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Five things to consider before investing in luxury bags
The term investment is never limited to only money, stocks, land, houses or gold. Some people, especially fashionistas, may decide to invest in luxury bags instead; a fashion item that can cost up to hundreds of thousands of dollars.
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Luxury bags may serve more purposes than just enhancing your appearance and self-confidence. (Shutterstock/file)
T
he term investment is never limited to only money, stocks, land, houses or gold. Some people, especially fashionistas, may decide to invest in luxury bags instead; a fashion item that can cost up to hundreds of thousands of dollars. The logic is to resell unused bags to make more money to buy new items, Singapore-based online platform for luxury products Reebonz Indonesia senior marketing manager, Bernard Widjaja Ng, recently told The Jakarta Post in Jakarta.
The company's executive manager Anggono Wijaya as well as fashion bloggers Olivia Lazuardi and Diana Rikasari shared the things that people consider before investing in luxury bags.
(Read also: Indonesia home to Asia's largest online luxury goods sales: Report)
Exclusivity
Anggono said that people first consider the value of buying a bag at a certain price. “There are brands that are pricey but not really worth it to buy,” he said. Anggono also noted that along with time, what set the standard in value may change. “Years ago, people would prefer [a bag] that had brand logos all over it. Nowadays, I don’t think so as the value [for these kinds of bag] is not as high as before."
(Read also: Handbags mirror social change)
Resell value
People will also consider a bag’s resell value. Olivia looks at the brand’s name and history to know its worth. “Hermès for example. The price always goes up and whenever I resell it, the price will be way higher than the retail price,” Olivia said. She cited that scarcity and long pre-order duration also add to a bag’s resell value.
Maintenance
Bag maintenance includes whether it is easy to clean or not. Anggono picks canvas bags as an example, saying that it is hard to keep the bag maintained. This was also agreed by Diana. “I avoid bags like canvas because sometimes the glue will peel off [and it gets easily] stained,” she said.
(Read also: 6 local quirky bag brands on the rise)
Colors
Color is also an important factor. Anggono said that some people prefer to just go with black for reselling purposes. “[Black] is a color that is available in every season, different with shocking pink or other colors, which are harder to resell,” he said.
Materials
Similarly with maintenance, people also look at a bag’s materials. “When I decide to splurge on something expensive, I have to make sure that the bag will be long lasting in terms of material,” Diana said. There is also an issue of functionality, such as how large is the capacity of the bag, Anggono added. (kes)
