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Designer handbags – an alternative investment?

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A recent news article has revealed that some designer handbags could be an alternative investment – with a rare Hermes Birkin bag being sold on for up to second-hand for up to 13 times it’s original price.

Research from the pre-loved luxury website Vestiaire Collective identifies the 15 best-selling brands and styles that they say may be worth investing in, including:

  • Karl Lagerfeld’s Chanel Timeless (which was introduced in the 1980s) costs £3,840 brand new. If you own one of these, you could get almost your half money back with second hand prices starting at £1,800. If your version is in an unusual skin such as alligator or crocodile, you could make a healthy profit – with a Timeless red alligator bag for sale at £33,000 on the Vestiaire Collective website;
  • A new Louis Vuitton Speedy typically costs around £700 - but this style does tend to hold its value at around £450-£500 for a pre-loved model;
  • And while a new Hermes Birkin comes with a price tag of over £6,000 the research has shown it's a better investment than gold, with a vintage crocodile skin selling for around £40,000 while rarer styles can go for as much as £80,000 – just over 13 times the original price.

On the other side of the coin, designer brand Balenciaga has created a £1,670 handbag  - which unfortunately is identical to a 40p Ikea carrier.

Do you have a designer handbag? Then make sure it is covered! At UKinsuranceNET, our range of high net worth buildings and contents insurance policies provide all risks and worldwide cover.

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