Computer vision is helping people resell their used designer handbags.
What’s new: Rebag, a resale company for luxury handbags, watches, and jewelry, launched Clair AI, an app that automatically appraises second-hand bags from brands like Gucci, Hermes, and Prada, Vogue reported.
How it works: Users take a close-up picture of a handbag against a neutral background. The app finds between one and five potential matches for designer, model, and style.
- Users choose the potential match that comes closest and adds details about the used bag’s condition and color. The system then calculates dollar figures for retail price and trade-in value.
- Users can also submit photos of bags in magazines, videos, or other fashionista’s hands to find out what other people are carrying.
- Rebag’s CEO said in a promotional video that the app achieved 90 percent accuracy rate and took six years and millions of data points to develop.
Behind the news: Rebag’s revenue grew by 50 percent in 2020, riding a surge in demand for second-hand luxury goods. The market for used high-end items like watches, jewelry, fine art, and yachts grew in 2019 by 12 percent to $26.5 billion.
Why it matters: Consumers are mindful of the resale value of high-ticket goods. An app that makes it easier to tap into that market could drive sales of both new and used items — and make it easy to unload the hideous thing that somehow looked fetching last summer.
We’re thinking: We tested this system on the bags in our closet, but it wasn’t impressed by our prized NeurIPS tote.