INVEST IN CLASSIC BRAND AND STYLES
Abbey explained that it is important to do your research before buying a luxury handbag, because how the price fluctuates depends on the brand.
Chanel’s classic flag bag currently retails for around £ 3,420, Louis Vuitton Neverfull Totes is available for £ 3,420, while a pre-owned Birkin bag costs over £ 21,491.
Abbey said, “For example, the Hermes Birkin Bag, the Chanel Classic Flap Bag and the Louis Vuitton Neverfull Tote have been proven to increase in value over time.
But in general, any classic bag in a fantastic condition becomes the most valuable. These bags are made of high quality materials that are long lasting, durable and reliable and if they contain these original materials they are worth more. ‘
Abbey has revealed that black, white and neutral colors retain their value rather than colored handbags because they are less dependent on trends and can be paired with more outfits.
The main factors to consider when buying a designer handbag to make future gains include investing in classic models. Pictured: Hermès used Birkin 35 handbag on sale at FarFetch for £ 21,491
IF YOU DO NOT GO FOR A CLASSIC, ALWAYS CHOOSE QUALITY
While there is much more demand for older, more classic bags, newer bags from top designers are likely to grow in value faster due to the demand and people looking to renew their wardrobe.
Even when it comes to handbags, owners will have newer models faster or use them less so that they are in better shape than classic bags, which will be stored longer and used more, making them easier to sell, and for more money than what was paid for them.
Watch out for limited edition and bags that come back in fashion
The Dior saddle bag is back in fashion and has sold from almost unsaleable to over £ 1,000
“It is always worth investing in limited edition handbags, because they increase the most in value and faster due to demand,” explains Abbey.
Brands like Louis Vuitton are ideal for limited editions, so there is a constant demand for the style, meaning profit is guaranteed.
Charlotte Staerck, co-founder and director of Handbag Clinic, added that while buying the latest fashion rather than classic style is a risk, you might be in luck if it comes back into vogue.
“Trend bags will always have their place and you never know which one will take off,” she said.
The Dior saddle bag is a perfect example of this, because after the reintroduction of their saddle bag to their Dior fall 2018 show, the look and style exploded back onto the market and their value increased.
They went from completely unsaleable, possibly around £ 300, to sales for £ 1,000 plus.
HOW TO MAINTAIN
Abbey revealed that the luxury dust bags with dust bag are important not only for keeping the items, but also for proving their authenticity.
She gave maintenance advice and said, “Always keep it in a dust bag and away from a dusty or damp place. So I recommend putting them on shelves instead of tucking them in the back of a wardrobe. Keeping the original dust bag also helps with resale to prove its authenticity and to show that the bag has been properly cared for.
Do not touch them after applying lotion, hand cream or washing hands as this will cause stains and stains. And if you do mark it, clean it immediately.
Protect the interior. Use plastic bags and do not leave loose makeup products or perfumes in the bag and never store food or drinks in it. If you must, always store it in plastic bags.
Invest in good cleaning products, because you don’t ruin the bag or its appearance. And if you can, get it cleaned professionally and if it gets damaged, get it repaired professionally, ideally directly through the brand. If you repair it yourself, or somewhere that is not qualified, your bag will lose value. ‘
She continued: ‘How they are cared for is so important and also bags with the original materials, such as dust bags as mentioned above. Once replaced, the value can decrease which is why it’s so important to get it done professionally.
WHEN TO SELL
“It’s important to understand the market, because designer bags sell more when they’re popular the moment you want to sell,” explains Abbey.
In the autumn there is more demand for large and classic designer handbags.
Meanwhile, smaller bags that are lighter and well-colored often sell better in the summer because they can be more stylish and versatile with clothes.
The best time of year to sell a designer handbag depends on the size and color, but you should buy between December and March as designers like Chanel raise their prices during the spring. Pictured: Chanel’s £ 3,420 valve bag Shiny Lambskin & Gold-Tone Metal Navy Blue