A good investment piece should be like a good partner – reliable, timeless and the perfect fit. In fact, like a good partner, there is a reason we spend so much time and effort searching for a quality piece to invest in, they’re generally going to be around for the long run. There is not much point spending a fortune on something if it’s heading straight to Vinny’s once the season is over.
Our desire to own timeless pieces are the reason that luxury brands such as Chanel, Gucci and Ferragamo still exist now. The quality and prestige make items substantially more attractive for buyers and far more worthwhile to purchase compared to trend pieces that last just a season or two. It is also their emphasis on quality design that has given them ‘cult’ status within the fashion world.
So why is investing in items a good idea? Here are the top 5 reasons to invest in any item – clothing, shoes or jewellery – in my opinion.
- It lasts longer. Surely you’ve heard the recent study by online retailer Baghunter that shows investing in a Hermes Birkin bag is safer and more worthwhile than investing in gold or the stock market since the value of the handbag has increased in value by 500 per cent in the last 35 years. While purchasing pieces that are on trend is great, it isn’t worth spending a fortune on these products. Its more worthwhile for your bank account if you buy trend pieces from chain stores and invest in one or two items a year that will last and go with everything else in your wardrobe, including the trend items.
- Cost per use/wear. Think about this one carefully, a cheap handbag or pair of shoes will most you about $60-$100 a pop and generally fall apart after a year or so. A designer piece may cost upwards of $800 but you’ll have that piece for a long time. If we do the math of daily use on a $1,000 designer handbag over a year its less than what you would spend on coffee per day.
- You’ll end up handing it down to your own children, nieces or nephews or even grandchildren. This one goes hand in hand with the first point. Because investment pieces tend to last longer, especially bags and jewellery, you’ll be able to pass them down through generations. By that time each little piece will have their own story to tell. You can’t tell me you didn’t raid your parents or grandparent’s jewels as a little girl and wonder what it’d be like to own your own beautiful jewellery. So, each time you buy an investment piece think of it as a future family heirloom.
- Wearing investment pieces means you can skimp on the rest of your outfit. A Balenciaga leather jacket can be paired with even the most inexpensive of jeans and t-shirts and still look amazing. Similarly, a great trench coat or pair of jeans that actually fit means you can spend more money on trends that will come and go to match your investment pieces! Investment pieces can be used to dress up an entire outfit. Items such as watches, jewellery, handbags and shoes can instantly transform an ordinary outfit into an amazing one.
- Finally, they are so versatile! These pieces are designed to stand the test of time which means dropping a large amount of money on a decent winter coat, a trench coat or a tailored LBD (thank you, Chanel!) is worth it because it means they WILL last and you WILL be able to wear them season after season.
Just remember, much like its okay to have a fling in life, it is okay to have a fling with trends. Let them hang around for a couple of months, let them make you feel good but don’t get too attached. When it comes to serious commitment 3in fashion don’t waste time, effort and money on a trend.
Say ‘I do’ to investment pieces because just like a good partner, you’ll be able to keep them forever.