Many people find happiness in buying new things, and bags are no exception. If you’re an enthusiast, you probably have at least a handful that you switch around to match your outfits. There’s also a good chance that you have considered buying a handbag from a famous designer brand.
So, why hesitate?
Purchasing a designer handbag may require some careful thought because of the price tag, but good things come to those who choose to take the leap. This article shares the top three reasons why you should consider investing in designer bags, along with some bonus tips on how you can make the most out of them.
Why Buy Designer Bags?
Bags are generally used for carrying your things, but you may have something else in mind when purchasing designer handbags. Below are the top three reasons why people decide to buy these bags:
You can make money from them.
Want to learn a quick way to make money? Lease or sell designer handbags.
If you think about it, this kind of investment is simple. First, you need to buy a designer bag in used but good condition from an estate sale, consignment store, or any other non-retail route. Then, you get back the amount you paid for (and more) by leasing it on wardrobe rental platforms.
The rate for designer items rented out on a one-week basis is about 5 to 10 percent of its retail value. As time passes, your bag should already be able to pay for itself. If you’re lucky, you can even get a big profit out of it.
Don’t worry if the demand for your item drops. If this happens, you can still sell it for a good price. While uncommon, the price of designer items can appreciate over time. So, you may even have more money to use on other designer investments when you end up selling your bag.
According to a 2016 study, women purchase designer bags because they hold their value better over time compared to regular goods. Case in point — the 1955 Chanel Medium Class Flap bag that:
- Increased in annual value since its release
- Beat the increase in housing prices in 1955
- Raised higher than the stock market
- Appreciated for 70 percent of its retail value in six years
They have good quality.
One of the most common concerns among people who buy bags is quality. With designer handbags, you get more than the standard quality expected from such an item. You also enjoy a guarantee of durability in material and manufacturing.
As with clothing, designer bags last much longer than regular ones. They won’t show any noticeable signs of depreciation for a very long time.
They never go out of style.
One of the best things about most designer bags is that not only can they last a lifetime, but they can also help you stay fashionable for the same length of time. Since they came from famous designers who started the trends people follow, they can help ensure that you never go out of style.
6 Tips for Investing in Designer Handbags
Want to maximize your ROI with designer handbags? Here are six tips you should try:
Buy pre-loved.
One of the primary ways to ensure that the designer bag you buy is a worthwhile investment is to buy from a pre-loved designer bags collection. This will allow you to get a good price on the item while ensuring designer quality.
Only buy from reputable dealers.
When buying secondhand designer bags, you must also remember to stick to legitimate and reputable dealers.
Check whether the item comes with an authentication card to ensure that you’re buying an authentic designer bag and not some well-made knock off. Believe it or not, many fakes look a lot like the real thing. However, this doesn’t change the fact that they are not the original.
To be sure, don’t always rely on what you see and seek proof of legitimacy.
Pick a classic design that will never go out of style.
You may be asking yourself whether there is such a thing as a handbag that won’t go out of style. There is.
Make sure you don’t buy of-the-moment items that are only trendy for a limited time, like neon and gingham prints. Instead, go with the “classics” in terms of style, shape, color (i.e., neutrals), and design.
The key is to seek out products that have been selling well from a specific designer for years.
Study the reputation of the designer.
For this, it would help to answer some questions, such as:
- Has the designer remained popular for quite some time?
- Does it seem like they are here to stay?
- Is it a famous brand that many people are familiar with?
If your answer to all these questions is “yes,” then your chances of making a viable investment are looking great. After all, a designer bag is an investment that is only as good as its name.
If you buy a $2,000 bag from an unknown brand (or one that becomes unpopular after a few years), you’ll have a harder time getting a good ROI on your purchase. It’ll also be challenging to have it fixed when it starts to show signs of wear and tear.
Stick to bags made from durable material.
Although designer items are known for their quality, some materials last longer than others. If it’s for an investment, you should purchase a handbag made with known durable materials.
You can only enjoy a designer bag and potentially make it a source of income if it can last a long time. To ensure this, pick one that is made well and crafted using material that can withstand the test of time.
An excellent example of a great material is leather. Choose leather bags with grains or textures as these won’t be as susceptible to marks and scratches.
Take care of it.
You shouldn’t just let your designer bag sit in the closet collecting dust, but you must also make sure that you take care of your investment every time you use it.
Ensuring the proper care and storage of your designer bags will help you maintain their quality once you decide to sell them. So, keep them in their dust bags and away from direct sunlight and elements. Stuff paper in them when not in use to maintain their shape and structure.
Make a Good Investment
Although they are considered fashion pieces first and foremost, designer bags can also serve as a good investment. Take note of the tips listed here and understand the type of investment you’re making when buying these items.