If the snaking queue at Chanel and Louis Vuitton during the year-end bonus period is anything to go buy, we daresay that more Singaporean women are going for branded bags. Toting a Chanel bag might be a huge deal in the past, but nowadays, you can spot at least one person toting a 2.55 or a Grand Shopping Tote on the train after work.
Buying a designer bag is not necessarily a waste of money – it can be an investment.
Yes, you heard that right. Some designer handbags can actually end up accruing in value and being sold for more than they were bought for years down the road. It might sound like a fantasy for any handbag addict to imagine that she can buy all the handbags she wants and STILL find herself sitting on a goldmine later on in life.
But before you grab your credit card and rush to Chanel, here’s the caveat: the vast majority of designer bag purchases not only do not qualify as investments, they rapidly actually lose their value once you step out of the boutique, much like Lamborghinis. In other words, they might make you look rich, but they’ve actually just made you lose a ton of money.
If you’re concerned about the resale value of your bag, know that there just a few very rare situations in which the bag might actually prove to be an investment rather than a heap of tired, out-of-fashion leather. Still, those who are stubborn enough to go ahead should take note of the following.
Text: Joanne Poh
The post Can Designer Handbags Ever Be an Investment? appeared first on the MoneySmart.sg blog.
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For more fashion articles, read Alexander Wang Used A Vicious Meme To Throw Shade At Designer and Kylie Jenner Is Accused Of Plagiarism. Again.