If you’ve been looking for ways to invest your money that isn’t tied up in stocks or bonds, there is another way to make a buck that you may not have thought of – your handbag! While goods like luxury handbags are a far cry from a reality purchase for most of us and are usually reserved for the likes of Hollywood celebs, if you do have the means to splurge on a real Hermes, Chanel or Louis Vuitton for example, even if it’s second hand, you may just have on your arm a pretty smart way to make bank.
How? Well, with new Capetonian start up company Luxity by Luke Calitz (pictured below), you can invest in highly sought-after bags, keep them and then resell them at a much higher value. Luxity is an online boutique store that focuses on buying and selling pre-owned luxury goods for men and women with discerning taste, providing affordable access to high end goods. Currently they stock and sell the likes of Chanel, Gucci, Prada, Louis Vuitton and Burberry to name but a few.
There’s a reason why they’re called investment pieces – like a fine wine, they only get better, and more valuable, with age. They’re higher quality and so can last up to a decade or more with the proper care, which in turn saves you money on buying a new bag every time your old one falls apart. But not all fine handbags are equal; just because it’s a luxury label doesn’t necessarily mean it will appreciate in value like another bag might. And that’s where Luxity comes in to help determine which items are investment pieces and how to go about finding them.
Luxity uses its online boutique to help you source and pay for exclusive brands not yet available in South Africa. Because e-commerce sales are generally less expensive than retail prices, you’re also bound to get good value on your purchase. Luxury brands at a discount? Yes, please! This metric works even better with pre-owned goods that have retained their value. To help its customers, Luxity offers an interest-free 60-day lay-by option to pay off their new investment handbag over as many instalments as they’d like.
For more information visit the Luxity website.