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07/19/2021

Rebag Launches Instant Trade-In for Luxury Resale

Rebag CEO Charles Gorra says the retailer is essentially pioneering “negative checkout.” Learn what that means.
Jamie Grill-Goodman
Senior Editor
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Rebag has launched a new service that allows consumers to buy and sell luxury items in a single, combined transaction.

Clair Trade, an extension of the company's AI-powered instant pricing engine Clair, empowers consumers to sell and shop seamlessly. The service is available for online purchases and in Rebag stores nationwide. Consumers who choose to shop in-person at a Rebag location are able to complete the entire process immediately. Consumers who use the online service will checkout for the combined trade. The seller will then ship items to Rebag using a free shipping label or drop the items at a Rebag store location. Once the items have been reviewed, the trade-in will be confirmed or possibly edited, and the purchased items shipped at that time.

Clair Trade will offer luxury consumers the ability to pay only the difference: Instead of experiencing two siloed buying or selling flows, shoppers can now instantly receive an offer for their luxury items, put the value towards a new purchase, then checkout and only pay the difference that their sold items do not cover – all in one transaction. The proceeds from the sale are instantly netted from the cart value, therefore reducing the money out of consumer's pocket.

Clair Trade is the latest addition to the Clair by Rebag Technology Suite and is designed to bring transparency and simplicity to the resale process. Clair AI, a powerful, proprietary software tool backed by seven years of data and millions of image references instantly determines the resale value of more than 15,000 styles.

"Clair Trade brings together our seven years of expertise as a leading luxury resale destination," says Charles Gorra, Founder and CEO of Rebag. "It combines the immediacy of our pricing technology and our AI-recognition capabilities to create a unique and transformative resale experience. For the first time in the resale industry, consumers will be able to generate a quote and immediately use it towards another purchase, while only paying the difference. The more you sell, the more you decrease the cart value and can shop guilt-free. With Clair Trade, Rebag is essentially pioneering negative checkout."

For a limited time only, Rebag will offer a 25% trade-in incentive, allowing consumers to earn 25% more when they opt for trade-in compared to a standalone cash payout. Sellers can therefore maximize proceeds by trading in. For more information visit Rebag.com/trade.