The Hermès handbag has always been an object of desire, initially as a fashion item but over the last decade and more it has grown to be a particularly profitable investment opportunity. Knight Frank’s 2021 Wealth Report has just been published and confirms what many of us already knew – if you’re looking for a safe place to put your money then alongside cars, watches, wine and some furniture the Hermès bag is a good bet.
The table below shows just how well the Hermès handbag has performed; it has once again topped the Knight Frank Luxury Investment Index (KFLII) with prices rising by 17%, according to the index compiler AMR.
In a year when the value of art has fallen due to the collapse of public auctions and that of coloured diamonds because of the difficulty in transporting them the handbag market thrived. Christie’s Hong Kong sold an especially rare Himalaya Kelly for £309,561 in November 2020 – the most expensive handbag bought at auction yet. A well established online auction presence and the desire of bag collectors to continue buying even during the pandemic has ensured that Hermès maintains its pole position for another year – at least.
Source: Knight Frank Wealth Report 2021
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