Is the cat in the hat? Or is the mouse a house? Rhyming Simon Dr. Seuss always had a way with words but maybe the cat has been let out of the bag. Making international luxury news recently was data in from online reseller Reebonz about the soaring values of used Hermes bags.
Capital appreciation has long been touted as the key element of real estate but in a world gone fashion mad property developers may have to learn from the rag trade. Looking at the Reebonz numbers one of the most coveted items are Hermes Birkin bags. Popular bags in this brand are seeing values close to 20% over replacement value of new products. More importantly over a period of time values are holding.
For many in the luxury segment, the reality has often been like buying a new car and seeing the value stripped as soon as the rubber hits the road but for certain leading brands like Hermes, Chanel and Louis Vuitton they hold or in some cases appreciate upwards.
Yes I did indeed watch the Sofia Coppola disaster of a movie Bling Ring that touted the endless desire of trendy fashionistas gone wild but the reality is the secondary marketplace at the top end of no longer just about real estate.
I managed to wade through the Reebonz website and it’s an impressive set of resales that hone in on the Asia value of getting a deal. Hallmarks of the offering goes from easy refunds, guaranteed authenticity and fast tracked communications. Another quirky item is the ‘closet’ app that make photos, snap, click and sell and easy proposition.
At the end of the day the reality is that luxury fashion just like luxury real estate never goes out of style and the key to unlocking the value is not only the marketplace but it is reflected in quality and timelessness.
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