Editor’s Note
This article examines how platforms like 1stDibs are evolving to meet changing luxury consumer demands, expanding from fashion into art and design. It previews an analysis of what high-end customers will expect by 2025.
For nearly 25 years, 1stDibs has been an essential platform for online luxury sales. Interestingly, over time, the platform has significantly diversified its business. It no longer just opens the doors to a luxury wardrobe with clothing, accessories, and jewelry from the greatest houses. It now also offers works of art and designer furniture pieces for sale.
This trend alone summarizes the expectations of the luxury clientele. But to document these expectations more precisely, the marketplace decided to analyze its 2024 sales. The result? Art and design works now dominate the top spots on the podium.
In 2024, the highest sales recorded by 1stDibs were: a 1950s brass collector’s chandelier, 4 paintings by Chagall from 1948. And in third place, a diamond ring closes the podium.
As we can see, luxury fashion thus finds itself bringing up the rear. However, it is not completely absent from the ranking. Because it is indeed a Hermès Birkin bag that holds 5th place.
In detail, high jewelry and luxury watches assert themselves as highly desirable items. The marketplace also highlights a certain dynamism for fashion pieces. But contemporary creation interests buyers relatively little.
Thus, we note that luxury clients are primarily seeking collector’s pieces. And we see clearly how rarity has now become a safe-haven value in the luxury universe. Indeed, among the 5 leather goods items that represented the most significant sales, 4 are Birkin bags. Limited editions that highlight the unique know-how of the Hermès house. And the fifth is a Chanel minaudière created for the Métiers d’Art Paris-Shanghai collection. A unique piece, therefore.
So, does this strong desirability of art represent a risk for luxury houses? Or is the artification of luxury rather an opportunity?
The most sought-after fashion brands on the platform in 2024 were: Hermès, Chanel, Christian Dior, Gucci, and Yves Saint Laurent. All heritage brands recognized for their craftsmanship. In detail, the 5 clothing items that represented the most significant sales were all collector’s pieces.
Conclusion? The desirability of luxury brands is still very much present. But it has shifted to archival pieces. Evidently, the luxury clientele perceives greater value in these items that embody values of craftsmanship and authenticity.
Furthermore, luxury clients are now adopting the same collector behavior in their fashion purchases as in their art purchases. And this is an important paradigm shift.
A lesson to remember for 2025.