The real picture: the RealBook app← Back
About 3 Years, 10 Months, 3 Weeks, 1 Day, 11 Hours, 4 Minutes ago.
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The luxury bargain hunters out there will be excited to hear about The RealReal’s new app, called RealBook which gives estimates of a product’s value.
The RealReal, a resale website for luxury products, was set up in 2011 and now has 3 million members. Designer items, which have been authenticated by experts working for the group, can be bought for up to 90% off the original retail price. The site offers a large variety of products, from clothing, accessories, fine jewellery, watches and most recently, art.
RealBook allows users to work out the resale value of a product. The new app was developed using data gathered through The RealReal website, which has already sold 500,000 items by as many as 500 designer brands since its creation. Running a search by brand name and product type will give users an estimated price range for an item. The app thereby allows buyers and sellers to gage how well an item will resell in the future. The app was developed in order to allow customers to make smart purchases.
The RealReal has also been able to determine trends in luxury consignment. According to its finds Chanel, Cartier and Christian Louboutin, for example, can be counted amongst the names that hold their value for longest.
RealBook is available for mobile and iPad.