Have Luxury Handbags Become A Better Investment Than Art?
- 20th Dec 2020
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In a time where there are multiple options for investments be it stocks, real-estate, crypto-currency or bonds, the idea of purchasing designer handbags with the intent of investments might not strike up as the smartest choice.
Contrary to popular opinion, luxury handbags have overtaken cars, whiskies and vintage art in terms of investment potentials.
While the investment potential of coins has increased by 21%, luxury watches have seen a growth of 72% whereas books an overall 42%- designer handbags, with brands like Hermes, Chanel and Louis Vuitton playing a huge role in the market, has overseen a huge growth rate of 83% in the past decade, which makes it a highly tangible market to invest in.
One of the most valuable of them all is the crocodile skin Birkin by Hermes, which has been considered to be the most valuable designer handbag in the world since a very long time.
In 2016, the hardware-d Birkin in white gold and diamond made a whooping $2.8 million Hong Kong dollars, amongst other collectables.
The crocodile skin Birkin by Hermes has been the most expensive bag to have been auctioned but falls short of the Hermes Kelly, which was renamed in reminder of the honorable Grace Kelly, the prices of which soared by 129% in the last decade, while the flap bags by Chanel have seen a rise of 132% across a similar time frame.
If you are looking for a fast return of investment, making a designer handbag purchase might be your best bet. The harder it is to find a designer bag brand, the higher the price rises.
While the production of designer bags by Hermes are super limited and restocked quite rarely, making luxury bag enthusiasts wait for nearly a year or more to get their hands on a piece, people are willing to pay more than two or sometimes three times the price as soon as the bag is up for grabs.
Popular auction house Christie’s is known to have sold its last designer handbag at a whooping price of $1.67 million even through the pandemic, which obviously included the crocodile-skin Himalayan Birkin that was sold at an estimated price of $156,000.
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