PurseBop Lays It All Out: Handbags Are a Top Investment For the Wealthy

PurseBop Lays It All Out:  Handbags Are a Top Investment For the Wealthy - the-palm-beach-trunk

 

Rachel Koffsky examines an auction lot [Photo by @KnightFrank via PurseBop]

 

Do you every worry that you've spent too much money on luxury?  Do you ever worry that bag investments are a waste?  If anyone has ever called your handbag investments crazy (author raises hand), tell them to slow down!  Luxury Bags are the top collectible investment, followed by stamps.

So what does that mean?

PurseBop did the research and lays it all out below.

A recent report named handbags the number one collectible investment for 2019. According to real-estate brokerage firm and wealth-researcher Knight Frank, its Knight Frank Luxury Investment Index (KFLII) calculated that handbag value rose 13% in 2019. For point of reference, art – perhaps like those Picassos or Renoirs hanging in your hallway – experienced an overall return of about 5%. Rare whiskey was about the same as art. And second to bags was . . . stamps. Yup, happy philatelists saw a 6% rise in value.

But let’s drill down a little on this. The first big piece of news is that handbags were even considered a luxury investment collectible.This is the first time the KFLII included bags in this ranking.

The reason for this may be even more surprising. With the explosion of the resale market, both online and the auction sales curated by mainstay famous auction houses, there are simply more points of reference for value. Or as Knight Frank’s Director of Art Market Research, Sebastian Duthy, said: “It’s only been possible to create an index on handbags now because of the frequency with which many iconic pieces are coming to auction today.”

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