With the exponential growth of the resale market in recent years, new high-end purchases can feel less emotional, and more strategic than ever before. Last year, luxury handbag and accessories resale company Rebag launched Clair, i.e., the Comprehensive Luxury Appraisal Index for Resale, which assigns a special code and market price for most high-end handbag models. Now that it's nearly a year into the launch, the brand is condensing the data it's gathered into a report that makes handbag buying less about a fashion choice, and more about smart investing.
You can now see which brands and styles are retaining their value in the resale market, which brands are steadily getting stronger, and which are getting weaker. Some of the highlights from the report include less than shocking revelations, including that Hermès handbags maintain 80% of their value, with Chanel and Louis Vuitton coming in at 63% retention. Interestingly, Bottega Veneta is one of the fastest rising labels when comparing 2020 vs. 2019, moving from 28% to 38% retention, with the newer styles holding the most value. Just as in the stock market, news at the company, like the naming of a new exciting creative director like Daniel Lee at Bottega, can influence item value.
CourtesyThe Bottega Veneta breakdown from Clair by Rebag
Another notable factor to consider when purchasing new bags is that when brands increase their prices, it does increase the value of the handbags already in your closet. When the Chanel Classic Flap shot up in retail this year, so did its Clair evaluation. Scarcity, which should surprise no one who has ever heard the name Adam Smith, also makes a bag more desirable. According to the Clair Report, the Louis Vuitton Eva Crossbody currently trades at 84% over retail simply because you can't just walk into LV and scoop one up.
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You can also now "follow" Clair codes so that you can stay up to date on the value of every bag in your closet. We are living in economically unstable times, and while luxury handbags are undoubtedly just that, a luxury, it's important to know all of the assets you have available to you. And if you are able to support the economy with shopping, making an informed choice that melds personal taste with an analytical approach feels very modern. If only Carrie Bradshaw had Clair when she was choosing all those designer shoes over bags.
Kerry Pieri is Harper's Bazaar's Digital Fashion/Features Director. Kerry oversees the fashion vertical for BAZAAR.com, including launching digital covers, styling celebrity features, and managing recurring features including Brand Watch and My Life in Three Looks. In addition, Kerry edits the “best of” each season, from shoes to bags, denim and coats, and is consistently looking for shifts in the fashion realm to lend a voice. Kerry formerly served as the Editorial Director of StyleCaster.com and as a producer at Full Frontal Fashion. She lives in New York with her husband Steve, and baby girl Lila Sky.
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