When it comes to luxury accessories, beauty is in the eye of the beholder — and the bag holder. Lately, many consumers are seeing the beauty in used luxury handbags that are getting a little worn around the edges.

See: The IRS Has Refunded $15.7B as of Feb. 3 — Here’s How Much the Average Taxpayer is Getting Back Learn: 3 Signs You’re Serious About Raising Your Credit Score

A new Luxury Consignment Report from online marketplace The RealReal found that demand for “well-loved” handbags — those in fair condition, which, if this coveted Chanel bag is any indicator, could still fetch $2,600 — has nearly doubled since January 2022. More than half of shoppers (58%) buying bags in fair condition are new to the TRR platform.

Meanwhile, consumers overall are trading down from ultra-luxe bags to trendier styles, according to the report. Prices for high-end brands such as Hermès, Chanel, Gucci and Louis Vuitton have stabilized over the past year and had actually declined by 5% by the end of 2022. This has opened up higher sales of brands like Prada, Miu Miu and Dior.

Sales of vintage archival pieces are up more than 50% since January 2022, while demand for Y2K pieces continues to push higher.

The move toward more affordable bags has been driven on a number of fronts, according to TheRealReal President and CEO Rati Sahi Levesque.

“A potential recession, the climate crisis, and global unrest are all reasons that, going into 2023, consumers are making shopping decisions based on value – with 66% saying they shop resale primarily to get a good deal – as well as personal values,” Levesque said in a press release. “We’re seeing our members do this in many different ways, from trading down ultra-luxe bags for more accessible options and buying fair condition items to express themselves through fashion and sustainable shopping practices.”

If you’re looking to sell a handbag, demand is especially high for items with imperfections such as worn corners, “significant” scratches and interior wear. TRR began accepting handbags in fair condition in early 2022. The average price for a fair condition piece is 33% less than those at higher condition levels, making these so-called “gateway bags” a good entry point for cost-conscious luxury consumers.

Take Our Poll: What Do You Plan To Use Your Tax Refund For? $2,000 Quarter? Check Your Pockets Before You Use This 2004 Coin

As TRR noted, a growing number of shoppers are also “specifically seeking the je ne sais quoi that comes with a little wear-and-tear.”

In terms of brands, you can probably find a ready customer base with Prada. Sales of Prada’s Crystal Re-Edition of its 2000 mini bag soared more than 1,300% since January 2022. In the clothing category, sales of women’s ready-to-wear by Simone Rocha climbed 635% over the same time period.

Millennial and Gen Z consumers are driving much of the sales, as both groups have gravitated toward used handbags for value and sustainability reasons.

10 Best New Items Coming to Dollar Tree in 2023

Make the Most of Your Bank and Your Money

Build Your Credit Score with These Simple Strategies

8 Steps To Improve Your Finances in One Year

This article originally appeared on GOBankingRates.com: Is Your Old Purse Worth $2,600? New Report Says You Should Check Your Closet

Amazon deals feature everything from powerful home appliances to fun Nintendo video games, all for budget-friendly prices.

Amazon Prime Day 2023 will return this year and if you want to get in on the savings ahead of time, we've got all the essential information you need.

During tough economic times, how people spend on beauty products can often indicate where the markets are going -- while logic would suggest that sales of lipsticks, perfumes and other "frivolous" products drop, purchases of such "small luxuries" actually tend to increase. Estee Lauder heir Leonard Lauder first coined the term "Lipstick Index" (sometimes also known as the "Lipstick Effect") to describe this phenomenon amid the recession that followed the dot-com bubble in the 1990s. While we're not yet in a recession, a survey of 1,011 Americans aged between 18 and 76 found that 48% plan to spend less on beauty products during the current year.

There are few things investors enjoy more than receiving a dividend payment each quarter. However, a popular ETF from JPMorgan, the JPMorgan Equity Premium Income ETF (NYSEARCA:JEPI), takes this approach and does it one better by paying investors a dividend on a monthly basis. Not only that, but JEPI’s dividend yield is a massive 11.8% on a trailing basis, which is more than seven times the average yield for the S&P 500 of 1.65% and nearly three times the yield that investors can get from 10-yea

The EV upstart, seen as a serious rival to Tesla, plans to raise additional capital to finance its operations. The stock falls.

Inflation remains high, and that was on the mind of Jerome Powell as the Federal Reserve chair gave testimony to the Senate Banking committee today. Powell made it clear that the central bank is likely to lift interest rates higher than previously anticipated. Currently, the Fed’s key funds rate is set in the range of 4.5% to 4.75%. “Although inflation has been moderating in recent months, the process of getting inflation back to 2% has a long way to go, and is likely to be bumpy… The latest eco

Rule changes living rent-free in your mind? Perhaps it's time for a more passive approach.

Thanks to rapidly rising interest rates, many reputable banks and credit unions are now offering certificates of deposit with impressive rates above 4%. Security Plus Federal Credit Union offers an 11-month, 6% APY CD with a minimum $1,000 deposit and maximum $50,000 deposit to Baltimore City residents. Meanwhile, Frontwave Credit Union offers 6% on an 18-month CD for residents of Riverside, San Bernardino and San Diego Counties, California who can pony up a minimum deposit of $1,000.

High fuel costs might have hurt the fourth-quarter 2022 bottom-line performance of ZIM Integrated Shipping (ZIM).

Shares of branding and marketing company Troika Media Group Inc. fell 51% after hours to 28 cents, following a 27% decline in the regular session after it reported financial results.

Fed chief Jerome Powell signaled rate hikes will go higher and faster than previously expected. The major indexes fell sharply.

“After too many years of paying for oversight, I finally woke up to the reality that it cannot be in the investor’s best interest as long as the manager is rewarded for assets under management.” Well, firstly the AUM model — which stands for assets under management and is often a flat 1% of one’s assets — isn’t without controversy.

White House Press Secretary Karine Jean-Pierre said the presidential administration is monitoring Silvergate Bank's situation, and said Congress must act.

For the average American, healthcare in retirement will cost more than they have in their entire savings account. And unfortunately, Medicare won't help. Healthcare, of course, is the single biggest line item that most retirees need to prepare for. Recently, … Continue reading → The post Healthcare Will Cost More Than Most Retirees Have: Here's Why Medicare Isn't the Answer appeared first on SmartAsset Blog.

Most Americans have less in their retirement accounts than they'd like, and much less than the rules say they should have. So, obviously, if that describes you then you're not alone. Now, most financial advisors recommend that you have between five … Continue reading → The post How Much Should I Have in My 401(k) at 50? appeared first on SmartAsset Blog.

The average brokerage recommendation (ABR) for NIO Inc. (NIO) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?

The company late on Friday said that effective immediately it made a "risk-based decision" to discontinue the Silvergate Exchange Network, which enabled round-the-clock transfers between investors and crypto exchanges, unlike traditional bank wires, which can often take days to settle. U.S. regulators have been sent to the headquarters of Silvergate as the company looks for a way to stay in business, the report said. One possible option involves lining up crypto-industry investors to help Silvergate shore up its liquidity, the report said.

CEO Sundar Pichai is cutting back on large pay rises, as investors demand management take more forceful action to reduce its bloated cost base.

CrowdStrike reported Q4 profit and sales that topped estimates while revenue guidance came in well above Wall Street targets.

GE's stock is too richly valued, warns the influential JPM coverage team.