|Are designer handbags worth the money?|
Monday, 02 April 2012 00:00Written by Kimberley Heit
Are designer handbags worth the money? That would be a resounding YES! If you're not a designer fashion lover you're probably shaking your head at me, but wait what if I told you that it can be a sensible financial investment.
After twelve months of use and carefully looking after one of my designer handbags I decided I was ready for a change. Now if I had of purchased a cheaper handbag I would have just donated it or even tossed it out. This would have meant that the money I spent on it would have just gone down the drain.
However, I sold my designer handbag for 80 percent of its original price. This means the bag only ended up costing me $140 not the $700 I originally paid. In that year I got to carry around a great piece and at the end I received cash back into my hands to reinvest on another bag.
Designer handbags are like cars they have a resell value. I would even go as far as saying that in many cases they do not depreciate as poorly as cars do. The last new car I bought and sold depreciated more then 50 percent after doing less then 9500 miles. In this time I also had to pay for insurance, fuel and maintenance. I didn't spend a cent on my handbag after purchasing it.
Okay the skeptical are still going to say that spending $140 on a handbag is too much and that they could have spent $20 on a bag and used it for several years. I could defend this by talking about the fashion value of the bag and how it made me feel stylish, but I have an even better line of defense. Some handbags don't depreciate at all in value they actually appreciate like artwork.
If you get your hands on a limited edition designer handbag that has been on a waiting list the handbag can actually increase in value over time. Compare this to the no name brand $20 handbag and you will have lost more then your $20, you will have lost the ability to make money from it.
You can tell me that you don't need a designer handbag to make you feel better about yourself and that's certainly great, but surely you couldn't say no to one that could make you money.
There are additional reasons why designer handbags are worth the money:
- Designer handbags are well made and intended to last for many years. Stores like Louis Vuitton even offer an ongoing service for some purchases. When I recently bought a handbag I was told to bring it back every so often to have it buffed. You can't tell me that a handbag made on a production line in China where speed and cost are the essence will be equally as well made as a hand crafted piece made by an experienced leather craftsman.
-Purchase a bag from iconic designer stores like Louis Vuitton, Gucci, Chanel or Prada and even the packaging has a financial value. I've been on online auction sites like ebay and seen the ribbon, boxes and bags these handbags come in for auction and receiving bids. You aren't just buying a handbag your buying an image. An image that people are willing to pay for even just to own a very small slice of.
-When you purchase something expensive you tend to value it and look after it. Some examples being a new car or expensive jewelry. The same will probably apply with a designer handbag. If you appreciate it you will store it in its dust bag and take care whilst using it. In contrast you are probably more likely to throw your $20 handbag into the bottom of the wardrobe. This is an additional reason why your designer handbag should last for longer.
-People have found quilted Chanel handbags buried deep in their grandmother's closet and found them to be worth several hundred dollars decades on. Designer goods end up attracting high vintage price tags. Due to inflation they may be worth more then what was originally spent on them.