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Chanel, Balenciaga, Louis Vuitton. These luxury brands speak for themselves. They are not only timeless classics, but they can be a great investment as well. According to The Business Of Fashion, designer bags in particular have been seen to retain their value over time thanks to brand trust and classic styles.
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As the outlet noted in a recent article, “As top luxury labels raise prices and tighten distribution, designer bags are garnering higher prices at resale, with some styles from coveted brands retaining a significant portion of their retail value long after purchase.”
During the pandemic, accessibility has diminished due to supply chain issues. Given that people are less likely to spend money going out to restaurants (or vacations) during the pandemic — and instead focused on goods — it has driven up demand for said goods, particularly on the resale side.
Designer Bags Hitting High Prices at Auction
Designer bags are a discrete category at luxury auction houses such as Sotheby’s and Christie’s, per The Business of Fashion, where bags are garnering high prices from bidders. Further, according…
