On Wednesday, American rapper and songwriter, Offset, literally set social media ablaze when he gave his daughter, Kulture, a pink Birkin purse for her 2nd birthday. It is the year 2020 where everyone has an opinion and is not afraid to express it, and so, it was no surprise that the rapper and his wife and fellow rapper, Cardi-B, received a lot of backlash for his $8000 gift.
This gift is actually a very wise decision. Remember our this story on how Birkin bags seemed to appreciate in value even during the global Coronavirus-induced lockdown? It stated that reports show that the secondary-market prices for Birkin bags went up, with Nikkei, one of the oldest second-hand luxury shops in Hong Kong, Milan Station, reporting a 30-percent increase in transactions of Birkin bags between March and April.
In the world of fashion, luxury items such as Birkin bags are known as investment pieces. Investment pieces are fashion items that transcend time and trends without losing their original value and even appreciating in financial value over time.
This means that regardless of the current price tag and the obvious fact that Kulture might be a bit too young to appreciate this invest now, her future self will definitely thank her parents later on in life for this really cute…and really good purchase.
So, how do you know that you own an ‘alternative’ investment piece, and what should you look out for if you are contemplating getting one?
1. They are timeless. They are not restricted to a particular year or season. They are styled or designed in such a way that years or even centuries from the date they were manufactured, they would still retain their value. Rolex and Patek Philippe timepieces are examples of investment pieces.
2. They are valuable. While some have argued that investment pieces can be cheap – which they sometimes are – most items that end up in this category are usually luxurious, limited and expensive pieces of their day.
3. They involve great skill and creativity. And this point here is what can help you discern between a simply cheap item and one that will increase in value over time. Investment pieces are not made anyhow. They are always produced by highly skilled artisans who sometimes spend hours and hours of intense labour to create intricate and very unique designs.
4. They contain precious stones or metals. It will be surprising if a Cartier piece of jewellery containing diamonds, jadeite or some other precious stone loses its value over time especially when it has been kept in pristine condition.
5. They are made with long-lasting materials. They wouldn’t be timeless otherwise!
Finally, it is important to note that most investment pieces are deceptively simple, devoid of elaborate and ostentatious designs. And yet, they never fail to have an air of sophistication around them. So next time, when you go shopping, you may want to take an extra look at that ordinary-looking item so that you do not unconsciously walk away from what might be a very valuable piece in future!