Who doesn’t love to get some return on an investment? Normally you hear this phrase around the likes of bank loans and shares in a business, but believe it or not, the same can be true about a handbag.
There are so many different brands of designer handbags to chose, from Chloe to Fendi, Dior to Prada and of course Chanel. Most of us, myself included, can’t afford to purchase these bags everyday and therefore knowing which ones will last you a lifetime and hold their value when it comes to resale is key to choosing the right one for you.
Each year the fashions change and there are obviously going to be handbags that are designed to meet these trends. There are also the classics that have been around for decades, these don’t follow a specific ‘trend’ and never date.
Let’s start off with the Chanel 2.55, or the updated version, the classic flap. This is the mother of all handbags and designed by Coco Chanel in 1929, it’s certainly done well to stay lusted after for nearly 100 years! There are many interesting features of the bags design, including the lining’s burgundy colour representing the colour of the uniforms at the convent where she grew up. The double CC lock has been added since the 1980s and these are what we now call ‘classic flaps’.
This handbag is certainly one of the best investments you can make (in terms of handbags), as time has shown the bags not only hold their value, but due to Chanel increasing their prices every couple of years, it actually increases! At 2017 collection prices, £3560 will get you a small, £3990 for a medium and £4450 for a large. This is a hell of a lot of money for a handbag, but if you have been looking at investing in a designer handbag, this one is certainly a safe bet.
In 2012, the resale price of a 2.55 was around £2,360, but by 2017, the resale price has increased up to £3,990. So currently you can gain up to 64 per cent of the 2017 retail price.
Other examples of handbags that hold their value are other classics. The Hermès Birkin and Kelly. Louis Vuitton Neverfull, and Lady Dior. Keep in mind that a black or neutral coloured bag is the most highly demanded on the resale market, so take this into account too! Don’t purchase handbags in collaboration collections for resale as their is a higher risk to them. For example, the Louis Vuitton X Stephen Sprouse Collection does very poorly on the resale market, perhaps due to the loud print not being to everyone’s taste.
The Dior Diorama, Fendi Peekaboo, Celine Luggage and Saint Laurent Sac De Jour are also fantastic options.
An example of a trend driven bag that does not hold it’s value is the Chloé Faye – or any of Chloé’s bag for that matter. Chloé tend to design bags in relation to the current trends. This bag is very clean cut and contemporary and therefore does not suit everyone’s style. The large silver ring and chain adds a 70s vibe to the bag and the thin structure can make it hard to wear. All of these features (and of course the colour I have gone for), add to the depreciation of the handbag.
The suede detailing on this handbag is also very hard to look after and mine has seen a few scratches already! If you are a keen re-seller of bags, I highly recommend you don’t invest in this one, as wear and tear will reduce the resale price dramatically.
A large Chloé Faye will set you back £1,280, but from resale websites such as Vestiare Collective or Designer Exchange you can pick one up for £695 on a good day! The demand for these bags is high currently due to it being summer and the handbag being ‘in’ this year, but during the winter months the prices will drop, if you can hold out till then!
Regardless of what you have heard about the resale value of a handbag, don’t let it hold you back from purchasing a designer bag you absolutely love. You personally may get more wear out of a Chloé bag over a Chanel one, as it may fit better with your style. Think of it as cost per wear and how many years you will love and wear the bag yourself. A great tip is to try to pair the handbag with at least 10 different outfits you wear in your wardrobe regularly, before going ahead with it. This reduces the risk of you purchasing the wrong one for you and your style!
I hope this post has helped you to understand more about the return on investment that designer handbags can offer you and even helped you decide on which one you’d like to purchase yourself in the future! Please leave your comments below.