Handbags

How to sell an investment handbag

 in Handbags  tagged consignment shops / vintage shopping by

Chanel Boy Bag styled for summer.

Pictured: Chanel Boy Bag. Similar Boy Bags available for resale here and here.

Is your closet overfilling? Do you have expensive handbags collecting dust? Did you buy one too many classic black shoulder bags by Chanel? Don’t worry, there is an easy solution to for turning investments handbags into cash.

You can sell pretty much any designer handbag you would like to turn into cash. Most designer handbags will sell for less than you originally paid for them, but for a coveted few, investment bags, you can actually make money when you sell.

Depending on whether or not a handbag offers a classic style, or trendy style, will dictate how much you can sell the handbag for on the secondary market. I will not give you numbers, because how much a handbag is worth can change on a daily basis; much like the stock market.

If you do not care how much you sell your handbag for, then just go ahead and sell it now; according to my tips further down in this article. If you would like to sell your handbag, or handbags, for top dollar, it takes a little planning.

First off: is your handbag an investment handbag or a designer handbag? If your handbag is an investment handbag, such as an Hermes Birkin or Chanel 2.55, and it is in good condition, then chances are you can sell your handbag for more than you paid for it, any time of the year. If your handbag is designer, not investment, then you need to pay attention to the current trends.

Is your designer handbag burgundy suede; or other seasonal hue and fabrication? Then your handbag will scream the season it hails from. It should be sold during the appropriate selling season. When you start to see the season that it is, hit the stores, it is time to sell your handbag. Pay attention to the seasons when selling seasonal handbag.

Is your designer handbag classic black, white, beige, or red? Then you can sell at any time of the year. Be cautious with navy; dark navy sells better in the fall and winter seasons, while light navy sells well in spring and summer.

How do you price your handbag? This is the question of the year. Look at resale websites such as Vestaire Collection and The Real Real. You can see what your handbag is currently selling for, and if it is worth it to sell. This will give you an idea of how much your handbag is worth in the secondary market.

What condition is your handbag in? This is very important when pricing your handbag, and realizing whether or not it has resale value. Look at your bag. Would you buy it if it was sitting on a store shelf? Does it have visible damage? Visible repairs? Has the color faded? Are the corners worn? Are there scratches? These will all affect the value of your bag, and whether or not you can resell it.

Where do you sell your handbag? There are several ways to sell a designer or investment handbag. Consignment shops, online consignment shops, brick and mortar auction houses, online auction houses, and peer-to-peer apps.

You can go the traditional route and walk into your local consignment store, get a quote, sign a contract, and leave the bag to be sold; but this will not yield the highest payback for your handbag.

If you like the consignment idea, but would prefer to reach a larger audience than your hometown, there are online consignment shops which have a national or global reach. Look at online consignment shops such as The Real Real, Vestaire Collective, and Fashionphile.

Not interested in splitting the profits with a consignment shop? You can take a risk and sell your handbag on an online auction site. I say risk because there are so many inauthentic bags on online auction sites, your handbag could be mistaken for one by uninformed shoppers. The other thing to watch out for are the buyers. There are scam buyers who will buy your bag, receive it, claim it isn’t real, demand a refund from PayPal, and leave you both bagless and penniless. So if you sell online with an auction house, make sure the buyer is trustworthy. Be wary of new  buyers without a buying record or feedback.

You can also sell your handbag yourself through peer-to-peer apps such as Poshmark. You pay a small fee, and keep most of the profit for yourself. They are safer than online auction houses, and have a quick turnaround time.

If you know of more ways to sell designer and investment handbags, please feel free to leave them in the comments below! Every idea helps!

Thanks for stopping buy,

xoxo

Cathy

Are handbags really an investment?

 in Handbags / Shopping  tagged celine / chanel / classic style / hermes / louis vuitton / shoulder bags by

Are expensive handbags a good investment

Handbags from top left: Chanel Boy Bag (risky, new asset-may or may not mature over time) / Chanel classic flap bag (blue chip handbag investment, should mature slowly over time) / Chanel 2.55 shoulder bag (blue chip handbag investment, should mature slowly over time) / Mansur Gavriel drawstring bag (current IT bag selling over list price in the secondary market, good for day trading and short term investing)

Have you ever looked at a premium, luxury handbag and wondered if it was worth the money? Have you heard your friends, or acquaintances, talk about what a great investment a recent handbag purchase had been? You are not alone.

With the IT bag trend around the globe encompassing handbags which cost north of $1000; sometimes way more, it is no wonder that handbags can be considered an investment. Let’s look at the Hermes Birkin as an example:

An Hermes Birkin is considered the ultimate IT bag. This beautiful tote is also considered by many handbag lovers to be the “Holy Grail” handbag. This means many handbag fans goal in life is to own an Hermes Birkin. Crazy you say? Perhaps, and perhaps not. . .

The Hermes Birkin will set you back around $20,000; or more. This is not a small amount of money. If you had $20,000 sitting in your checking account begging to be spent, how would you spend it?

$20,000 can be spent on many things. Let’s review how this sum could be used in a practical sense. You could buy growth and income stocks for your future retirement. You could remodel your master bathroom. You could install new hardwood floors in your home. These are all options which would result in increased savings or home equity; true investments.

What are some other ways you could spend $20,000? You could buy an inexpensive car. Of course cars depreciate in value, so you can say “bye-bye” to that $20,000. Or you could go on a shopping spree at your favorite store, such as Neiman Marcus, and spend it on seasonal, trendy, luxury goods. Two ways to watch that money fade away into a small memory.

Then there is the fun way to invest $20,000; an Hermes Birkin. Let’s talk for a minute about why it is considered an investment. The Hermes Birkin has IT bag status ten times over. It never fades out of style and can be worn both casually and for the office; and there’s more. . .

The Hermes Birkin offers superior quality over other handbags. It is handmade and sturdy; it can take a beating, and still look fabulous. So what makes it an investment money-wise?

There are very few specific handbags which increase in value over time. The Hermes Birkin has the most re-sale value of any IT bag. Not only does the Hermes Birkin hold it’s original purchase value, it increases over time as long as it is maintained properly; much like your home.

If you purchased an Hermes Birkin ten years ago for $10,000 and kept it in good condition, it could easily fetch you $15,000 or more right now. Of course, good stocks, and a home remodel, may fetch you more of an increase than a handbag; but at least it doesn’t depreciate in value like a car.

Of course, most people do not have $20,000 to invest in an Hermes Birkin; I know I don’t! So if you want to spend your money wisely when it comes to handbag shopping, there are other investment options.

Besides Hermes, Chanel is the next best thing to an investment purchase. Chanel’s iconic 2.55 shoulder bag, and classic flap bag, increase in value over time. They do not increase as much as Hermes, but they still go up in value. That my friends, is an investment.

Other designers to lean towards if you would like to watch your handbag hold its’ value, and increase in value over time, include Louis Vuitton and Celine.

Of course, just because a designer has a reputation of creating investment handbags, does not mean every bag will increase over time. As with any stock, bond, real estate, or investment in general, there is a risk involved.

The designer or brand could have some really bad press and suddenly loses it’s appeal. The quality could go down and the general public loses faith in the brand. Or, what had once been considered a classic handbag style for forty years, could suddenly become outdated. The horror!

So how do you find a fairly safe investment handbag when shopping? Well, stick to the basics. For Hermes, look for the Birkin or Kelly. The other styles do not hold their resale value as well. For Chanel, stick with the 2.55 or classic flap shoulder bag. The seasonal styles can become “so last year” in a heartbeat. The Boy Bag is still too new to assess.

When it comes to Louis Vuitton, stick to the classic, tried and true styles such as the Alma or Speedy. If the handbags are seasonal, or just appeared on the runway, they are not an investment.When it comes to Celine, look for solid colored bags; stay away from the color blocking. That is a trend.

Remember, part of the investment is wearing the handbag and getting a ton of use out of it. Do not buy handbags just to make your cash grow. If you want your cash to grow, buy some good stocks or real estate. If you want something to use often, and to prevent you from buying or needing other bags, then this is a sound investment in your future handbag style.

So now you have your investment bag and you have decided you need to cash it in. How do you turn handbags into cash? What do you do? Stay tuned as I discuss this next week!

Resale investment handbags around the web:

Chanel 2.55 shoulder bag:

Chanel classic flap shoulder bag:

Chanel Boy Bag:

Hermes Birkin:

Mansur Gavriel:

Boxy handbags for fall 2015

 in General Fashion / Handbags / Trends  tagged fall 2015 / office attire / runway trends / satchels / shoulder bags / street style trends / winter 2016 by

boxy satchels for fall 2015

 

Pictured from top left: black box bag (under $300!)/ lips box bag / green box bag / burgundy boxy satchel / black boxy satchel / pink bag inside a black boxy satchel

Fall 2015 has an answer to those who are not really into the bucket bag trend; the boxy satchel trend. Box bags and boxy satchels are a hot trend for the fall 2015 season. They are the alter ego to the relaxed, slouchy, drawstring bag trend which has reigned supreme over the past few seasons. 

While a drawstring bucket bag looks fabulous with a casual ensemble on Saturday afternoon, it does not compliment a structured look during the week, when dressed for the office, the theater, or dinner. Fall 2015 has brought us the perfect answer to this handbag dilemma; the boxy satchel.

Box-like bags for fall 2015 are being shown in two distinct forms; the medium satchel, and the small boxy bag.

Medium boxy satchels, in rectangular and square forms, are ideal for the office, and daytime events. They have a wide width, allowing them to be stuffed to the brim with everything plus the kitchen sink. Boxy satchels offer two top handles, a roomy interior, oftentimes they offer multiple sections, and a neat, structured look for structured attire. Love that!

Fall 2015’s box bags are smaller in stature than their boxy satchels sisters, and beg to be carried to fundraisers, dinners, and more formal affairs. Box bags can be found in small, or mini sizes, in both casual, and formal forms. These smaller box bags tend to offer one top handle, and sometimes will feature a detachable shoulder strap. They can be found in one color, bi-color, decorated with kitschy words or pictures, or embellished with jewels, beadwork, and more! The embellished versions are like boho-chic meets uptown flair. Love it!

Boxy satchels and box bags offer a vintage vibe for fall 2015, reminiscent of the 1950’s and 1960’s. They transcend decades when paired with this season’s 1970’s styles, or an a-line miniskirt or flippy skirt.

What do you think of this emerging trend in handbags? Will you seek one out to use as your alternative this fall to your beloved bucket bag?

Box bags and boxy satchels for fall 2015: