BEST & WORST FASHION INVESTMENTS: 5 Rules to buy by
Notes below the video...
When I talk about investment here I am talking about buying pieces that hold their value the best - i.e. how much you will be able to recoup when trying to sell.
- Size matters. If an item is a particular “size” i.e. clothing or shoes then you will automatically reduce the audience to whom you can sell it to. Naturally this can can matter in varying degrees for example - a belt it can easily have extra holes put in to make it smaller. Or a dress can be taken in or let out. Shoes on the other hand - the size is the size is the size! A handbag, wallet or purse as we call them in the U.K. will fit everyone and especially if you choose a classic design should remain desirable to a lot of people for a long time.
- Avoid trends when purchasing designer goods unless you have a lot of money. “It” bags and shoes for example looking back the Chloe Paddington or more recently the Valentino Rockstuds maintain their value very well for the short term so are good if you are going to sell them within 18 months of purchase but in the longterm look dated and loose value.
- How will the item wear? Again shoes seem to be taking a bit of a brunt but one night out can make them look like you’ve run a marathon - unless you’re Mariah being wheeled to dinner then you’re going to struggle to keep them pristine. Therefore I would say buy to love, keep and enjoy but not because they are good investments. For this reason again accessories such as jewellery and scarves are great investments - and again they fit everyone too.
- Spend in order of your budget and from where you derive pleasure. This will help you decide what and when you splurge on. So for example I prioritise jewellery and watches - items I never take off and wear every day. Next up I choose to invest in my bags so a beautiful Chanel and then accessories such as scarves, wallets and belts. I then choose to coats as I live in England and it’s often cold, shoes because I love them - not because they are good investments and then finally clothes. I buy simple clothes that I use as a canvas from which to show off the other pieces I have invested in.
- Brand matters. It’s an unfortunate fact of fashion life. Certain brands just hold their value better than others and within those brands certain key items. For example classic Louis Vuitton, Chanel and Hermes handbags. Also make sure you consider colours - naturally whites and creams just don’t wear as well. They are super luxurious but not always great for many wears and resale.
I hope you found this an interesting way to look at buying for investment and would love to have you along on fashion as investment journey!