INVEST IN CLASSIC BRAND AND STYLES
Abbey explained that it’s important to do your research before buying a luxury handbag because how the price fluctuates depends on the brand.
Chanel’s classic flag bag currently sell for around £3,420, Louis Vuitton Neverfull Totes retail from £3,420, meanwhile a second hand Birkin bag costs upwards of £21,491.
Abbey said: ‘For example the Hermes Birkin Bag, the Chanel classic flap bag and the Louis Vuitton Neverfull Tote are all proven to grow in value over time.
‘However, in general, any classic bag in a fantastic condition will become the most valuable. These bags use premium materials that are long lasting, durable and reliable, and if they contain these original materials, they will be worth more.’
Abbey revealed black, white and neutral colours are more likely to hold their value than coloured handbags because they are less dependent on trends and can be paired with more outfits.
The key factors to consider when purchasing a designer handbag to achieve a future profit include investing in classic models. Pictured: Hermès pre-owned Birkin 35 handbag on sale at FarFetch for £21,491
IF YOU DON’T GO FOR A CLASSIC, ALWAYS OPT FOR QUALITY
‘Although older, more classic bags are often in higher demand, newer bags from top designers are most likely to grow in value more quickly due to demand and people looking to update their wardrobes.
‘Also, when it comes to handbags, owners will either dispose of newer models quicker, or use them less, so they tend to be in better condition than classic bags, that are kept longer, and used more, making them easier to sell on, and for more money than what was paid for them.
LOOK OUT FOR LIMITED EDITION AND BAGS COMING BACK INTO FASHION
The Dior saddlebag is back in fashion and has gone from being almost unsaleable to selling for more than £1,000
‘It is always worth investing in limited edition handbags, because these increase in value the most, and at a quicker pace due to the demand,’ Abbey explained.
‘Brands like Louis Vuitton are ideal for limited editions, so there is a constant demand for the style, meaning a profit is guaranteed.
Handbag Clinic co-founder and retail director Charlotte Staerck added that although it’s a risk to buy the latest fashion rather than a classic style, you could get lucky if it comes back into vogue.
‘Trend bags will always have their place and you never know which one will take off,’ she said.
‘The Dior Saddle Bag is a perfect example of this as following Dior’s reintroduction of their saddle bag in their Fall 2018 show, the look and style exploded back onto the market and their value rocketed.
‘They went from being completely unsalable, possibly fetching around £300, to selling for £1,000 plus.
HOW TO MAINTAIN
Abbey revealed the dust bag luxury bags are sold with aren’t only important for storing the items but also for proving their authenticity.
Sharing maintenance advice, she said: ‘Always keep it in a dust bag, and away from an area that gets dusty or damp. So I recommend putting them on shelves, rather than stuffed away in the back of a wardrobe. Keeping the original dust bag will also help with re-selling to prove it’s authenticity and show the bag has been looked after.
‘Avoid touching them after applying lotion, hand cream, or washing your hands, as this will cause stains and marks. And if you do mark it, clean it instantly.
‘Protect the interiors. Use plastic bags and don’t leave loose makeup products or perfumes in the bag, and never store food and drink in them. If you have to, always store away in plastic bags.
‘Invest in proper cleaning products, as you won’t ruin the bag or the appearance of it. And when you can, get it professionally cleaned and if it does become damaged, have it fixed professionally, ideally through the brand directly. Once you fix it yourself, or somewhere that isn’t qualified, your bag will lose value.’
She continued: ‘How they are looked after is so important and also bags that have the original materials, such as dust bags as mentioned above. Once replaced, the value can reduce, which is why it’s so important to get it done professionally.
WHEN TO SELL
‘It’s important to understand the market, because designer bags will sell for more if they are popular at the time you want to sell,’ Abbey explained.
Large and classic designer handbags are in higher demand during autumn.
Meanwhile, smaller bags that are lighter and coloured good often sell better in the summer because they can be more stylish and versatile with clothing.
The best time of the year to sell a designer handbag varies depending on the size and colour, but you should buy between December and March because designers such as Chanel increase their prices during the Spring. Pictured: Chanel’s £3,420 flap bag Shiny Lambskin & Gold-Tone Metal Navy Blue