What’s the ROI on that bag you’re about to buy? Most women think of the dividends their handbag might yield in terms of looks and style. But an investment bag—a real power bag—can also return some of the hundreds (or thousands) you put into it when you tap into the high-end resale market. “Classic, covetable bags can be sold for approximately 30-70% of their retail value on the secondary market,” says Elizabeth Bernstein, Accessories Director at Portero, a luxury goods consignment site. How to buy with ROI in mind:
- Buy from an established designer with known staying power such as Louis Vuitton, Calvin Klein or Michael Kors. Choose enduring styles that are sold season after season. Bernstein compares it to buying stocks: “Classics in neutral shades are reliable, like blue chips. But a funky limited-edition LV could be a high risk/high return: It may double its value years from now.” Or not.
- Contact the brand for service. If your bag needs to be repaired or refurbished, take the extra trouble to send it back to the company to preserve its value. (Nix the local shoe guy.)
- Take care of it. Keep liquids (perfumes, lotions, lipsticks, even pens), in plastic bags to prevent leaks. And keep your bag off the floor, where it can get scratched or stained.