Handbags: The Classic Cars of the Fashion World
Fashionistas and Fancy Bags: A Modern Must-Have
In the realm of high fashion, handbags have become the new "it" accessory, just like shoes used to be. It girls everywhere clamor for the latest creations from renowned designers. But did you know this market shares surprising similarities with the classic car world, traditionally dominated by men?
From Sainsbury's to Sotheby's: The Rise of the "It" Bag
Remember the frenzy a few months back when Sainsbury's sold those limited-edition Anya Hindmarch tote bags for a mere £5 each? Within hours, those unbleached cotton totes were fetching over £150 on eBay! This phenomenon perfectly exemplifies the current obsession with handbags. As Christie's specialist Monica Turcich explains, "Every woman wants a handbag, and now they crave the unique 'it' bag that nobody else has." Classic styles have always been popular, but today's market thrives on these limited-edition, trendy bags.
Investment Potential: Not All Bags Are Created Equal
Similar to classic cars, most recently purchased designer handbags tend to lose value after the initial purchase. This is great news for both collectors and enthusiasts, allowing them to acquire luxury items at a lower price. However, there are exceptions. Take, for instance, the iconic Hermès Kelly bag, a holy grail in the handbag world. A pristine red crocodile skin Kelly bag sold for a whopping £10,800 at Christie's last year, even though it was originally purchased in 1994! These timeless pieces by Hermès and Chanel hold their value remarkably well.
Using and Investing: A Win-Win Situation
While most handbags are primarily bought for everyday use rather than pure investment, there's still a connection to the car market. By investing in a well-maintained classic bag, you're unlikely to lose money; it might even appreciate in value over time, with the added bonus of enjoying its functionality. Anya Hindmarch's "I'm not a plastic bag" totes might not become classics due to their mass production, but other pieces from her collection might stand the test of time.
The "It" Bag Phenomenon: A Tribute to Design
Celebrity influence plays a significant role in the "it" bag craze. A few years ago, Kylie Minogue carrying a Chloé bracelet bag sparked a major trend, and now similar bags are fetching high prices at auctions. This highlights a newfound appreciation for handbag design, recognizing the artistry involved, just like with shoes.
Beyond Big Brands: The Allure of Unique Finds
Big names aren't everything. Take Kylie Minogue's recent purchase of a unique white raffia bag with a horse's head from a vintage dealer. This unconventional piece exemplifies the desire for something special, a bag you won't see on every other celebrity. Both Ms. Minogue and handbag dealer Tony Durante emphasize the importance of this "unusualness" factor for many collectors.
The Key to Value Retention: Quality, Design, and Timelessness
So, how do you ensure your handbag retains its value? Look for impeccable condition, a timeless design, and exceptional beauty. While some trendy "it" bags might lose their appeal as styles change, classic pieces will likely hold their value for years to come.
