Bag’s “Real State”
Everyone at some point have had some thoughts about investing their money somewhere. Properties, gold, the stock market, crypto… But what about luxury bags? This market moves millions of pounds a year. Bags from Louis Vuitton, Chanel and Hermès not only retain their value but increases over time. The price of Chanel’s Classic Flap Bag has nearly tripled in the last decade, being $1,650 in 2005, now the same lambskin bag goes for $4,900. Every year, luxury brands increase their prices mostly on their most iconic or desirable items, but price is not just the only obstacle to get one these pieces. A few years ago, I bought the Louis Vuitton Bum Bag (£1,020 back then, £1,410 now and up to $3,000 second hand) and I remember one of the girls working at the boutique saying to me “Oh my God! You are so lucky!”. ‘Lucky’… I had to wait 5 months and come as soon as my sales associate called me to get it. But this is nothing compared with Hermès and ‘The ...