Secondary Sale

A secondary sale occurs when an item, such as real estate, artwork, or collectibles, is resold by someone who previously purchased it, rather than by the original seller. For example, if you buy a painting from an art gallery and later sell it to someone else, that’s a secondary sale. These sales are common in markets where items appreciate or hold value over time. They often involve transfer of ownership without creating a new item, and may be subject to different prices, taxes, or regulations compared to the initial purchase.