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Handbags Are the Classic Cars of the Fashion Set
Like the shoes of yesteryear, the must have "it" accessory that has all the fashionistas are clamouring for are handbags. They want all the latest offerings from popular designers. It is a market that has much in common with the male world of sports cars.
Few fashionable ladies missed it when Sainsbury's sold 20,000 "I'm not a plastic bag" Anya Hind-March totes for only a few bucks. Just a few hours later, those same unbleached cotton bags were selling at over 100 bucks. "Every girl has a handbag," according to Christie's employee Monica Turcich, "and every girl wants one." Women want exclusive bags that no one else has. This has always been a popular trend.
Like men-favored sports cars, most of the newest designer handbags which sell through dealers and auction houses make much less than their original retail price. This means they are losing value the second the initial purchase has taken place. Generally, this is good news for both collector-investors and handbag enthusiasts, but there are the exceptions.
This previous December, Christie's sold a red Hermes crocodile skin Kelly bag for $15,800. This purse had only been purchased in 1998. According to Turcich, the Kelly bag is the "holy grail" of the classic handbag world. She said, "Chloe and other more contemporary bags are more driven by what's popular now, but for Hermes and Chanel's quilted bag, these are classics which never go out of style and are always useable." You can get a Kelly bag for $900 and you can resell it for $1,500- $3,000.
Most handbags are being bought to be used, so they are not an investment market in the same way as many other collectables such as Paul Smith, Abercrombie and Fitch, D-squared, etc., but again there are parallels to the car market. By investing in a classic bag and looking after it, you are unlikely to lose money, but you may see a steady gain with the added return of enjoying use of the purse.
Hindmarch's "I'm not a plastic bag" purses are probably not going to "classic" status, since they are mass-produced cotton totes, but other handbags from her collections might well do so. Christie's has yet to sell any Hindmarch bags, but Turcich says she wouldn't be surprised at all if they start turning up at auction soon. She says she wouldn't turn them away. "Kylie Minogue was pictured carrying a Chloe bracelet bag around a few years ago which sparked a fashion and now we are selling the same thing at auction."
There is one bag in mint condition in the next auction which is estimated at $800 to $1,500 along with another Chloe handbag in the same lot. "I think Chloe has started the 'it' bag scene" adds Turcich, "I don't know how long it will take for them to become classics of their own, but I'm sure these will hold their value in five or 10 years' time."
About the Author
Sarah Harvey is an author writing about handbags related topics, and you are invited to visit her website covering number of aspects about
designer handbags
&
Hermes Kelly handbags
.
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