Handbags are a special item for women - a place where they keep what is important to them or bought as a statement to the world, and more importantly themselves. These days, buying handbags is no longer a mad or crazy addiction, but actually a long-term investment.
Buying a new designer handbag sends adrenaline rushing through a person’s body. It is an actual high felt by those who take the leap and spend hundreds if not thousands of dollars on their new piece of treasure. And treasure it is, for designer handbags are the world’s newest investment trend. It has a place in the market with items changing from high to low prices everywhere. The best, of course, immune to market change and volatility, can double or triple in value in less than ten years.
Let’s take a moment to imagine the most expensive handbag. How does it look in your mind? Encrusted with expensive jewels and gold, perhaps? The smell of new leather that makes every bag lover swoon?
In 2015,Hermès Birkin bag in barbie-pink crocodile skin and diamond ornaments was sold for £146,000 to an anonymous phone bidder at Christie's famous auction house in Hong Kong. This, however, is not the most expensive sold. With 200 diamonds and a total of 8.2 carats, the creamy white crocodile skin meant to illustrate the Himalayan mountains increased in value of £98,000 in just one year - originally priced at £197,000, it was sold for £295,000 online - making it a worthy investment.
The value of the most in-demand handbags has risen by an average of 8 percent a year. Hermès rules the auction house due to its limited production runs, several-year-long waiting lists and excellent quality, but other luxury brands such as Céline, Chanel and Louis Vuitton are on the rise.
Vistaire collective is an online sales platform that had the fastest-selling item, breaking records by closing the deal in 17 seconds- a Chanel handbag. The most expensive ever sold on the platform a ruby-encrusted crocodile Birkin bag that went for £150,000.
"You pay 2.8 times today what you would have paid for a Birkin seven years ago - and that's just the retail price," says the owner of the platform. "There's a huge market for rare bags, and as soon as brands manage the distribution and restrict production, people will pay more. They want rarity, timeless shapes, and heritage brands. I think they also like the emotional element of bags named after icons such as Grace Kelly - the bags become brands in themselves."
Auction houses have noticed the trend and want in on the action. They are seeking to profit from a growing market of secondhand designer goods - especially when it comes to couture, handbags, and jewelry. A fashion department store called Sotheby's closed its doors 2004 - but it has now revived and rebranded itself as competition to Christie’s auction house.
Celine’s classic box bag first appeared in 2011 and is an updated version of the classic Celine style. The differences include changes in the original clasp - a horse-and-carriage metal clasp representing the company’s old logo was switched for a simple rectangular clasp. It is a good size for daily activities and it can be worn in multiple ways including cross-body, as a shoulder bag or as a clutch. It comes in a variety of colors and two sizes. The first, smaller size costs around $2000 and the second, larger bag costs $3000.
The channel flap bag is a classic, originally designed by Coco Chanel in1955 and updated by the late Karl Lagefeld. The newer version has the interlocking CC clasp displaying the brand’s logo. The chain strap is interlaced with leather instead of a metal stripe as its predecessor. It is available in four different sizes and has already increased in value by 70% since 2010.
Last, but not least, the Lady Dior bag by Christian Dior. It was originally named “chouchou”, the French word for cute or favorite, but the name changed when Lady Diana Spencer fell in love with it and became its ambassador. She carried the bag everywhere with her for many years. The topstitching is one of its key attributes along with the cushions of quilted leather. The icing on this stylish cake is its D.I.O.R charms that hang gracefully from the top handle of the bag. Pricing starts at $2000 dollars and it is worth looking into buying a vintage version online.
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