And we mean this literally. The next time someone teases you about your excessive handbag collection, tell them it holds investment potential.
JUST THIS MAY a handbag went under the hammer at a Christie’s auction in Hong Kong for a record price of HK$2.94million (US$380,000) after just 15 minutes of intense bidding, surpassing the estimated US$258,000. The Matte White Himalaya Niltoicus Crocodile Diamond Birkin 30, designed by Jean-Paul Gaultier in 2014, was bought by an unidentified Asian buyer. Only two of these bags made of the skin of the Niloticus (albino) crocodile, embellished with 245 diamonds on its 18k gold hardware, are produced every year. It’s no ordinary handbag, and its rarity explains its price tag. The previous record was US$222,000 for a fuchsia gold and diamond Birkin that had belonged to Elizabeth Taylor.
These figures reflect the rising resale value of highly sought-after designer bags that are limited in production or have a very long waiting period. A study last year by Exane BNP Paribas, in collaboration with InstantLuxe.com, revealed that the most coveted second-hand Hermès bags could sell for up to 20 percent more than the brand-new ones. Meanwhile, local e-tailer Reebonz observed through its inaugural luxury resale index last year that an Hermès preowned Lindy could sell for 120 percent of its retail price. Reselling handbags is a serious business, according to the number of indices for this secondary market.
Denne historien er fra August 2017-utgaven av Prestige Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 2017-utgaven av Prestige Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Double Take
Although somewhat dismissed by the contemporary art world as gimmicky, works that incorporate optical illusions remain immensely popular with the general public. Perhaps it speaks to our inherent need for something slightly magical in our everyday lives.
Plugged Into Wealth
Fintech advocate Carney Mak is bullish on disruptive technologies, but preaches deep understanding of business models before diving in.
Going for Green
SIMON ROGAN's visionary approach of cooking in tune with nature is inspiring chefs in Asia to be more sustainable.
TABLES TURNED
They could have their pick of the best schools, but more young super achievers from Asia are going to a hotel academy a choice they believe opens up more doors.
PRECIOUS HISTORY
Cleef Arpel TACHA VASSILTCHIKOV res her insights the jewellery house Peers preserving its patrimony and Heritage.
MARKS OF DISTINCTION
A clasp-free necklace that could be easily put on by the wearer, without assistance.
Colours of the Season
Thanks to K-pop stars, analysing colours to personalise make-up has surged, with theslategs service available from the boutique of Korean. brity make-up artist JUNG SAEM MOOL.
MAKING OF AN OPUS
In Hermes’ Barénia, in-house perfumer CHRISTINE NAGEL has realised a decade-long dream that harks back to her childhood stories.
Everywhere Care
Serums from homegrown skincare brand Blé de Fonty target more than just the face.
Pucker Up
Lip moisturisers are essential in Singapore’s air-conditioned environment. We share our personal favourites and introduce lip care that go the distance.
