Depending on who you are and the value you place in clothing, bags and accessories, you might consider these purchases to be an investment. Beauty, and value, is in the eye of the beholder, which is why many savvy shoppers are taking steps to secure beautiful pieces of fashion and protecting them as the assets they are. Today we are going to discuss the reasons why high-end fashion is proving to be a wealth generation tool for some, and a possession to have and protect for others.
Authenticate Your Designer Goods
Designer labels will retain their value for decades to come, and this would signal that clothing, bags and accessories can be considered an investment. If you buy a Louis Vuitton handbag and want to then sell the Louis Vuitton handbag – what is the process? The next owner wants to be as sure of this investment as you are, and so they will likely want to see an authenticity certificate, a receipt, and to receive the handbag in its original packaging. When it comes to collecting and reselling designer goods – you will not get far without these, especially as counterfeit goods are getting more and more sophisticated and convincing.
In the event that your designer goods are stolen, you will not be able to claim them as lost assets and investments without the same authentication. Whether you are buying new or second-hand, get the right documentation and secure this paperwork in a safe place and through an electronic copy also.
What Happens To My Goods If Trends Fade?
Just like shares in declining companies and properties in unsavoury suburbs – what happens if the fashion you invested in becomes out of fashion? This is a realistic possibility if you choose to invest in seasonal clothing, bags and accessories – which is why you really only see the iconic Chanel bags and typical Hermes print scarves at a designer consignment store. These prints and looks are eternally in fashion and are going to hold their value for far longer than a flurescent bag that is the toast of fashion week, but over with come winter time.
If you are serious about building a wardrobe of investments to hold on to or sell, start with the classic pieces and only foray into seasonal goods if there is a good reason to and you are confident it will be adored in a decades time.
Fast fashion vs. quality goods
If we change gears and look at clothing and bags as wearable fashion, there is always a claim to be made that spending more for the sake of clothing longevity is a great investment. Too many consumers fall for cheap price points, but ultimately end up having to replace these items when they break down too soon or lose their original form. Buying quality means you are only buying once, and it really pays to be more invested in the labels you choose and the materials that you wear.
You also want to be thinking about which wardrobe items can be worn through an entire year, as opposed to those that can be worn for one season or even one purpose. Which clothing, bags and accessories are going to see your money go the furthest?
Today we have discussed how you can make your high-end fashion a legitimate investment that can be leveraged for the future. You now also know how to mitigate changing fashions and why buying quality is the ultimate way to get a great investment. Like anything we place value in, maintaining quality and doing your research is going to give you the result you want.