Forbes has written about it and so has Vogue, it’s talked about in most women’s magazines…yes, its handbags. We ask the question, Are handbags an investment or a waste..?
You may have seen that it can easily cost up to £150GBP for a pair of designer jeans and to some this would be considered extravagant. You may even gasp at the thought of buying the world renowned Hermes Birkin at over £30,000 GBP, even if it’s made of lime coloured snakeskin embellished with precious jewels.
So why would anyone spend so much on a purse when they could have something a little roomier and more useful–say, a car–for the same price? For its exclusivity, originality and above all, status, says Marshall Cohen chief analyst for the Port Washington, N.Y., research firm NPD Group,.
“It’s the difference between buying a Rolls Royce at $300,000 and buying a Rolls Royce at over a £100,000,” he says. “There’s really little difference at some point–it’s the status that comes along with it and the desire to separate yourself.”
No doubt the popularity of certain brands like Hermes, Gucci, LV, Fendi and others have channeled their efforts through extensive marketing, not to mention cat walks, along with the use of celebrities like Madonna to get the message of exclusivity across.
In the 1960s, after a structured Hermès bag graced the cover of Life magazine, shielding the pregnant stomach of Princess Grace, everyone wanted a “Kelly” purse. The ’80s belonged to the roomier, softer Hermès bag inspired by British icon Jane Birkin. After the minimalism of the early 1990s, the opulent Fendi “Baguette,” which came in dozens of versions, inspired lengthy waiting lists. Women shelled out hundreds, and sometimes several thousands, for the “It” bag.
The major shift in this overall handbag price point occurred about five years ago with the emergence of what Cohen calls “signature items.”
The willingness to spend way more than necessary, and to think of an accessory as an investment and a collectible, is part of what makes a handbag so coveted, Cohen says.
In essence, it will always cost more to produce something of quality i.e. craftsmanship against automated production in factories where hundred and even thousands of the same are produced at a low manufacturing cost. Surely what goes in to handmade luxury is heart and soul. Arguable why purchasing this is an investment.
Here are some true investment piece handbags for you to enjoy!
