Due to the current global situation, people are now more careful about where they’re spending their hard-earned cash, particularly when it comes to something non-essential like fashion. Most people now require their clothing to provide them with a high return on investment, whether financial or emotional. These are called investment pieces, a term that anyone who is even mildly interested in fashion has probably encountered multiple times.
Investment pieces are timeless articles of clothing that can withstand the test of time — both in terms of quality and trends. These pieces are made out of durable material that can take on a bit of a beating, and their design is classic and enduring. In short, these are pieces that will last a lifetime and serve as a bit of a financial safety net in the future should the owner choose to sell them.
There are certain pieces that are more sought after than others, thus offering the most resale value. Knowing which pieces to invest in is important if the goal is to receive high financial returns in the future, but it’s also necessary to know how to take care of these pieces. Below is a short guide on how to get the best value out of investment pieces and which pieces are worth investing in.
How can you get the best resale value on investment pieces?
Use high-quality, detailed pictures when listing it online. As a general rule, buying secondhand luxury items should be done in person so that the buyer can do a thorough physical inspection of the item, but not everyone has the time to do this. The best way to entice prospective customers to buy pre-loved investment pieces online is to provide them with high-quality, extremely detailed pictures of the items. If you’ve got the money to spare, hiring a professional photographer or a fashion and jewelry retouching service ensures you’ll get the best possible photos to share.
Choose the right brands. If you’re shopping for emotional investment, brands don’t matter if you truly love the piece you’re eyeing. However, if you want to be assured of solid financial returns in the future, you have to focus on the right brands. Big-name brands like Louis Vuitton, Gucci, and Chanel have the biggest return on investments at the moment. Furthermore, there are certain iconic pieces produced by these brands that yield even higher profits such as the Chanel Boy bag or the Louis Vuitton Speedy bag.
Take good care of the pieces. You can still wear your favorite items out, but you have to be extra careful with them. The more signs of use the item has, the less money you’re going to get for it. So, avoid wearing them out too often, and have them periodically repaired or restored by a professional service to ensure that they look good as new.
Keep an eye out for trends. Trendy items can sometimes be investment pieces too. Trends may come and go, but they eventually return with full force, whether they’re items like bell-bottom pants or a brand like Calvin Klein. Always be on the lookout for what’s trending when thinking about which of your investment items to put up for sale and be sure to sell when the time is right.
Perform market research. Do a thorough scan of the current market to see what your item is selling for on the different platforms. This will help you come up with an idea on how to get the price for your listings.
Which pieces have the best resale value?
Chanel 2.55 Bag
The Chanel 2.55 bag is among the signature staples of the brand that debuted in February 1955. They come in a variety of sizes, textures, and colors, but the most basic is the aged calfskin style with gold-tone metal which retails for around $3,200 to $3,800 and can sell for $4,000 to $5,000 or more depending on the condition and the item.
Rolex watches are among the most coveted timepieces in the market. A typical Submariner style retails for $7,500 and can appreciate in value to almost $9,000 depending on the condition and age of the item.
Christian Louboutin Shoes
Shoes generally don’t yield the best returns since they get the most wear and tear, but that doesn’t apply to Christian Louboutin shoes. Of course, they still need to be in good condition, but generally, these shoes are in high demand in the resale market. A basic pair of black Louboutin pumps go for $4,000 and may net you upwards of $5,000 if they’re hardly worn and still in excellent condition.
Burberry Trench Coat
The iconic Burberry trench coach is an enduring British fashion staple that appreciates in value over time even with constant use. Their classic beige coat with its signature tartan lining starts at $795 and may fetch upwards of $1,000.
These are just some of the most iconic pieces that have been known to provide the highest returns on investment. The price you’ll get depends on the style of the item, the condition, and the brand. So, it pays to shop smart.