The first ever report on tracking luxury handbag sales as an investment was recently published by Art Market Research. Luxury handbags have always been about fashion and style until about ten years ago. Now purveyors of luxurious bags are using them as collector items. They are buying them for the art of each piece.
Hermes crocodile bags began changing the market ten years ago. A special series of their bags broke all market prices creating a trend in owning the collectables. Sales went from 5 million to 26 million at major auction houses in the last eight years.
The report follows five brands: Chanel, Hermes, Birkin, Banksy and Louis Vuitton. There are many considerations such as age, color, style and availability. Prior to 2010 handbags were just an expense to satisfy tastes in fashion. No one ever would have predicted where the market would head with these bags. No longer is it just fashionistas buying them but also collectors, resellers, dealers and the ultra wealthy.
I bet you are ready to join the fashion investors?