By Jennifer Patrick, Owner, The Couture Exchange
Louis Vuitton, Gucci, Fendi, Chanel….just the mention of these iconoclastic luxury brands makes many a fashion-focused female drool with envy. If you own a couture handbag from one of these makers, you can appreciate the obsession, and you are well aware that luxury at this level comes with a price, and often a hefty one. But there is some consolation which may make your next couture handbag purchase a bit more palatable...and maybe even profitable. Did you ever think that your handbag obsession could become an investment like art or jewelry?
This summer I was reading an article citing that the price of couture handbags has risen over 25% in the last three years. Since I am in the business of Couture Resale I decided to do some additional investigating of my own. A basic Louis Vuitton tote sold for approximately $420 in 2000.
Today, that same exact handbag sells for $790! That’s an 88% appreciation in 5 years. I did the same experiment for a basic Gucci, Fendi, and Chanel bag to see what would happen. Gucci & Fendi had seen an approximate rise of about 70% during that same time period and Chanel had risen about 36%. The national CPI for that same time period rose less than 15%!
Well, ladies (and gentlemen if you’re reading this) it looks like handbags may not just be for fun anymore—they could actually be an investment!
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