There has been an ongoing debate about luxury handbags and their ability to appreciate over time. Although people think luxury bags are a waste of time, others see the investment as a worthy cause. If fashion investment interests you, read on.
More Than Arm Candy
Luxury bags have adorned women’s arms for many years and have accentuated many outfits, and while they are also soft life staples for many, they are much more than arm candy. A 2019 study by Vestiaire and Boston Consulting Group revealed that luxury resale is on the upswing.
Choose The Right Brands
The fashion world has curated a list of handbag brands that are in the upper echelon of valuable assets and give the highest return on investment, and so far, the bags that fall into that category are Chanel, Louis Vuitton and Hermès. These three bags have a reputation for not going out of style, and maintaining the core market value even after time has passed.
Consider The Resale Value
According to Bloomberg, luxury bags are increasingly becoming a hot commodity in the consumer market. If you are considering investing in a bag, consider the value of the bag and how much you can get back in cash for it in a few years. A lot of factors go into deciding what type of bag will carry value in the long term, including the shape and the branding of the bag.
Consider One-Of-A-Kind Designs
There has been a recent uptick in buying pre-owned luxury items. If you want to resell your bag in the future, don’t write off unique designs. Many times, fashion bigwigs release bags with unique designs, structures or colors that go on to become very valuable. Although timeless bags are a staple, uniquely-designed bags can also have great value.
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