- Adding another tech tool for its customers, luxury resale platform Rebag is launching Rebag Auction, a feature that allows users to bid on high-end items, according to a press release shared with Retail Dive. Shoppers will be able to bid on items ranging from Hermés and Louis Vuitton bags to jewelry and watches.
- Rebag won’t charge a buyer’s fee and will allow winning bidders to pay within 48 hours. Rebag Auction also has an auto-bidding feature that allows the platform to bid on a shopper's behalf. The auctions will showcase more than 2,000 items weekly.
- The company will host weekly VIP Auctions exclusively for Rebag Rewards members from Mondays at 8 a.m. EDT through Tuesdays at 5 p.m. All users will then be able to bid on remaining items until Thursdays at 11:00 a.m. After the two auctions, unsold auction items will be available for immediate purchase on Rebag’s website or in stores.
With Rebag Auction, the company said it aims to build client engagement and loyalty among shoppers who desire — and are willing to compete for — unique items from more than 50 high-end brands.
“We are thrilled to be launching Auction to redefine what is considered a collectible in the luxury resale space,” Charles Gorra, founder and CEO of Rebag, said in a statement. “Given the scale of our platform, we are now able to launch Rebag Auction to optimize liquidity for our customers, while giving them access to highly coveted pieces in the most exciting way.”
Rebag spent last year integrating its technology in its stores and raising capital to support its expansion. The company debuted Clair AI, an image recognition tool that quickly identifies and prices luxury handbags, in February 2021. Last August, the company opened a 2,100-square-foot store in Connecticut featuring Clair Corner, a self-service kiosk that uses the Clair Concierge tool to assess the value of used items. In December, it raised $33 million in Series E funding, which it plans to use for its tech-enabled brick-and-mortar stores and to develop its technology tools.
Continuing to integrate tech into its business, Rebag recently teamed up with Moda Operandi, a fashion curation platform, to showcase more than 115 styles in a digital trunk show. The show featured items from brands like Louis Vuitton, Christian Dior and Chanel.