Millionaire’s Yard Sale

— Wed, 13th May 2009 —

The New York Observer‘s latest look at the booming resale market features one of our favorite U.E.S. shops, Gentleman’s Resale.

“The old-guard Upper East Side consignment shops are like a booming neighborhood luxury yard sale, with neighbors discreetly downsizing the wardrobes they accumulated in flusher times,” reads the story.

“As mainstream retail continues to flounder, with markdowns being the only way to move excess merchandise and increasing numbers of shoppers buying online — which now affords both privacy and blockbuster deals — the best consignment stores, swimming as they are in the riches of our vanquished era of consumerism, find themselves in an enviable position.

Also of note: “Most resale shops are adjusting already bargain prices downward to compete with department store markdowns.”

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