Over the years, designer bags have been considered a hot commodity. From Dior, Balenciaga, and Chanel to Hermes classic Birkin, designer bags have become more than just a fashion statement; it has become an investment. People, especially women, spend their hard-earned money on these bags for several reasons.
Just like art pieces, watches, jewelry, and antiques, designer handbags have become exclusive collectible assets, which led to a question, are designer bags a good investment? Well, this blog will assess the pros and cons of designer bags and let you decide whether it is a good investment for you or not.
What is an Investment?
An investment is a process of buying anything that will increase in value over time and will give a return to the investor. What it means is you spend money to gain more money over time. The goal is to earn money on your initial investment to make a profit.
Pros of Buying Designer Bags
1. Potential Profit Through Resale
Depending on the designer, rarity, and market value of the designer bag, there is a potential profit in reselling it for much more than you bought it. When reselling your designer bag, you can use popular resale websites like eBay, Vestiaire, and Grailed. Auctions sites are also great places for reselling. However, you must remember that resale markets favor high-end designers like Hermes, Chanel, Louis Vuitton, and other well-known designers.
2. Owning a Piece from a Coveted Brand with a Rich History
Depending on the designer and rarity of the bag, you can be one of the few owners of a rare piece of fashion history. Purchasing a vintage handbag or one of the few exclusive bags means you are a few owners of the few coveted bags in the world. An example is a Hermes Himalayan Birkins bag, owned by very few people and even exhibited at Sotheby's.
3. Designer Bags are Equated with Status
Carrying an expensive bag gives people the impression that you have money. Designer bags, when worn correctly, will give you a higher social status on par with celebrities and other "it' girls worldwide.
Designer bags are usually made of quality materials that can last a long time. With the proper preservation and care, these bags can last for many years and be passed down to your kids or family like an heirloom. Just be sure to use the right cleaning products and store your bags properly to preserve their beauty.
Cons of Buying Design Bags
1. Investments do not always guarantee a return
The key to a good investment is managing your expectations. Sometimes finding a buyer for your designer's purchases can be challenging. When selling your designer bags, you need to prove their authenticity and go a thorough, extensive check to ensure your bag is authentic and meets the resale standards; sometimes, it can also take many months to find a buyer.
Designer bags as investments are unique because they differ from the usual business investments. With business investments, you can make strategies and techniques to increase sales and profit. However, with designer bags, your profit will depend on the bag you've invested in, its condition, the designer's reputation, and the market value and rarity of the bag.
2. Buying a designer bag can be difficult
Sometimes buying a rare or exclusive bag comes with a waiting time. Depending on the exclusivity of the bag, there is usually a waiting list for purchasing, which can last for years. Celebrities and other rich and famous people are always ahead of these waiting lists, and if you are not a celebrity, it can take years to wait on these waiting lists.
3. Maintenance and storage
If you want to keep the beauty of your investment designer bag for future resale, then you have to ensure the bag is well-maintained and preserved. Any damage can affect its resale value, and this is why most handbag collectors ensure safe storage to avoid damages and scratches.
So Are Designer Bags Good Investments?
The answer to this question is it depends! A designer bag can be a good and not-so-good investment, depending on several factors.
Designer Bags are Good Investments if:
- You bought your authentic designer bags at a low price.
- If you will be using them frequently.
- If your designer bag is high in demand, rare, and is of very limited stock. Rare and limited designer bags increase their value over time.
- You can maintain its good condition.
- The brand of your designer bag is high-end, like Chanel Hermes or Louis Vuitton.
Designer Bags are not Good Investments if:
- If you bought a trendy bag that lost its value after the hype period. Fashion trends come and go, so if you're planning to resale your designer bag, make sure to buy a classic bag that will not lose its value over time.
- If you bought a fake designer bag. Designer bags are one of the most counterfeited items in the world, so make sure to buy only from reputable retailers.
- If you're not diligent in maintaining and storing them properly.
Tips on Maintaining Designer Bags
Maintaining our designer bags is a must, as continuous use might cause these bags to wear out faster. So we compiled this care tips list to help you preserve your investment designer bag for as long as possible.
1. Clean Your Designer Bag Properly
Clean your bag properly to remove any dirt and stains immediately. Carefully wipe your bag with a dampened cloth and pat dry with a clean cloth. It is also advisable to empty your handbag regularly, turn it upside down, and gently shake it to remove dust and other small objects. Always use mild soap and water in cleaning leather bags.
Tips on removing stains:
- Food Stains: remove stains by crushing white chalk on the stain for several hours and wiping it away with a clean cloth.
- Water Spots: Blot the water stain and let it dry naturally and bring your handbag to a professional cleaner for water stain removal.
- Ink Stains: Try rubbing fresh ink stains with a white eraser. Don't use too much pressure to rub the stains. If it doesn't disappear, bring your handbag to a professional cleaner.
- Odors: Put a baking soda pack inside your handbag when storing to remove odors.
2. Store Your Handbag Properly
Your designer bags are made from premium materials, so they can't be thrown into a heap in a dark corner of your room. Part of taking care of your designer bag is properly storing it when not in use. Clean your bag and store it in its dust bag. Don't pile your bags on top of one another. Store it in an upright position and to maintain its shape, stuff it with acid-free tissue paper, bubble wrap, or a handbag pillow.
3. Protect the Interior of Your Bag
Protecting the inside of your bag is as important as protecting the outside. One way of protecting the lining of your bag is by paying attention to what you put inside. Another way to protect your bag's inside is using a purse organizer insert. A purse organizer will help organize the things inside your bag while keeping it in shape and protecting it from spills.
4. Don't Overstuff Your Designer Bag
Routinely overstuffing your designer bag can permanently alter its shape. So limit yourself to the essentials to help preserve the shape of your bag. Carrying too many heavy objects will also strain the handles of your bag, which can lead to the stretching or learning of your designer bag.
5. Use the Right Maintenance Products for Your Designer Bag
A leather designer bag should be cleaned with leather cream or balm, while suede designer bags should be brushed with a suede brush. Be mindful of your maintenance products and always follow your designer bag's care and cleaning instructions.
6. Seek Professional Help
While cleaning and restoring your bag at home is possible, sometimes seeking a professional is a big help. Don't be afraid to seek our professionals, who specialize in cleaning, restoring, and repairing any bag to make it look new.
Here at PurseBling.com, we have a selection of beautifully designed, high-quality purse organizer inserts, dust bags, and handbag pillows that protect your favorite designer bags. Our timeless and functional handbag accessories will help keep your designer bags like new.