Luxury Bags Are The New Retirement Fund (At Least According to Bag Snob)

 

After graduating from USC in the nineties, I dabbled in finance—day trading, to be exact—while working as a VJ in Asia, and became obsessed with finding that surefire blue chip stock to keep in my portfolio until I retired. Thinking I had finally found the one, I emptied all my savings into it, but then, when the stocks plummeted, got scared and sold low. (If there is anything I learned from my business degree, it was to buy low and sell high.) Clearly stocks were not the investment of choice for me; I lacked the guts of steel to weather the daily ups and downs. Luckily, however, I had another obsession: Luxury bags. Hermès bags, specifically.

I remember saving and saving to purchase a green Kelly bag right before my blue chip stock fiasco. I thought to myself, “Self, it’s time to stop buying multiple trendy bags and start acting like a grown up,” closed my eyes, and handed over my Amex to the tune of $3,600. Little did I know it was to be the single best investment I’d make in my life up to that point. What is that Kelly bag worth now, you might ask? Well, it currently retails for over $8,000 at an Hermès boutique, and for at least 20% more than retail in the re-sale market. (Yes, even a vintage or used Kelly is worth that much!) My next Hermès purchase was a black Birkin that cost around $4,400—a bag I can now sell for, at the very least, the retail price of $9,000. I realized about five years ago I’d stumbled upon my retirement fund when Hermès and Chanel bag prices rocketed in both the retail and re-sale markets, and have never looked back.

Moral of the story? If you are looking to invest in a Hermès or CHANEL bag, and see one you love, buy it. Immediately.

(Shop vintage luxury bags here.)

Bags, bags and more bags:
* A handbag wardrobe for NYC Fashion Week.
* CHANEL love.
* What bags to buy, for when.

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