You better get on that waiting list ASAP
You know you’ve hit dire financial times when designer handbags are better investments than the stock market or solid gold. Yep, Carrie Bradshaw was onto something with the whole ‘I like my money right where I can see it… hanging in my closet’ thing.
In today’s latest financial fashion news (yes it’s a thing), it turns out it’s not just the Chanel 2.55 you should be investing in, it’s the Hermès Birkin bag too.
According to a new survey by BagHunter, the iconic bag’s value has consistently increased over the past 35 years, outperforming both the S&P 500 stock market and the price of gold.
Since 1981, the Birkin has increased in value by an average of 14.2 percent each year (with a pic of 25% in 2001), versus 11.66% for the S&P 500 and just 1.9% for gold.
It has never experienced a dip in value, while the same can’t be said for other types of investment. So why the big fuss?
Well, it’s no doubt to do with its iconic status. Ever since it was created in 1981 for Jane Birkin (after the actress sat next to the CEO on a plane and complained she couldn’t find the perfect weekend bag FYI), it has constantly been in demand.
Waiting lists for new designs can go up to six years, and even the super rich and famous can’t always jump the queue - as anyone who has seen that SATC episode where Samantha struggles to get her hands on will know.
You’ll have to dig deep if you want to invest, as the ‘cheapest’ bag costs around £9,000, and the more premium designs are more than £250,000. You have to spend money to make money as they say…
If you’re not willing to play the long game, you can try online vintage stores for previous designs, though you’ll have to be quick as they sell out fast.
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Penny Goldstone is the Digital Fashion Editor at Marie Claire, covering everything from catwalk trends to royal fashion and the latest high street and Instagram must-haves.
Penny grew up in France and studied languages and law at the Sorbonne Nouvelle University in Paris before moving to the UK for her MA in multimedia journalism at Bournemouth University. She moved to the UK permanently and has never looked back (though she does go back regularly to stock up on cheese and wine).
Although she's always loved fashion - she used to create scrapbooks of her favourite trends and looks, including Sienna Miller and Kate Moss' boho phase - her first job was at MoneySavingExpert.com, sourcing the best deals for everything from restaurants to designer sales.
However she quit after two years to follow her true passion, fashion journalism, and after many years of internships and freelance stints at magazines including Red, Cosmopolitan, Stylist and Good Housekeeping, landed her dream job as the Digital Fashion Editor at Marie Claire UK.
Her favourite part of the job is discovering new brands and meeting designers, and travelling the world to attend events and fashion shows. Seeing her first Chanel runway IRL at Paris Fashion Week was a true pinch-me moment.
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