You can sell an old fur coat to a dealer who purchases used coats, take it to a consignment shop, go online to find a buyer or take out an ad in the newspaper. The best way to sell an old fur coat is to provide as much information as possible to the buyer. The method you use will depend on your objective. If you want to sell quickly you will choose a different method than if you want a higher price.
Appraisal vs. Resale Value
The appraisal value of a fur coat represents the value of the coat if you had to replace it. This price does not represent a selling price. Like cars, fur coats depreciate. They can depreciate as much as 18 per cent to 25 per cent for each year of ownership, according to webuyusedfurs.com.
Factors That Determine Retail Value
The current market value of your fur coat is related to the depreciated amount, as well as the condition of the coat and the type of fur. For example, furs such as sable are worth more than light-coloured mink. The coat must be priced at current market value in order to sell. Other factors that determine market value include whether the coat is made with a full pelt, paws or tails. The fur will be checked for matting, cuffs and clasps and whether the pelt has deteriorated.
Fur Coat Buyers
Fur retailers will accept your old coat as a trade-in for a new coat but will not purchase your coat, according to furs.com. Some retailers will take old fur coats on consignment. In the United States, three stores specialise in selling and buying used coats: Henry Cowit Inc., Ritz Furs and Chicago Fur Outlet. Most buyers of fur coats require seeing the coat before offering a price.
Information the Buyer Wants
To sell an old fur coat, furs.com recommends that the seller be prepared to provide information about the type of fur. Dark mink coats are easier to sell. It is important to be able to give the general age of the coat, but the condition of the coat is critical. You should be able to assure the buyer that the coat has received professional care to maintain its condition. You must provide the size of the coat. It is easier to sell a larger size than a smaller size, according to furs.com. Finally, the style of the coat is a factor. A traditionally styled coat is easier to sell.
Ways to Sell an Old Coat
You can often get a higher price for your fur coat if you sell it on consignment and wait for a consumer to purchase it, according to furs.com. But if you need the money quickly, the consignment method is not the best way to sell the coat. The time it takes to sell the coat can take a month or longer. You can sell your coat privately through newspaper ads, Internet auction sites or eFurs' Used Fur Exchange. A seller can often get more money by selling privately, according to furs.com.
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