Anyone can play the stock market, but buying rare, limited-edition, vintage and designer clothing and accessories could pay off in the long run, too. But really have to know what you’re buying and stick with investment pieces from timeless luxury brands, Hermès, Chanel, Tiffany & Co. and Rolex. And no matter how much something costs when it’s new and how well-known the brand is, these items need to be in exceptional condition when resold. But if you’re looking to invest in designer pieces, here are some of the smartest purchases.
- Hermes Handbags - The uber-luxurious Birkin and Kelly bags are always in demand because of their extremely limited availability. And these purses will never go out of style, which is why women are willing to pay around $10,000 for the smallest style. Even pre-owned Birkin bags sell for 10-grand, and some styles and sizes go for between $20,000 and $40,000 - for a purse!
- Chanel 2.55 Bag - This classic bag made its debut in February 1955 for just $220 and currently resells for $4,900 and up!
- Rolex Watches - There’s nothing like a Rolex when it comes to quality, so these are coveted collector’s pieces. A basic Rolex Submariner runs about $7,500 and they only go up from there, depending on the model and materials used.
- Patek Philippe Watches - A Patek Philippe watch that cost $20-grand in the ‘80s could now go for more than $400,000! You can get a new entry level timepiece for about $20,000 and it’s almost certain to increase in value over time.
- Yeezy Sneakers - Kanye’s show company is only eight years old, and according to sneaker blog Sole Collector, the Nike Air Yeezy Red October kicks from October 2014 that sold for $250 now have an average resell value of $5,631.
- Gucci Loafers - The first pair were designed in 1953 and every year they reinvent the loafer, but the classic black leather ones are still the most popular. The Gucci Jordaan leather loafer retails for $730, but the vintage and discontinued styles could fetch around $1,100.
- Cartier Love Bracelets - An entry level solid yellow Love Bracelet will set you back more than $4,000, but a white gold and diamond-paved one is currently on Cartier’s website for $56,000! And these hold value because they’re made by an elite, world renowned jewelry company.
- Hermes Scarf - These silk scarves have always been linked to luxury. You can get a new one for $395, but they’ve been known to sell second-hand for as much as a few thousand dollars, depending on the style, season, and story behind it.
Source: Harper's Bazaar