There’s a number of reasons why designer handbags remain to be the most sought-after fashion items for women today. A handbag is a status symbol, somewhat similar to a flashy sports car, and it is also the ultimate confidence booster. Wherever you are in the world, there is a universal clamor for brand names like Hermes, Louis Vuitton, Gucci, and Chanel.
These brands are known for craftsmanship and quality. Take Hermes for example. The brand has been around for over 100 years. The quality of their handmade bags cannot be surpassed by anything made in an assembly line. How do you compare the artisan status of bags made from premium materials and limited edition design with something you buy off the rack? Certainly, designer handbags are a class all their own.
It is, therefore, no secret that to own a designer handbag, you need to be ready to pay the price. Just like any commodity, the cost of designer handbags is also affected by the law of supply and demand. Fashion blogger Glenny Lugatiman said that buying a luxury handbag is an investment, and like any investment, it entails risks. Some of the risks involved with buying luxury handbags include how well you care for the item and how often you use it.
Lugatiman further said that you should buy a luxury bag because you like it. A lot of people like Hermes Kelly and Birkin bags thinking they can still sell the item ten years later for at least half the original price. This may be true to a certain degree. She gave an example to illustrate. In the 1990’s, a classic Chanel flap bag cost about P27,000. If you factor in the inflation and peso devaluation, the same bag when bought brand-new will cost around P150,000 today.
Going back to the example earlier, Lugatiman said that depending on the condition of the same Chanel bag you bought in the 90’s, it is possible to re-sell it for P70,000 today.
Tips for buying investment bags
Sure enough, a luxury bag is an investment. Some brand names, especially the classic and limited-edition designs remain valuable today. Here are a few tips for women who are looking for the perfect “investment” luxury bag.
1. Check how much money you have
Buying a luxury bag is not a necessity. As such, when you are setting aside money to invest in a luxury bag, it should not come out of your budget for living expenses like school tuition.
2. Look for iconic and classic designs
Many of the famous fashion houses with recognizable bag designs produce a lot of different styles every season. But the iconic and classic designs remain the same. The Hermes Kelly bag has been around since the 1950s and the design remained the same. Many of these brands created bags that transcended trends, stood the test of time, and still remained fashionable.
Investing in the classics is wiser than spending too much on trends that come and go. Lugatiman advises to look for something classy and feminine, a design that you can use for a long time.
3. Research on the bag you want to buy
“When buying an expensive luxury bag, I recommend going through the history, the tradition of the brand, and knowing it thoroughly before investing in it,” said Lugatiman.
4. Beware of fraud and buy only from the luxury brand’s boutique
Lugatiman further warned against online scammers who sell fake bags. Since it is an investment, don’t scrimp and buy from a boutique. There might be temptation to buy a fake, stock overrun or OEM bag, but it will hurt you on a long run.
Lugatiman also explained that the luxury bag resale marker in the Philippines has grown significantly over the years. Many Filipinos are selling their designer goods online which is driving prices down. In some instances, because the market is saturated and the bag is no longer in prime condition, reselling is no longer possible. Cebu is not an exception to this trend. Nevertheless, if you are looking for a luxury bag, there are reputable resellers in Cebu that can get you the luxury bag of your dreams.