"THEY'RE NOT INVESTMENTS" - Are we right to be buying these bags for financial gain?
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- Опубліковано 9 лют 2025
- Hey everyone! It’s not uncommon for me to see some comments saying “Designer handbags aren’t investments”
Social media does promote the notion that designer goods are ‘investments’, but are they investments in the sense that you’ll only ever need to buy one. Or, are they financial investments?
My thoughts are that yes, SOME designer bags are financial investments. It’s well known that Hermes are the top of the game when it comes to true returns on investment (breaking-even or making a profit).
From my personal experience, Chanel is too.
But, what about those other bags often spoken about as being financial investments? Gucci, Louis Vuitton, Dior? Are they REALLY bags you can get your money back on? Or are you better sticking to property, stocks, bonds, gold etc?
Let me know what you think!
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Hey everyone! It’s not uncommon for me to see some comments saying “DESIGNER BAGS AREN’T INVESTMENTS”
The promotion on social media of items being ‘investment’ is pretty widespread, is it true though? IMO, there are only a few brands that are true financial investments - those are CHANEL & HERMES.
I have seen profits being made from new seasonal bags that sold-out before they hit the shelves, being flipped for profit on consignment sites.
Anyone remember in 2018, the Dior Book Tote being sold on consignment sites for MORE than the RRP, because they were near impossible to get?
Then you have the bags that appreciate because they’re hard to get and the prices keep going up.
That said, there are also the traditional forms of long-term investment, such as property, gold, bonds, stocks etc.
What do you think? Have you made money from designer goods? I think they are great to have as assets for if you ever need to raise funds quickly, when your money might be tied-up elsewhere. Buy the right bag/brand, and they are undoubtably an asset that appreciates in value if you take care of it.
But I personally wouldn’t advocate you sink your life savings into a bag collection and nothing else. Put it into other forms of investment too.
Please share your thoughts!!x
P.S. Lots of you ask me where to sell, I have sold on Vestiaire Collective (they charge 30% thought), ebay (their fees are high but less than VC, you can wait for a ‘no seller fees’ promotion), Depop (although they take 10% and PayPal take a further 7%). Vinted has caught my eye as they don’t charge so it’ll just be PayPal taking a cut)
I totally agree with you. I think people use the "investment" term to validate the cost of the bags. I buy bags if I love them...not to turn around and try to make a profit.
Hi, Sophie. Thank you for this video. I don't think bags are investments. I've sold 5 classic bags from Chanel and LV and lost some money with all of them mainly because I used Fashionphile's buyouts with huge fees. I put the money from Fashionphile in my investment account, and it's growing at an OK rate, so I can forgive the losses. Bags are hard to liquidate quickly at good prices consistently. Have a good day.
I'm seeing such an overstock of bags on so many resale sites now, I can't believe you would get a nice profit unless it is a huge demand bag or a classic bag. I can see people selling bags to make a quick buck if needed. As an investment, I'm on the side of probably not. I love all my bags, even the ones I don't wear. I just can't part with them.
My husband's hobby is video games, especially collecting vintage ones. The prices have gone up to insane levels just like luxury bags. He's definitely flipped stuff for profit but then you have to turn around and buy with the high prices. I'm so glad we bought our house when we did, prices are skyrocketing!
Sophie, you look so pretty in pink today! I adore that cardigan!
Sophie, can you do a review on fine jewelry comparing VCA Cartier Tiffany etc
Finally, we’re talking about something other than shopping!!! I personally like to buy and wear designer pieces that I can resell. HOWEVER, just like the other vehicles for investment (stocks, housing, crypto) it comes with homework and diligence. If you plan to resell your bag, you need to know how, and be willing to put in the work.
If you had put 10k into Apple 10yrs ago you’d have a lot more money in your bank account than in some handbag. I really resent people telling women to “invest” in bags. It’s irresponsible.
Unless you're a full time reseller, it's not an investment.
I couldn't agree more. These bags are so hyped-up and expensive. Some of these places don't even treat you nice if you don't "spend enough," look or dress a certain way. I don't know how they can continue to treat customers like that and get away with it.
Absolutely. Women in general have much less in savings than their male counterparts regardless of their career success. You are much better served becoming a savvy investor than a savvy shopper.
If you had put 10k into Yahoo 10 years ago, you'd be screwed. It's easy to talk about things on hindsight
@@annnon1509 🤣.
I don't think of my bags as investments. I buy things that give me that "I love that!!!" feeling in my heart and I wear them even if they aren't "in style".
i like that confidence!
Same here, I buy because I love these bags, clothes, shoes. Never thought I could make money, if I could sell for the same price I bought, will be big appreciated
💯
Recently, I invested in both stock and Crypto but currently I believe crypto is doing more better !!
I am the same.
I love Sophie because she is always speaking the truth. Some bags are 'investments' but not all of them. Great video Sophie!
Yes she speaks ‘the truth’ and flashes a masonic luciferian eye. Is there any single you tuber left that has not sold out to the illuminati?
@@hautecouture2228 Lol wot 😂
The best thing to do in this period is to invest in silver and crypto
@@hautecouture2228 smfh🙄🙄🙄
@@hautecouture2228 I never really saw eye to eye with Republicans but you all are giving them a bad name...and here....why here wtf????
I think of most of my bags as "investments in myself" - not all investments are for monetary gain. Even for clothes, I bought myself a Victoria Beckham dress to wear at the office; it's not an investment I can get my money out of but I feel confident and strong when I wear it, which means I do a better job at giving that presentation or speaking with a client. In that way, it's an indirect monetary investment as I do get raises/promotions/new jobs because of the confidence in myself that has come through my curated closet. Shoes are the same way. The only "investment" bag I'm considering at the moment is a vintage Chanel Diana for my 30th birthday, because I know it will last another 30 years with proper care.
This is SUCH a good point! Another lady in the comments has said the same thing and it's true. How something makes you feel is as important as financial gain (be that in the future or in the short term). Thank you so much for sharing my friend :) xx
I think meditation and therapy may be cheaper 😂
@@dva5610 unnecessarily judgmental. Perhaps take your own advice.
@@queengoblin it was a joke. Perhaps you should take mine :))
So true!
If I have the good fortune of owning a luxury handbag, you better know I’m going to use it, till death do we part ☺️
That's hilarious, the death do we part lol!!!!xxx
Not even death is parting me with my bags, they’re coming with me😭😂
😂😂😂😂
😂😂😂
Even after my death I want to be with my bag. Somebody better put that Birkin in my hand before they close the casket.
I used to think buying bags is a kind of investments but now I don’t anymore because it’s really hard selling a bag if you are not an “influencer” and need to go though a third party to get your item to sell and losing 20% or more of the proceeds.
💯
Good point
Exactly that. No one knows me or whether my bags are genuine. Vestiaire takes fees. Selling and shipping is somewhat stressful.
exactly well said 👏🏻
I'm tired of people claiming it's an "investment" lol. Just say that it's an expensive purchase.
for me, bag investment means getting the right 3 luxury bags like casual, night out and work bag so i don't need to buy different bags over and over.
I have been buying designer luxury bags for over 30 years. And none of it, is an investment. I buy it to enjoyed it. Always love your bluntness!
"Property is a long-term thing" Me looking at a neighbour who purchased for 1.5m and sold for 3m in 2 years -_-
Damn, please share the area!😅xx
@@SophieShohetOfficial some of the bigger properties in North Yorkshire in both city and countryside are going insane from London relocaters, but you have to know your postcodes xx for London I hear Richmond and Fulham might experience a huge come up but we'll see xo
Yes! AND with property it’s rarely an all cash buy so you get much more out than you put in if that makes sense
@@annaswanson5903 especially with an interest only mortgage if you really know your stuff
Investing is a stepping stone to success, investing is what create wealth.
Danggg this is the earliest I've ever made it to a video!!!!! And as for me, handbags are an investment in my happiness. If I save for a luxury item, be it a handbag, shoes, jewelry, etc, then I look forward to owning that item. The way I see it is, YOU are the most expensive but also the most precious investment. Invest in yourself, do whatever makes you happy. It does not always have to be about buying something expensive as an investment for the intent to sell it later.
Hello Christine! Wow, that's a really good point. You know, I know this is morbid(!) but I thought the other day that we're not down here for very long, so what's wrong with doing and buying what we love?! Thank you so much for sharing this valid point my friend!xxx
I think of my bags as memories, my husband has been spoiling me with Chanel on our anniversary and for other special occasions, so I always think of the day he gave it to me when I am adoring my collection ❤️
I think people use the terms ‘splurge’ and ‘investment’ interchangeably. A splurge is an expensive item you buy because you want it. An investment is meant to make you more money than what you paid for it, which means you have to sell it. Bags that don’t hold their value and bags you don’t intended to sell, are not investments.
When I hear people talk about wardrobe "investments" I don't take it literally as a financial gain. I interpret it as something that will add happiness in my life and something that will get a lot of wear and use and last a long time. Not a money maker.
I was teaching my fiance about the Birkin bags always sell for more than what you paid for them. He made a good point about how celebrities are probably just hoarding them.
What does celebrities "hoarding" them got to do with anything?
Franklin Bryan !! My friends trade with him,I heard his strategies are really good
@@gemmacotter89 because that creates an even more limited supply thus people are willing to pay more to get one even if it's "second-hand". they're already difficult to get by rich and celebrity standards.
Realistic advice. Not a youtuber who always "sells" and make us buy things when we don't need them. Of course, with social media and it's influence, people get easily swept up with what's been shown through it.
I think you made a great point distinguishing between investment in terms of long lasting vs financial gain. I am not at the point where I can bags solely for investment purposes due to social media influence, nor do I think I would ever. But if I have saved up and am between two bags that I absolutely love for personal reasons, then I think it can be a good idea to consider long term financial "gain!"
Bags to me are not investment. Ty for saying this ❤️❤️❤️
As a person that works in a bank for 16 years, there are a lot of investments (be careful with what you chose). A bag can also be but I don’t see them like that! I own a Gucci bag and I’m not gonna sell it. I’m wit an LV on my wishlist for years but it just keeps going up and up in price :( but this video is AMAZING!!!!
I don't approve of buying bags as an investment. That is not due to the practical reasons. Rather, it is a 'moral' thing.
Apart from that, bear in mind that if markets crash, if property, stocks and every other investment go down the loo and money tightens, then the 'value' of the designer stuff will also follow down the loo! People believe that crocodile Birkins are impervious to market fluctuations but that is so naive. Everything is susceptible in a crash!
Thank you for the video! It is really interesting to listen to.
Sophie I really like your common sense approach and honesty. I have a couple of designer bags that I bought to use because I love the style not the hype or supposed value around them.
I think that talking about “investment” instead of using the right terminology “expense” it is just an excuse for fashion’s lovers to justify the huge amount of money spent in luxury.
Some really great insights by Sophie. Buying lux items, handbags in particular, are something I only do with my "after" money. After all my other bills are paid, retirements funded, savings, then I can have fun and spend on something like this. I would never buy them thinking about what I can get for them in the future. If you can and do turn a profit, good for you. But no one should ever count on these sorts of things. The bottom can fall out of any market.
Hi Sophie! It’s definitely a gamble to think of a bag as an investment. You have to be intuitive as to which bags will increase in price over time or be must-haves that sell out. I have been pretty lucky with mine. I purchased a rare version of the LV V tote for about $2600, used it for a few months and realized it was too big for me. I was then able to sell it used for $3200 because it was still in demand. The demand fell after that so I timed it well.
Hi Sophie, you are the only blogger I listen to, because you give your honest opinion..... no hype!♥️
Here in Brazil bags are no investments AT ALL actually you buy things cheaper than the store even Hermes items, the reality is a little slice of our community can afford it so is a lot of offer and a few people to buy, but real state... Well this thing really grows here
Great video I'm over buying handbags right now. I don't think its a long term investment..most of these bags are just hyped up. I rather have a home and a good husband. Instead I'm looking at bags and my cat at night.
A good external mic in a room with good acoustics is the best investment.
Why don’t you do a clip on how these bags are manufactured ? Going back to the supply of the leather , the tanning process , and then the production ? That would be interesting
I think this is a great video. Bags should not be bought AS an investment, but rather something you like and can sell if needed. Two very different things. Plus, after tax and consignment fees, why would I wait 10 years to make 300? Way better to invest in the other things you mentioned--property, crypto, etc..
Another investment that a lot of people don’t consider often is collecting fine antiques. I’ve been in the antique business for a decade now and have seen vintage and antique items increase seven and eight fold just in this time.
I think you make some excellent points in your video! Thank you for your insights.
Although I can't speak from the perspective of buying/selling luxury goods, I am a long-time seller of antiques, collectibles and vintage items. There are certain truths that I believe apply to buying/selling any item for profit:
1) Any item is only worth what someone is willing to pay for it. Sometimes a profit can be made, but there is an element of luck in finding the right buyer who is willing to pay top dollar.
2) When it comes to purchasing any item as a long term investment, don't buy it "just" for the potential resale value. Whether it's a piece of artwork, furniture or a handbag, keep in mind that you will be living with that item for several years. You should buy it because you think it's beautiful and it brings you joy to have it in your home. That alone should make it worth the cost. The resale value should be a secondary consideration.
Agreed! that's very refreshing honest review on luxury handbags, excellent point on the short term vs. long term, and correct on UK property, it sounds like a good investment but the process is such a hassle and very costly, so in fact highly desirable designer goods especially handbags are very good short term investments. I also agree that do not buy it if you can't actually afford it and already thinking about selling it! always buy the bags you actually love and enjoy use, but take good care of it in case you want to sell it. I rarely sell my Chanel bags as I always buy the ones I truly love such as unique tweed and limited pieces. I personally think Chanel is the best investment as it's easiest to use and sell.
I love watching people spend thousands on bags as I will never be able to afford this and do not want to do this......they can so that’s great and I enjoy watching but I also think it’s crazy, crazy, crazy....love you Sophie you are so honest and real
Nice topic. Myself I have a Kelly, that bag has a value that will never go down, unless it gets damaged or something. Its not my only investment, I have money spread inc property. Sm does say lots of things are investment though, and only selected things actually are
Thanks for sharing! I know what you mean, a designer bag as an investment that will only appreciate is brilliant. But for sure, it pays to put your money into other things. Hugs xx
I really loved your honesty usual! I don't see my bags as an investment, but I like that if I came into financial difficulty one day I'd be able to sell them and make money quickly.
Great sharing Sophie! And I agree with you that bags are good investment if you know what to buy
I totally agree! It's about diversifying your investments and as long as you have a diverse portfolio its fine!
The thumbnail and title alone make me cackle. 😂 I love your no nonsense look at the world.
Hey Sophie I’ve been here For 4-5years now an you’ve Grown So Much! It’s amazing watching you to continue to grow! 💖 many blessing gorgeous ✨🙏🏾
I personally buy things that I love, but there’s an additional comfort if you know your bag retains its value (or increases) so that if you ended up not liking your bag anymore, you haven’t ‘wasted’ money but have also enjoyed its use 😊
Honestly, the only thing I have invested in were leather jackets and Coach bags from the 90s.
Sorry but those aren’t investments. I’d be surprised if u can even make back what you paid for the coach bag. Consignment shops don’t even take them because none of the bags can resell over $200 from what I’ve seen.
I look for vintage Coach all the time. Made in USA vintage only, though. An OG Bonnie Cashin Coach bag in good condition will get you some money. Not Chanel or Hermes money of course, but there's people out there (like me) who collect those
@@TeenaNikole Op probably means an investment as in for their own wardrobe, not necessarily to resell.
@@TeenaNikole Not every investment is a get rich quick scheme. Clearly the OP comment went over your head...
@@TeenaNikole I’m not trying to sell the pieces that I buy. I buy to wear .
Hi Sophie, I’m one of the few lucky ones to get my hands on the iridescent white classic Chanel bag that you mentioned in the video. The bag is so STUNNING 🤩 It’s my unicorn bag and the shimmer on the bag is to die for and I’m so glad to have added it to my luxury collection.
Hi Sophie- you always speak to interesting topics, and I think that this information helps make good decisions. My personal opinion is to buy what you love, use it, but take care of what you buy.
Hugs from the bunnies and me.
Super interesting video, I also want to add if you are in different region , Asia for example, the Gabrielle is very popular there, also the seasonal flaps, I think bc the counterfeit market is big in Asia, they are afraid ppl think their bags are fake, so they buy all the unique styles lol but in Western counties the classic flap or any bags that looks like classic flaps are better investments. I love these kind of topic on YT, hope to see more investment videos from you 💕
Sophie, you're so smart and thoughtful in your buying, styling, and execution! I love how you showcase the balance of style and creativity with business and marketing.
I'm a designer but I actually love finance and marketing. My partner is in finance and loves to shop but he approaches it with a business man's mind. The balance of both really intrigues me!
Awww, thank you so much for your lovely comment Neeka! I really appreciate you sharing this, I adore learning about you all and your lives - so thank you :) Have a great week ahead xxx
Hi Sophie,
I actually bought myself LVMH stock. I have experienced at 37% return on them over the last year and a half that is a true investment. They are fun addition to my other stocks, investment profolio. I enjoy my luxury bags but I see them as investments in my wardrobe not investments in my long-term future.
Enjoy your posts!
There ya go!
When I think about "investing" in a bag, I think of it in terms of either being in my collection for a long time or being something I can sell later to buy another bag. In either situation, I'm going in with the idea that I can afford to lose the entire cost... but if it can let me afford to buy another bag later on, great! In no way do I see bags as "setting me up for retirement" or anything like that. They're just "investments" to keep me in bags I like for the foreseeable future, lol!
The value/worth of anything is whatever someone feels it's worth paying.
Hi Sophie, could you also please discuss the opportunity cost of parking so much money into one bag. Even if you can recoup your cost (without a profit) you have still lost money due to inflation, perhaps it is justified if one got enough use out of it (?). So the question really is how much is the price really increasing year on year and realistically how much will you be able to sell it for after x number of years. Would really love to hear your thoughts on this, possibly even in a part 2 to this video? Cheers xx
As soon as I say the title I was like of course they aren’t. Unless you plan on selling something like a Herme’s after a year. But no one really plans on buying a bag for themselves.
Great feedback, thank you for sharing your thoughts on this Christina! Hugs xx
He's obviously the best .I invested 2000USSD with him and in 7days I made profits of 9100USSD
I think each investment has pros and cons. One thing that did stand out to me is how you select which handbags to purchase as an investment. There is a lot of thought and analysis that goes into it, as with any true investment. For me, I would not feel confident choosing an investment bag, but on the other hand, I do feel very confident in selecting biotech stocks (as that is my industry). And I've made good gains both short & long term from doing so. I would be interesting in learning your process for selecting bags.
I loved this topic Sophie! I think of bags as investments in terms of how long I can actually use them rather than how much I can get back if I sell them. I tend not to sell things but in case that happens these are good points to keep in mind! Thanks!
Hi Sophie, love your videos. Could you please share a bit more about your career, what are you doing, how you’ve started. Where did you study. Career tips for someone who has no experience in marketing but would like to join the field. Thank you xoxo
I bought a Chanel in 1989 ($750.00 in Beverly Hills) kept it in good condition. Had to have the strap/chain replaced (at Chanel) because it had tarnished. Sold it about 5 years ago for almost 6 times what I paid for it.
Thanks to this video (you) I bought that amazing cardigan and love it ❤️
People forget thst VC or other online shops charge around 30. % for selling on theirplataform. So no there’s really few gain on investing in fashion.
That white top handle mini is such a dream🥰
I’m a gamer who especially loves horror games. Years ago, I bought an obscure PlayStation 2 horror game used but in excellent condition for $30 USD. I’m so glad I bought it that cheap because it goes for way more online now, and it has been for years.
Another informative video with food for thought Sophie! Definitely agree with you about buying and selling smart. The time you buy/sell also matters. Right now, smaller bags are very much on trend (remember those Jacquemus bags that can hold a single Tic-Tac) and hot on the resale market, while large bags are less in demand. The markups for mini versions of Hermes and Chanel bags are extortionate, yikes! It's a good time to buy pre-loved bags in larger sizes though.
I see luxury handbags not as investments, but like I choose them the way, that the cost of them for me is pretty much what i would pay for contemporary designer bag. In other words, in the end the cost of wearing Coach and LV bag is kind of the same, if it makes sense. With Chanel I experience bigger losses, because I really need to keep them for longer period, not to loose a lot. As well VC has huge 25% fee.
Wow.. it's unbelievable that up until just recently, rental income in the UK was not taxable. That is so hard for me to wrap my mind around it. In the US, especially cities like Los Angeles, there is not only rent control but insanely high taxes on rental income.
Los Angeles and California as a whole - are in the very top high-end pricing, period!
There are many many other States in the USA that don't have even close the taxes and/or costs.
I love the cardigan you are wearing!
Thank you so much Nora! Hugs xx
You are right branded bags are not investment...I have authentic bag and when I sell them it’s cheaper of course because it was used no one will buy my bags more than I pay because it was used...I have experienced , people thought it’s investment..I don’t think so...even it’s in very good condition they won’t pay more Than what I pay.....
Very interesting topic! I agree, don't buy a bag just for investment, use it, enjoy it and if you can resell it later then that is a Plus. If you Buy a Chanel bag today and keep it safe and sell it in 20 years then that is another story. If you have a bag but you no longer wear it and want to make a quick sale without selling other stuff then it is a good "liquid" option - unlike a House or something similar.
Excellent, excellent video!! I 100% agree - I personally do NOT buy designer items for investment purposes. I buy what I like and purchase on more of a practical basis. Over time, if I don’t use the designer items I purchase I do sell them - but never have made a profit - maybe break even. My investments are in stocks, bonds and mutual funds!! Safer way to go and invest “long term” 👍🏻😉 thank you for acknowledging this topic!
That's so true and I've always said it myself - only use what you're able/prepared to loose. If you can't (I know I can't!) afford to, don't do it. It really is a form of gambling - you're not guaranteed to make a profit on stocks -or just about anything! - just because someone else did! Ah, to have a crystal ball!
You could do a whole series on this topic. I think for all of us that love fashion if you buy good stuff you’re going to get some money back for your items. You can wear it enjoy it and if you’re really lucky you’ll get half back. Unlike fast fashion that is worthless the moment you take it for a spin
I’ve never sold a bag but I did sell a pair of Valentino Rockstud Heels on eBay. You really can’t get all your money back on shoes-esp those that aren’t brand new but really I just rarely wore them and they hurt my feet so I decided to sell them. I got a quote from “The RealReal” but they were going to charge way too much for commission so I opted to sell them on eBay myself. In total (minus eBay fee and shipping) I was able to recoup about 43% of what I had spent originally…not great but better than them sitting on the shelf collecting dust.
Love the set up behind you💕! Anyways thank you for always giving amazing tips🥰
Love how Real you are! PS. Could you upload your video in 1080p please x
I like property but it is a long-term investment, bags gives me something to think about.
100% agree. If I’m buying chanel I don’t buy seasonal style anymore. It’s going to be classics. Either in small or medium size in a seasonal color that I could potentially flip on the resell market in couple of years
I buy my luxury bags because I love them, not to resale them, dear Sophie. That being said my sons are going to make money when I'm gone by selling them. It's a win win for me. Such a great video. Thank you for sharing. 😃❤️
I still really want a medium Lady Dior but sometimes the used prices aren’t much different than the new prices in America. ☹️
Recently, I invested in both stock and Crypto but currently I believe crypto is doing more better !!
I have never understood this whole 'buying for investment' excuse that people use. Buy it because you actually like it - great, if you can make a profit. However, with fashion consignment, second hand, re-sale, replicas etc. luxury who knows that in 20 - 50 years time, these particular bags could become ubiquitous and lose value? Hard to imagine, but nothing is impossible.
my biggest regret buy was a Chanel mini rect which I got because of the impending price increase that was heavily discussed all over social media. the price increase did happen but the problem was I realise I didn’t like the bag I got and end up using it only ONCE before sending it off to be sold. Till know I am looking for a buyer for the bag :/
I see the term as investment for handbags as purchase that will last my lifetime. Like I can wear my designer piece years from now and it will still be fashionable. I don’t buy these things expecting that I would need the money to resell.
THANKS FOR SAYING THAT! You’re the first brave 🥲🥲
Sophieeeee you are an oracle! Young girls listen 🙌🏻
My husband would say stop saying its an investment piece. I will get you the bag but stop lying 😂
I consider them as investment in my wardrobe, not to sell it later on. But, if one day I was not able to buy bags anymore, I know I already own classic bags that don't look old and theyre price are still high in boutiques.
When I 1st started my bags collection, I used to save A LOT for trendy bags bcz they were in at the time, now they're all out of style and worth nothing, this is when I realized that if I invest in classic bag, there will always be in and I'll be able to wear them for years and years.
I love these type of discussions! From personal experience I always knew my bags are investments, but I saw my self using that as my first excuse to people who don’t see the value in them. Even if it’s a bag a damn well know it’s not but it’s cute and it makes me happy, or a bag that I know I can make money on or will last me for many years to come. To me that’s enough since I like to use my bags not just look at them in my wardrobe. Like investing in the stock market ( that I do for myself) I like to buy into companies I believe in, regularly use and buy from. I just do it with my bags too! Also I feel people do get shamed a lot so it’s every fashion lovers first go to excuse to shut someone up lol. No one asks these questions when some men collect golf equipment, fishing stuff and even dawn gloves! Where personally I don’t get it but at the end of the day it’s not my money lol. Like in everything in life you have risks and rewards. Some like to do it in the stock market (which literally is gambling) and some of us on fashion. At least with bags you’re not risking your capital majorly, you might just sell your bag for a bit less than the original price x
Yeah honestly I sold most of my Chanel bags and shifted fully towards Hermes, since the quality and retention value are so much better
Oh property is the way to go :) Even short term.
Hello Sophie, thanks for your insights and opinion. As for me, it reminds me of buying those limited sneakers just for resellling purpose. I tried it once, but yeah failure. It still is a thing, being a sneakerhead and what names they'e called. IMHO properties, stocks, cryptos, luxuries etc. if you know it well, you can profit from, if not it's like gambling because getting a profit it's rather by coincidence. AND I believe that those quick buying and selling will do more harm, because it's fuel the fast fashion even with these luxury brands and those who really love these items will get further away to own them because the price gets insanely high to a point that the material, name etc. aren't worth it anymore.
The rich stay rich by investing and investing without stopping then the poor stay poor by spending like the
Rich but yet not investing like the rich
I invested money in business ... luxury handbags I only have a few what I like to use not for display in my cabinet.
The best thing to do in this period is to invest in silver and crypto
There's also the idea of investing as in - buying one bag and having it last you 5 years, as opposed to buying a cheap bag and it lasts you 6 months.. Better to invest in a more expensive/classic one that could last you longer.
An investment should be for a product that will be used like it's meant to and guaranteed quality and insured especially if you're not financially privileged, can be more secure than buying a new $30 handbag every year that eventually breaks.
omg. I read the video title in my husband's voice.
😂😂😂😂😂😂😂😂😂😂😂😂
😊😊😊we say investment just to make ourselves feel better about the money we spent
Great topic Sophie. I love these discussions on money. You are the only person who does it with regards to fashions. 💚
I don't buy bags as investment for the long term goals. However, Chanel bags and Hermes are an exception (not talking about trendy bags). BEcause we have seen that during a freaking pandemic their pricing did not go down nor was sales affected (small bit in China but came back booming). I do day trading for myself to pay for everyday expenses but now we have Biden talking about taxing capital gains at 49% that will just kill me. I invest long term for my retirement. I have rentals but I do get taxed on my rental income but generally rentals property is a long term over 5/10/20 years plan. Goal is not considered an investment but a hedge against inflation because an ounce of goal is worth the same price 20 years ago as it is today. I say buy what you can afford but keep money/cash in a saving for when you are going to need it.
I think with anything in life it’s always a risk it comes down to how much you want to risk. Personally I would never buy anything that I didn’t want myself but then I wouldn’t buy anything thinking what the resale value would be. Thank you for sharing Sophie xx
Hi Sophie. Thank you for an informative video. I personally think that social media inflates the idea that luxury goods are an investment (financially if one is to resell)! With current pandemic i believe that even property might not give one a good return on investments. Its quite tricky at the moment for one in general to decide what to invest in for short and long term returns!
Agree with you. I bought LV stock instead of its bags last year during the pandemic ....as of today , already made very good profit 🙂
Me too- averaging 37% return.
I would love to see you do a video about crypto and other investments.
Let’s start a culture of us sharing how we build portfolios that we pass on to our kids.
Investing in commodities is a gamble. Coming from a country that based it’s economy on coffee until the 20’s, I like to mirror my investments with what my keens did back then. Down the road , it will be only considerable if you have: quantity, high demand and low offer, the role of a mediator
I think people like to call it an investment as a way to justify the purchase.
But VC also takes a huge cut from sellers like 20% if I remember right. So not worth reselling. I’m sure the sellers that sells a lot on VC get better deals though