Online reseller of pre-owned luxury handbags, Rebag (pictured), has created a tool to allow consumers to assess the value of their own handbags. This means consumers considering selling their bag to Rebag (which, in turn, posts the bag for sale on its website), can first determine the resale value of their Prada crossbody or Celine leather mini before deciding whether to part with it. 

The tool is called Clair — the Comprehensive Luxury Appraisal Index for Resale. Five years in the making, Clair’s proprietary software determines the value of any handbag across a list of more than 50 brands and 10,000 bags. It offers consumers an exact and fully automated price that Rebag is currently willing to pay to acquire that item.

"With more and more consumers contemplating the resale value of their luxury purchases, we've created a taxonomy that provides a more transparent way for consumers to shop more wisely," says Charles Gorra, founder and CEO of Rebag. "We've spent years gathering data and analysing the luxury handbag market. Clair is our way of sharing that knowledge with the world - and it's only the beginning."

The company says the tool can be used by anyone, not just Rebag customers, and expects Clair to allow consumers to make better decisions on their purchases, know the value of their purchase upfront and view handbags as a new investment category.