What is the VAT margin scheme of second-hand goods? 16 October 2023 13:23 Updated Items on Laced are sold under the VAT margin scheme of second-hand goods. This means that the items sold on Laced are considered “second hand”. However, we ensure that every item sold on Laced is unused, in brand-new condition and in its original packaging - this is sometimes referred to as “deadstock”. Our team of expert authenticators ensure that every item is in the same condition that you would find in a retail store. You can find more details of the VAT margin scheme in our T&Cs.