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The investment of the moment? Buy luxury wallets

by ace
The investment of the moment? Buy luxury wallets

In February of this year, beauty tycoon Kylie Jenner and member of the Kardashian-Jenner clan showed her home to Architectural Digest magazine. In addition to pop-filled art scattered with various sumptuous visions, Jenner has photographed her wallet cabinet, which she is especially proud of, which contains about 400 pieces, bringing together brands such as Hermes, Chanel and Dior. In another 2018 YouTube tour, he adds, "It's a good investment." This is the kind of statement whose futility would make us roll our eyes at first, although Jenner is not exactly wrong.

Hermès portfolios have created a unique secondary market and have been resold at auctions at prices that would make anyone jaw-dropping. Some even say that a Hermès wallet today is a better investment than gold. But the French house is not alone: ​​luxury wallets, like sneakers, may be becoming a major asset class, suggesting that we stop thinking of Kylie Jenner's collection as just a celebrity closet and start to see it as an investment portfolio.

Charles Gorra, founder of the Rebag luxury bag resale site, most recently introduced Clair ("Comprehensive Luxury Reseller Rating Index"). It is an algorithmic tool that shows owners the resale price of a wallet if it is immediately sold to Rebag. Unlike other resale websites, the site pays the seller immediately before the sale is made, instead of giving him only a percentage of the sale. Over the next few months, Gorra will introduce monitoring tools that will allow sellers to see prices rise and fall, and thus calculate the future value of a piece.

At the moment, the pioneer of this market is StockX, a retail site that was valued at over 900,000 euros in June, and treats fashion pieces as bargaining goods. If Stockx is the New York Exchange of accessories, with buyers and sellers dealing directly with each other, the (significantly smaller) Rebag is trying to become the US Nasdaq stock market. This shift in the market reflects a move away from the old habit of collecting it-bags, almost as a sign of social status, that fostered the luxury market, to make way for more calculated purchases. In August this year the women's wallet market was valued at 5.3 billion euros in the US, down from 6 billion two years ago. One of the conditioning factors may be the tendency of smaller bags, which usually cost less.

Moreover, the time when a single portfolio dominated a brand's sales cycle, such as Paddington, Chloé, or Bayswater, Mulberry, is extinct. Instead, tastes are more fragmented and brands famous for their logos must increasingly share territory with smaller brands, not to mention increasing awareness of sustainability. As a result, every purchase is more rational rather than emotional, just as anyone who buys a car thinks about the future investment value.

It is no coincidence that Charles Gorra, in an interview with The New York Times, describes Clair as the future equivalent of the Kelley Blue Book, the automotive benchmark that uses new and used car prices to find fair value. At the moment there are almost 10,000 models in Clair, and the numbers are constantly increasing. Baggage holders do not need to be Rebag customers to add wallets and check their value. Clair can tell you, for example, that the Louis Vuitton Metis fanny pack would be worth almost 100% of its original value, and that, for example, Papillon, a more common model of the French brand, is close to 40%. Although price history is not yet available to the public, Rebag already has enough information to publish "Clair Choices", a list of models it recommends to buy or sell, just like a stock analyst. Gorra confessed in the same interview that the perfect bet in the wallet market is Hermès (which maintains an average of over 80% of the original value), followed by Chanel, Louis Vuitton, Gucci and YSL. The valuable component here is rarity, which is part of the reason why Hermès is so dominant, keeping supply below demand and often releasing limited edition pieces. And this is where the Kardashians return to the scene. Kylie isn't the only clan member to have a wallet closet. Sister Kim also has it and the matriarch, Kris Jenner, has one dedicated exclusively to her Birkins. Whether we like it or not, in this case the most influential television family has proven once again that it has been one step ahead of the trend.

. (tagsToTranslate) luxury wallets (t) bags (t) brands (t) Rebag (t) investments (t) Clair (t) StockX (t) Kardashians

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