A designer handbag isn’t just a fashion statement – with plenty ringing in the tens of thousands of dirhams, it’s a serious investment.
However, unlike an expensive engine, a luxury tote doesn’t always lose value as soon as you leave the store.
If treated with TLC, a bag won’t necessarily depreciate, and some styles can even make you money if you choose to resell it at a later date.
“There are now a handful of bags on the market which, if properly cared for, could allow you to recoup the majority of your investment and in some cases even make a profit if you decide to resell it,” said said Milli, Fashion Editor of Luxury Closet. Midwood.
So without further ado, here are seven designer bags you would be wise to invest in.
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According theluxurycloset.com, the value of this classic leather tote has increased by 500% over the past 35 years, and one even sold at auction for Dhs 855,000. The iconic bag was designed and named for actress Jane Birkin, after she told Hermès CEO Jean-Louis Dumas she couldn’t find a leather weekend bag who pleases him. Prices for the style range from Dhs 36,000 to Dhs 481,000 when purchased new, depending on the type of leather or exotic skin used. The average Birkin retains 72% of its value, while limited-edition pieces can fetch the seller around 1.3 times the retail price.
Chanel flap bag
This quilted shoulder bag with a distinctive chain shoulder strap was first designed in the 1920s by Coco Chanel herself, who was tired of day bags that never left her hands free. The recognizable style has increased in value by 200% over the past 10 years and will now fetch between Dhs 14,700 and Dhs 22,000, depending on the leather, color and material, when resold. “On average, Chanel increases its prices by 8-12% each year, so a bag bought now could potentially increase by more than 30% in value in a short period of time,” Midwood said.
Goyard St Louis shopping bag
It may be less well-known than Chanels and Hermèses, but the house of Goyard’s signature tote has attracted a cult following (mainly thanks to its rare presence in stores). St Louis style sellers can earn, on average, 1.3 times the original selling price. That’s if you can get your hands on a first…
The Birkin may be the French fashion house’s flagship piece, but the Kelly comes close behind. This chic design was inspired by actress and later Princess of Monaco Grace Kelly, a woman known for her timeless clothing choices. There are no set numbers on his retention of value, but as a favorite of A-listers such as Sarah Jessica Parker, Beyonce and Miranda Kerr, he’s always in demand.
Dior Lady Dior
This elegant number with delicate handles owes much of its fame to the late Princess Diana, to whom the bag was gifted in 1995 by French First Lady Bernadette Chirac, wife of former President Jacques Chirac. The royal has been pictured wearing her black Lady Dior on numerous occasions, often pairing it with a crisp two-piece skirted suit. “The bag’s rich history alone will earn it a spot on the best bag investment list, with resale price varying depending on material, leather and size,” Midwood said.
Chanel Boy Bag
This small shoulder bag only debuted in 2011, but it has already proven popular with the high fashion crowd. When launched, a Boy cost Dhs 9,200, but nowadays prices start at Dhs 18,700. And if that wasn’t impressive enough, it usually retains at least 90% of its resale value.
A brown or beige leather handbag, dotted with the famous LV logo, is not likely to go out of style anytime soon. Several styles from the heritage fashion house make a smart buy, with the Neverful, Speedy and Alma proving the most popular. All three fetch an average of 70% of their resale value, so you can’t go wrong with any of them.