FINANCIAL ruin seems to be hitting all around us. The recent spate of stock crashes, bank runs and crypto collapses might make it seem like there’s no safe haven left for those looking to invest their money. But one option might stay resilient in the face of economic uncertainty – luxury bags.

“Luxury bags can be considered to be a good investment choice,” says Baptiste Le Gal, chief revenue officer for the Asia-Pacific region at luxury resale website Vestiaire Collective. He adds that heritage designs from brands such as Hermes and Dior have become increasingly popular over the last year.

Particular styles – such as Hermes’ Birkin and Chanel’s Classic Flap – have long been known to fetch high prices on the secondary market. Known as investment pieces, the resale values of these bags have consistently risen in the past five years, with dips being few and far between.