It sounds like a lie you tell yourself to justify a mistake you really want to make, but we promise what we’re about to tell you is true. That iconic-as-iconic-gets accessory, the one that anyone knows means you’ve ‘made it’, the one that costs about the same as college tuition in the US? It’s actually a fiscally responsible thing to spend your money on.
The Birkin bag needs no introduction, but we love to talk about it, so we’ll offer some background anyway. Officially the most expensive bag in the world, this iconic style was designed by ineffable French design house, Hermès, in the 1980s. Named for French actress, Jane Birkin, the understated, boxy purse has become a status symbol that the likes of Victoria Beckham, Kylie Jenner, and Melania Trump collect with great panache.
Tireless demand (and the laws of scarcity) have driven Birkin prices up every year since its creation. Today, they cost between $12,000 and nearly $400,000, but, according to research by luxury resale store HEWI London, the bags are poised to increase in value over 300 percent over the next ten years.
Using data from the past ten years of Birkin sales and a current going rate of about $14,000, the retailer is projecting that by the year 2028, the same supple leather bag you bought back in 2018 will be selling for nearly $63,000. If you’re good at mental math, you’ll already have deduced that’s a value increase of $49,000.
If you’re looking to bring a Birkin into your life this year, in hopes of selling it in ten years time, your odds of seeing a profit are extremely high. Just don’t do anything crazy like take it out in the rain or leave uncapped ink pens inside.
Actually buying a Birkin direct from Hermès can take years — the bags’ scarcity is what keeps the demand so high, so it makes sense the brand would make them notoriously difficult to get ahold of. Rather, your best bet is to turn to a reliable and verifiable reseller.
If Birkin bags (or $14,000 down payments) aren’t your thing, Chanel Classic Flap Bags are another ultra-stylish cash cow, according to HEWI London. The retailer found that the classic Chanel style, which costs $5,500 today, will be worth $9,000 by 2028.
If your New Year’s resolution was to make smarter investments, or if you want to finally get the bag you know you deserve, it’s time to buy a Birkin.
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