I think now is the worst time to buy luxury. Not because of inflation, but because it is not quality. With all of the recent scandals, I never know when the next brand will fall. It is not an investment if you cannot get your money out when you go to sell because the brand/bag reputation has been destroyed by bad campaigns, sweatshop accusations or defective materials. Today I am looking at smaller customizable options that give me the quality of what I want without the worry of extreme depreciating events in the future. What do you think? Does the potential for future scandal impact buying/selling of Luxury?
I’m going to buy another Cartier Trinity cord bracelet, and that’s it. I’m selling my two designer bags, and I’ll never buy another. My $20 crossbody works like a dream, and I carry my Cartier card case, LV wallet and Hermes keyring inside. Life goes on.
I like to ask “if I lost my job, would I regret this purchase?” and that helps me decide. I also like to see money as time between me and homelessness so that is another consideration.
@@ShweMyaukMyauk thinking like that is how average ppl build a nest egg and pay off their house, in my opinion if you haven’t done those things luxury bags shouldn’t even be a consideration.
I was a big spender. Now, I’m a super saver. I get a massive thrill from seeing my debt go away and my bank account increase. Much more satisfaction. If I want something, it will be there in the future if I still want it then.💵💰💵💰💵💰💵💰💵💰
I suddenly got into McQueen bags - quality of what I saw was very good, discounts are great. They might not be everyday pieces but as a cool designer bag I think they are classic in their own way. Imagine you are even in your 70 with those sculls on the bag, I think it’s fun.
I'm from Greece and for now pray that the wars come to an end. I spend with caution. My first priority is being currently educated in oil painting online, followed by purchases of what I need and want. I spend with caution, in other words while I do not deprive myself I do not go overboard. I never looked upon sartorial satisfaction as an investment, it is a slippery path, I buy according to quality and looks, normally across certain brands I like. So the mandra is take care of your finances so they take care you.
Hi Sophie ! The luxury shopping in Hong Kong is not how it used to be, there’s no massive queues these days in those boutiques, which shows the economy is not good over here ! Many of us like to travel abroad on vacation and shop in Europe, like France and Italy because pricing is cheaper and can get tax refund. I certainly bought less after those crazy price increases with lower quality and switched to other brands too … Gucci and Fendi are good choices ❤
I’m feeling conservative in my spending - saying that after my first LV purchase - but hopeful that things settle in the US after our election. We’re anxious over here.
If you have to consider your purchases as investments then I suggest you should be spending your hard earned cash elsewhere. Luxury goods are expensive for rich people to buy them without much thought. Not for the average consumer to be worried about items holding value or losing money.
Fully agree ! Why are people obsessed with the resale value ? You buy something to enjoy wearing .. not to worry about how much I’ll sell it for 2-3 years down the road
I think resale and buying vintage is the 100% way to go now. Brand quality has dropped substantially as prices continue to climb, plus many of the main houses seem to be severely uninspired in their designs as of recent. Also, Coach and other affordable brands are becoming increasingly popular in lieu of the luxury price rises and scandals. I think these cheaper brands will become more and more prevalent as economies worsen!
Hi Sophie! Céline from France here 👋 and the situation is … as bad as you imagine when you’re not in the top 1%. Sorry I have to go, got some taxes to pay.
Sophie could you please do an update video on where is the best place to buy vintage bags? The quality between bags made in early 2000s to today are massive! And yet places like Vestier Collective, The Real Real, Sellier, they all have people expressing unpleasant experiences buying from these well renowned sites. Could you please share with us other sites to look into. Thank you!❤
My advice is if you need to save for some bag then it's far wiser to invest. I know people who literally starve themselves so that they could buy something with a logo and not even sure if the item is real or fake. If you ever found yourself looking for reasons to buy a logo just because of logo, then it's wiser to walk away.
From my experience at buying and selling at the pre-love market, these are the brands that you get most of your money back: Hermes, Chanel, Louis Vuitton, and Celine. YSL, Gucci, Givenchy, and Lady Dior don’t hold their value if you want to sell them.
Oh wow I love your nails in this video! I had a splinter taken out of my index finger today, it was so painful, maybe I’ll get a manicure to console myself over my suffering. 😂
I invest in mutual funds, and I love all my bags. Bags are not investments for me, they are for fun and for indulging. Also I know, as someone said wisely in the comments, that if I want a bag it will still be there later.
Let's be honest we are living in terrible times especially in London with ridiculously high snatch and grab thefts. Carrying anything luxury now just makes us a target. When I wear something I want to feel comfortable not on guard.Spending money on self-care, experiences and travel make you feel good. Hopefully by the time we are in better times the fashion houses would have resolved their quality issues too.
Me too. I do love shopping and pretty things, but now looking at the low hanging fruit as well and at the same time focusing on paying off cc and saving.
I'm not spending like I was, like you I'm saving. If I do spend, it's on experiences instead of stuff. Concerts, movies, dinner out, etc. I really need nothing and I'm content with finding a good deal on a pre-loved bag right now.
Hello Sophie dear, I have found myself spending a lot of money in things, and not saving anything, but I realize that social media has a lot to do with this! I'm really struggling with saving, because I "feel" I need those things 😢
Unsubscribe to influencers. It’s helps. We don’t “need” these things. I have and love luxury, but in moderation and being mindful of my savings. Rule of thumb is to have at least 3-6 months of savings just in case of emergency
I save as much as I spend. The amount I can put aside for a bag, the same amount I invest. I know, I've told myself thousands of times: "stupid, you could be investing twice as much", but I can't help myself.
I’m spending less. Actually I had built an awesome collection over the years and now I’m ready to enjoy it. I’m not into no buy, but I definitely don’t see the point of adding and adding.
I am never into luxury because I cannot justify making such purchases ever. A bag is just a bag. Functional purpose only. Invest in properties and into my future retirement. Never been in debt and never will. Contented with what I have and lack nothing. That is priceless.
While I do love the boutique experience I also love a good preloved deal for something in pristine condition. For me I feel just as good with that experience. Plus let’s be honest it’s never the last bag. There will be another. So, if I can save buying preloved or vintage I’m happy and don’t feel bad when I buy another bag shortly after
I just got back from NYC and made my first full price luxury bag purchase in a flagship store. I spent too much money (for me), but this is true for any luxury item. I've loved the brand for years, have bought it from resale sites, but really wanted a new item. I don't regret it (I love the bag), but I won't be buying more luxury at this time...new or pre-loved.
In Germany the majority of wealthy people don't even start considering buying into luxury brands, so the brands that have their stores installed in German cities are more expensive compared to other regions in Europe to begin with, to compensate the consecutive expensives. Thus the middle class like me never even had a chance and focal point on starting investing into luxury articles.
I just bought a fab Gucci bag preloved from a well known company for 350.00 it is chocolate brown canvas and leather fab condition really practical I will use it a lot. I would not buy new just silly prices. Plus I have something a bit unusual but still classic will never date.
I like treating myself once and awhile but not on luxury goods at least $1k+. Can't justify it when my taste and preferences are constantly changing. I'm really into korean products atm. BTW all the high end stores are closing down in our country let alone SME. The prices are too much for the average joe.
you're always better off saving if you've got any kind of debt including a mortgage and don't have the rest of your finance sorted out especially retirement ! to me luxury is for those who's have all of these categories taken care of aka the essentials hence its a luxury.
Most I know in the 🇺🇸 are waiting until after November elections. I'm sure that's why you said wait until Spring. DJT2024 gets elected the worldwide economy will dramatically improve
I think now is the worst time to buy luxury. Not because of inflation, but because it is not quality. With all of the recent scandals, I never know when the next brand will fall. It is not an investment if you cannot get your money out when you go to sell because the brand/bag reputation has been destroyed by bad campaigns, sweatshop accusations or defective materials. Today I am looking at smaller customizable options that give me the quality of what I want without the worry of extreme depreciating events in the future.
What do you think? Does the potential for future scandal impact buying/selling of Luxury?
I’m going to buy another Cartier Trinity cord bracelet, and that’s it. I’m selling my two designer bags, and I’ll never buy another. My $20 crossbody works like a dream, and I carry my Cartier card case, LV wallet and Hermes keyring inside. Life goes on.
I like to ask “if I lost my job, would I regret this purchase?” and that helps me decide. I also like to see money as time between me and homelessness so that is another consideration.
That seems stressful and extreme. Like living a life feeling a gun is pointed at your head
You have the right perspective
That's exactly what being working class in America is like right now. We work to stay housed.@@carrino15
If you have to think like that then luxury bags is not even a consideration
@@ShweMyaukMyauk thinking like that is how average ppl build a nest egg and pay off their house, in my opinion if you haven’t done those things luxury bags shouldn’t even be a consideration.
I was a big spender. Now, I’m a super saver. I get a massive thrill from seeing my debt go away and my bank account increase. Much more satisfaction. If I want something, it will be there in the future if I still want it then.💵💰💵💰💵💰💵💰💵💰
I suddenly got into McQueen bags - quality of what I saw was very good, discounts are great. They might not be everyday pieces but as a cool designer bag I think they are classic in their own way. Imagine you are even in your 70 with those sculls on the bag, I think it’s fun.
I'm from Greece and for now pray that the wars come to an end.
I spend with caution. My first priority is being currently educated in oil painting online, followed by purchases of what I need and want. I spend with caution, in other words while I do not deprive myself I do not go overboard. I never looked upon sartorial satisfaction as an investment, it is a slippery path, I buy according to quality and looks, normally across certain brands I like. So the mandra is take care of your finances so they take care you.
Hi Sophie ! The luxury shopping in Hong Kong is not how it used to be, there’s no massive queues these days in those boutiques, which shows the economy is not good over here ! Many of us like to travel abroad on vacation and shop in Europe, like France and Italy because pricing is cheaper and can get tax refund. I certainly bought less after those crazy price increases with lower quality and switched to other brands too … Gucci and Fendi are good choices ❤
I’m feeling conservative in my spending - saying that after my first LV purchase - but hopeful that things settle in the US after our election. We’re anxious over here.
You’re smarter than majority of people out there. Invest, invest, invest! And not into bags or luxury goods. That won’t make you rich.
Buying luxury right now might not be the best option rather I would rather invest in the stocks of luxury companies
Buy low! I’ve read Wall Street anticipates luxury rebound next year.
I like Italian bags. Their design speaks to me more, than Hermes does.
If you have to consider your purchases as investments then I suggest you should be spending your hard earned cash elsewhere. Luxury goods are expensive for rich people to buy them without much thought. Not for the average consumer to be worried about items holding value or losing money.
THANK YOU! Finally someone said this very sensible concept in a simple way.
Fully agree ! Why are people obsessed with the resale value ? You buy something to enjoy wearing .. not to worry about how much I’ll sell it for 2-3 years down the road
I feel like it’s dipping so much now that we’ll end up having another major logomania situation in another few years
I think resale and buying vintage is the 100% way to go now. Brand quality has dropped substantially as prices continue to climb, plus many of the main houses seem to be severely uninspired in their designs as of recent. Also, Coach and other affordable brands are becoming increasingly popular in lieu of the luxury price rises and scandals. I think these cheaper brands will become more and more prevalent as economies worsen!
I'm only getting one luxury item per year. I'm saving the rest.
Hi Sophie! Céline from France here 👋 and the situation is … as bad as you imagine when you’re not in the top 1%. Sorry I have to go, got some taxes to pay.
Sophie could you please do an update video on where is the best place to buy vintage bags? The quality between bags made in early 2000s to today are massive! And yet places like Vestier Collective, The Real Real, Sellier, they all have people expressing unpleasant experiences buying from these well renowned sites. Could you please share with us other sites to look into. Thank you!❤
That sparkly jacket is so nice!
When the news says the economy is bad, I ramp up my business. It really doesn’t affect me.
My advice is if you need to save for some bag then it's far wiser to invest. I know people who literally starve themselves so that they could buy something with a logo and not even sure if the item is real or fake. If you ever found yourself looking for reasons to buy a logo just because of logo, then it's wiser to walk away.
From my experience at buying and selling at the pre-love market, these are the brands that you get most of your money back: Hermes, Chanel, Louis Vuitton, and Celine. YSL, Gucci, Givenchy, and Lady Dior don’t hold their value if you want to sell them.
I would agree. In my experience, Louis Vuitton canvas pieces hold better value on resell market than their leather pieces.
@@lilylife4426 Yes! I was shocked I thought people would prefer leather instead of canvas.
Oh wow I love your nails in this video! I had a splinter taken out of my index finger today, it was so painful, maybe I’ll get a manicure to console myself over my suffering. 😂
I invest in mutual funds, and I love all my bags. Bags are not investments for me, they are for fun and for indulging.
Also I know, as someone said wisely in the comments, that if I want a bag it will still be there later.
The Fendi tote looks better than the Dior.
Many I know are focused on paying off the mortgage rather than lux. Canada
A lot of people are thinking the way you are! Luxury is not a way to spend your money as an investment. I think your giving some great tips!
Let's be honest we are living in terrible times especially in London with ridiculously high snatch and grab thefts. Carrying anything luxury now just makes us a target. When I wear something I want to feel comfortable not on guard.Spending money on self-care, experiences and travel make you feel good. Hopefully by the time we are in better times the fashion houses would have resolved their quality issues too.
Some people will always save. I am doing both spending and save. I am low hanging fruit but like coach and low price point
Me too. I do love shopping and pretty things, but now looking at the low hanging fruit as well and at the same time focusing on paying off cc and saving.
I'm not spending like I was, like you I'm saving. If I do spend, it's on experiences instead of stuff. Concerts, movies, dinner out, etc. I really need nothing and I'm content with finding a good deal on a pre-loved bag right now.
You have such an amazing bag collection! Dreaming!
Hello Sophie dear, I have found myself spending a lot of money in things, and not saving anything, but I realize that social media has a lot to do with this! I'm really struggling with saving, because I "feel" I need those things 😢
Unsubscribe to influencers. It’s helps. We don’t “need” these things. I have and love luxury, but in moderation and being mindful of my savings. Rule of thumb is to have at least 3-6 months of savings just in case of emergency
No spending on unnecessary items at the moment. Everything is so expensive now. Plus I'm saving for my trip to Europe next yr 😊
I save as much as I spend. The amount I can put aside for a bag, the same amount I invest. I know, I've told myself thousands of times: "stupid, you could be investing twice as much", but I can't help myself.
At least you’re mindful about it. Balance is key
Every time I go to Japan I buy a second hand bag ❤ prices in Japan are soo good. I can buy chanel under 2000
I’m spending less. Actually I had built an awesome collection over the years and now I’m ready to enjoy it. I’m not into no buy, but I definitely don’t see the point of adding and adding.
I am never into luxury because I cannot justify making such purchases ever.
A bag is just a bag. Functional purpose only.
Invest in properties and into my future retirement.
Never been in debt and never will.
Contented with what I have and lack nothing.
That is priceless.
Canada here, our economy is beyond drowning definitely not spending until things settled
While I do love the boutique experience I also love a good preloved deal for something in pristine condition. For me I feel just as good with that experience. Plus let’s be honest it’s never the last bag. There will be another. So, if I can save buying preloved or vintage I’m happy and don’t feel bad when I buy another bag shortly after
Have you seen the YSL bum bag? I think it's perfect for traveling, I just ordered it and it's $1100 dollars.
Great video! Love the Gucci and Fendi bags
Always the best advice 🙌🏻
I just got back from NYC and made my first full price luxury bag purchase in a flagship store. I spent too much money (for me), but this is true for any luxury item. I've loved the brand for years, have bought it from resale sites, but really wanted a new item. I don't regret it (I love the bag), but I won't be buying more luxury at this time...new or pre-loved.
Thanks for the insight and information ❤😊
Great video
The Gucci one ❤❤❤❤
❤your My Melody pouch so cute ❤
Thank you for your insights ❤😊
If I am having to adjust budget for the cost of living, I will not be buying YSL or Fendi or Gucci. I might buy something by Coach or Dooney & Bourke.
I would really like to buy a pre-loved bag from Vestiaire collective or somewhere similar, but I’m terrified of getting a fake. 😣
I’ve bought some preloved bags for super cheap! Like $200-300. Haven’t bought any new bags in a while!
Vestiaire Collective is so unecessary expensive its crazy ...
Oh definitely! I thrifted a London Fog jacket and wanted to see how old it was. I found it on eBay for $50 and on VC for $450...
Good to know
In Germany the majority of wealthy people don't even start considering buying into luxury brands, so the brands that have their stores installed in German cities are more expensive compared to other regions in Europe to begin with, to compensate the consecutive expensives. Thus the middle class like me never even had a chance and focal point on starting investing into luxury articles.
I’m shopping preloved and mid-priced contemporary brands rather than luxury. We are spending money though on travel and experiences instead.
Saving baby !
I just bought a fab Gucci bag preloved from a well known company for 350.00 it is chocolate brown canvas and leather fab condition really practical I will use it a lot. I would not buy new just silly prices. Plus I have something a bit unusual but still classic will never date.
I like treating myself once and awhile but not on luxury goods at least $1k+. Can't justify it when my taste and preferences are constantly changing. I'm really into korean products atm. BTW all the high end stores are closing down in our country let alone SME. The prices are too much for the average joe.
I want to know how to get over FOMO not for boutique bags but second hand pieces. Some of these prices on second hand are excellent.
Finally!! ❤
What are your thoughts on the Chanel Pearl bags? Particularly the all over pearl rectangular mini satin bag from 2019. Is it worth the investment?
you're always better off saving if you've got any kind of debt including a mortgage and don't have the rest of your finance sorted out especially retirement ! to me luxury is for those who's have all of these categories taken care of aka the essentials hence its a luxury.
Natural Diamond price is dropped a lot, do you feel it's time to buy diamond ?
Sadly, LV canvas and Fendi has no resell value either.
Crap. I just bought two Fendi Baguettes on Sunday 🤦🏻♀️
Congrats! Enjoy! I bought a Fendi roll tote vintage and am very happy. Baguette is my next purchase.
My latest purchase is a lv belt , everything just keeps going up in price makes me think best to purchase now ?
Most I know in the 🇺🇸 are waiting until after November elections. I'm sure that's why you said wait until Spring. DJT2024 gets elected the worldwide economy will dramatically improve
Gucci does not resell well!