What is the best way to collect designer bags?

[CTstyle]

I have so many curiousities about the best way to start collecting, the best way to buy (charge or cash?)
Should you start with a current trend or start with vintage? Is it better to charge it or to save up to buy it with cash or check? How much and how fast do the values sink? I mean, what makes a bag rise in value as it becomes a vintage and what makes a bag lose value? Which ones are most people's "first" designer bags? Do you keep more or resell more? Do you choose which ones to buy according to the market/resell value or do you just go for what you like?

 

[Tushka_BeLLa]

WOW those are some really interesting questions! I'd love to hear what softgrey has to say...

 

[Love$2shop]

I've been collecting bags for the last 10 years. Here are my two cents:
I think you should ALWAYS go with what you LOVE. Trends are just that - TRENDS. They are never around long enough and unless you are a part of an "IT" crowd in Hollywood, do you really care to keep up with them? Work around YOUR style. YOU are the one who is going to wear the bags in the end.
Never buy with intent to sell (you will only get disappointed). NEVER charge the bag unless you are going to pay off that statement as soon as it comes (otherwise the bag is going to cost you double because of CC high interest rates)!
My first designer bag was Moschino pochette (still have it!) and what really started my passion for collecting is Louis Vuitton! Personally, I have yet to get rid of any of my bags! Just recently, I got into Fendi SPY bags but again, not because they are trendy and everyone has them, but because when I saw them in the store, I fell in LOVE instantly!!! They are truly a work of art!
To sum it all up, follow your heart and not some fashion magazine's what's IN and what's OUT stats! Good luck!

 

[CTstyle]

Thank you for the very thoughtful advice. I hate credit cards but I've seen some discussion here about people charging the bags, so I had to ask. So it seems like personal style trumps the trends, and if you want to resell, go for vintage collecting only or wait to see what looks like it will become vintage in enough time.

I've been collecting bags for the last 10 years. Here are my two cents:
I think you should ALWAYS go with what you LOVE. Trends are just that - TRENDS. They are never around long enough and unless you are a part of an "IT" crowd in Hollywood, do you really care to keep up with them? Work around YOUR style. YOU are the one who is going to wear the bags in the end.
Never buy with intent to sell (you will only get disappointed). NEVER charge the bag unless you are going to pay off that statement as soon as it comes (otherwise the bag is going to cost you double because of CC high interest rates)!
My first designer bag was Moschino pochette (still have it!) and what really started my passion for collecting is Louis Vuitton! Personally, I have yet to get rid of any of my bags! Just recently, I got into Fendi SPY bags but again, not because they are trendy and everyone has them, but because when I saw them in the store, I fell in LOVE instantly!!! They are truly a work of art!
To sum it all up, follow your heart and not some fashion magazine's what's IN and what's OUT stats! Good luck!

 

[ambidextrous]

LV and Hermes increase their prices every year, with LV it's already twice per year... some thoughts about reselling though I'd never buy something that I don't want bad enough to never think of giving it away

 

[leyla m.]

i wouldnt start buying a bag with the thought of starting a collection. there is nothing better than wanting a specific bag and appreciating it once you have it.
therefore NEVER buy on credit (unless its paid back the next day) and only buy a bag that you like.
my personal advice, classics will always be around and you can surely not go wrong buying one!

 

[Luna]

^^ Agreed.

I only have a "collection" because I keep buying bags... and only bags that I REALLY NEED to have.

I usually don't charge anything unless I have the money sitting around... or if I have at least half of it... then I'll charge it to my 0% interest Credit card.

those always come in handy.

I think it's always good to have a mix of classic and trendy... don't always go for classics, and don't always go for trendy.

And I only resell if I haven't used the bag in more than a year.

 

[mundodabolsa]

as for the credit card debate, it goes w/o saying that you should never buy a bag you don't already have the money for, however...

It IS a good idea to use some cards, specificially Amex, because they have really good theft protection. Bags are easily stolen things and I believe Amex refunds you in full if the item is stolen within 90 days.

 

[PrincessImp.]

There's a lot of valid and great advice that has been posted here.
Always buy what you love and never with the intent to sell..you may be disappointed with the low profits.
Never charge a bag to a cc if you can't pay it off...honestly, no bag is worth getting into debt for!

 

[jujulabee]

I certainly agree with all of the advice -- clothing and bags are NOT an investment especially new bags which will only sink in value as they become used. Maybe if you put your bag away never used for 100 years.

There was an interesting article several months ago in New York Magazine in which the owner of a vintage clothing shop assessed the value of a woman's wardrobe -- she had some fabulous stuff because her mother had been a very stylish woman and the daughter had also acquired wonderful stuff -- both new and also vintage.

I was astounded by how little the stuff was worth. A few of the items that were considered iconic (like Courreges' original white go go boots from the mid 1960's) were a tad valuable but really not if one considered inflation dollars and putting the money in a mutual fund for 40 years.

I would certainly doubt that a Chloe Paddington -- mass produced and relatively common is going to have any sort of real re-sale value in terms of appreciation. The really high end vintage stuff is fantastically rare and/or was couture to begin with.

And very stupid to charge any consumer purchase on a credit card -- if you can't afford to pay cash, you can't afford the item. To think otherwise is to buy into the crap that advertising is pumping at you -- Take a good look at bags in your price range -- A Chloe is really not that much nicer and is certainly not worth living on cat food.

 

[CTstyle]

as for the credit card debate, it goes w/o saying that you should never buy a bag you don't already have the money for, however...

It IS a good idea to use some cards, specificially Amex, because they have really good theft protection. Bags are easily stolen things and I believe Amex refunds you in full if the item is stolen within 90 days.

I wonder if the pre-paid cc's have theft protection too?

 

[fashion_boi_01]

Louis Vuitton has really good resale value, especially the limited edition lines once they're discontinued. Used Graffiti and Cerises pieces sell for above retail on eBay.

 

[emma peel]

i think putting things on credit cards isn't bad if you buy one good bag a year. buying what you want is key, don't worry if it seems like it's on the wane if you love it. for example i bought a balenciage le dix two plus years ago, thinking "oh well, i love the bag, so what if it seems trendy, i have the money for it now finally" and i have used it all the time, even if it waxes and wanes in popularity. the sad point of fashion is planned obscelesence, so you have to ride the wave of your taste and don't get caught in the riptide of regretting what the trend reports will tell you is "out." If you love it, you can make it a classic element of your wardrobe, and that's a signature style for you.

 

[PrincessImp.]

I put my designer purchases on cc because they help me to earn points which I can exchange for trips, vouchers, etc.
But still, morale of the story is, only charge if you can pay it off at the end of the month!

 

[ambidextrous]

And very stupid to charge any consumer purchase on a credit card -- if you can't afford to pay cash, you can't afford the item. To think otherwise is to buy into the crap that advertising is pumping at you -- Take a good look at bags in your price range -- A Chloe is really not that much nicer and is certainly not worth living on cat food.

not everyone likes to take cash around with them, especially if the purchases are worth several K's. if you can pay the bill off at the end of the month you'll get a good credit history and use a technique of financing, so that isn't stupid after all

financing aspect:
you can delay to pay for smth thanks to the card for up to 6 weeks, even if you have the money and get interest by having the money on your account while you don't have to pay interests for the delay...

if you know for sure you have the money on a certain date, paying interest for a certain time might even be cheaper than buying an item later given price hikes.

 

[jujulabee]

Sorry I didn't literally mean that one should pay cash or check only -- I charge EVERYTHING including groceries because I accumulate points.

Charging does provide very real benefits in the event of problems.

However, I used "charged" in my previous post in the common sense of people using credit because they don't have the funds to pay for the purchase in full that month.

I would never pay cash for a designer bag -- or anything else - because of all the protections charging provides.

 

[Love$2shop]

Louis Vuitton has really good resale value, especially the limited edition lines once they're discontinued. Used Graffiti and Cerises pieces sell for above retail on eBay.

Not really. Graffiti speedy and keepall are the only items that go for more $$$ that they retailed for. Cerises and other graffiti items (like Almas and pochettes) you can pick up for WAY below retail. LV in general does have a good resale value but don't expect to make HUGE profits on many of their items unless they are SUPER RARE or VIP items.

 

[Love$2shop]

I put my designer purchases on cc because they help me to earn points which I can exchange for trips, vouchers, etc.
But still, morale of the story is, only charge if you can pay it off at the end of the month!

Thank you!!! I think that is the point a lot of the posters were trying to make (including myself).

 

[YASSIRA]

I put large charges on my cc for the miles!!!! I go back home in First class!!! yay!!! I never bought anything thinking about selling it!!I guess I love it so much I don't want to get rid of it!!!

 

[drusilla]

I would think the best way to COLLECT instead of buying to wear would be vintage bags and hunting for rarities. Since that involves resale shops, though, you'd have to have a good eye for authenticating. I don't think you'd come out with any margin of profit in the future with buying current bags, especially anything "it" that no one is going to care about in a year.