Handbags that add both style and value
When it comes to fashion, handbags are one of the most essential accessories. Not only do they completely transform outfits, but they can also be a stellar long-term investment.
While this has been my mantra for many years, or perhaps more like a justification to my husband, it has since been backed up by facts and figures and even Bloomberg! Ha, take that Brian.
Whether you’re looking for a timeless piece or something trendier, there are plenty of handbag styles that are worth investing in this year. In this blog, Handbag Social Club Co-Founder Brooke, will discuss the top handbags that will add both style and value to your wardrobe.
1). Hermès Birkin Bag
The Hermès Birkin Bag is one of the most iconic and coveted handbags on the market. Hand-crafted by a single artisan in France, each bag takes up to 18 hours to construct. But these beautiful works of art don’t come cheap, if you are able to score one at all. Birkin bags start around $12,000 and can cost up to $300,000, no I’m not kidding. They have also become notoriously hard to purchase in-store. Hermès is famous for its bag quota system, to limit the number of Birkins and Kellys purchased by customers. Not only does Hermès limit the amount of quota bags you can buy, to be offered a quota bag can be a daunting experience.
This expensive game of cat and mouse, and exclusivity of Hermès, has substantially increased the cost of their bags on the secondhand market. For example, a classic Birkin 35 will cost you $12,000 in stores. The same bag on the re-sale market can sell for way more, like $22,000. While I’m not a financial analyst, that seems like a solid purchase to me. With plans on raising the cost of a Birkin between 5-10% in 2023, the sooner you can buy a Birkin, the better. They are the ultimate status symbol and considered a better long-term investment than the stock market or gold.
Honorable mention, Hermès Kelly. Same rules apply to both acquiring and the re-sale value of Kelly bags. Currently, mini Kellys are one of the hottest items on the secondhand market.
Looking for a Birkin or Kelly? Request a bag and let us know.
2). Chanel Classic Double Flaps
With its iconic interlocking CC logo and quilted leather design, the Chanel Classic Double Flap is a symbol of timeless sophistication and luxury. Chanel classic bags never go out of style and continue to be sought-after bags on both the new and secondhand market. One of the driving forces behind the demand for this classic bag is the continuous price increase over the past ten years. If you were fortunate enough to purchase a Chanel Classic Double Flap in 2009 for $2,700, consider yourself lucky. Today the same bag will cost you $8,800. Luxury brands have never been shy about price increases to heighten the exclusivity of their bags. But recently, the increases have gone up by a record breaking 15% and have no plans to slow down.
The secondhand market is now the best place to find a Classic Chanel at a more reasonable cost. However, if you can afford to buy a Chanel Classic Double Flap from a retailer, treat her well and eventually you will be carrying around a sustainable investment on your arm.
Fun fact: it doesn't matter if you want a small Double Flap Bag or a jumbo, they come in a bevy of sizes and all are great investment pieces.
3). Gucci Jackie
Designed in the 1950s, the Gucci Jackie bag once originally introduced as the Constance, but was renamed after Jackie Kennedy famously used the bag as a shield from the paparazzi. It has since become one of Gucci’s most popular handbags. The bag has remained an icon since its inception and has been re-designed and re-imagined over the years. The Jackie comes in both classic leathers, printed canvas and in a few different sizes. Luckily for smart shoppers, while the bag has evolved over the years, the design elements have stayed the same. The only thing that has really changed is the price.
Like most good investment bags, the most recent revamped Jackie bag has come with an increased price tag. In 2022 Gucci raised its prices form 9-20% for most of its luxury goods. Before the re-issue in 2020 you could find vintage Jackie bags on the resale websites for approximately $300, the same bags can be found today for upwards of $750.
Other notable re-issued investment bags: Prada Nylon Shoulder Bags, Dior Saddle Bags and Louis Vuitton Pochettes.
At the end of the day, it's a personal choice when deciding how to spend your money. While some might argue in favor of more traditional investments, I prefer to enjoy my designer masterpieces in both my closet and on my arm.
