreciate your wallet. People are now strategically utilizing clothing as collectible, valuable, tradable assets,” Watkins said.
Reselling for over $100,000 USD
Watkins recently acquired one of those highly sought-after investment pieces: A Louis Vuitton X Supreme Boite Skateboard Trunk. Watkins said she has seen the board sell for $59,000 when it was first released and is reselling now for over $100,000 USD.
The board and its case were created by the French luxury brand and the cult New York skate label and was first unveiled in 2017 at the Louis Vuitton AW17 Fall/ Winter Menswear fashion show in Paris. The hype and speculation around the collaboration was the biggest piece of fashion news in 2017 Watkins said.
Given the popularity of the brands involved, the piece has become more collectible than ever anticipated. The rarity and pop culture significance, Watkins explained, is perhaps what’s causing them to steadily increase in value.
Where other resale websites have valued the board at $100,000 USD, Mine & Yours will be selling the skateboard for $95,000 CAD.
'Explosive growth in the luxury resale industry'
The skateboard has also been purchased and become popular among other influencers and celebrities including YouTube personality Jeffrey Star.
As luxury clothing labels begin to draw groups of young, tech-savvy, investors, Watkins said she believes the perception around how consumers view clothing will rapidly evolve.
“The way the current market is projected- we’re about to see explosive growth in the luxury resale industry,” Watkins said.
If anyone is interested in purchasing the skateboard from Mine & Yours, you can contact Watkins directly at [email protected].
