designer handbags are now a better investment than art.
In a landscape of stocks, bonds, property and more, designer handbags may not seem like the most obvious way to diversify your investments, but they’re certainly worth taking a look at.
According to Art Market Research (AMR), they now outperform art, classic cars and rare whiskies in terms of investment potential. Some bags, from the likes of Hermès, Chanel and Louis Vuitton, have even experienced a valuation spike of an average of 83% in the last ten years.
To put that into context, coins have increased by 21%, first-edition books by 42% and watches — the assumed king of fashionable investments — by just 72%.
According to the report, more than 3,500 designer handbags were sold at auction in 2019, raking in a whopping £26.4 million ($32.9 million).
The most coveted? The crocodile skin Himalayan Birkin by Hermès, of course, which has long been considered the most collectible handbag in the world. The record-breaker, a white gold and diamond hardware-d Birkin, actually fetched 2.8 million Hong Kong Dollars (roughly $372,600) back in 2016...