Wed. Nov 6th, 2024

REVEALED: Buying a coveted Hermes Birkin or Kelly bag can net you a HUGE profit on the resale market – but there’s two popular luxury brands whose purses lose up to 50% of their value<!-- wp:html --><p><a href="https://whatsnew2day.com/">WhatsNew2Day - Latest News And Breaking Headlines</a></p> <div> <p class="mol-para-with-font">Reselling coveted designer handbags can generate huge profits for savvy investors, but not all designer brands are created equal on the secondhand market. </p> <p class="mol-para-with-font">Luxury brands hate the resale market because it can allow people to profit from fake products, especially when second-hand websites don’t have strict authentication controls.</p> <p class="mol-para-with-font">However, another concern for expensive companies is that certain designs sell more expensively on the resale market and make resellers a fortune, which can cause consumers to disregard products that do not hold their value. </p> <p class="mol-para-with-font">In the last four years, shoppers lost $1.3 trillion on new luxury items: bags, clothing, watches and jewelry, <a target="_blank" class="class" href="https://www.wsj.com/business/retail/luxury-hand-me-downs-are-now-worth-billions-of-dollars-68d8ad6b" rel="noopener">Wall Street Journal</a> reported. </p> <p class="mol-para-with-font">The resale market has doubled in size in the last four years and in 2023, luxury goods worth $49.3 billion were sold worldwide.</p> <div class="artSplitter mol-img-group"> <div class="mol-img"> <div class="image-wrap"> </div> </div> <p class="imageCaption">Reselling coveted designer handbags can generate huge profits for savvy investors, but not all designer brands are created equal on the secondhand market.</p> </div> <div class="artSplitter mol-img-group"> <div class="mol-img"> <div class="image-wrap"> </div> </div> <p class="imageCaption">In the past four years, shoppers lost $1.3 trillion on new luxury items: bags, clothing, watches and jewelry.</p> </div> <div class="artSplitter mol-img-group"> <div class="mol-img"> <div class="image-wrap"> </div> </div> <p class="imageCaption">Hermès bags are so sought after and exclusive that aspiring owners are willing to spend a lot of money on a used bag to avoid having to wait on listings.</p> </div> <div class="artSplitter mol-img-group"> <div class="mol-img"> <div class="image-wrap"> </div> </div> <p class="imageCaption">According to data from The Real Real, a popular online marketplace for selling luxury items, Louis Vuitton bags lose an average of 40 percent of their value when resold, even if they are rarer designs like this one that seen in Rihanna. he’s doing better than most</p> </div> <div class="artSplitter mol-img-group"> <div class="mol-img"> <div class="image-wrap"> </div> </div> <p class="imageCaption">The brand’s iconic Kelly bag is named after Princess Grace Kelly and is now an expensive status symbol, which Kyle Richards is shown holding here in Epsom leather with palladium hardware. The Real Housewives star is an avid bag collector, and at Hermes in Paris with brand executive and Whisperer VIP Michael Coste.</p> </div> <p class="mol-para-with-font">Hermès bags are so sought after and exclusive that aspiring owners are willing to spend a lot of money on a used bag to avoid playing the Hermes game, which typically involves developing a relationship with a sales associate, an expensive upfront expense, and a list of wait. of a year or more. </p> <p class="mol-para-with-font">A basic Birkin 25 bag retails for around $10,000, but can resell for $24,000 or more.</p> <p class="mol-para-with-font">Hermès’ 25cm ostrich Birkin bags have proven rare, with only 25 sold at auction in the last decade. Its average selling price has surpassed $35,000 since 2020, and a 2021 Noir Ostrich Birkin 25 will sell for a generous $40,420 in 2022. </p> <p class="mol-para-with-font">Rare Hermès bags bring in even more cash: a Himalaya Birkin set a world record in 2020 when it sold at auction for a whopping $382,295.</p> <p class="mol-para-with-font">Birkin bags are not just a fashion statement: they are an indication not only of wealth but also status and, often, fame.</p> <p class="mol-para-with-font">Stars like Kyle Richards, Victoria Beckham, Paris Hilton, Pippa Middleton, the Kardashians and, of course, Jane Birkin herself, have all wielded Birkin bags at some point.</p> <p class="mol-para-with-font">The brand’s iconic Kelly bag is named after Princess Grace Kelly and is now an expensive status symbol.</p> <p class="mol-para-with-font">On average, second-hand Hermès bags cost 25 percent more than new ones purchased directly from the store.</p> <p class="mol-para-with-font">While used products from luxury brands like Hermès, Patek Philippe and Rolex make more money than their new versions, most other designers have lower resale values ​​than the original price.</p> <p class="mol-para-with-font">According to data from The Real Real, a popular online marketplace for selling luxury items, Louis Vuitton bags lose an average of 40 percent of their value when resold.</p> <div class="artSplitter mol-img-group"> <div class="mol-img"> <div class="image-wrap"> </div> </div> <p class="imageCaption">An ostrich Birkin like the one seen here on Jordyn Woods can fetch $40,000 on the resale market, depending on size, color, hardware, and condition. </p> </div> <div class="artSplitter mol-img-group"> <div class="mol-img"> <div class="image-wrap"> </div> </div> <p class="imageCaption">Beth Silverberg, a resale market expert and savvy investor, insists that designer handbags are as lucrative as real estate, art, and even stocks.</p> </div> <p class="mol-para-with-font">Christian Dior bags lose half their value on the resale market.</p> <p class="mol-para-with-font">Meanwhile, other brands are seeing drops in their resale value: Burberry’s average has fallen 17 percent since it hired its new creative director at the end of 2022.</p> <p class="mol-para-with-font">Paris-listed luxury group Kering, which owns Gucci, Balenciaga and Bottega Veneta, has seen its values ​​fall, with its three main brands falling 10 percent, 14 percent and 23 percent respectively. </p> <p class="mol-para-with-font">Chanel increased the price of its popular mid-sized Classic Flap bag by a staggering 70 percent during the pandemic, but the bag’s resale price has yet to reach the new label. </p> <p class="mol-para-with-font">Some designer brands attempted to interfere with competition in resale markets by partnering with them, a model attempted by Gucci, Stella McCartney and Burberry, but their efforts were short-lived and largely unfruitful. </p> <p class="mol-para-with-font">Beth Silverberg, a resale market expert and savvy investor, insists that designer handbags are as lucrative as real estate, art, and even stocks.</p> <div class="artSplitter mol-img-group"> <div class="mol-img"> <div class="image-wrap"> </div> </div> <p class="imageCaption">Beth Silverberg is pictured holding a vintage white Hermès Kelly bag that she purchased for $600 but has a retail value of $15,000. She also holds a rare hot pink Chanel bag purchased for $6,000, and an extremely rare Birkin 20.</p> </div> <p class="mol-para-with-font">Silverberg, a former professional poker player, estimates she has made more than $100,000 buying and selling handbags from brands such as Chanel, Hermès and Louis Vuitton since she started her collection at age 16.</p> <p class="mol-para-with-font">And its profits will only grow after a report from wealth manager Credit Suisse projected that handbags would be one of the best ‘collectible’ investments of 2023, overtaking jewelery and art in terms of resale value.</p> <p class="mol-para-with-font">“My first bag was a Louis Vuitton 30 Speedy that I bought for $150 with tips I received as a waitress,” the 55-year-old from Pennsylvania told Dailymail.com.</p> <p class="mol-para-with-font">‘I sold mine about $600 years ago, but now they’re worth $1,500.</p> <p class="mol-para-with-font">“I’ve always invested in stocks and shares, but my bags have far surpassed anything I’ve done traditionally.”</p> </div> <p><a href="https://whatsnew2day.com/revealed-buying-a-coveted-hermes-birkin-or-kelly-bag-can-net-you-a-huge-profit-on-the-resale-market-but-theres-two-popular-luxury-brands-whose-purses-lose-up-to-50-of-their-value/">REVEALED: Buying a coveted Hermes Birkin or Kelly bag can net you a HUGE profit on the resale market – but there’s two popular luxury brands whose purses lose up to 50% of their value</a></p><!-- /wp:html -->

WhatsNew2Day – Latest News And Breaking Headlines

Reselling coveted designer handbags can generate huge profits for savvy investors, but not all designer brands are created equal on the secondhand market.

Luxury brands hate the resale market because it can allow people to profit from fake products, especially when second-hand websites don’t have strict authentication controls.

However, another concern for expensive companies is that certain designs sell more expensively on the resale market and make resellers a fortune, which can cause consumers to disregard products that do not hold their value.

In the last four years, shoppers lost $1.3 trillion on new luxury items: bags, clothing, watches and jewelry, Wall Street Journal reported.

The resale market has doubled in size in the last four years and in 2023, luxury goods worth $49.3 billion were sold worldwide.

Reselling coveted designer handbags can generate huge profits for savvy investors, but not all designer brands are created equal on the secondhand market.

In the past four years, shoppers lost $1.3 trillion on new luxury items: bags, clothing, watches and jewelry.

Hermès bags are so sought after and exclusive that aspiring owners are willing to spend a lot of money on a used bag to avoid having to wait on listings.

According to data from The Real Real, a popular online marketplace for selling luxury items, Louis Vuitton bags lose an average of 40 percent of their value when resold, even if they are rarer designs like this one that seen in Rihanna. he’s doing better than most

The brand’s iconic Kelly bag is named after Princess Grace Kelly and is now an expensive status symbol, which Kyle Richards is shown holding here in Epsom leather with palladium hardware. The Real Housewives star is an avid bag collector, and at Hermes in Paris with brand executive and Whisperer VIP Michael Coste.

Hermès bags are so sought after and exclusive that aspiring owners are willing to spend a lot of money on a used bag to avoid playing the Hermes game, which typically involves developing a relationship with a sales associate, an expensive upfront expense, and a list of wait. of a year or more.

A basic Birkin 25 bag retails for around $10,000, but can resell for $24,000 or more.

Hermès’ 25cm ostrich Birkin bags have proven rare, with only 25 sold at auction in the last decade. Its average selling price has surpassed $35,000 since 2020, and a 2021 Noir Ostrich Birkin 25 will sell for a generous $40,420 in 2022.

Rare Hermès bags bring in even more cash: a Himalaya Birkin set a world record in 2020 when it sold at auction for a whopping $382,295.

Birkin bags are not just a fashion statement: they are an indication not only of wealth but also status and, often, fame.

Stars like Kyle Richards, Victoria Beckham, Paris Hilton, Pippa Middleton, the Kardashians and, of course, Jane Birkin herself, have all wielded Birkin bags at some point.

The brand’s iconic Kelly bag is named after Princess Grace Kelly and is now an expensive status symbol.

On average, second-hand Hermès bags cost 25 percent more than new ones purchased directly from the store.

While used products from luxury brands like Hermès, Patek Philippe and Rolex make more money than their new versions, most other designers have lower resale values ​​than the original price.

According to data from The Real Real, a popular online marketplace for selling luxury items, Louis Vuitton bags lose an average of 40 percent of their value when resold.

An ostrich Birkin like the one seen here on Jordyn Woods can fetch $40,000 on the resale market, depending on size, color, hardware, and condition.

Beth Silverberg, a resale market expert and savvy investor, insists that designer handbags are as lucrative as real estate, art, and even stocks.

Christian Dior bags lose half their value on the resale market.

Meanwhile, other brands are seeing drops in their resale value: Burberry’s average has fallen 17 percent since it hired its new creative director at the end of 2022.

Paris-listed luxury group Kering, which owns Gucci, Balenciaga and Bottega Veneta, has seen its values ​​fall, with its three main brands falling 10 percent, 14 percent and 23 percent respectively.

Chanel increased the price of its popular mid-sized Classic Flap bag by a staggering 70 percent during the pandemic, but the bag’s resale price has yet to reach the new label.

Some designer brands attempted to interfere with competition in resale markets by partnering with them, a model attempted by Gucci, Stella McCartney and Burberry, but their efforts were short-lived and largely unfruitful.

Beth Silverberg, a resale market expert and savvy investor, insists that designer handbags are as lucrative as real estate, art, and even stocks.

Beth Silverberg is pictured holding a vintage white Hermès Kelly bag that she purchased for $600 but has a retail value of $15,000. She also holds a rare hot pink Chanel bag purchased for $6,000, and an extremely rare Birkin 20.

Silverberg, a former professional poker player, estimates she has made more than $100,000 buying and selling handbags from brands such as Chanel, Hermès and Louis Vuitton since she started her collection at age 16.

And its profits will only grow after a report from wealth manager Credit Suisse projected that handbags would be one of the best ‘collectible’ investments of 2023, overtaking jewelery and art in terms of resale value.

“My first bag was a Louis Vuitton 30 Speedy that I bought for $150 with tips I received as a waitress,” the 55-year-old from Pennsylvania told Dailymail.com.

‘I sold mine about $600 years ago, but now they’re worth $1,500.

“I’ve always invested in stocks and shares, but my bags have far surpassed anything I’ve done traditionally.”

REVEALED: Buying a coveted Hermes Birkin or Kelly bag can net you a HUGE profit on the resale market – but there’s two popular luxury brands whose purses lose up to 50% of their value

By