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Luxury leather bags could be your next cash cow

Prices won’t stop rising anytime soon, so the time to buy is now, experts say

Russell Marino Soh

Published Thu, Mar 16, 2023 · 07:00 PM
    • There is money to be made from flipping bags on the secondary market – if you can get your hands on the right pieces and are willing to wait.
    • There is money to be made from flipping bags on the secondary market – if you can get your hands on the right pieces and are willing to wait. PHOTOS: BT FILE, DIOR, SOTHEBY'S, CHANEL, LOUIS VUITTON

    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.

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