The fashion collector: A buyer like any other?

Retail|Opinion

Sarah Jessica Parker in the series And Just Like That... Credit: Photograph by Craig Blankenhorn/HBO Max

With the rise of the secondhand market (six billion euro turnover in France in the ready-to-wear segment alone), a marked taste for the antique, the rare, and the unique has developed. In other words, vintage fashion has captured a wide audience that seems more drawn to the allure of collecting than to the dictates of trends.

A growing number of collectors in France

France has over 32 million collectors (47 percent of the population), according to a report by the auction platform Catawiki and Hypebeast. This number is expected to continue growing as interest in this practice attracts more and more followers, with 10 percent of those surveyed stating they want to start their own collections.

Currently, these collectors are not just passionate about stamps or coins, but also fashion lovers or investors who allocate their money to luxury handbags whose value continues to rise (for example, Hermès or Chanel).

Furthermore, in the auction world, figures for the fashion segment are constantly increasing. According to the CMV (Conseil des Maisons de Ventes/Auction Houses Council), in 2023, the Fashion and Accessories category grew by 55 percent in the auction market, reaching 32 million euros. This data coincides with the study conducted by Catawiki and Hypebeast, which indicates that the most popular categories among collectors include jewellery (30 percent), fashion (24 percent), and watches (23 percent), especially among Generation Z.

This shift is linked to the democratisation of buying secondhand items, a practice that 73 percent of French people believe will become the norm (Catawiki and Hypebeast study). But it's not the only factor.

"We have experienced a digital revolution in our profession, just like many others," stated Chloë Collin, auctioneer, in the podcast Les Gens de la Mode. "Today, you can bid online (...), meaning you can bid while the auctioneer is being filmed. [You can offer] a price live, in real-time, but also online, like on Ebay, where it's possible to bid on items available in a catalogue for 10 days, with only a spatio-temporal limit."

In this context, the recent creation of Penelope's makes perfect sense. This young auction house, launched in September 2024, specialises in fashion.

A new auction house dedicated to fashion

After 18 years working as a fashion expert for various auction houses, including Artcurial, Pénélope Blanckaert decided to go her own way. Her idea: to adapt the tools of auction houses to the fashion sector, a field that requires specific knowledge and methods.

Penelope's website has the appeal of an online fashion boutique, with a dynamic interface and an editorial approach. The pieces up for auction are usually vintage and, for the most part, don't reach exorbitant prices. The items are accessible, which explains why participants bidding on Penelope's are often also users of secondhand platforms like Vestiaire Collective or The RealReal, i.e., a broad audience.

Today, buyers of fashion or jewellery at auctions are not necessarily collectors in the traditional sense. They may not keep the pieces indefinitely, as this involves challenges: knowing textile preservation methods, having space, etc. Their motivations are different: to enjoy the piece by wearing it themselves or reselling it for a profit. However, this acquisition method is similar to that of collectors, which is not a minor detail. On one hand, it reflects a trend that radically opposes ultra-fast-fashion, promoting longevity and personalisation. On the other hand, it represents a democratic form of purchase, accessible to all budgets.

This article was originally published on FashionUnited.FR, and subsequently translated from French to English using an artificial intelligence tool, before being edited by Rachel Douglass..

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