It's in THE BAG

How much would you pay for a second-hand bag? With the rise in popularity of older, iconic bag styles, it’s time to start saving because resale is the new retail

- Divya Bala

Four o’clock in the morning is an alarming time to drop $5000 on a handbag. But that’s exactly what Bree did. “In my defence, it wasn’t exactly a spur of the moment decision,” she tells marie claire. “After a relentless four-month pursuit of my dream Chanel bag, a Google alert woke me up and with barely a nano-second of hesitation I added to cart and parted with a full pay packet. I might be eating beans and staying in for the next month, but at least I’ll have my pink tweed Chanel in my hot little hands. And, when you think about it, it’s a smart investment because it will increase in value.”

Bree is not alone, nor is she wrong. Courting a luxury handbag is akin to cultivating a new friendship, and we come to know the object of our affection intimately - on a first-name basis, of course: Kelly (Hermès), Jackie (Gucci) and Sofia (Louis Vuitton). We admire the way they present themselves, and are empowered by their presence at our side. We entrust them with our secrets and our most essential possessions, and as we become closer still, we begin to understand the depths of their value. And just like an enduring friendship, the value of a truly iconic luxury bag increases with time.

Indeed, the luxury handbag category is one of the fastest growing segments in the luxury resale market (valued at some $US33 billion in 2021 and growing four times faster than traditional retail), with luxury resale site The RealReal reporting its sales increasing by 22 per cent in 2020.