A Louis Vuitton Neverfull and a Gucci Marmont were both selling for R25,000 on South Africa’s resale market a year ago. Today, one is worth R28,000 and the other R22,000. That 24% gap in their fortunes captures a bigger shift in luxury: brand popularity does not always translate into lasting value.
As luxury spending begins to recover globally, the market is splitting between brands that continue to command demand and those losing momentum. We see this clearly in South Africa’s pre-owned market, where resale prices offer a useful measure of what consumers are actually willing to pay.
Our ninth State of the Luxury Market in Africa report, which analyses search interest, purchases and resale prices on Luxity between July 2025 and June 2026, highlights some telling differences.
Hermès is in a league of its own
Hermès recorded an overall resale-to-retail ratio of 119.2% in our analysis, meaning its products resold for more than their original retail price on average. For handbags specifically, that figure climbs to 162.5%, compared with 70% for Louis Vuitton and 67.2% for Christian Dior.
But this needs context. Highly sought-after Birkin and Kelly bags can sell for two or three times their retail price, while other Hermès products perform very differently. Scarcity, model and condition all influence resale value.
Popularity doesn't guarantee value
Louis Vuitton remains the most searched luxury brand on our platform, accounting for 14.07% of brand search interest. It also ranks among the top three brands for resale-to-retail value across five categories.
Gucci tells a different story. The brand's comparable global revenue fell by 6%, while the Louis Vuitton Neverfull MM and Gucci Marmont handbags show how consumer sentiment can shift in the resale market. Both recorded median paid prices of R25,000 in the previous reporting period. A year later, the Neverfull had increased by 12% to R28,000, while the Marmont had dropped by 12% to R22,000.
Rolex also demonstrates why popularity and resale strength need to be considered separately. It continues to outperform many leading fashion brands in resale value, while Van Cleef & Arpels, IWC and Goyard achieve comparatively strong resale-to-retail ratios despite attracting less search interest.
New names are gaining attention
The market is not only about established luxury houses. Loewe recorded a 139% increase in its share of brand searches on our platform, while South African jeweller Browns grew its share by 77%. Miu Miu also gained ground, with its search share increasing by 14% and its resale-to-retail ratio rising from 42.6% to 48.5%.
These shifts suggest South African consumers are exploring a wider range of luxury brands and global trends, with resale providing a more accessible route into the market.
Most buyers aren't spending a fortune
Despite the attention given to rare handbags and high-value watches, 57.7% of purchases on our platform were below R10,000. The median amount spent remained R8,000, while wallets and jewellery gained share, with median prices of R7,000 and R9,000 respectively.
This is an important part of the resale story. For many consumers, pre-owned luxury is not about acquiring an investment piece. It is about accessing a designer brand at a more attainable price.
What the resale market tells us
The luxury recovery is not benefiting every brand equally. Search interest shows us what consumers are curious about, but purchases and resale prices reveal where demand is translating into value.
The challenge for emerging brands will be turning growing attention into sustained demand. The next report will show which names have managed to do that – and which have struggled to hold their place.
