November’s – ‘The Timelessness Issue’ – Download Now
The Vice President & International Senior Specialist in Handbags & Accessories, Rachel Koffsky at Christie’s London discusses investing in a classic.
What do your first 30 mins of the day look like, your morning routine?
Every morning, I make coffee with a French Press while reading emails that came in overnight from Asia, the Middle East and Europe. I check my schedule for the day and walk to work which is at Rockefeller Center through Central Park.
When did you first become interested in Hermès and what was the reason it felt most special to you?
I first became interested in Hermès when I was in university. In a 2011 edition of a fashion magazine, I read that Diane Kruger bought herself a Hermès Constance, a piece she had always wanted when she was signed to a modelling agency. I too fell in love with the Constance bag, and I wanted to learn all about it.
Hermès bags are considered a timeless investment – why do you feel they hold their value if not increase over time?
Hermès models such as the Birkin and Kelly are made by hand in the ateliers using very high-quality materials, by expert craftsmen. They will stand the test of time, as their construction is impeccable. The design of the bags is also timeless ensuring they never look outdated.
How have you observed buying behaviour during your tenure at the brand and does this differ greatly on a global scale?
There are definitely several regional trends that differ by location. We have held auctions in Hong Kong, London, Paris, and New York that are curated both for the local clientele and also international bidders.
What specific attributes work well for the UAE market?
Clients in the UAE market are very discerning collectors. They appreciate limited edition, rare and unique pieces. Bright colours also do very well in the Middle East. The condition of each product is an important feature for clients in the UAE.
Do you personally have favourite a Hermès piece and which was your first investment?
My favourite Hermès piece is the Sterling Silver Mini Kelly. My first investment piece was an Etain Sellier Kelly 25 with Palladium Hardware.
What advice would you give for buying via the secondary market?
The most important advice is to purchase via a reputable source. Do some research into the piece before you purchase. Also, if it appears too good to be true, it most likely is.
As each bag is repairable for life making it a truly timeless investment. Can you tell us more about this approach to longevity?
Please take proper care of the pieces in your collection. Not only will they retain their value, but you will enjoy using them more. Ensure proper storage and gentle use. When necessary, take your bags to the spa for a refresh.
This is The Timelessness issue – what or who is timeless to you?
A Hermès scarf is timeless – one that will turn a white t-shirt and jeans into a sophisticated outfit.