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• Research objectives The emergence of the second-hand luxury market (hereafter SHL) has reinforced the democratisation of luxury brands, challenging an industry historically grounded in rarity and exclusivity. SHL questions the very foundations of luxury by undermining its traditional characteristics. Using the analytical framework of liquid modernity, this article seeks to analyse the paradoxes between new luxury and the SHL, thereby contributing to the conceptualisation of a new form of luxury. • Methodology This research adopts a qualitative, exploratory approach, combining observations with semi-structured interviews conducted with twenty SHL consumers. It focuses on their perceptions of SHL while examining the paradoxes between new luxury and SHL. • Results Through the lens of liquid modernity, this article identifies the key paradoxes associated with SHL in comparison with new luxury : timelessness vs. ephemerality, exclusivity vs. inclusivity, and guarantee vs. uncertainty. • Managerial implications Recommendations are provided to luxury brand managers on how to adapt their strategies to address the challenges posed by SHL. • Originality The originality of the article lies in its adoption of the analytical framework of liquid modernity used to explain consumer trends and the evolving perception of luxury, which may vary across contexts.