What Recession? NYC Bargain-Hunters Find Cut-Rate Gucci Bags

As she checked out a shelf of colorful Hermes Birkin bags at New York’s Fisch for the Hip, real-estate broker Seena Stromberg explained the allure of consignment shopping in a recession.

“It’s better than putting money in the stock market right now and it’s better than investing with Madoff,” said Stromberg, 63, who works for Citi Habitats.

Investors who lost millions in Bernard Madoff’s alleged Ponzi scheme may join the list of shoppers searching for bargains at high-end consignment shops, which sell previously owned designer clothes and other secondhand luxury items brought in by people who no longer need or want them.

If the goods are sold, usually for a fraction of the regular retail price, profits are split between the consignor and the store.

Here’s a look at some of New York’s best luxury bargain shops:

Fisch for the Hip

Chelsea’s Fisch for the Hip is logo heaven with an impressive array of Gucci, Louis Vuitton, Chanel and Hermes handbags, wallets and clutches.

A brand new Phillip Lim cocktail dress is on sale for $350, about half the retail price. There’s also a slew of trendy Herve Leger bandage dresses in various colors, with prices ranging from $300 to $500.

During the holiday season, Fisch is offering a 15 percent discount on fall merchandise if you purchase two items worth at least $100 each. It’s 20 percent off for three items or more costing at least $100 apiece.

Bloomberg