Should You Buy a Designer Bag This Christmas?

Christmas is just around the corner and the perfect excuse to treat yourself, what about a designer bag? I mean, after all, they say bags are great investments and good financial decisions, but are they really? 

Courtesy of Vogue

Purchasing designer handbags is not, or should not be, a light decision no matter what your financial situation may be. The biggest mistake is fooling yourself into buying luxury but really you are just buying a logo. So let’s get into it, what does it mean to invest in designer bags and which bags should one buy?

Let’s start off with a little introduction to Investment 101, in short, investing means buying anything that in time will increase its value and as a consequence you will receive something back. When investing in fashion it is imperative to understand that quality of materials and desirability demand are key components when choosing a luxury item to invest in. 

Courtesy of Vogue

Luxury of course can be subjective but when it comes to fashion, jewelry and accessories it really means that said item is made out from the highest quality materials, often made by hand or with craftsmanship techniques, and is made in low quantities adding to its value. That is why knowing what you are buying is way more important than just looking at the design, meaning that if a bag has a big logo it doesn’t mean durability, quality or value. On the contrary, take Bottega Veneta, a silent luxury fashion house whose designs are extremely recognizable and maintain a high price as well as high demand without any logos. 

Courtesy of Vogue, Princess Kelly holding the Kelly Bag

Bags gain value as time goes by due to two things; limited runs and historical significance. Timeless designs that have history like the Lady Dior or Hermes Kelly bag are associated with literal princesses and have never gone out of style so they become very sought out pieces. Then there are bags like the Himalayan Birkin bag that are made from extremely rare materials and just a handful are made making them even more desirable. 

Fashion is all about trends and as we’ve witnessed trends change every single day, keeping up is difficult and makes appreciation harder. Here is when investing in bags gets tricky. As trends come and go it can become hard to decide which bags will last or flop. To play it safe, invest in brands like Chanel, Louis Vuitton or Hermes who are a guarantee as they are the most popular on demand brands. Models like Dior Saddle, Balenciaga City Bag, Chanel flap or Hermes Birkin have been gaining value each year that goes by. 

Also there is this thing called fast fashion and as of lately big fashion houses like Gucci, Dior, Versace and Balenciaga have been redefining luxury as something that is more accessible and mainstream adding another risqué factor to the value a bag could possess. 

Deciding on a model is just the first step, then comes insurance, maintenance and certification. Keeping a bag in optimal conditions is a job of itself and an extra investment as pricey bags need extra care. 

A good investment is one that not only gives good profit but also tolerates risks and aligns with personal goals. Of course every investment is a risk and bags have proven that they can be a really good one as some usually go over 40% of their original price tag. 

Courtesy of Elle Mexico

Having a collection of these bags should be one of your financial goals? You can start off by buying pre-owned bags. 

Without a doubt Hermes is the leading brand in creating high quality items and has maintained an air of exclusivity as their designs are not made in mass, there are literal waiting lists, remember “‘it’s not a bag, it’s a Birkin”. 

Bags really are craftsman ships of their own, some are even pieces of art. Like Debbie Wingham’s Upcycled Easter Egg purse encrusted in jewels and valued at 6 million USD or even my favorite the Hermes Chaine d'Ancre by Pierre Hardy, a gorgeous white gold chain bag with 11,000 diamonds valued at over 2 million USD. But Hermes’s HImalayan Birkin bag takes the cake not for being the priciest for the most notorious bag. Made from Niloticus albino crocodile skin and 250 diamonds, amongst the lucky owners is Posh Spice herself Victoria Beckham. 

You probably won’t be investing in a diamond encrusted bag but just remember that knowledge is power. Make your research and really know what your bag is made from, who made it, where. Buy smart. 

“Our vision remains consistent with the one of our founders. They wanted Bottega Veneta to represent the most elevated and refined form of luxury. We count days, not hours, to make our products. They are designed to last forever,” said Rongone chief executive of Bottega Veneta.