Luxury fashion at bargain prices

April 2, 2013 3:19:02 PM PDT is an online luxury resale store that offers customers pieces that are priced up to 90 percent off retail.

"Even though you're shopping Chanel at J Crew prices, we want to make sure you're treated like you walked into a Chanel boutique," Julie Wainwright, The RealReal CEO, said.

What you stumbled upon is luxury pieces that won't break your budget.

"We literally get in thousands of things - about 5 thousand each week, so you get to see new things all of the time," Wainwright said.

Most prices are around 70 percent off retail. A Chloe sweater vest in store will cost about 800 dollars, but here it is $125.

But don't think vintage. The entire inventory is from the last 10 years, most the last two.

A gemologist and other experts check to make sure everything is authentic.

In terms of condition, the standards are high. The team is very picky about what they'll accept, which is something the nearly 1 million people who shop here count on.

"We do have a lot of pieces with tags and we have women that clean out their closet every season and consign those few pieces," Rati Levesque of The RealReal said.

People like Lorie who a few months ago had a baby. A lot of her pieces simply don't work for her anymore.

Today someone from The RealReal is going through her treasure chest.

"It is honestly the best thing since food delivery in New York City," she said.

If her items sell, she'll get 60 to 70 percent of the sale.

"After a dress is worn a few times to a few events sometimes it just sits in my closet so why not consign that dress to buy something new," Lorie Broser, consigner, said.

To learn more, visit The RealReal online by clicking here.