Second-hand buying set to rise
09 December 2022 A new survey suggests second-hand shopping and buying pre-loved gifts could be on the increase
Designer goods, such as handbags, can be found in many auctions and can be bought for much less than the equivalent new item in high street stores.
With the recent COP27 climate summit keeping sustainability top of many people's minds, the environmental benefits of not buying new are gradually seeping into consumers' consciousness.
Almost three-fifths of people (58%) now know that buying second-hand furniture is greener than buying new, up from 53% three years ago, according to a recent survey of UK consumers by Auction Technology Group (parent company of thesaleroom.com).
The survey found that 44% of people are more likely to buy second-hand now than they were three years ago, with a further 43% saying they are just as likely. Respondents said that the top two reasons for buying second-hand are saving money and awareness of it being more environmentally-friendly.
The impact of sustainable buying as a reason to purchase used items was found to be more important to women and young people.
The survey found that 18-25s are the most likely to buy used clothes, jewellery and watches and 25-44-year-olds are more likely to buy collectables and furniture second hand than any other age group.
Buying a vintage watch at auction can be a great way to source a special timepiece.
Furnish for less
The current cost of living crisis may also encourage some shoppers to look even more actively at the wide range of second-hand good available at auction.
There is certainly potential to save a lot of money here. A report published last month by Wrap (the Waste and Resources Action Programme, a climate action charity) found that if all home furniture in the UK that is suitable for reuse were resold rather than discarded then UK households buying these items – instead of new furniture – would collectively save £2.37bn a year.
For clothing the saving would be even higher at £4.51bn a year.
The antique furniture buying guide
Auctions can be a great place to pick high-quality second-hand furniture at good prices.
Greater gifting
At this time of year shoppers are also increasingly considering second-hand items as presents – encouraging news for auction houses holding Christmas-themed sales and for antiques markets taking place in the coming weeks.
A recent monthly snapshot of spending by Barclaycard found that 50% of consumers were planning measures such as buying second-hand as a way of keeping their seasonal spending under control.
"Consumers are adopting a restrained approach to festivities, looking for preloved gifts and setting spending limits to manage their costs," said Esme Harwood, a director at Barclaycard.
All I want for Christmas...are all of these! Unique watch and jewellery gifts we’d love to unwrap
