Move over gold and diamonds, handbags are the newest wardrobe jewel

Diamonds are forever, a girl’s best friend. Marylin Monroe might have been right during her time but girls today like Victoria Beckham, Kim Kardashian, and Jennifer Lopez have challenged this notion by transforming the status quo to ‘handbags are a girl’s best friend’. The handbag today is forever, aging into prosperity. Hermes, Dior, Louis Vuitton, and many more luxury brands have set the bar too high-even for diamonds and gold.

Starry fansThese luxurious bags act as an extension of one’s personality and celebrities don’t mind splurging in such a power show. Victoria Beckham reportedly has a collection of bags worth $2 million, including a vintage Chanel quilted handbag, the Burgundy Birkin and Miss Sicily, and a gift from Dolce and Gabbana. Kim Kardashian’s collection includes masterpieces like the Louis Vuitton Miror Alma, Hermes Himalayan Birkin, the So Black Birkin, and the Dior Saddle Bag. The iconic status that Fendi's Baguette enjoys has been ubiquitous! The celebrated accessory has seen a meteoric rise over the years, witnessed modifications, and is carried by a number of celebrities.

An investment for a lifetimeThe question is, when handbags give you more returns than investments in the stock market and have a greater return than buying gold, why not buy one of the classics? The Hermes Kelly and Birkin, the Dior Saddlebag, and Bottega Veneta’s Cassette Bag are just a few dearly priced arm candies that are known for their craftsmanship and elegance, which earn the owners a lot of envious looks! According to Deloitte and Credit Suisse, the Hermès Birkin saw returns of 38 percent on average in 2020, making it the luxury collectible with the highest returns. In March 2023, Chanel hiked its costs by 16 percent from 2022 and this move has not discouraged any luxury bag fans. Interestingly, a Galliano-era Dior saddle bag would yield a 109 percent return on investment if purchased in the early 2000s, and according to Forbes, the bag happened to retain 89 percent of its worth on an average through 2022.

Another jaw-dropping fact about the Himalayan Birkin is that it happens to be the most expensive handbag ever sold at a European auction with an 18-carat, white gold, diamond-encrusted lock, fetching £162,500 at Christie's London in June 2018.

Handbags have emerged as an iconic piece of modern-day fashion, inseparable from one’s personality, and with the lucrative new age trends, everyone is investing in these style-studded symbols of prestige.

By Krisha Mankarmi