Antiques: Handbag market continues to thrive

Early bags were generally worn by gentlemen to carry coins and other precious or useful items. It wasn’t until the 17th Century that ladies started carrying a handbag. These bags were often homemade with a draw string and elaborately embroidered a real fashion statement of the day. Later in the 19th century a wide range of different sizes and fabrics were used and with the rise in popularity of train travel ladies wanted somewhere safe to carry their belongings, so the carpet bag became a fashionable accessory.

Today designer brands are very popular, and it is fair to say that luxury handbags are no longer just an accessory, but also a great investment. They can retain and even appreciate in value over time, while the owner also has the pleasure of using and wearing it. With more collectors tapping into an already limited supply second-hand prices keep rising, but which luxury handbags have the best resale value?

While there are several emerging players in the luxury handbag trade, there are three main brands that continuously, year on year, feature as the leaders in this market; Louis Vuitton, Chanel and Hermès. Each of these brands has its own unique style and appeal that makes them stand out from the rest. They produce luxury bags that continue to surge in resale value every year.

Boasting some of the most impressive resale values, The Louis Vuitton Neverfull Tote is proving to be one of the most in demand and iconic bags of this decade.

It was announced last year that Louis Vuitton will no longer produce the Louis Vuitton Bumbag, therefore many in the fashion industry have tipped this bag to be the next big earner.

Vintage Louis Vuitton trunks are another sought after area of interest many dating back to the 1930’s imagine the fashionable ladies of the day using these trunks on cruises dressed up to the nines in their beaded dresses and fur coats.

With retail prices increasing the pre-loved market for designer bags has risen, and even sometimes surpassing original purchase prices. The Chanel Flap bag currently retails at three times the price they were ten years ago.

The Hermès Birkin remains one of the most sought-after bags of all, with the black model featuring gold hardware commonly referred to as “The Holy Grail”. Certain outlets actively recruit staff to hunt down and purchase these bags, which adds to their rarity on the open market and ensures that their resale value is impressive. The Hermès Kelly is another example that holds its value very well.

Miniature editions of these brands are also worth mentioning, as they are produced in small quantities and therefore harder to come by. Limited edition and short-release styles also tend to retain their value incredibly well.

Other luxury bag brands that are producing good returns on investment are Bottega, Dior, Saint Laurent, Gucci, Prada, Miu Miu and Fendi.

Rarity is clearly an important factor affecting value, but condition also has a significant influence on the resale value of your luxury handbag - so it is important to always take good care of your accessory. Always store in the original dust bag, don't put it on the floor, take care not to scratch or snag it, avoid exposure to the elements such as direct harsh sunlight and rain.

Designer handbags continue to play a significant role in fashion, and the market is expected to continue to thrive.

Sheffield Auction Gallery include Vintage and Designer hand bags and accessories in our quarterly Fine Art auctions with the next sale taking place on 15th September.