Listen to what I have to say before you go to Target to purchase every single handbag you can get your hands on.
To begin, not all bags are made from the same material. If you were searching for an excuse to go on a buying spree on the high street for all your favorite handbags, I am sad that this tale is not it.
According to Forbes, designer handbags are now a better investment than paintings and provide a fantastic opportunity for investors to diversify their portfolios. This is primarily because designer fashion companies are capitalizing on the demand for the bags held by their client base by raising the cost of their classic bags and guaranteeing that they are tough to get.
Two companies stand out as the finest in making luxury bags suitable for investment.
Hermès
The Hermès Birkin and Kelly bags are considered the most desirable handbags in the world. Because their value has climbed by more than 500% over the last thirty-five years, investing in them is preferable to investing in the stock market. The investment value of the bags is unquestionably commensurate with the work required to get them, even though acquiring them might be challenging.
The instant you walk out of the shop carrying a Birkin bag, its value immediately increases. For instance, if you buy a Birkin handbag from the Hermès flagship shop, it could set you back $12,000, but if you wait a few years and sell it on the secondary market, you might be able to get twice as much money.
Chanel
According to the study, the price of a Chanel classic bag has skyrocketed by an astounding 70% in the last six years. To put this into perspective, a bag you purchased in 2014 for $2,000 would be equivalent to $3,400 today.
Because Chanel bags are far more accessible, the return on investment for purchasing one is not quite as high as it is for Hermès. On the other hand, Chanel often raises the prices of its iconic bags at least twice a year. This indicates that the bags keep their worth and, most of the time, may be sold at a price that is far more than the price at which they were initially purchased.
In contrast to many other types of assets, the value of luxury bags has not been affected by the COVID-19 crisis. As someone interested in fashion and pleasant things, I have my sights set on the exquisite luxury bags Hermès and Chanel produce. Spending hundreds of dollars on a bag becomes a more reasonable purchase when I keep in mind that it is an excellent investment item that I can resell in the future for a profit.
I don’t have to feel bad about buying new bags now!