A designer handbag isn’t just a fashion statement – with many ringing in at tens of thousands of dirhams, they’re a serious investment.
However, unlike a pricey motor, a luxury tote doesn’t always lose value as soon as you drive away from the store.
If treated with TLC, a bag won’t necessarily depreciate, and certain styles may even make you money should you choose to resell it at a later date.
“There are now a handful of bags on the market that if maintained well, you could recoup the majority of your investment and, in some cases, even make a profit should you decide to sell it on,” said the Luxury Closet’s Fashion Editor Milli Midwood.
So with no further ado, here are seven designer bags you’d be wise to invest in.
According to theluxurycloset.com, the value of this classic leather tote has risen by a whopping 500 per cent over the last 35 years, and one has even sold for Dhs855,000 at auction. The iconic bag was designed for and named in honour of actress Jane Birkin, after she told Hermès CEO Jean-Louis Dumas she couldn’t find a leather weekend bag she liked. Prices for the style range from Dhs36,000 to Dhs481,000 when bought new, depending on the type of leather or exotic skin used. The average Birkin retains 72 per cent of its value, while limited-edition pieces can score the seller around 1.3 times the retail price.
Chanel Flap Bag
This quilted shoulder bag complete with a distinctive chain strap was first designed in the 1920s by Coco Chanel herself, who was tired of bags of the day which never left her with a free hand. The recognisable style has increased in value by 200 per cent over the last 10 years, and will now net anywhere between Dhs14,700 and Dhs22,000, depending on the leather, colour and hardware, when resold. “On average, Chanel increases its prices from 8 to 12 per cent each year, so a bag bought now could potentially increase in value by more than 30 per cent in a short time frame,” said Midwood.
Goyard St Louis Tote
It may be lesser known than the Chanels and the Hermèses, but the house of Goyard’s signature tote has attracted a cult-like following (mostly thanks to its rare retail presence). Sellers of the St Louis style can make, on average, 1.3 times the original retail price. That’s if you can get your hands on one first…
The Birkin might be the French fashion house’s hero piece, but the Kelly comes in a very close second. This chic design was inspired by actress and later Princess of Monaco Grace Kelly, a woman known for her timeless sartorial choices. There are no set figures on its value retention, but as a favourite of A-listers including Sarah Jessica Parker, Beyonce and Miranda Kerr, it’s always in demand.
Dior Lady Dior
This elegant number with dainty handles owes much of its fame to the late Princess Diana, who was gifted the bag in 1995 by French first lady Bernadette Chirac, wife of former president Jacques Chirac. The royal was pictured with her black Lady Dior on many occasions, often teaming it with an impeccable two-piece skirted suit. “The bag’s rich history alone will score it a place in the list of best bag investments, with the resale price varying depending on the hardware, leather and size,” said Midwood.
Chanel Boy Bag
This dinky little shoulder bag only made its debut in 2011, but already it’s proved popular with the high-fashion crowd. When it first launched, a Boy cost Dhs9,200, but nowadays prices start at Dhs18,700. And if that wasn’t impressive enough, it typically retains at least 90 per cent of its resale value.
A signature brown or tan leather handbag, dotted with the famed LV logo, is unlikely to go out of style any time soon. Several styles from the heritage fashion house make a wise purchase, with the Neverful, Speedy and Alma proving the most popular. All three net an average of 70 per cent of their resale value, so you can’t go wrong with any one.