Why I’d Rather Spend More on Designer Handbags
Why I buy designer bags, in essence…
What is the first thing you notice about a woman? Some say it’s their hair. Others say it’s their shoes. For me, the very first thing I look at is her handbag. Sometimes I look at the shoes after I see something fabulous to appreciate their taste. My eyes immediately go to their bags because I’m a handbag connoisseur, addict, whatever you would like to call it.
Now, I look at women’s bags because I love to see how they carry their bags and what message they want to share with the world. I know it sounds crazy but for me, a handbag is not just a bag that carries my essentials, it’s an expression of myself, my way of appreciating the craftsmanship of certain brands and styles and also my alternative investment. Yep, you heard that correctly. I collect handbags and see them as alternative investments. (for more on this topic, check out my other blog post “Can Your Next Chanel Bag Make You Money”, which thousands of you have read and sent such lovely messages!)
I can’t speak for others as everyone has their own reasons for wanting, buying and carrying designer bags but for me, it’s for my own happiness and not for anyone else. I have deep appreciation for certain heritage brands that really focus on their craftsmanship and designs that are not only classic but whose quality will also last forever.
If you think a woman merely buys and carries designer bags to “show off” or “look rich”, you are terribly mistaken. Granted, some may do it just for those reasons, but for most of the handbag lovers I’ve met, it is far from the truth. In fact, we know that collecting and buying certain brands will be great long-term investments. Rather than buying several inexpensive bags, it’s much more sensible to buy one classic, designer handbag that will last you years, even decades to come. In fact, most luxury handbag lovers say the long-term cost per wear makes these bags a smart purchase.
Here’s why I buy designer bags and why I would rather save and spend more on brands such as Chanel (and one day, Hermes… oh yes, I am saving for THE HOLY GRAIL of all bags).
REASON #1 You can carry your bags for years and end up selling for the same amount you paid AND possibly make extra money
Have you looked at Fashionphile, Yoogi’s Closet or Rebag lately? Check out classic Chanel flap bags from 10 years ago. They were not nearly as expensive as they are now, but they are selling for close to what it retails today. So what does that mean if you bought it back then and want to sell it now? After loving it and enjoying it for 10 years, you are not only getting your money back but also making extra money. Essentially, your bag was one heck of a great investment. You can now put that extra money into a new bag you can enjoy. And what about that cost per wear?! If you’ve been sporting your Chanel bag for 10 years, your cost per wear is likely MUCH LESS than a trendy bag you bought that you only wore for one season.
REASON #2: With annual, sometimes bi-annual price increases, and the ever increasing demand, the resale value is second to none.
I know that there are other fabulous brands such as YSL, Prada, Valentino, Celine, Givenchy, to name a few, that make beautiful bags that are half the price or a fraction of what Chanel and Hermes bags cost. If you like these brands and have no plan to resell, then by all means go for it. BUT I can tell you from my experience that I will end up “losing” money in the long run buying these bags.
Let’s say I spend $2000 on a beautiful Prada or Givenchy bag. And I wear it for a few years, assuming they aren’t super trendy bags. If I wanted to sell these, they will likely lose 60–70% of its value and would sell for a small fraction of what I paid for them. Most of the premium brands that sell bags under the $2000 price range typically have terrible resale value and these bags disappear in 3–5 years.
On the contrary, Chanel, Hermes and LV always have their classic bags year after year. The price point might be much higher, particularly for Chanel and Hermes, but you can wear it for 10+ years, even decades. In the end, the cost per wear is much lower AND the resale value has increased every year you’ve owned them.
While you may think you are saving money by buying these other brands at a cheaper price, in the long run, your return on “investment” is higher.
REASON #3: Classics = Collectible Items for Life and Always Remain in Style
There’s a reason that a Hermes Birkin that was officially “born” and brought into the market in 1984 is still highly desirable and fetches tens or even hundreds of thousands in the market. The brand power remains strong and the bag shape and design are simply timeless. Yes, dropping a starting amount of $10K can be excessive, BUT a Birkin will always be in demand. In fact, if you look at the resale market, these bags are being sold for more than the retail price.
The same for Chanel classic flap bags. These bags are iconic. Sure, 2.55 was born in 1955 and the classic flap wasn’t technically born until the 80s, but the overall look and design have been around for decades… way before most of us were even born!
I always say, don’t be a trend follower but be a classic. Trendy bags might seem “cheaper” and “cool” at the moment, but if you can fight the temptation and save up for one of these classic bags, I guarantee you will use them for many years, even generations to come.
BONUS: Fashionphile recently released a report in honor of Earth Day that showed that buying luxury handbags means these bags are 200% less likely to end up in landfills and that people are buying less but better quality. In fact, many luxury shoppers spend more time looking after their bags, making sure they last a long time in their collection. High fashion + sustainability? YES, please!
These are just some of the top reasons why I would skip trendy pieces and “invest” in designer handbags. By the way, these luxury items are simply that: luxury; which means they are the things that you buy only AFTER you take care of all your main finances such as mortgage, bills, savings, investments, etc. Once you’ve allocated all your earnings into these buckets accordingly and you can afford to put a little extra into your “fun” or “luxury fund”, that’s when you should think about buying these.
Cheers to all the handbag lovers out there! Happy shopping!
