Recently, I’ve been preparing for a major purchase (new home) but have been thinking of other ways that I could invest my savings. Investing in a way that I could benefit from immediately, then potentially sell for a profit or close to my initial investment, would be ideal.
I’m always thinking of ways to make my money work for me so I’m sharing some of my favorite designer pieces that are decently priced that I’ll invest in.
1. Chanel, 2.55 Flap Bag- this bag retails for approximately $5,000. It’s safe to buy classic styles because they stand the test of time. Chanel bags are one of the top bags that hold value. Depending on the size, the style and the scarcity of the bag you can expect to receive a high return on your investment. Tradsey states, “Chanel’s classic 2.55 retains at least 85% of its retail value, and if the bag in great condition or has a special skin, it can sell for more than retail.”
2. Hermès, Birkin or Kelley- these bags are a little more pricey than the Chanel 2.55 Flap Bag, they retail for $11,900 and $7,300 respectively. These bags are the kings of all designer bags, the ultimate purchase. If you have the funds to buy or “invest” in these I’m sure you’re not looking for a resell payday anytime soon. Hermès bags can hold their resell retention value up to 70%. For rare leathers and limited color combinations, Hermès sellers can earn an average of 1.3x the retail price.
3. Cartier, Love Bracelet – approximately $4,000. Harpers Bazaar notes “these classic adornments hold their value based on the fact that they’re made by an elite, world renowned jewelry company.” You’ll find a pre-owned Love Bracelet selling for just under the retail price. Unlike purses, clothes and shoes jewelry can withstand a little more wear and yield a decent return.
4. Louis Vuitton Neverfull Bag/ Goyard St. Louis Tote ranging from $1,200-$2,000 retail for both designers. I put these two bags together because they’re both well known designer bags- when you see the signature print you know the designer immediately. Although the Goyard bag sells quicker and typically for a higher amount than the classic Neverfull bag the return on a gently used Neverfull bag is worth mentioning. Sellers can earn over 70% of the average retail value.
For Goyard, sellers earn on average 1.3x the retail price and resellers experience fast resell turnaround time. “Goyard bags typically sell in less than five days. This brand sells faster than any other designer bag brand on Tradesy,” a trend you’ll want to pay attention to as scarcity yields higher returns.
5. Rolex, Submariner- $7,500. These famed timepieces have maintained their position at the top according to The Jewellery Editor because Rolex was the first brand to develop a water-resistant case and they’re second to none in terms of quality, claims Harpers Bazaar. The watches are great investment pieces because they hold their value and the resell market favors them.
Bonus- Pay attention to limited edition releases from timeless luxury brands. The scarcity of the items prove to be great pieces to hold on to and to resell.