Why Investment Pieces are Worth it
Our relationship with fashion is changing. In the last 10 years, we have seen a steep rise in the resale economy with sites like Depop and Vestaire Collective. But in more recent years, we have seen the rental space boom, giving fashion fanatics everywhere an unlimited wardrobe. This shift in behaviour shows that we are paying more attention to what we buy with our hard-earned money and when we do want to spend, we want to make sure its the right purchase. The bottom line is that there needs to be a return on the investment. This return can be more than just financial in terms of resale value, but also emotional value or cost per wear. When it comes to investment pieces darling, there are a few things to consider before splashing out.
Firstly, is it timeless? Will this piece be a part of your wardrobe for years to come? Will you pass it down to your daughter or son? In our eyes, there is no point in spending money on something that is going to go out of style next season. That is why investing in timeless pieces will guarantee that your purchase was worth it. Something like a Rolex or classic YSL blazer will be something that you can adorn alongside your (rented?) seasonal trend pieces. If it’s a wardrobe staple then cost per wear will be low, offering you the right return. These items will also hold their value over time, if not increase. So, if you wanted to sell them on, it is likely you would at least get your initial investment back.
Secondly, do some research on what you are buying. Have a look at resale sites and see what similar items are going for. If the value is higher than the initial purchase then it will probably be worth it. As a general rule of thumb, iconic styles from classic luxury brands will always increase in value. For example, brands like Hermès, Chanel, Louis Vuitton and Prada tend to hold their resale value. Another aspect that helps drive up resale value is limited edition pieces.
Another tip is that accessories tend to sell better than clothes, including fine jewellery, watches and handbags. This is often because of their timeless designs that are often copied. However, one thing you must consider is the care of these items once they are in your possession. It is all well and good investing in something but if you don't care for it properly, well then darling was it really worth it?! Just like you, your investments need care and attention too so give them what they deserve. This will be attractive to buyers when it comes to reselling as your item looks as good as new.
So when it comes down to it what are good investment pieces then? Noelle Sciacca from luxury resale platform The RealReal says her top three pieces are “a cashmere sweater in a neutral colour, a luxe leather tote bag and delicate gold necklace.”
