Louis Vuitton or Gucci? Here’s the handbag worth the investment
Some South Africans are choosing to carry their investments on their arms rather than invest traditionally.
In South Africa, an increasing number of individuals are turning to designer handbags as a form of investment, moving away from traditional assets. Luxity, a platform for buying, selling, and consigning authenticated pre-owned luxury items, has observed this trend. Co-founder Michael Zahariev highlighted how certain handbags can appreciate in value over time, while others may depreciate.
He cited the example of a Hermès Birkin bag, which could potentially fetch twice its original price within five years, while a similar Louis Vuitton Neverfull MM bag had increased by 12% and a Gucci Marmont had decreased by the same percentage over a year. Despite the allure of high-value items, Zahariev emphasized that most pre-owned luxury purchases in Africa are significantly lower in price, with 57.7% of transactions under R10,000 and the median purchase amount remaining at R8,000.
Written by urgent.news from The Citizen's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
