Why Luxury Handbags Might Actually Be Good for Your Wallet
Luxury dreams are made for us all — you might fancy a stay at a crazy luxury hotel, to live like a page from the Kardashian gift guide or to coat your nails in Christian Louboutin nail polish. Well, according to new data, there might be cold, hard economic gains to be had when investing in luxury goods.
According to a study posted on Luxury Daily, there might be some hidden value in your luxury handbag, specifically if you’re lucky enough to have a coveted Hermes Birkin bag. The value of this particular swoon-worthy bag has gone up a whopping 500% in the last 35 years, which is more than stocks and gold can say.
Despite the lack of confidence in shopping during the recession, the value of goods from brands such as Hermes, Dior, Chanel and their cohorts has steadily increased. The key difference, however, is that the ultra-luxury goods (read: everything on your Pinterest boards) are the ones that are economic Teflon. Regular luxury goods — those that don’t come with a years-long waiting list, for example — fare worse in a downturned economy.
But while stocks have generally given an 8% annual increase, the Birkin in particular has gone up in value by an annual 14.2%. Based on this, the analysis concluded that when compared to gold and stocks, luxury goods such as Birkins are steady, solid investments and a good place to park your money. Just be sure to keep it in mint condition — all those dings and stains from, you know, real life, will bring the value down!
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(Photos via Getty)