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Dec
2013

Facts and figures of second hand luxury market in China

So when compared to the original price, how do second hand items compare? We took a sample in the market and in the table on the next page can be seen how much money can be saved on cars, watches and bags.

The price difference between a new item and those sold in second hand stores or car dealerships is typically 20 to 30%, and there are certainly some bargains when it comes to cars. The second hand car market is very new in China, and therefore benchmark values are not yet determined. It is also probable that some of the cars being sold were originally purchased by small business owners who now need to free up additional cash to plough back into their businesses, hence what are significant savings on vehicles with very low mileages. For these people, applying for and being awarded a bank loan may take too long or be too complicated, and quick money is required…
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