It's one thing to own a trendy, functional bag you may find in your go-to fast fashion stores, but it's entirely another to get a designer handbag. These bags serve more than their purpose of keeping your things - most women would want to get at least one luxury handbag in their lifetime. But since socialites, celebrities, and other important personalities sport them all the time, you wouldn’t think that these handbags don’t come with a hefty price tag.
So why are luxury handbags expensive? Highly-trained artisans handmade these bags using quality materials; that's why they're also sturdy and may even last a lifetime. Luxury handbags are considered a worthy investment because they retain and sometimes exceed their selling value with their style and brand popularity. Their exclusivity makes it challenging for everyone to simply find and purchase a luxury handbag, making these bags a status symbol for women of only a certain stature.
What Makes Luxury Handbags Expensive
Designer purses from the best luxury brands may carry a hefty price tag because they're made with high-quality material. These quality bags become great investments due to their resale value and the promotion or reaffirmation of their wearer's social status. Here are reasons why luxury bags come with astonishing prices:
1) Quality Materials
Luxury brands craft designer bags using rare and expensive materials, making them reputable names in the fashion industry. Aside from their devotion to the art of making bags, highly-skilled artisans ensure that the items they create may last for a lifetime. They use premium leathers for their handbags and precious metals for ornate clasps and other hardware.
An example of a designer handbag with the best raw materials is the famous Hermès Birkin bag, named after the English-French actress Jane Birkin. Designer bag aficionados, such as the singer and fashion designer Victoria Beckham and makeup mogul Kylie Jenner, keep their collections of this bag in different sizes, colors, and materials used. Hermès’ most expensive model is the Himalaya Birkin bag, made with rare albino alligator skin.
Bags produced by famous designer brands are also expensive because they're handmade by the best fashion house artisans worldwide. Talented and highly-skilled craftsmen devote hours, sometimes even years, assembling a single designer bag. The hours they spent creating the bags add more value to its price, unlike mass-produced items in other fashion houses.
These artisans also pay the most attention to details and intricacies as they make each bag by hand. They ensure perfection down to the last stitching. Assembling luxury bags by hand will also allow the bags to last for a long time, enough to make it a good heirloom.
Expensive handbags are created by the biggest fashion houses that have to build their prestige and brand recognition through the years. Some luxury handbags may look like common purses you see in random stores. However, these purses don’t exude the same elegance and prestige that came with the brand logo of luxury handbags. That's why people hold those who wear designer bags in high regard.
Another factor that's making luxury bags expensive is their exclusivity. The best designer handbags are not easy to procure. A luxury consumer can't just visit a store and buy a luxury handbag they want because most items, especially popular ones, come with a long waiting list. Famous luxury brands limit the production of their bags and make them more exclusive. This is one of their ways to maintain their luxury handbags' high value.
The Hermès Birkin bag, for example, is a bag with the utmost exclusivity. While some luxury handbags have waiting lists, Hermès Birkin bags don't, though they used to have one. Anyone who wants to have a Birkin bag must wait to be offered one by the luxury house. They also get to choose the size and the color of the bag, not the luxury consumer. Another option is to spend a huge amount of money only to obtain a Hermès Birkin bag.
5) Retains Value
Some people have said luxury bags are becoming a better investment than the stock market or even gold. That's because these expensive purses retain their value over time and may sometimes exceed it. Personalities consider their bag collections not only as an absolute luxury but also as passive income that promises huge returns. Once the bags turn vintage, their price on the resale market increases.
For example, a Hermès Birkin bag retains an average resale value of about 80% in the secondary market. Since it's the average, it can go higher depending on the exclusivity of the bag. According to a study, the price of Birkin bags may increase by over 300% after 10 years.
The designs of luxury bags are timeless. They set the trend for what would be the next fashion statement. Even if you only wear plain clothes, having designer label bags will take your outfit to the next level. What sets these bags apart from trendy bags is that they never go out of style, even after many years.
7) Status Symbol
Luxury bags are sometimes dubbed as accessories for royals. They symbolize sophistication, prestige, and a luxurious financial position. Luxury handbags are expensive because they serve as status symbols, which allows the wearer to gain respect and admiration from the public.
Cost of Luxury Handbags
How much do these luxury handbags cost? The price of a luxury bag depends on the brand, the model, and yes, even the location where you had bought them. They cost from about $595, which is the Louis Vuitton Pochette bag to $3.8 million with the Mouawad 1001 Nights Diamond Purse. The Mouawad diamond purse is followed by the $2 million Hermes Kelly Rose Gold.
Those planning to invest in luxury bags should invest in what they call "the Big 3": Hermès, Louis Vuitton, and Chanel. These are the brands with a high resale value, so they become worthy investments. The popular Louis Vuitton Neverfull retains a 91% to 96% resale value, while the Chanel Boy bag has a 90% resale value.
Visit HG Bags for Authentic Luxury Handbags
Luxury handbags are truly expensive because you're paying for more than just a functional purse. If you're going to invest in luxury bags, focus on the best brands and limited edition pieces. If you only want to splurge on something nice, it wouldn't hurt to check out other brands, too. Just make sure to get your luxury bags from a reputable store or reseller, such as HG Bags Online.
Here at HG Bags Online, we offer a wide variety of brand new and pre-owned luxury handbags, which are all guaranteed authentic. Get your hands on the luxury handbag that you’ve always wanted and visit HG Bags Online now!
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