A simple glance into your socials pages might elevate your heart-rate simply by looking at all the amazing luxury items worn by the rich and famous but are luxury name branded good really worth your buy?
If you’re looking to treat yourself to a designer bag, that’s one thing. But if you’re purchasing an item for its resale value, you need to know what keeps its worth and what depreciates with age.
Here are a few items worth the investment.
Prive Porter, a US-based collector, and reseller of a luxury bag sold the red Birkin bag for $298,000 to an anonymous buyer, beating the previous sale of the pink Birkin ($221,868). This red bag is definitely pricey, but the handbag is hand sewn from a red crocodile skin. The bag also encrusted with 10 carats round diamond on the lock and buckle. But, that not enough because the bag is also outfitted with 171 grams of 18-karat white gold. A With all the diamonds and gold in the bag, it is no longer surprising that the bag sold that much. A The most expensive Birkin bag sold on the luxury resale market originally bought in Hermes flagship store in New York City in 2008 by an American collector and remained unused.
Red Hermes Birkin
Estimated Cost: R4 470 000
A 2017 study revealed that the value of Hermès Birkin bags has increased 500% in the last 35 years, an increase of 14% per year. One of the most coveted models comes from Hermès’ Himalaya collection, which comes in three sizes. Often referred to as the holy grail of handbags, the white Himalaya Birkin bag features 18-karat white gold hardware and more than 200 diamonds.
The 35-centimeter model in particular is very rare and has sold at record prices year after year. Most recently in 2019, it sold for over half a million dollars. Professional sports betting consultant David Oancea, also known as Vegas Dave, made the record-breaking purchase.
Chanel Classic Handbag
Estimated Cost: R87 000
One of the luxury brands to own in Singapore has to be Coco Chanel. As one of the most distinguished fashion brands in the world, owning a Chanel item symbolizes elegance, wealth, and luxury.
Louis Vuitton Neverfull
Estimated Cost: R62 820
Since Louis Vuitton doesn’t go on sale, their market position is placed perfectly making all their luxury goods a must have. The Louis Vuitton Neverfull large tote bag is one of its classic designs which remains inconic to the brand. The bag itself keep coming back year after year since making its debute in 2007. The Neverfull typically comes in Monogram, Damier Azur and Damier Ebène coated canvas as well as Epi Leather designs. This style went on to become one of Louis Vuitton’s most successful styles, marking a key point in the history of Louis Vuitton.
Estimated Cost: R112 500
Rolex is one of the very few luxury time piece if not the only brand that is able to maintain a high resale value with the majority of its products. However, some models hold their value better than others -the Submariner and the Daytona are the best bets to invest in if you hope to eventually resell.
Christian Louboutin Shoes
Estimated Cost: R17 925
Christian Louboutin is among the few luxury shoe brands that hold their value. especially true for more ornate and embellished styles. The Follies Strass pump sells new for $1,195, while a used pair can sell for as much as $1,025.