Can we talk about how good taste can make you rich?
I know you’re wondering what a post about luxury is doing on my blog but hear me out real quick. I was scrolling through instagram when I saw a post about why you should not buy an Hermes Birkin bag and all I could think was if you can afford to or save up to buy one, you should – Its a great investment.
Contrary to what you might think, I’m not opposed to luxury fashion, I think its great and support your decision if you know which items to put your money into. Fashion is more than just looking good or having great taste. It is the best and safest way to secure your bag (See what I did there?). Yes! I said it, I stand behind this and I can bet money on this (I’M NOT EVEN A BETTING WOMAN)
So with much hesitation, here are 5 luxury items you should totally invest in or save up to invest in.
- The Birkin Bag:
This isn’t just a bag, It’s a great way to secure some money long term. A recent study by baghunters concluded that a birkin bag is a better investment than stocks or even gold! This beauty had outperformed both markets over the past 35 years and has steadily achieved 14.5% of consistent growth. I don’t have to tell you that stocks and the gold market is a up/down situation and go into details of it. You get the gist
2. Chanel Jumbo Classic
Looking for the BEST way to save money? I give you this classic chanel bag. I don’t know what is it but investors love designer bags and this happens to be their favourite bag! The value of this bag has increased by about 70% in over 5 years and shows no sign of slowing down soon. Comparing its retail price of $1,795 in 2006 to its $5,000+ value now, you understand why its worth buying and tucking away for a few years and then reselling
3. Cartier Love Bracelet
Who knew something so little could do so much. This Iconic piece has just almost doubled in the past decade. Retailing at around $6,000. Its a piece that your future self will thank you for.
4. Christian Dior Cocktail Dress
Getting ANY haute couture cocktail dress from Christian dior, makes you a smart woman. You can easily flip this piece with a 100% profit. Its literally gold…better than gold!!!
5. Rolex Submariner Watch
I would not be a good friend if I don’t include something specifically for the boys to wear while they wait. This James Bond Classic has gone from about $2,500+ to over $6,000 in the past decade
There are many more fashionable financial investments on the market but these are some of the top buys. When you buy these pieces remember to take absolute great care of them, they are more likely to depreciate by your own personal doing as opposed to depreciation by time.
Want to figure out which pieces are great investments are which aren’t? Here are 3 tips that’ll work for you
- Keep it Classic – Classic pieces are always smart
- Think limited Edition – following the laws of demand and supply, this is a no-brainer. Also, they tend to be great vintage items when they gather enough “dust”
- Research – There’s nothing a little research wouldn’t help so be proactive.
Have you looked into fashion investment before? What fashion pieces would you like to invest in? Let’s discuss