It’s Not a Bag, It’s a Birkin! How I Saved and Purchased my Holy Grail Bag, Hermes Birkin!
If you are a bag aficionado and an avid collector like myself, you have THE Holy Grail Bag on your wishlist. You know what I’m talking about… if not, this is probably not the article for you.
Disclaimer: Everyone has different tastes, priorities and ways they spend and invest their money. This is my own experience and what I like. If this isn’t for you, please kindly stop reading.
All right, so here’s the deal: the more I studied the history behind the world’s top luxury brands, the more I came to appreciate the fine craftsmanship of luxury handbags. Yes, the prices for these bags are pretty high but why is there so much drama and judgment around luxury bags compared to expensive watches, cars and other luxury items that men carry?! If you ask me, watches and cars seem like bigger liabilities than luxury bags, but that’s a story for another day. Also… diamonds can be a depreciating asset so this girl will take a luxury bag over a bigger carat, thank you very much.
ANYways, you can’t talk about fine, top-of-the-line craftsmanship without Hermes because they are the ONLY luxury brand out there where ONE SINGLE artisan works on each bag from start to finish (handmade)… It takes anywhere from 18–24 hours and sometimes up to 48 hours.
In fact, I love seeing these videos of artisans making these Hermes bags and truly appreciate all the work that goes into it.
I used to see it as something that was just so utterly inaccessible to most of us. Then, once I started to learn more, I realized there is more than one way to get your hands on THE BAG besides dealing with the whole boutique sing and dance routine (learn more about how Hermes created a brand of exclusivity and what crazy “tips/tactics” people have used to buy their bags). In fact, the Hermes secondhand market is massive. I totally understand people who want that ultimate boutique experience, BUT as a super Type A person, I knew I had to buy a bag that has ALL the details that I want exactly and not wait to be “offered” something else that I would not want. Don’t get me wrong, I still love going to the boutique, seeing all the eye candies and walking out with some goodies in that beautiful orange shopping bag ;)
I initially wanted to start my Hermes collection with a vintage Kelly bag, but I thought I might get more use out of the Birkin since it’s a tote so I can use it as a work bag.
Now, let’s be honest. It is NOT cheap. In fact, it is expensive… offensively expensive in some cases, but good things never come easy now, do they! But the cost and value are two different things, and there are ways to save up for what you want.
Here’s how I started my “Birkin Journey” and my top 3 tips to save up for your Holy Grail Bag (remember, it doesn’t have to be a Birkin. Your Holy Grail Bag is THE BAG that is at the top of your wishlist!):
TIP #1: Create a Savings Account and name it your “Hermes Birkin Fund” or “Luxury Fund” or “INSERT NAME OF YOUR HOLY GRAIL BAG HERE Fund”
The very first thing to do is to get super serious about your goal and create your own savings account dedicated to THE Birkin Fund, which is what I did. Since I planned on saving for little less than a year until I buy the bag, it didn’t make sense to put it in an investment account, but rather an easily accessible savings account.
First, do the research and see how much you need to save to buy your bag either via the boutique, personal shopper or via consignment stores. Next, figure out the timeline as to when you want to purchase it. Is it for a special occasion? Is it 12 months? 24 months? Or much longer? Then, you want to figure out your monthly budget and set up automatic savings for the amount that you are able to deposit each month and see how long it will take for you to meet your goal.
TIP #2: Forget all other shopping trips for a long, long time. NO SPEND weeks, months, a year…
You have to make sacrifices for your Holy Grail Bag. That is simply the truth. HOW? I basically cut ALL other shopping expenses for several months to prioritize my spending and put everything in my Hermes Birkin FUND. It’s much harder than you would expect. It is hard when your lovely SA from Chanel sends you pictures of some amazing accessories and scarves you’ve been eying from the new collection. I always had to remind myself that not spending that $500 on the scarf would mean I would be one step closer to meeting my goal to buy the Birkin bag.
It is even harder when you want to celebrate special occasions such as your birthday, your promotion, wedding anniversary or whatever it may be. Rather than spending $ on a small gift, put that money in your Birkin Fund. During my journey, I had my birthday, Mother’s Day, our wedding anniversary and many special occasions to celebrate, and each time, I contributed to the Birkin Fund rather than buying or accepting other gifts.
Keep reminding yourself why cutting out these other shopping trips and expenses is important for you to achieve your big (luxury) goal!
TIP #3: Don’t forget your financial priorities. ONLY do this if you have extra money to spare after all of your financial responsibilities are met.
Now this is quite important. DO NOT listen to tips #1 and #2 if you are in debt or if you have other priorities. Luxury is luxury, which means it is NOT a necessity and something you can technically live without in life. Buying a big item like this means you are left with extra money after you pay all your bills, put money towards your future (savings, investment accounts, emergency funds, kids’ college fund, etc) and take care of your family and all financial obligations. DO NOT go into debt saving for a designer bag. JUST DON’T. Get your priorities straight. If all you can save is $50/month, make sure to extend your timeline. These bags are not going anywhere. Even if it takes years, it will be that much worth it BECAUSE you budgeted and saved for it!
BONUS TIP: Ignore all the naysayers who tell you how to spend your money. Finance is very personal. Some choose to buy expensive cars or watches and others like myself choose to collect designer bags. You do YOU and do not get down by others’ “judgment” or comments about how you should be spending money. Besides, these luxury bags do appreciate in value over the years so you are essentially buying appreciating assets if you stay in the Holy Trinity of Bags category: Hermes, Chanel and Louis Vuittion. Besides, by following these tips above, you are responsibly earning your way towards your Holy Grail Bag so take THAT, haters!
This is my own experience and how I approached this. Hope these tips help you on your journey. HAPPY SHOPPING!
Stay tuned for my next article: WHY I bought my Birkin in the secondhand market vs brand new in the boutique
