If you’re a regular Luxity lady or lad, you’ll know by now that authentic designer handbags (and other luxury accessories) are a better investment than gold. However, to ensure your luxury accessories maintain their value, you have to make sure you purchase the correct item as well as handling them with care. Keep reading for our top ways how to ensure your designer bag has a high resale value.
Invest in The Right Brands
If you’re looking for bags that are not only an investment into your designer closet but into your bank account, then you need to purchase the right brands. Of course, you can’t really go wrong with a French label made with rare and luxurious materials, designed by top quality creators, but if you’re going for gold, it’s always best to choose a brand from top designers. According to our most recent study of the African Market Report, the top 5 performing brands in South Africa are Louis Vuitton, Christian Louboutin, Gucci, Chanel, and Hermès. Although these brands come at a steep price, they’re worth every penny as their values increase exponentially.
What’s more, classic items like the Chanel Boy Bag, the Chanel 2.55, Louis Vuitton’s Speedy or Neverfull, and of course, the iconic Hermès Birkin and Kelly bags are top runners for valuable designer labels. So, the next time you go shopping, think timeless, not trendy.
Invest in Rare Designer Items
Classy and timeless is always a top priority, except when we’re talking about rare items. Limited edition items are individual works of art and their scarcity makes these already coveted items even more desirable, especially to designer handbag collectors. Whether they’re made in exclusive quantities, customised or created for a popular collaboration with well-known designers or artists, these masterpieces tend to reap huge returns at resale markets and auctions. For instance, selling your Hermès Birkin bag will give you a great ROI as it’s a highly coveted item, but an Hermès Himalayan Birkin handbag, AKA the rarest handbag in the world, can be cashed in for thousands more.
Do Your Research
Handbag trends are ever-changing, so set your expectations straight. Just because a handbag appeals to you, does not necessarily indicate a higher resale price than others. Therefore, if you’re considering your pocket more than what fits your fancy at the moment, you have to do your research.
You can do this with a quick google search into the value of the item, its style, style, size, materials used, metals used as well as the designer label itself. You can also compare the prices of other trusted luxury resellers and compare how certain items have been valued over time to get a better item of which styles and labels are appreciating or depreciating over time.
Uphold The Condition of Your Handbag
Once you’ve purchased your handbag of choice, it’s imperative that you maintain the condition of your luxury item. A dilapidated designer bag is not only an eyesore but will certainly lose its value too. In fact, this is why many big designer bag collectors like Victoria Beckham, Jeffree Star and Kylie Jenner choose to store their designer bag valuables in vaults or display cabinets in efforts to protect them and uphold their condition. However, you could also simply store your handbags in their original dust bags.
PRO-TIP: Saving dust bags, original boxes, receipts and other accessories are pivotal to maximizing the resale value of your bag.
Know When To Sell
Other than purchasing a designer item with a high resale value, it’s also important to strike when the iron is hot! It’s important to study and understand the market at the exact time you’re planning to sell your investment piece. It goes without saying that highly popular bags will endure huge price hikes, so you may have to play the waiting game. At times, this could mean waiting for the bag to be exceptionally rare and difficult to source in the resale market, and other times it could be anticipating the widespread interest the fashion crowd could suddenly take in its style.
There are, of course, exceptions. The aforementioned classics, like the Hermès Birkin and Chanel flap bags, will fetch an attractive price at almost any given time.
Where to Sell Your Designer Handbags
Luxity is the mecca of everything luxury. Whether you’re looking to sell your handbag and cash in the profits or trying to invest in the luxury world while the market is ripe – Luxity is the solution! So, what are you waiting for? Get shopping and selling now.