In a 1,100 square foot store on Tannery Lane, filled with furniture and objects from different eras, this is what Najwa Jumali (32 years old), founder of the second-hand home boutique Objects.re, has collected over the years.
Starting from operating an Instagram account during the pandemic to opening her first store last year, the growth of repeat and new customers has given her the confidence to transition from a side business to full-time operation, and she is recently considering renting another small warehouse.
On the other hand, Eddie Wu (31 years old), co-founder of the online second-hand art trading platform Art Again, focuses on the secondary resale market, specializing in artworks priced below SGD 100,000, allowing the public to purchase unique pieces at reasonable prices.
Also relying on the internet is Eye of the Cat Jewellery, which specializes in antique jewelry. Founder Jennifer Banse (45 years old) operates the website from home, gradually cultivating a loyal customer base with over 20 years of experience in the fashion industry and expertise in jewelry appraisal.
This shows that the local second-hand market is developing in diverse ways, and consumers' perceptions of second-hand goods are not limited to the definition of &#34;cheap goods.&#34;
<h3>&#34;Treasure Hunting&#34; Mentality Drives Shift in Consumption</h3>
A survey by the second-hand trading platform Carousell found that &#34;seeking unique or rare items&#34; has become the second-largest reason for Singaporeans to purchase second-hand goods, second only to &#34;saving money.&#34; Additionally, awareness of waste reduction and the circular economy continues to rise.
The latest data provided by Carousell to Lianhe Zaobao shows that items containing keywords such as &#34;vintage&#34; and &#34;antique&#34; have seen a significant increase in both posting and transaction volumes in recent years.
As of January, the posting volume of vintage furniture increased by 174% year-on-year, and transaction volume grew by 173%, far exceeding traditional strong categories such as women's clothing and toys; the transaction volume of antique watches reached a new high in January, nearly 60% higher than six months ago; and the transaction volume of antique artworks increased by 43%, returning to high levels in 2023.
<img src="https://imageproxy.pbkrs.com/https://dss0.zbstatic5.com/s3fs-public/articles/2026/04/03/260223Second-hand20goodsONLINE.jpg/query-MTAyNw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://dss0.zbstatic5.com/s3fs-public/articles/2026/04/03/260223Second-hand20goodsONLINE.jpg/query-MTAyNw"/>
Eddie Wu stated in an interview with Lianhe Zaobao that the emergence of a large number of low-priced, fast-moving consumer goods has prompted some consumers to turn to vintage and antique categories, refocusing on the value of items with historical significance before industrial mass production. &#34;The joy of treasure hunting and the historical sense behind the items make it feel more meaningful than purchasing mass-produced products.&#34;
Jennifer Banse also pointed out that the core buyers of antique jewelry are mostly professional women aged 25 to 55, who have a certain purchasing power and aesthetic maturity, placing greater importance on the history, craftsmanship, uniqueness, and emotional narrative behind the jewelry. &#34;They view jewelry as an expression of identity, historical accumulation, and personality, rather than merely decorative items.&#34;
<h3>Cultural Concept Changes and Revaluation of Old Goods</h3>
The change in intergenerational concepts is also an important factor driving market expansion. Liu Guangqian, an associate professor at the Business School of Singapore University of Social Sciences, noted that the older generation had psychological concerns about old goods being &#34;unlucky,&#34; but this notion has significantly weakened among the younger generation.
He stated in an interview: &#34;Current consumers are more focused on the authenticity, scarcity, and storytelling attributes of products. Second-hand and vintage goods are gradually being seen as choices that combine fashion personality and environmental friendliness.&#34;
He also pointed out that the re-circulation of certain high-value categories demonstrates asset attributes. &#34;For example, in the luxury goods sector, some items possess intrinsic value and limited characteristics. Buyers can obtain usage value at a lower price and still have the opportunity to maintain value or even resell at a premium of over 30% after a period.&#34;
Liu Guangqian believes that this consumption behavior has, to some extent, investment characteristics, attracting more consumers into the second-hand market. He also predicts that in the future, categories with higher premium space and clear brand attributes will have significant local growth potential.
<h3>Second-Hand Boutiques Rely on Aesthetics and Trust, Difficult to Scale</h3>
In the second-hand market, many founders operate boutiques solo, relying on aesthetic reputation, but scaling is limited.
Najwa, the founder of Objects.re, candidly stated in an interview that this business has a lot of uncertainties. Monthly costs range from 5,000 to 10,000 yuan, mainly for rent, procurement, and operations, so when selecting goods, one must balance aesthetics with turnover speed to avoid inventory accumulation.
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Najwa Jumali (32 years old), the founder of Objects.re, manages all aspects of the work alone, including product selection, communication with sellers, condition assessment and pricing, store display, customer reception, packaging and shipping, and social media operations. (Provided by the interviewee)
<h4>Further Reading</h4>
Singapore's Thrift Clothing Trend: Second-Hand Clothes Become a New Fashion Favorite for Young People

 Bishan Free Flea Market: Over 10,000 Second-Hand Items &#34;Shopped&#34; by More than 3,000 People


Banse pointed out that the antique jewelry field is fundamentally determined by taste, appreciation, and curatorial ability, and cannot be scaled through inventory quantity or data-driven methods.
&#34;Searching for meaningful collections highly relies on personal expertise and trustworthy connections.&#34; She believes that rapid expansion will dilute quality and trust. &#34;The growth of boutiques depends more on maintaining quality and reputation within a niche but loyal customer base,&#34; such as deepening customer relationships, optimizing sourcing networks, and gradually increasing the value of individual pieces.

For Jennifer Banse, the founder of Eye of the Cat Jewellery, her home’s small table is her studio. (Provided by the interviewee)
<h3>Not Selling Goods, Just Connecting: Nearly 10-Fold Growth in Two Years</h3>
Driven by the aforementioned consumer trends, light-asset platforms focused on facilitating transactions have also rapidly emerged. Art Again does not hold inventory and centers on facilitating transactions.
The platform generates income through a commission of 15% to 20% (lower than the 30% to 50% of galleries and auction houses), as well as framing, transportation, consulting services, and community events. The team consists of fewer than 10 people, with monthly expenses maintained in the low five figures, most of which are used for salaries and platform maintenance.
<img src="https://imageproxy.pbkrs.com/https://dss0.zbstatic5.com/s3fs-public/articles/2026/04/03/160825206020Objects20A20Still20Life20Drawing20Session20By20Art20Again2020Objects..jpg/query-MTAyNw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://dss0.zbstatic5.com/s3fs-public/articles/2026/04/03/160825206020Objects20A20Still20Life20Drawing20Session20By20Art20Again2020Objects..jpg/query-MTAyNw"/>
Art Again periodically holds offline community art events. Co-founder Wu Weiming said that these events are not the main source of income but are more for brand and community building purposes. (Provided by the interviewee)
Wu Weiming stated that artworks are not high-frequency trading items, but the platform has achieved a tenfold year-on-year growth in performance in its second year, reaching seven-figure sales, with about 80% coming from the Singapore market. &#34;This growth rate has indeed exceeded the team's initial expectations.&#34;
Most sellers are collectors aged 60 to 70, while buyers mainly consist of young families and first-time collectors. The overall transaction rate on the platform is about one-sixth, with one out of every six listed works being resold.
The platform has currently expanded into the Indonesian and Malaysian markets, with some buyers also coming from Hong Kong and as far as Europe and the United States. In the next three to five years, it plans to further lay out in surrounding and East Asian markets.
He pointed out that in the traditional art market, 98% of mid- to low-priced artworks are only resold once in their lifetime, with a large number of works &#34;sleeping&#34; in private collections. This liquidity dilemma is a common global issue, and promoting asset liquidity is the core value of the platform.
However, the core challenge of high-value second-hand goods still lies in trust and authentication mechanisms. Buyers lack the ability to independently authenticate and heavily rely on the seller's honest disclosure and the platform's review mechanism. Any false descriptions or misrepresentations will directly damage the platform and brand reputation.
<h3>The local second-hand resale market is expected to reach approximately $3.8 billion</h3>
Local consumers have a high level of participation and acceptance of item circulation. According to a recent survey by Shein of nearly 400 respondents in Singapore, over 70% of respondents have the habit of giving clothes to friends or donating them.
The activity level of Singapore's second-hand market has consistently remained leading in the region. According to Carousell data, the per capita second-hand sales revenue in Singapore is expected to be around SGD 2,000 in 2024, significantly higher than in Hong Kong (SGD 1,150), the Philippines (SGD 930), Malaysia (SGD 810), and Taiwan (SGD 450).
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Market research firm Eurogroup Consulting's survey shows that from 2020 to 2024, Singapore's second-hand market is expected to have a compound annual growth rate of 17.5%; it is projected to grow at a rate of 12.3% from 2025 to 2029, reaching a market size of approximately $3.8 billion (SGD 4.9 billion) by 2029.
Damien Duhamel, managing partner for the Middle East and Asia at Eurogroup Consulting, noted in an interview that a slowdown in growth rate does not mean a decline in demand, but rather reflects a maturing market.
He also observed that high-value items such as artworks and furniture involve logistics, storage, and authentication costs, which naturally limit the speed of expansion. Additionally, as the platform strengthens identity verification, product review, and buyer protection mechanisms, the transaction process has become stricter than during the earlier &#34;wild growth&#34; phase.
Duhamel believes that as the platform's mechanisms and authentication services improve, and as brands integrate buyback and trade-in mechanisms into their business models, second-hand transactions are transitioning from a fragmented &#34;gray market&#34; to an integrated, managed formal channel
At the same time, consumers value sustainability, and their consumption concept no longer views second-hand goods as an &#34;alternative option,&#34; but rather as a &#34;wise choice.&#34; The trading of second-hand goods is expected to become the new norm in local retail

Singapore's second-hand market is experiencing diversified development, with consumers' perception of second-hand goods surpassing that of "cheap products." High-priced categories such as furniture, artworks, and antique jewelry are favored, with professional sellers attracting customers through digital platforms. Surveys show that the search for unique items has become one of the important reasons for purchasing second-hand goods, while the focus on reducing waste and the circular economy is also on the rise. The transaction volume and posting volume in the second-hand market have significantly increased, especially for vintage furniture and antique artworks

Singapore's Emerging Second-Hand Market Model: Old Items Can Also Create New Value | Lianhe Zaobao